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DC REAL ESTATE > STATE EXAM > Flashcards

STATE EXAM Flashcards

1
Q

According to the dc office of human rights, a possible penalty for violating fair housing law is:
*A fine of up to $500

*An award of punitive damages with limitation

*Making the housing or loan available that
has otherwise been denied to the complainant

  • Time in prison
A

Making the house or loan available that has otherwise been denied to the complaint

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2
Q

A DC buyer entered into a purchase agreement with a seller for a single-family property. At the time of execution, the seller has not provided the property disclosure form. What action can the buyer take?
- The buyer can terminate the agreement if the disclosure form becomes inaccurate after it was delivered by the seller.

  • The buyer can terminate the agreement, in writing, at any point before settling the sale.
  • The buyer can terminate the agreement, in writing, no more than five business days after receiving the disclosure.

-The buyer can terminate the agreement, in writing, no more than five calendar days after receiving the disclosure.

A

The buyer has 5 calendar days to terminate the agreement in writing after receiving the disclosure.

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3
Q

DC added protected classes:
-Age, marital status, personal appearance, sexual orientation, and gender identity or expression

-Age, marital status, personal appearance, sexual orientation, gender identity or expression, family responsibilities, matriculation, and political affiliation

  • Age, sex, marital status, disability

-Sex, disability, and religion

A

Age
Marital status
personal appearance
sexual orientation, gender identity or expression
family responsibilities
matriculation
political affiliation

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4
Q

In the DC/maryland region, termites are

-Fairly active and widespread

  • Not a concern for homeowners
  • Only found in older homes
  • Widespread but mostly inactive
A

Fairly active and widespread

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5
Q

How often do real estate licensees contribute to the guaranty and education fund?
-Annually

-Every license renewal

  • Upon initial licensure
  • Upon initial licensure and at every license renewal
A

Upon initial licensure and at every license renewal

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6
Q

Real property tax payments in DC are due twice each year. On which dates are the payments due?
-
June 15 and December 15

  • June 30 and December 31
  • March 31 and September 15
  • March 31 and September 30
A

March 31 and September 15

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7
Q

If a licensee is found guilty in a criminal proceeding, what maximum fine might he face?
$10,000
$15,000
$25,000
$5,000

A

$10,000

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8
Q

How many years of experience must a licensee or broker have to join the real estate commission?

A

5 years of professional experience

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9
Q

In addition to disciplinary sanctions imposed by the dc real estate commission, licensees may face an … if the attorney general files for one in superior court

Censure
Injunction
Reprimand
Revocation

A

Injunction

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10
Q

What does a written agreement for a client not establish?

A

The salesperson’s commission

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11
Q

Who’s license must be displayed at the brokerage?

A

Must display all the licenses of those affiliated with the brokerage.

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12
Q

How long does a compliant have to file a complaint if he decides to bypass the HUD?

Four years
One year
Six months
Three months

A

1 year

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13
Q

How long does a complainant who files with the HUD have for a civil suit?

A

2 years

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14
Q

Do online ads have to have online disclosures?

A

Yes

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15
Q

The amount of earnest money is negotiable between the parties but it must be considered :
“Enough”
“Reasonable”
“Sizeable”
“Sufficient”

A

Reasonable

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16
Q

How many hours of CE must a licensee complete?
10
15
25
30

A

15 HRS EVERY 2 YEARS

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17
Q

What happens when the losses exceed the liability?

A

Consumers are paid in a ratio proportional to their losses

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18
Q

Serena is accused of commingling trust funds from two different clients. She has a hearing before the DC Real Estate Commission next week. If she is found guilty of two separate license law violations, what is the maximum civil penalty that can be imposed on her?
$10,000 fine
$20,000 fine
$5,000 fine
No fine

A

$10,000

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19
Q

A salesperson or associate broker may perform real estate brokerage activities under what circumstance?

A

While associated with and supervised by a broker

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20
Q

Who are you required to present to the disclosures of a brokerage relationship with?

A

To the parties in the transaction whom you do not represent

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21
Q

In DC, which type of licensee must renew their license by August 31 in odd numbered years?

A

Salesperson

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22
Q

What administrative office uses planning, protection and public education to promote stewardship of DC Historic properties?

