Real Estate Exam || Questions with 100% correct answers.
The DC Inventory of Historic Sites correct answers Created when the DC Historic Landmark
and Historic District Protection Act was enacted and combined the Landmark list with the
National Register's catalog of DC properties.
What happens if a DC licensee violates the Fair Housing Law? correct answers They may
receive a civil fine of up to $50,000 and may have to pay compensatory damages for the
complainants.
How many days does the DC Commission have between hearing and decision of a licensee
potentially in violation? correct answers 90 days
Who is responsible for regulating real estate licensees in DC? correct answers The DC Real
Estate Commission
When must a DC Salesperson renew their license? correct answers August 31 of Odd
Number Years
How many days does a Landlord have when floor plans, etc. are requested by tenants after an
offer of sale was given to them? correct answers 7 Days
What may an Attorney General file for if a licensee is engaging in unlawful practices? correct
answers Injuction
Within how many days must a complaintant make a notification to the mayor when beginning
a court case against a DC Licensee? correct answers 30 Days
Within how many days must the tenants of 2-to-4 unit places submit a statement of intrest to
excersise their right to purchase when a land owner is selling the property? correct answers
15 Days if the tenants are collectively excersising the right, and an additional 7 days if
tenants are acting individually.
Real Property tax payments in DC are due twice a year. On which dates are the payments
due? correct answers March 31 and September 15
Is citizenship a requirement to purchase property in DC? correct answers No
What are the terms of service for someone appointed as commissioner on the DC
Commission of Human Rights? correct answers Three years of service without compensation
Advance notice of how many days must be provided to the tenants when converting an
apartment complex to condos? correct answers 120 Days
How many Commissioners serve on the DC commission on Human Rights? correct answers
11
Who or what entity is responsible for protecting the district's historic, archaeological,
agricultural, and cultural resources by working alongside federal agencies? correct answers
State Historic Preservation Office (SHPO)
,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? correct answers Historic Preservation Review
Board
In order to fulfill the DC statutory duty to promote the client's best interests, when must
licensees present offers or counter-offers to their clients? correct answers Promptly until an
offer has been accepted.
Complaints of violations of the Human Rights Act in DC can be filed with who within a year
of a violation? correct answers DC Office of Human Rights (OHR)
What is Greenwashing? correct answers The misrepresentation of a property's energy
efficiency and environmental benefit, generally portraying a property to be more enegry
efficient of environmentally friendly than it actually is.
The DC Commission can impose civil fines for license law violations. Each violation may
garner a fine up to how much? correct answers $5,000
When a licensee's actions could have an immediate negative effect on the public, the mayor
of DC can take what action without an investigation or hearing? correct answers Summarily
suspend the license
Online advertising that contains the licensee's name must also include what? correct answers
The name of the firm the licensee is affiliated with, city/state where the licensee's office is
located, and jurisdiction(s) where the licensee holds a license.
The statutory minimum negotiaiton period for a tenant who has filed a statement of interest
for the offer of sale from the landlord is : correct answers 90 days
Who can legally complete a Seller Disclosure Statement? correct answers Only the seller. A
licensed home inspector can help by giving them information to use to complete the form.
The DC Real Estate Commission may ask both parties to participate in a what prior to a
hearing? correct answers A settlement conference
DC Licensees convicted of criminal charges may face up to a $10,000 fine, as well as :
correct answers Up to one year in jail
If the mayor summarily suspends a license, how long does the licensee have to request a
hearing? correct answers 72 Hours
Members of the DC Real Estate Commission are limited to how many consecutive terms?
correct answers 3
How long does an escrow agent have to deposit earnest money after receiving it from the
buyer? correct answers 7 days
Who may file a fair housing complaint on behalf of others? correct answers Attorney General
,How long must property owners or property managers keep a copy of a signed DC Lead
Disclosure Form? correct answers 6 years
When must Brokers renew their license? correct answers February 28th of odd years
What does the NPMA-33 form document? correct answers The results of an inspection for
wood-destroying insects, such as termites and carpenter ants.
How many hours of Continuing Education must licensee's complete every two years? correct
answers 15 hours
Brokers from Maryland and Virginia may be elegible for DC what licensing? correct answers
Reciprocal
Brokers that wish to change their status to that of an associate broker should do what? correct
answers Notify the commission by certified mail
Are Property Managers in DC required to be licensed? correct answers Yes
DC consumers who believe that they are victims of housing discrimination have how much
time from the alleged violation to file a complaint? correct answers 1 year
What administrative office uses planning, protection, and public education to promote
stewardship of DC's historic properties? correct answers Historic Preservation Office
The DC Real Estate Commission is under the administrative oversight of who/what? correct
answers The DC Mayor
Who is a licensee required to present the disclosure of brokerage relationship form to? correct
answers The parties involved in the transaction whom the licensee doesn't represent.
