DC State Portion Exam Flashcards

DC State Portion Exam Flashcards Malcolm let his DC real estate license expire four years ago. Now that his daughter is starting school, he wants to reinstate his license. How much continuing education does he need to complete in order to reinstate his license?15 hours20 hours30 hoursFive hours 30 hours 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 most likely 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 coursesDustin, a licensed Virginia salesperson with a decade of experience and more than 180 hours of broker educationGeorgia, a real estate salesperson with three years of experience who has completed 135 hours of broker educationHoward, a broker with six years of experience in Iowa who is moving to DC Annette, a real estate salesperson who has four years of real estate experience and has completed 60 hours of broker real estate courses 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.Yes, Joan must notify the mayor within 30 days of the date she began her action.Tres is a DC real estate salesperson. He received his license on March 3, 2018. By what date will Tres have to renew his license?August 31, 2019December 31, 2018December 31, 2019March 3, 2019 August 31, 2019 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 transactionIf 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.At the first substantive discussion about a specific property the licensee has with the party he or she is not representing in the transaction

A DC broker discloses to a potential buyer that she's not only the listing agent, but also the owner of the property the buyer's interested in. She makes this disclosure of personal interest because ______.It is required under DC lawIt will give her the upper hand in negotiationsThe buyer expressed an interest in becoming a real state licenseeThis tactic will usually make buyers offer more money It is required under DC law Which of the following statements is true regarding public attendance at DC Real Estate Commission meetings?All commission meetings are open to the public.Commissioners may each invite two consumers to each meeting.Consumers must request attendance passes in advance.Members of the public are only invited to quarterly meetings.All commission meetings are open to the public.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) ________.Cease-and-desist orderCensureInjunctionSummary suspension Summary suspension Darnell is a DC real estate licensee whose former client filed a complaint against him. The real estate commission may impose sanctions if he is found guilty of any violations.What other entity may pursue penalties against Darnell?Attorney generalDirector of BPLADirector of DCRAPresident of the DC Council Attorney general The DC Real Estate Commission is overseeing a hearing for licensee Doug Jones, who was accused of mishandling both client and broker funds. The complainants are also talking to the DA about possible criminal charges. Civil fines are one thing, but if Doug is found guilty in a criminal proceeding, what maximum fine might he face?$10,000$15,000$25,000$5,000(Criminal convictions may lead to a fine of up to $10,000, as well as up to a year in prison.)

$10,000

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?Enzo had a claim filed against him.Enzo's license is up for renewal.The fund dipped below a minimum balance amount.The fund is investing funds in a new market.The fund dipped below a minimum balance amount.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 officeJason and Kendra's licenses must be displayed at the Sunburst officeJason's license must be displayed at the Sunburst andGarnet offices; Kendra's license must be displayed at theGarnet officeKendra's license must be displayed at the Sunburst office; Jason's license must be displayed at the Garnet office Jason's license must be displayed at the Sunburst and Garnet offices; Kendra's license must be displayed at the

Garnet office In which of the following scenarios is a DC Seller's Disclosure Statement required?Beth is selling a duplex.Haley is selling a 12-unit midrise apartment building.Jaime is selling a building with three outpatient surgical suites.Mina is selling warehouse facility.Beth is selling a duplex.Carmen is the vice-president of a DC investment firm that wants to start offering real estate sales services for its clients. Which of the following statements is true about the firm's submission of a broker license application?Anyone involved in providing real estate services needs to hold a DC real estate license.As a vice-president, Carmen must first get her real estate license.The executive leadership team must first obtain real estate licenses.The firm must be incorporated in DC.Anyone involved in providing real estate services needs to hold a DC real estate license.Who appoints members of the DC Real Estate Commission?The commission executive directorThe DC Council chairpersonThe mayorThe outgoing commissioners The mayor In DC, associate brokers are ______.Brokers-in-trainingBrokers who choose to be supervised by another brokerBrokers with supervising authoritySalespersons Brokers who choose to be supervised by another broker Carl lives in a three-unit DC rental property owned by Margaret. Which of these is the most inclusive statement about Carl's petition rights and responsibilities?Carl must submit a statement of interest within seven days if the tenant organization doesn't submit one within 15 days of the offer of sale. The law then allows a minimum 120 day negotiation period after the statement of intent is received.Margaret has seven days to provide tenants with a with a requested copy of a third-party property contract; if the tenant organization fails to file a statement of interest within seven days of the offer of sale, Carl has 15 additional days to do so.Tenants have seven days after the