A

Historic preservation office

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23
Q

Simon is selling a 10 unit property. He’s made an offer of sale to the tenants of the property, who have asked for floor plans, rent roll, and other items. Within how many days must Simon provide this information?

A

7 days

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24
Q

A dc hearing panel comprises of at least how many commission members?

A

3

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25
Q

What’s a likey disciplinary sanction after a someone registering to get her license is found to have lied on her dc salesperson license application?

A

License denial

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26
Q

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?
- No. Joan isn’t required to make any notifications to the mayor, but the licensee does.

-No. Joan only needs to notify the mayor if she is awarded a judgment.

  • Yes, Joan must notify the mayor of the action and provide regular updates on the progress of the case.
    -
    Yes, Joan must notify the mayor within 30 days of the date she began her action.
A

Yes, Joan must notify the mayor within 30 days of the date she began her action

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27
Q

To be eligble for the current tenant exception, elderly or disabled tenants must have signed a lease by when?

A

By march 31, 2018 and moved in by april 15,2018

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28
Q

DC Licensees convicted of criminal charges may face up to $10,000 fine as well as

A

Up to one year in jail

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29
Q

How long do you have to put earnest money into an escrow account?

A

within 7 days of receipt

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30
Q

Phyllis has been working independently as a DC broker for six years and recently decided that she no longer wants to deal with the paperwork or insurance requirements. She’s going to work as an associate broker for a colleague. What should she do next?

  • Call the real estate commission secretary

-Courier a transfer application to the real estate commission

  • Notify the commission via a letter sent by certified mail
  • Submit a transfer application to the Division of Business and Professional Licensing
A

Notify the commission via a letter sent by certified mail

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31
Q

Tenants have … after the offer of sale to request more information; Margaret has seven days to comply. The tenant organization has …. to file a statement of interest; Carl has … after that to file an individual petition.

A

seven days
15 days
7 days

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32
Q

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 civil proceeding

-Arbitration

-A settlement conference

  • Mediation
A

A settlement conference

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33
Q

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?

A

Nathan is a public official whose salaried duties include real estate transactions

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34
Q

Charlene has been working hard to repay the DC guaranty fund for the $18,000 claim it paid to one of her past clients. Once she finishes repaying the fund, what will happen?

A

Her license suspension will end

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35
Q

DC landlord Milo was found guilty of refusing to rent to Muslims. Which of the following are penalties she may face?

A

Civil fine up to $50,000 and compensatory damages for the complainants

36
Q

The dc real estate commission includes only one

A

Attorney

37
Q

A DC condo seller provided the required condo documents and disclosures on the seventh business day after purchase contract ratification. If the buyer chooses to cancel the agreement, within how many days must the buyer act?

A

3 days

38
Q

Which department provides budget and resource support to the dc real estate commission

A

The department of consumer and regulatory affairs

39
Q

Members of the DC Commission are limited to how many consecutive terms?

A

three

40
Q

In DC, associate brokers are:

A

Brokers who choose to be supervised by another broker

41
Q

Simon is selling a 10 unit property. Within how many days from the offer of sale must the tenants provide Simon with a statement of interest to purchase if a tenant organization already exists?

A

30 days

42
Q

If a tenant organization does not exist, what is the window for receiving the offer of sale?

A

45 days

43
Q

Which of the following statements about condo/co-op conversions in DC is true

A

Conversions require a tenant vote

44
Q

What is conversion?

A

When licensees/escrow holders use money that they received on behalf of the principles for a reason other than the intended use

45
Q

Reba is selling a three unit property and makes an offer of sale to the tenants. Within how many days must the tenants submit a statement of interest to exercise their right to purchase?

A

15 days if tenants are collectively exercising the right and an additional 7 days if they are acting individually

46
Q

The DC Commission is under the administrative oversight of

A

The DC mayor

47
Q

What is Greenwashing?

A

Describes the misrepresentation of a property’s energy efficiency or environmental benefit

48
Q

Which of the following is an example of misrepresentation?
-Greenlighting
-Greenwashing
-puffing
-redlining

A

Greenwashing

49
Q

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
-30 business days
-3 business days
-the condo association must provide these documents, not jess

A

10 days

50
Q

What type of termite is most likely to cause damage to homes in DC?
Coastal termite
Dry wood termite
Formosan termite
Subterranean termite

A

Subterranean termite

51
Q

Puffery is an exaggeration, whereas misrepresentation is

A

A false statement made about a material fact

52
Q

Which statement is an example of puffery?

