CE Practice DC Questions and answers

Dean's brokerage firm adopted an electronic transaction management system. Which of the following statements is true about brokerage policies related to the system? System permissions are on a need-to-know basis and passwords are required. Mary's been a salesperson in DC for two years. She's currently building her own professional website. In addition to her broker's contact information, what must she include on the site per DC real estate advertising guidelines? An online disclosure 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 Licensee Enzo just received a letter from the DC commission with an invoice for $50 for the guaranty and education fund. What must have happened to have triggered this request for funds? The fund dipped below a minimum balance amount You've listed a DC property, and the most interested buyer happens to be your cousin. What are you required to do next? Disclose the family relationship to your seller. A buyer that Lydia worked with last year filed a complaint regarding her service, and she's now preparing for a hearing with the DC Real Estate Commission. The commission could ask her to participate in ______ prior to the hearing. A settlement conference. Who or which entity administers the DC Real Estate Guaranty and Education Fund? The real estate commission Jason is the broker of record for Desert Realty which has a main office in Sunburst. Jason is opening a branch office in Garnet which will be managed by a licensed associate broker named Kendra so that Jason can continue to work out of the Sunburst office. Which best describes the requirements for licenses at these offices? Jason's license must be displayed at the Sunburst and Garnet offices; Kendra's license must be displayed at the Garnet office A DC agent practices dual agency without informed consent. This is ______. Illegal Which protected classes does DC's Human Rights Act add to those already protected under the federal Fair Housing Act? Age, marital status, personal appearance, sexual orientation, gender identity or expression, family responsibilities, matriculation, and political affiliation DC owners Cassandra and Matt want to do some renovations to their historic property. They submitted a permit application to the mayor's office. Who is responsible for actually reviewing their request? The mayor's agent for historic preservation In DC, which type of licensee must renew their license by February 28 in odd years? Broker DC license law allows the mayor to suspend a real estate license without a hearing if the licensee is an immediate danger to the public. When Brynn's client filed a complaint about missing trust funds, the mayor immediately suspended Brynn's license. This is called a(n) ________. Summary suspension Jameson is auditing a list of broker applications in DC. He wants to make sure that everyone who applied to take the broker's exam has the correct qualifications. Which of the following applicants would NOT be eligible for a broker's license? Annette, a real estate salesperson who has four years of real estate experience and has completed 60 hours of broker real estate courses In DC, real estate salesperson licenses must be renewed every two years in odd years by which date? August 31 Which type of real estate license requires a 135-hour license course as a condition of taking the licensing exam? Broker As a DC licensee, which one of the following questions can Maya answer while providing reasonable skill and care to her clients? What are the property taxes for this property? DC escrow agent Norman received the earnest money deposit from his clients Bud and Barbara on Friday, January 6, the day the offer was accepted. He must deposit the earnest money by the end of what day? Friday, January 13 When a licensee's actions could have an immediate negative effect on the public, the mayor of DC can take which action without an investigation or hearing? Summarily suspend the license Which of these is an example of commingling in DC? Mixing earnest money with personal funds As a new DC licensee, Niles is thrilled to have completed his first transaction. He bundled up all of the transaction-related paperwork and will send it to his broker's offsite storage facility with a _______-year retention period. Three Which of the following statements about earnest money in DC is true? Earnest money must be placed in an escrow account within seven days of receipt. Under what circumstances can DC buyer agency agreements be terminated early? Buyers and their agent both agree in writing to end the agreement Janna is meeting with clients at her desk. She'd been working on another transaction when these clients came in, so that folder is on her desk. She gets up to go to the copy machine across the hall. Which is the most secure action Janna can take? Put the file in a locked desk drawer.