DC Real Estate Samenvattingen, Notities en Examens

DC REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, VERIFIED. Real estate law in DC created by... - -City Council How many members in DREC? Terms run? - -9 (3 brokers, 2 salespersons, 2 property managers, 1 attorney, 1 consumer not in real estate profession)--must be in field for 5 years 3 years (max 3 consecutive terms) Must take DC test within....of completing education - -1 year Salespersons must activate license within... - -6 months of passing Can keep license on ina...

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DC Real Estate 2024 Latest Update Accurate Minimum and Maximum Balance of the Guaranty & Education Fund - ANSWER $1,040,000 $5,000,000 The certificate filed with the Real Estate Commission to license a real estate partnership must contain all of the following - ANSWER The names of the partners, The residence address of all partners The percentage of each partners ownership Misreprentation of a material fact which results in a loss is - ANSWER fraud If you do not agree with a penalty ...

DC Real Estate Exam Correct 100% Online disclosures must include: - ANSWER 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. - ANSWER $2,500 Electronic documents are permissible per the _____ - ANSWER Uniform Electronic Transactions (UET) Difference between conversion and commingling? - ANSWER Conversion: illegally using money receiv...

DC Real estate exam 2.1| 110 Questions| Acc Based on DC's statutory reasons for eviction, for which of the following reasons can Don's landlord evict him from the house that Don rents? - ANSWER Don's landlord sold the house to Jeanette, who intends to live in it. What is a primary factor a lender reviews when determining if a borrower is a good credit risk? - ANSWER Buyer's income A DC licensee whose license has been inactive may reinstate the license if certain conditions have been m...

DC Real estate exam 1.2 Complete QuesWhen preparing the sales contract, when is it acceptable for a licensee who is not an attorney to offer legal advice to the client? - ANSWER Never (Licensees should never offer legal advice to their clients—unless they also happen to be practicing attorneys.) In a real estate transaction, whom may a licensee represent? - ANSWER A client A defect on a title that can be monetary or physical is called an ______. - ANSWER Encumbrance What's the ter...