DC STATE PORTION FINAL EXAM PREP 2025/2026 ACCURATE QUESTIONS WITH CORRECT DETAILED ANSWERS || 100% GUARANTEED PASS RECENT VERSION

DC STATE PORTION FINAL EXAM PREP 2025/2026 ACCURATE QUESTIONS WITH CORRECT DETAILED ANSWERS || 100% GUARANTEED PASS RECENT VERSION 1. Who appoints members of the DC Real Estate Commission? The commission executive director The DC Council chairperson The mayor The outgoing commissioners - ANSWER The mayor 2. Jersey, a real estate licensee who lives in DC, inherited a 5% interest in a strip mall. Pete, her neighbor, saw a for sale sign at the strip mall and wants her to make an offer on the property on his behalf. Jersey considers her personal interest in the property too minor to bother disclosing it. Is this a violation of DC law? No. Jersey must disclose that the buyer is her neighbor, but she doesn't need to disclose her interest in the property. No. Jersey need not disclose unless she holds at least a 10% interest in a property. No. Jersey need not disclose unless she holds at least a 15% interest in a property. Yes. Jersey must disclose any interest she holds in a property. - ANSWER Yes. Jersey must disclose any interest she holds in a property. 3. Colin was found guilty of a minor violation of DC license law. The commission decided that Colin needed remediation, which in this case likely includes ________. Fines Probation Retraining Suspension - ANSWER Retraining 4. Meghan has had a busy day training and supervising licensees and updating the brokerage's written policies and procedures. Meghan is a ______. Board member Broker Property manager Salesperson - ANSWER Broker 5. Which of the following is true about the deposit of DC earnest money funds? Escrow funds may be deposited in the escrow holder's personal account in an emergency. Escrow records must always be available to the commission on demand. Escrow records must be maintained for at least five years. Money from earnest money deposits may be used to provide training to licensees. - ANSWER Escrow records must always be available to the commission on demand. 6. After Marlin created his ad for a lovely two-bedroom, two-bath condo with views of the National Monument and several Metro stops in a one-mile radius, he should ______. Get his broker's approval Get legal to review it Have a peer proofread it Submit it immediately to make publication - ANSWER Get his broker's approval 7. Which of the following is an informal alliance of organizations and individuals that represent DC historical districts and others that are interested in historic preservation? Historic Districts Coalition Historic Preservation Review Board Public Allies of DC State Historic Preservation Office - ANSWER Historic Districts Coalition 8. First Choice Realty is a favorite among new licensees because it has a strong training program. Who has the ultimate legal responsibility for this program at First Choice? Ada, the operations manager Darius, the marketing principal Jerilyn, the principal broker Mitch, the training manager - ANSWER Jerilyn, the principal broker 9. Which one of the following statements about the DC agency disclosure notice is true? The agency disclosure notice is not a contract. The agency disclosure notice is not required by law. The agency disclosure notice, once signed and dated, creates a brokerage relationship. The licensee must provide a written disclosure to the party he or she plans to represent in the real estate transaction. - ANSWER The agency disclosure notice is not a contract. 10. Careful handling of all funds is crucial to the success of a brokerage firm. Of special importance, however, is the handling of ______. Capital expenditure funds Escrow funds Operating funds Payroll funds - ANSWER Escrow funds 11. DC landlord Mila was found guilty of refusing to rent to Muslims. Which of the following are penalties she may face? Civil fine of as much as $50,000 and 500 hours of community service Civil fine up to $50,000 and compensatory damages for the complainants Compensatory damages for the complainants and 500 hours of community service Punitive damages and a civil fine of as much as $40,000 - ANSWER Civil fine up to $50,000 and compensatory damages for the complainants 12. DC law and DC disclosures often refer to dual agency as ______. Double agency Dual client agreement Dual representation Informed consent - ANSWER Dual representation 13. A DC buyer entered into a purchase agreement with a seller for a single family property. At the time of execution, the seller has not provided the property disclosure form. Which of these is an action the buyer could take? The buyer can terminate the agreement if the disclosure form becomes inaccurate after it was delivered by the seller. The buyer can terminate the agreement, in writing, at any point before settling the sale. The buyer can terminate the agreement, in writing, no more than five business days after receiving the disclosure. The buyer can terminate the agreement, in writing, no more than five calendar days after receiving the disclosure. - ANSWER The buyer can terminate the agreement, in writing, no more than five calendar days after receiving the disclosure. 14. Which of the following statements best describes the items required in the online disclosure required on a DC real estate firm-owned web page? Firm's licensed name, city/state of main office, city/state of all branch offices, jurisdiction in which the firm holds a license Firm's licensed name, city/state of main office, jurisdiction in which the firm holds a license Firm's licensed name, city/state of main office, names of all licensees working out of the main office, jurisdiction in which the firm holds a license Firm's licensed name, firm's license number, city/state of main office, jurisdiction in which the firm holds a license - ANSWER Firm's licensed name, city/state of main office, jurisdiction in which the firm holds a license 15. Tran, the seller, and Vicki, the buyer, are represented by licensee Martin. Martin provided dual agency disclosures and received written consent from both Tran and Vicki to represent them both in the transaction. Which fiduciary duty are Tran and Vicki foregoing? Accounting Disclosure Reasonable care Undivided loyalty - ANSWER Undivided loyalty 16. Raul is a licensed ______. His primary responsibilities include helping clients and customers buy and sell property, and negotiating the purchase, sale, auction, exchange, lease, or rental of property. He must be supervised by a broker. Associate broker Broker Property manager Salesperson - ANSWER Salesperson 17. Which statement is an example of puffery? "I love this house, and I know it will appreciate better than the average house its size!" "This apartment will definitely increase in value. You can't lose!" "This condo has the best view this side of the river!" "This home is built to last. You won't have maintenance issues for a decade, at least!" - ANSWER "This condo has the best view this side of the river!" 18. Jess is selling her condo unit in DC. Within how many days of purchase contract ratification must she provide the condo documents stated in the condo seller disclosure/resale addendum? 10 business days 30 business days The condo association must provide these documents, not Jess. Three business days - ANSWER 10 business days 19. Broker licensees in DC are required to have ______, which allows them to supervise salespersons and manage a brokerage on a day-to-day basis. 10 years' experience as a salesperson Additional education and experience A master's degree A nomination from the mayor - ANSWER Additional education and experience 20. DC seller Nico is out of compliance with seller's disclosure requirements for his historic home because he didn't note which of the following on his Seller's Disclosure Statement? That he made unpermitted renovations to the property. The date that his property was listed on the DC Inventory of Historic Sites. The fact that he has applied for national historic status. The famous person who once owned the property. - ANSWER That he made unpermitted renovations to the property.