Buyers have how many days from the date condo documentation and statements are received
to cancel the contract? correct answers Three business days
DC transaction records must be retained for how long? correct answers A minimum of three
years from the closing or transaction termination date
What is true regarding agency disclosure notices in DC? correct answers They are
informational only, but required by law
Who appoints members of the DC Real Estate Commission? correct answers The mayor
selects all commissioners, whose appointments must then be approved by the DC Council.
Sellers must deliver condo docs to prospective buyers on or before what business day from
the date the purchase contract is ratified? correct answers The 10th business day. Buyers can
cancel the contract if the documents aren't received in this time frame.
If a DC property owner is considering donating a conservation easement to the L'Enfant
Trust, what tax benefits may they receive? correct answers The owner may receive a tax
, benefit based on the diminshed value of the property resulting from the placement of the
easement
Who reviews permit requests involving historic properties? correct answers The Mayor's
agent for historic preservation
The amount of earnest money is negotiable between parties, but it must be considered what?
correct answers "Reasonable"
How long is a DC condo developer required to warranty structual defects of a newly
constructed unit? correct answers Two years
The DC Real Estate Commission requires that all professional members have no fewer than
how much experience immediately preceding their appointment? correct answers Five years
A broker's sign must include what? correct answers The brokerage name, address, and must
indicate that the person is a licensed real estate broker
Complaints who wish to bypass the HUD may do so to file a civil suit in a federal district
court. How long do they have to do this? correct answers This must occur within 1 year of the
alleged violation. If a complaint has been filed with the HUD, the deadline for a civil suit is
two years.
If a licensee is found to have lied on their license application, what disciplinary action may
they receive? correct answers License Denial
What type of termite is most likely to cause damages to homes in DC? correct answers
Subterranean Termite
Who or which entity administers the DC Real Estate Guaranty and Education Fund? correct
answers The Real Estate Commission
Claimants have how much time from the date a judgement becomes final to file a claim for
payment from the fund? correct answers 12 months
A very serious disciplinary infraction is likely to result in what? correct answers The
revocation, or at least suspension of a license. A censure, fine, and reprimand are for minor
violations.
What penalties can a licensee face if they are having a hearing off of the basis of
discrimination complaints? correct answers Penalties can include injunctive relief for the
complainants, compensatory damages, reimbursement of attorney fees, back and front pay,
and civil penalties ranging from $10,000 to $50,000 paid to the district government.
What entity provides budget and resource support to the DC Real Estate Commission?
correct answers Department of Consumer and Regulatory Affairs (DCRA). The mayor has
administrative control.
Attorneys may act as brokers without a real estate license under limited circumstances. How
many salespeople may they employ/supervise? correct answers Zero
The DC Inventory of Historic Sites correct answers Created when the DC Historic Landmark
and Historic District Protection Act was enacted and combined the Landmark list with the
National Register's catalog of DC properties.
What happens if a DC licensee violates the Fair Housing Law? correct answers They may
receive a civil fine of up to $50,000 and may have to pay compensatory damages for the
complainants.
How many days does the DC Commission have between hearing and decision of a licensee
potentially in violation? correct answers 90 days
Who is responsible for regulating real estate licensees in DC? correct answers The DC Real
Estate Commission
When must a DC Salesperson renew their license? correct answers August 31 of Odd
Number Years
How many days does a Landlord have when floor plans, etc. are requested by tenants after an
offer of sale was given to them? correct answers 7 Days
What may an Attorney General file for if a licensee is engaging in unlawful practices? correct
answers Injuction
Within how many days must a complaintant make a notification to the mayor when beginning
a court case against a DC Licensee? correct answers 30 Days
Within how many days must the tenants of 2-to-4 unit places submit a statement of intrest to
excersise their right to purchase when a land owner is selling the property? correct answers
15 Days if the tenants are collectively excersising the right, and an additional 7 days if
tenants are acting individually.
Real Property tax payments in DC are due twice a year. On which dates are the payments
due? correct answers March 31 and September 15
Is citizenship a requirement to purchase property in DC? correct answers No
What are the terms of service for someone appointed as commissioner on the DC
Commission of Human Rights? correct answers Three years of service without compensation
Advance notice of how many days must be provided to the tenants when converting an
apartment complex to condos? correct answers 120 Days
How many Commissioners serve on the DC commission on Human Rights? correct answers
11
Who or what entity is responsible for protecting the district's historic, archaeological,
agricultural, and cultural resources by working alongside federal agencies? correct answers
State Historic Preservation Office (SHPO)
,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? correct answers Historic Preservation Review
Board
In order to fulfill the DC statutory duty to promote the client's best interests, when must
licensees present offers or counter-offers to their clients? correct answers Promptly until an
offer has been accepted.
Complaints of violations of the Human Rights Act in DC can be filed with who within a year
of a violation? correct answers DC Office of Human Rights (OHR)
What is Greenwashing? correct answers The misrepresentation of a property's energy
efficiency and environmental benefit, generally portraying a property to be more enegry
efficient of environmentally friendly than it actually is.