  • “I love this house, and I know it will appreciate better than the average house its size!”
  • “This apartment will definitely increase in value. You can’t lose!”
  • “This condo has the best view this side of the river!”
  • “This home is built to last. You won’t have maintenance issues for a decade, at least!”
A

This condo has the best view this side of the river!

53
Q

Hannah is a new member of the DC Real Estate Commission. She’s been told that the first meeting is an organizing meeting, where the commissioners will elect a ________ as required by law.

A

Chairperson

54
Q

A DC property owner is considering donating a conservation easement to The L’Enfant Trust. What tax benefits may the owner receive?

-The owner may face a tax penalty.

-The owner may only receive a tax benefit for monetary donations.

  • The owner may receive a tax benefit based on the diminished value of the property resulting from the placement of the easement.
  • The owner won’t receive any tax benefit.
A

The owner may receive a tax benefit based on the diminished value of the property resulting from the placement of the easement

55
Q

Does paying compensation create an agency relationship?

A

No

56
Q

Who reviews permit requests involving historic properties?

-The DC council chairperson

-The director of the Historic Preservation Office

  • The mayor
  • The mayor’s agent for historic preservation
A

The mayor’s agent for historic preservation

57
Q

David’s DC buyers are interested in one of his commercial listings. What should David tell them about his ability to represent them?

  • He can represent them as long as they provide written permission.

-He can represent them if they and the sellers provide written informed consent.

  • He can’t represent them as dual agency is only available for residential transactions.
  • He can’t represent them since dual agency is illegal in DC.
A

he can represent them if they and the sellers provide written informed consent

58
Q

In DC, which type of licensee must renew their license by February 28 in odd years?

-Brokers
-Certified public accountant
-Real Estate Management License
-Salesperson

A

Broker

59
Q

A DC developer has offered a condo unit “as is.” How long must the developer warranty the work they performed on the unit?
-5 yrs
-1 yr
-the developer isnt required to warranty their work
-2yrs

A

2 years

60
Q

Which of the following is an informed alliance of organizations and individuals that represent DC Historical districts and others interested in historic preservation?

-Historic Districts Coalition
- Historic Preservation Review Board
-Public Allies of DC
-State Historic Preservation Office

A

Historic districts coalition

61
Q

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?

-Licensee’s license number, name of affiliated firm, licensee’s office location, jurisdiction where license is held

  • Name of affiliated firm, firm’s main office location, licensee’s office location, jurisdiction where license is held
  • Name of affiliated firm, licensee’s office location
  • Name of affiliated firm, licensee’s office location, jurisdiction where license is held
A

Name of affiliated firm, licensee’s office location , jurisdiction where license is held

62
Q

If a listing agreement doesn’t have a definite termination date, what does the law say?

A

The agreement terminates 90 days after it begins

63
Q

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?
30 days
45 days
60 days
90 days

A

90 days

64
Q

Which of the following can hold a broker’s license?
A brokerage company only
A person only
A person or an entity
A salesperson with more than five years’ experience only

A

A person or entity

65
Q

What are the terms of service for someone appointed as a commissioner on the DC Commission of Human Rights?

13 yrs w/ comp
6 yrs w/ comp
3 yrs w/ comp
3 yrs w/out comp

A

3 years without compensation

66
Q

The DC commission can impose civil fines for license law violations. Each violation may garner a fine up to ______.
$1,000
$1,500
$2,500
$5,000

A

$5,000

67
Q

In DC, when is a licensee required to provide the agency disclosure notice?

-At the first substantive discussion about a specific property the licensee has with the party he or she is not representing in the transaction

  • If the licensee is representing the buyer, the disclosure must be given after the purchase offer has been made and accepted.
  • If the licensee is representing the seller, the disclosure must be given once the listing price has been determined.
  • Just before the licensee and his or her client enter into an agency agreement.
A

At the first substantive discussion about a specific property the licensee has with the party he/she is not representing in the transaction

68
Q

Which board implements federal review programs and evaluates applications to ensure the proposed work meets DC requirements and advises the Mayor’s Agent and the State Historic Preservation Office on historic properties?
Historic Preservation Review Board
Planning Board
Town Board of Trustees
Zoning Board of Appeals

A

historic preservation review board

69
Q

Which of the following statements is true regarding agency disclosure notices in DC?

