DC Real Estate Exam Practice Test || Most Recent Exam
2026-2027 Actual Complete Real Exam Questions And Correct
Answers (Verified Answers by Expert) Already Graded A+ |
Guaranteed Success!! Newest Exam | Just Released!!
Trina applied for inactive status for her DC broker's license
when her son was diagnosed with leukemia four years ago.
How long does she have to reactivate her license from the time
it was made inactive? - ANSWER-5 years
datums and benchmarks are used for ________ - ANSWER-
measuring elevations
a minimum down payment of 3.5% is required - ANSWER-FHA
loan
which of the following statements about the number of
contingencies in a sales contract is true? - ANSWER-more
contingencies makes buyer less likely to accept offer
closing disclosure not required - ANSWER-HELOC
each legal description in the rectangular government system
originates at... - ANSWER-the intersection of a principal
meridian and a baseline
permits comparison shopping for loans - ANSWER-the loan
estimate
,a property that is being sold by the lender due to the buyer's
default - ANSWER-foreclousre
allows the lender to make the entire loan amount due
immediately - ANSWER-acceleration clause
a property that the seller is selling for less than the seller owes
against the property - ANSWER-short sale
ownership has reverted to the lender because of a failed
foreclosure sale or because of the property to the lender
through a deed in lieu of foreclosure - ANSWER-REO sale
calculated based on property's assessed value; government
likes them because they are a stable, reliable revenue source -
ANSWER-property taxes
property transfer fees that are not included in the sales price -
ANSWER-closing costs
closing costs (7) - ANSWER-1. loan fees
2. appraisal and survey fees
3. title insurance
4. legal fees
5. RE commissions
6. tax and insurance pre payments
7. transfer fees
, common seller credits (2) - ANSWER-1. sale price of property
2. prepaid taxes/utilities
common buyer credits (3) - ANSWER-1. earnest money
2. mortgage amount
3. seller concessions
common seller debits (5) - ANSWER-1. transfer taxes
2. broker commission
3. attorney's fees
4. recording documents to clear title
5. existing mortgage satisfaction
common buyer debits (6) - ANSWER-1. appraisal and credit
report fees
2. inspection costs
3. mortgage recording tax
4. title insurance
5. loan fees
6. attorney's fees
already paid by the seller but that the buyer should pay a
portion of; CREDITED to seller and DEBITED to buyer -
ANSWER-prepaid expenses (ex: prepaid RE taxes, utilities paid
in advance)
items the seller owes on closing day but that will eventually be
paid by the buyer; DEBIT to seller and CREDIT to buyer -
ANSWER-accrued expenses (ex: unpaid property tax)
2026-2027 Actual Complete Real Exam Questions And Correct
Answers (Verified Answers by Expert) Already Graded A+ |
Guaranteed Success!! Newest Exam | Just Released!!
Trina applied for inactive status for her DC broker's license
when her son was diagnosed with leukemia four years ago.
How long does she have to reactivate her license from the time
it was made inactive? - ANSWER-5 years
datums and benchmarks are used for ________ - ANSWER-
measuring elevations
a minimum down payment of 3.5% is required - ANSWER-FHA
loan
which of the following statements about the number of
contingencies in a sales contract is true? - ANSWER-more
contingencies makes buyer less likely to accept offer
closing disclosure not required - ANSWER-HELOC
each legal description in the rectangular government system
originates at... - ANSWER-the intersection of a principal
meridian and a baseline
permits comparison shopping for loans - ANSWER-the loan
estimate
,a property that is being sold by the lender due to the buyer's
default - ANSWER-foreclousre
allows the lender to make the entire loan amount due
immediately - ANSWER-acceleration clause
a property that the seller is selling for less than the seller owes
against the property - ANSWER-short sale
ownership has reverted to the lender because of a failed
foreclosure sale or because of the property to the lender
through a deed in lieu of foreclosure - ANSWER-REO sale
calculated based on property's assessed value; government
likes them because they are a stable, reliable revenue source -
ANSWER-property taxes
property transfer fees that are not included in the sales price -
ANSWER-closing costs
closing costs (7) - ANSWER-1. loan fees
2. appraisal and survey fees
3. title insurance
4. legal fees
5. RE commissions
6. tax and insurance pre payments
7. transfer fees
, common seller credits (2) - ANSWER-1. sale price of property
2. prepaid taxes/utilities
common buyer credits (3) - ANSWER-1. earnest money
2. mortgage amount
3. seller concessions
common seller debits (5) - ANSWER-1. transfer taxes
2. broker commission
3. attorney's fees
4. recording documents to clear title
5. existing mortgage satisfaction
common buyer debits (6) - ANSWER-1. appraisal and credit
report fees
2. inspection costs
3. mortgage recording tax
4. title insurance
5. loan fees
6. attorney's fees
already paid by the seller but that the buyer should pay a
portion of; CREDITED to seller and DEBITED to buyer -
ANSWER-prepaid expenses (ex: prepaid RE taxes, utilities paid
in advance)
items the seller owes on closing day but that will eventually be
paid by the buyer; DEBIT to seller and CREDIT to buyer -
ANSWER-accrued expenses (ex: unpaid property tax)
