DC Real Estate Exam || Already Passed!!

Online disclosures must include: correct answers Firm's licensed name, city/state of main office, jurisdiction(s) in which the firm holds a license. Commission related violations may be subject to disciplinary action and fines up to ____ per violation. correct answers $2,500 Electronic documents are permissible per the _____ correct answers Uniform Electronic Transactions (UET) Difference between conversion and commingling? correct answers Conversion: illegally using money received. Commingling: mixing client funds with personal funds or the firm's operating account. Earnest money must be placed in an escrow fund within ___ days of receipt. correct answers 7 Escrow accounts earn interest from the ____st day to the day the transaction is completed or terminated. correct answers 91 The Commission on Human Rights conduct investigations of ____ correct answers discrimination patterns and complaints of discrimination in DC. The Commission on Human Rights is made up of ___ commissioners who serve ____ year terms without pay. The are nominated by the major and confirmed by the city council. correct answers 15 and 3 The ____ reviews complaints for probable cause before the Commission on Human Rights conducts a hearing/passes judgement. The facts are presented to an ___ or panel of ____ commissioners. correct answers Office of Human Rights (OHR), administrative law judge (ALJ), 3 commissioners Civil penalties for discrimination range from ___ to ___ which must be paid to the district government. correct answers $10,000 - $50,000 A property is exempt from some fair housing laws when the owner or the owner's family occupy a living unit in a property that has: correct answers 4 families or fewer with a shared kitchen/bathroom, or a duplex. The sale/rental of a single-family home by the owner is exempt from fair housing if: correct answers The owner doesn't own more than 3 SFH, this exemption may be used only once every 2 years. TOPA : If there is a third-party offer and a tenant is interested, the copy of the offer must be provided within ___ days if requested. correct answers 7 , additional information if requested must also be provided within 7 days (itemized list of operating expenses, utility consumption rates, and capital expenditures for the previous 2 years).