-They are informational only but required by law.
-They are used to create brokerage relationships.
-They must be kept for a minimum of seven years.
-They must be signed, dated, and notarized.

A

They are informational only but required by law

70
Q

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?

-The broker keeps it until they can pass it along to the salesperson’s new employer.

  • The broker who held the license returns it to the mayor.
  • The salesperson keeps it until they find new employment.
  • The salesperson returns it to the mayor.
A

The broker who held the license returns it to the mayor

71
Q

Several buyers attended Neil’s open house last weekend. He made the DC Seller’s Disclosure Statement available, but there is one person for whom he was legally required to provide it. Who would that be?

  • The buyer who called him later that night
  • The buyer who emailed him about the property
  • The buyer who mentioned she was pre-approved
  • The first open house attendee
A

The buyer who emailed him about the property

72
Q

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.

-4
-3
-2
-0

A

zero

73
Q

How many commissioners serve on the DC Commission on Human Rights?

A

11

74
Q

Which one of the following statements about the DC agency disclosure notice is true?

-The agency disclosure notice is not a contract.

-The agency disclosure notice is not required by law.

  • The agency disclosure notice, once signed and dated, creates a brokerage relationship.
  • The licensee must provide a written disclosure to the party he or she plans to represent in the real estate transaction.
A

The agency disclosure is not a contract

75
Q

A DC apartment complex is being converted to condominiums. Advance notice of _____ must be provided to existing tenants and subtenants.

A

120 days

76
Q

How long must property owners or property managers keep a copy of a signed DC Lead Disclosure Form?

A

6 years

77
Q

DC consumers who believe they are the victims of housing discrimination have ______ from the alleged violation to file a complaint.

A

1 year

78
Q

How is legal agency determined?

A

by expressed agreement

79
Q

Who receives and reviews housing discrimination complaints?

A

The Office of Humans Rights

80
Q

Nina knows that she will be able to select some elective continuing education courses in order to renew her DC real estate salesperson’s license, but some of her required hours are prescribed by the commission. Which of the following is a commission requirement for Nina’s continuing education?

-Four hours of ethics education
-Four hours of legal updates
-Three hours of antitrust education
-Three hours of fair housing education

A

3 hrs of fair housing education

81
Q

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 and Kendra’s licenses must be displayed at the Garnet office
  • Jason and Kendra’s licenses must be displayed at the Sunburst office
  • Jason’s license must be displayed at the Sunburst and Garnet offices; Kendra’s license must be displayed at the Garnet office
  • Kendra’s license must be displayed at the Sunburst office; Jason’s license must be displayed at the Garnet office
A

Jason’s license must be displayed at the Sunburst and Garnet offices; Kendra’s license must be displayed at the Garnet office

82
Q

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.

Censure
Fine
Reprimand
Revocation

A

Revocation

83
Q

Marilyn is a licensed DC salesperson who is putting her own house on the market so that she and her husband-to-be can purchase a new home together and plan their wedding. She knows she won’t be able to keep up with her real estate business for the next six months, so she should probably apply for a(n) ________ status for her license.

Expired
Inactive
On-hold
Suspended

A

Inactive

84
Q

A licensee includes this phrase in a listing: “The solar panels on this home eliminate your electric bill.” The panels reduce the electric bill but hasn’t eliminated it. This is an example of ______.

Exaggeration
Greenwashing
Puffery
Redlining

A

Greenwashing

85
Q

What can happen to a seller who inaccurately or deliberately withholds information on the seller’s disclosure form about a property’s physical condition?

  • Cease and desist orders as well as time in jail
  • Civil fines of not more than $500

-Nothing—the seller’s disclosure is not a warranty

  • The seller, and the seller’s agent, could be held liable for misrepresenting the property’s condition and face litigation from the purchaser
A

The seller, and the seller’s agent, could be held liable for misrepresenting the property’s condition and face litigation from the purchaser

86
Q

In order to fulfill the DC statutory duty to promote the client’s best interests, when must licensee Angelique present offers or counter-offers to her client Sandy?

  • Immediately
    -Promptly until an offer has been accepted
    -Within one hour of receipt
    -Within three business days of receipt
A

Promptly until an offer has been accepted

87
Q
A

DC REAL ESTATE (1 decks)

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