DC LICENSING EXAM - STATE QUESTIONS & ANSWERS SOLVED 100% CORRECT!

The DC commission can impose civil fines for license law violations. Each violation may garner a fine up to ______. - $5,000 Joan began a court case against a DC licensee who misrepresented a property, resulting in a financial loss for Joan. At this point, does Joan need to make any notifications to the mayor? - Yes, Joan must notify the mayor within 30 days of the date she began her action DC licensee Jenna presented her evidence at a commission hearing held March 19. How long does the commission have to issue its final decision regarding her case? - 90 days Chester is interested in becoming a real estate licensee in the District of Columbia. After completing the requirements for obtaining the license for a real estate salesperson, which agency will administer Chester's license? - DC real estate commission In addition to disciplinary sanctions imposed by the DC Real Estate Commission, licensees may face a(n) ________ if the attorney general files for one in superior court. - Injunction Who or which entity administers the DC Real Estate Guaranty and Education Fund? - DCREC Kunal lost money due to his DC real estate agent's negligence, but he's not a candidate to submit a claim to the real estate guaranty fund. What's a likely reason why he's not a candidate? - His agent is his wife You and your client just successfully closed on a home. How long do you have to keep the agency disclosure notice on file that you collected early on in the transaction? - 3 years Under certain circumstances, an attorney may perform real estate services without holding a real estate license. This would be true for an attorney who employs up to ______ salespeople. - ZeroRefusing to show apartments, misrepresenting availability, quoting different terms, and failing to inform persons of color of opportunities to receive more favorable rent is discrimination based on what protected class? - Color Online advertising that contains a DC licensee's name must include an online disclosure. Which option best details the items required to be in this disclosure? - Name of affiliated firm, licensee's office location, jurisdiction in which license is held Forrest found out that he pays higher rent for his DC apartment than another tenant in a same-sized unit, and he thinks it's because he is an African-American male. Where should Forrest file a complaint? - DC Office of Human Rights Theodore was showing his buyer clients some homes in DC after he'd had lunch with a colleague. He was clearly under the influence of alcohol, and his clients were concerned and angry. They filed a complaint with the commission. Providing services while impaired is a very serious offense, so it's a good chance that Theodore will receive a ________ as a sanction. - Revocation A person performing real estate activities under the judgment or order of a court, such as a trustee in a bankruptcy, is _______. - Required to have at least a salesperson license Muriel is an endorsement license applicant from Kentucky. Daniel is a reciprocal license applicant from Maryland. While there are some differences in what they must submit to become licensed salespersons in DC, they both must submit ________. - A Letter of Certification showing that their license is in good standing In DC, which type of licensee must renew their license by February 28 in odd years? - Broker Amanda helps her neighbor sell his DC home by assisting with negotiations. She receives no compensation for her assistance. Based on this one transaction, Amanda ______. - Doesn't need a real estate license THERE'S NO COMPENSATIONCarmen is the vice-president of a DC investment firm that wants to start offering real estate sales services for its clients. Which of the following statements is true about the firm's submission of a broker license application? - Anyone involved in providing real estate services needs to hold a DC real estate license. If a DC-licensed salesperson decides to quit working for a given broker and look for other employment, what happens to the salesperson's license? - Broker returns it to mayor Nathan assisted with the purchase of a commercial building that will be used as a community center. He doesn't hold a DC real estate license, yet his actions didn't violate any license laws. What must be true about Nathan's situation? - Nathan is a public official whose salaried duties include real estate transactions. DC law requires licensees to disclose their personal interest before acting on their own behalf in a real estate transaction. Which of the following must licensee Ben disclose to a buyer client when writing up an offer? - He is the seller DC broker Antonio was thrilled to close on a listing that had been on the market for six months. He realizes that it was a team effort and would like to compensate people who helped get it sold. Antonio can share his commission with which of the following people? - Licensed sales assistant 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