DC Broker State Exam Q&A Flashcards
Property manager asks a rental applicant are you a democrat or republican, this is a violation of what:
DC human rights act
In a residential property sales transaction, who must be given the agency disclosure statement:
Seller and Buyer
After several observations a licensed manager of an apartment, suspect tenant of being a hoarder, has clothing blocking area, course of action for licensee:
Offer the tenant reasonable accommodation plan.
Hoarding is a mental health condition that can cause a person to accumulate excessive amounts of clutter. This can create a fire hazard, a health hazard, and a violation of the lease agreement.
The licensed manager should first try to work with the tenant to resolve the hoarding issue. This may involve offering the tenant a reasonable accommodation plan, such as providing the tenant with help cleaning up the clutter or providing the tenant with referrals to mental health professionals.
Green Building must include
Water conservation
The seller is exempt from SPD if:
Buyer is a spouse, parent or child of seller.
The Special Purpose District (SPD) tax is a tax that is imposed on the sale of real property in the District of Columbia. The tax is used to fund capital improvements in the SPD district.
There are a number of exemptions to the SPD tax. One exemption is for sales to a spouse, parent, or child of the seller. This exemption is intended to encourage intergenerational transfers of property.
To meet laws of DC real estate, reasonable and adequate supervision:
Staff meeting attendance.
The District of Columbia Real Estate Commission (DC REC) defines reasonable and adequate supervision as “the supervision that a reasonable and prudent person would provide in similar circumstances.” This includes, but is not limited to, the following:
- Providing training and education to licensees
- Reviewing contracts and other documents
- Monitoring the activities of licensees
Resolving complaints
A licensee places a marketing ad, 4 beds, 3 bath, energy efficient appliances, apply today home, “buy it now”, this market ad shows the licensees knowledge of which:
Sustainability.
The marketing ad mentions that the home has energy efficient appliances. This is a feature that is associated with sustainability. Sustainability is the practice of using resources in a way that does not deplete them or damage the environment.
Salesperson “W” works for broker “X”, is acting as a buyer agent for client “Y”, wants to see a property listed with broker “X” and listing agent “Z”, DC license law says salesperson w and listing agent “Z” should be
Designated dual agents.
In the scenario you described, salesperson “W” and listing agent “Z” would be designated dual agents. This means that they would both represent the buyer and the seller in the transaction.
DC license law requires that all dual agency relationships be disclosed to the buyer and seller in writing.
What is not a role of DC RE Commission:
a. Judgements concerning licensee violations
b. Settling disputes between brokers
c. Preparing exams for licensees
d. Arbitration ?
c. Preparing exams for licensees
Clean and affordable energy act of 2008, benchmarking is defined as:
a. Reporting rental rates annually
b. Providing building age annually
c. Reporting occupancy % annually
d. Tracking building energy and water usage annually
(d) Tracking building energy and water usage annually.
The Clean and Affordable Energy Act of 2008 (CAEA) defines benchmarking as “the process of tracking a building’s energy and water use and using a standard metric to compare the building’s performance against past performance and to its peers nationwide.”
The CAEA requires all buildings in the District of Columbia that are 50,000 square feet or larger to benchmark their energy and water use annually. The benchmarking data must be submitted to the District Department of Energy and Environment (DOEE).
A branch office must be managed by:
a. Principal broker
b. Licensed RE broker
c. Salesperson, designated office manager
(b) Licensed RE Broker
A broker can have his or licensed revoked or suspended by the RE commission by:
a. Listing a property for more than
7% commission
b. Offer property for sale lower than
the seller stipulated
c. Failing to put a sign on listed
property
d. Agreeing to split a commission with
an agent w/o seller approval
(b) Offering property for sale lower than the seller stipulated.
Tenant wants to purchase an apartment building, seller has how many days to get them annual info on the condominium ?
15 Days
In the District of Columbia, a seller of a condominium must provide the buyer with a copy of the condominium’s annual information within 15 days of the date of the contract of sale. This information includes the condominium’s financial statements, budget, and reserve fund study.
The buyer has the right to cancel the contract of sale if the seller does not provide the annual information within 15 days.
In DC, homeowners property taxes are due:
a. In arrears
b. Middle
c. In advance, of the period they cover
d. April 15 of each year
(a) In arrears.
Homeowners property taxes in the District of Columbia are due in arrears, which means that they are due after the period they cover. For example, property taxes for the 2023 tax year are due on April 15, 2024.
A salesperson license must be
a. Carried buy Sales agent
b. Kept in SA file
c. Displayed by broker in office
d. By RE commission
Displayed by broker in office
In addition to satisfying other requirements, an applicant for Sales Agent, Broker or Property Manager
a. At least 21 years old
b. US citizen
c. Understand, read, write English
d. Work for 3 years preceding the application
(c) Understand, read, write English
A listing broker wishes to change their status to associate broker must notify the REC by
Certified mail
Broker who conducts RE transactions in DC must have an account established in a:
a. Financial institution in DC
b. Approved Financial institution
c. Jurisdiction broker’s office is located
d. REC approved trust account
(b) Approved Financial institution.
A broker who conducts real estate transactions in the District of Columbia must have an account established in an approved financial institution. This is a financial institution that has been approved by the REC to hold trust funds.
Final decisions regarding DC license law violations can be appealable to the:
a. DC attorney General
b. DC Court of Appeals
c. DC Superior Court
d. DC REC
(b) DC Court of Appeals
Which of the following persons is exempt from the provisions of license law and regulations?
a. Sales person who
b. Property manager
c. Relative of a Broker who only sells part time
d. The office of a property manager
(d) The office of a property manager
A licensee was expanding his marketing program to include a very upscale community in the city, in order to the licensee DC commission may do which of the follow:
a. Suspend for 60 days for misrepresentation
b. Impose max fine of 2500
c. Fine 5000
d. Revoke the licensees license immediately
b. Fine $5,000
Through which of the following does the REC collect for judgements against licensees
a. Real estate guaranty and education fund?
b. Errors and Omissions insurance
c. DC real estate guaranty
a) Real estate guaranty and education fund.
The District of Columbia Real Estate Commission (DC REC) collects for judgments against licensees through the Real Estate Guaranty and Education Fund. This fund is a self-insurance fund that is funded by all licensed real estate licensees in the District of Columbia.
When renewing a broker license a broker can select
(c) 9, 6 .
All of the following are exempt from the SPD except:
a. Owners of property
b. Sellers of
c. Buyers of homes in foreclosure
c. Buyers of homes in foreclosure
The SPD is not required to be provided to buyers of homes in foreclosure. This is because buyers of homes in foreclosure are typically purchasing the property “as is,” meaning that they are not entitled to any representations or warranties from the seller about the condition of the property