The DC Commission can impose civil fines for license law violations. Each violation may
garner a fine up to how much? correct answers $5,000
When a licensee's actions could have an immediate negative effect on the public, the mayor
of DC can take what action without an investigation or hearing? correct answers Summarily
suspend the license
Online advertising that contains the licensee's name must also include what? correct answers
The name of the firm the licensee is affiliated with, city/state where the licensee's office is
located, and jurisdiction(s) where the licensee holds a license.
The statutory minimum negotiaiton period for a tenant who has filed a statement of interest
for the offer of sale from the landlord is : correct answers 90 days
Who can legally complete a Seller Disclosure Statement? correct answers Only the seller. A
licensed home inspector can help by giving them information to use to complete the form.
The DC Real Estate Commission may ask both parties to participate in a what prior to a
hearing? correct answers A settlement conference
DC Licensees convicted of criminal charges may face up to a $10,000 fine, as well as :
correct answers Up to one year in jail
If the mayor summarily suspends a license, how long does the licensee have to request a
hearing? correct answers 72 Hours
Members of the DC Real Estate Commission are limited to how many consecutive terms?
correct answers 3
How long does an escrow agent have to deposit earnest money after receiving it from the
buyer? correct answers 7 days
Who may file a fair housing complaint on behalf of others? correct answers Attorney General
,How long must property owners or property managers keep a copy of a signed DC Lead
Disclosure Form? correct answers 6 years
When must Brokers renew their license? correct answers February 28th of odd years
What does the NPMA-33 form document? correct answers The results of an inspection for
wood-destroying insects, such as termites and carpenter ants.
How many hours of Continuing Education must licensee's complete every two years? correct
answers 15 hours
Brokers from Maryland and Virginia may be elegible for DC what licensing? correct answers
Reciprocal
Brokers that wish to change their status to that of an associate broker should do what? correct
answers Notify the commission by certified mail
Are Property Managers in DC required to be licensed? correct answers Yes
DC consumers who believe that they are victims of housing discrimination have how much
time from the alleged violation to file a complaint? correct answers 1 year
What administrative office uses planning, protection, and public education to promote
stewardship of DC's historic properties? correct answers Historic Preservation Office
The DC Real Estate Commission is under the administrative oversight of who/what? correct
answers The DC Mayor
Who is a licensee required to present the disclosure of brokerage relationship form to? correct
answers The parties involved in the transaction whom the licensee doesn't represent.
Buyers have how many days from the date condo documentation and statements are received
to cancel the contract? correct answers Three business days
DC transaction records must be retained for how long? correct answers A minimum of three
years from the closing or transaction termination date
What is true regarding agency disclosure notices in DC? correct answers They are
informational only, but required by law
Who appoints members of the DC Real Estate Commission? correct answers The mayor
selects all commissioners, whose appointments must then be approved by the DC Council.
Sellers must deliver condo docs to prospective buyers on or before what business day from
the date the purchase contract is ratified? correct answers The 10th business day. Buyers can
cancel the contract if the documents aren't received in this time frame.
If a DC property owner is considering donating a conservation easement to the L'Enfant
Trust, what tax benefits may they receive? correct answers The owner may receive a tax
, benefit based on the diminshed value of the property resulting from the placement of the
easement
Who reviews permit requests involving historic properties? correct answers The Mayor's
agent for historic preservation
The amount of earnest money is negotiable between parties, but it must be considered what?
correct answers "Reasonable"
How long is a DC condo developer required to warranty structual defects of a newly
constructed unit? correct answers Two years
The DC Real Estate Commission requires that all professional members have no fewer than
how much experience immediately preceding their appointment? correct answers Five years
A broker's sign must include what? correct answers The brokerage name, address, and must
indicate that the person is a licensed real estate broker
Complaints who wish to bypass the HUD may do so to file a civil suit in a federal district
court. How long do they have to do this? correct answers This must occur within 1 year of the
alleged violation. If a complaint has been filed with the HUD, the deadline for a civil suit is
two years.
If a licensee is found to have lied on their license application, what disciplinary action may
they receive? correct answers License Denial
What type of termite is most likely to cause damages to homes in DC? correct answers
Subterranean Termite
Who or which entity administers the DC Real Estate Guaranty and Education Fund? correct
answers The Real Estate Commission
Claimants have how much time from the date a judgement becomes final to file a claim for
payment from the fund? correct answers 12 months
A very serious disciplinary infraction is likely to result in what? correct answers The
revocation, or at least suspension of a license. A censure, fine, and reprimand are for minor
violations.
What penalties can a licensee face if they are having a hearing off of the basis of
discrimination complaints? correct answers Penalties can include injunctive relief for the
complainants, compensatory damages, reimbursement of attorney fees, back and front pay,
and civil penalties ranging from $10,000 to $50,000 paid to the district government.
What entity provides budget and resource support to the DC Real Estate Commission?
correct answers Department of Consumer and Regulatory Affairs (DCRA). The mayor has
administrative control.
Attorneys may act as brokers without a real estate license under limited circumstances. How
many salespeople may they employ/supervise? correct answers Zero
