DC Real Estate Law quiz 1 || Passed!!

A broker's license could be revoked for which of the following? correct answers Quoting a price below the listed price to a prospective purchaser. Members of the Real Estate Commission include: correct answers 2 licensed salespersons with at least 5 years experience One day after an exclusive right-to-sell listing agreement has expired, a salesperson who works for the listing broker buys the property. Which of the following is true in this situation? correct answers This is proper providing the salesperson reveals to the seller his or her license status and relationship with the listing broker. The minimum balance of the Guaranty & Education Fund is : correct answers $1,040,000 The Fair Housing Law applies to all of the following except: correct answers Discrimination on the basis of the buyers inability to pay. Broker Smith fired salesperson Ted because he was stealing money. Smith told Ted that he would hold his license until he replaced the stolen money. Ted is innocent and wants to go to work for another broker but cannot because Smith is holding his license. In this situation, which of the following is true? correct answers Ted should file a compliant with the Real Estate Commission. If a full price offer from a minority is rejected because of the buyer's race, the broker: correct answers Must advise the seller that his or her actions violate the law. When licenses are renewed, three out of 15 continuing education credits must be about: correct answers Fair Housing Which of the following persons is NOT exempt from the licensing requirements? correct answers An Attorney-at-will who performs real estate brokerage services on a regular basis. The certificate filed with the Real Estate Commission to license a real estate partnership must contain all of the following EXCEPT: correct answers The names of all employees. The real estate license of any person or firm may be suspended or revoked by which of the following? correct answers The Real Estate Commission. Bob, a consumer, has filed a claim with the DCREC for payment from the Guaranty and Education Fund. Which of the following statements is INCORRECT? correct answers Bob must obtain a judgment from the local Association of Realtors. In DC a mechanic must file a notice of a lien in the public record for materials supplied within: correct answers 90 days after material is supplied. Gladys intentionally makes a misrepresentation of a material fact which results in a loss to Louise. Gladys's actions would be considered to be: correct answers Fraud