DC Real Estate License Law UPDATED
ACTUAL Exam Questions and CORECT
Answers
Real Estate Board - CORRECT ANSWER - Entity in DC administering real estate license
law
Mayor's Role - CORRECT ANSWER - Appoints Real Estate Board members, confirmed
by City Council
Board Authority - CORRECT ANSWER - Enforces rules for real estate licensees
Investigation Grounds - CORRECT ANSWER - Valid reasons for investigating a license,
excluding random selection
Penalties - CORRECT ANSWER - Fines and imprisonment for unlicensed real estate
activities
License Revocation - CORRECT ANSWER - Conditions leading to license suspension or
revocation
Disciplinary Actions - CORRECT ANSWER - Actions leading to license suspension or
revocation
Fair Housing Complaints - CORRECT ANSWER - Complaint process for housing
discrimination issues
Discrimination Filing Time - CORRECT ANSWER - Time limit to file discrimination
complaints in DC
, Protected Classes - CORRECT ANSWER - Groups protected under DC Fair Housing Law
Occupancy Limitation - CORRECT ANSWER - Age restriction for senior citizen
occupancy in DC buildings
Conviction Notification - CORRECT ANSWER - Requirement to inform Real Estate
Board of convictions within 15 days
Real Estate Guaranty Fund - CORRECT ANSWER - Fund for compensating aggrieved
parties in real estate violations
Lawsuit Time Limit - CORRECT ANSWER - One year after the violation occurred.
Guaranty Fund Award - CORRECT ANSWER - Only after winning in civil court and
unable to collect from licensee.
Fund Purpose - CORRECT ANSWER - Compensate consumer losses, fund licensee fees,
and protect the Real Estate Board.
Compensation Eligibility - CORRECT ANSWER - Buyers, sellers, brokers, and
cooperating brokers under specific circumstances.
Maximum Compensation - CORRECT ANSWER - $50,000 per single transaction.
Licensee Obligation - CORRECT ANSWER - Repay full amount plus interest for license
reinstatement.
Fund Balance - CORRECT ANSWER - Minimum of $1,040,000, maximum of
$3,500,000.
ACTUAL Exam Questions and CORECT
Answers
Real Estate Board - CORRECT ANSWER - Entity in DC administering real estate license
law
Mayor's Role - CORRECT ANSWER - Appoints Real Estate Board members, confirmed
by City Council
Board Authority - CORRECT ANSWER - Enforces rules for real estate licensees
Investigation Grounds - CORRECT ANSWER - Valid reasons for investigating a license,
excluding random selection
Penalties - CORRECT ANSWER - Fines and imprisonment for unlicensed real estate
activities
License Revocation - CORRECT ANSWER - Conditions leading to license suspension or
revocation
Disciplinary Actions - CORRECT ANSWER - Actions leading to license suspension or
revocation
Fair Housing Complaints - CORRECT ANSWER - Complaint process for housing
discrimination issues
Discrimination Filing Time - CORRECT ANSWER - Time limit to file discrimination
complaints in DC
, Protected Classes - CORRECT ANSWER - Groups protected under DC Fair Housing Law
Occupancy Limitation - CORRECT ANSWER - Age restriction for senior citizen
occupancy in DC buildings
Conviction Notification - CORRECT ANSWER - Requirement to inform Real Estate
Board of convictions within 15 days
Real Estate Guaranty Fund - CORRECT ANSWER - Fund for compensating aggrieved
parties in real estate violations
Lawsuit Time Limit - CORRECT ANSWER - One year after the violation occurred.
Guaranty Fund Award - CORRECT ANSWER - Only after winning in civil court and
unable to collect from licensee.
Fund Purpose - CORRECT ANSWER - Compensate consumer losses, fund licensee fees,
and protect the Real Estate Board.
Compensation Eligibility - CORRECT ANSWER - Buyers, sellers, brokers, and
cooperating brokers under specific circumstances.
Maximum Compensation - CORRECT ANSWER - $50,000 per single transaction.
Licensee Obligation - CORRECT ANSWER - Repay full amount plus interest for license
reinstatement.
Fund Balance - CORRECT ANSWER - Minimum of $1,040,000, maximum of
$3,500,000.
