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Professional DC Real Estate Exam: Law Portion Quiz on DC Real Estate Exam: Law Portion, created by ariana.williams1 on 13/05/2016.

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DC Real Estate Exam: Law Portion

Frage 1 von 25

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1. In the District of Columbia, the real estate license law is administered by the:

Wähle eine der folgenden:

  • Department of Housing

  • Real Estate Board

  • Washington, DC Association of REALTORS

  • Department of Housing and Urban Development

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Frage 2 von 25

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2. How are members of the Real Estate Board selected?

Wähle eine der folgenden:

  • By the mayor

  • Public election

  • By the Washington, DC Association of REALTORS

  • Elected by the real estate licensees

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Frage 3 von 25

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3. The real estate board has the authority to

Wähle eine der folgenden:

  • Make and enforce the rules by which all real estate licensees must abide.

  • Compose the examination questions on the state exam.

  • Administer the exams given at the testing sites.

  • Enact the laws that govern real estate licensees.

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Frage 4 von 25

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4. The Real Estate Board may undertake an investigation of a licensee based on all of the following grounds EXCEPT

Wähle eine der folgenden:

  • it's own initiative.

  • a random selection of licensees.

  • a motion from the members of the Real Estate Board.

  • a written comparing submitted by a disgruntled customer.

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Frage 5 von 25

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5. An unlicensed individual who engages in activities for which a real estate license is required is subject to which of the following penalties?

Wähle eine der folgenden:

  • Fine not to exceed $1,000

  • Fine not to exceed $1,000 and one year inprisonment

  • Civil penalty of $10,000 in addition to other penalties provided by law

  • Civil penalty not to exceed $5,000 and a mandatory prison term not to exceed 5 years

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Frage 6 von 25

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6. In the District of Columbia, which of the following is legal and not grounds for license revocation?

Wähle eine der folgenden:

  • Being convicted of a Delong in a jurisdiction

  • Advertising in a newspaper that he or she is a member of the DC Association of Real Estate Professionals when, in fact, he or she is not

  • Depositing escrow money in his or her personal checking account

  • Agreeing with a seller to accept a listing for more than the normal commission rate

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Frage 7 von 25

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7. The Real Estate Board has the power to revoke a salesperson's license if the salesperson

Wähle eine der folgenden:

  • attempts to represent a real estate broker other than his or her employer, after obtaining his or her employer's consent.

  • attempts to represent a buyer.

  • enters into an exclusive-listing contract.

  • deposits a buyer's down payment in his or her own bank account.

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Frage 8 von 25

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8. In the District of Columbia, a broker may have his or her license suspended or revoked for all of the following actions EXCEPT

Wähle eine der folgenden:

  • being declared mentally incompetent.

  • depositing earnest money into the firm's escrow account.

  • helping another person cheat on the licensing examination.

  • displaying a For Sale sign on a property without the owner's consent.

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Frage 9 von 25

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9. For which of the following acts may the Real Estate Board suspend or revoke a licensee's license?

Wähle eine der folgenden:

  • Failing to perform as promised in a guaranteed sales plan

  • Having been found liable in a civil trial for illegal discrimination

  • Commingling others' money or property with her or his own

  • All of the above

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Frage 10 von 25

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10. A person who believes that he or she has been illegally discriminated against may file a complaint with the District of Columbia

Wähle eine der folgenden:

  • Board of REALTORS

  • attorney general.

  • Real Estate Board.

  • Human Rights Commission or HUD

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Frage 11 von 25

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11. A housing discrimination charge must be filed with the District of Columbia Human Rights Commission within

Wähle eine der folgenden:

  • 6 months.

  • 1 year.

  • 2 years.

  • 30 days.

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Frage 12 von 25

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12. The District of Columbia Fair Housing Law is more far reaching than the federal law. However, the District of Columbia law does NOT provide protection to persons on the basis of

Wähle eine der folgenden:

  • sexual orientation

  • age.

  • poor credit history.

  • political affiliation.

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Frage 13 von 25

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13. District of Columbia Fair Housing Law specifically protects college students under the protection for

Wähle eine der folgenden:

  • age.

  • sexual orientation.

  • matriculation.

  • family responsibilities.

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Frage 14 von 25

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14. In the District of Columbia, occupancy of a building can be limited to senior citizens who have attained the age of

Wähle eine der folgenden:

  • 55.

  • 60.

  • 62.

  • 70.

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Frage 15 von 25

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15. A broker is convicted on May 1 of possession and distribution of a controlled substance. Both the crime and the conviction took place outside of DC. On June 15, the broker calls the Real Estate Board and leaves a message informing the Real Estate Board of the conviction. Based on these facts, which of the following is TRUE?

Wähle eine der folgenden:

  • The broker has properly informed the Real Estate Board within 60 days after the conviction so the broker's license may be renewed.

  • Both the conviction and the broker's failure to return the license to the Real Estate Board violate Board regulations.

  • Because the conviction did not occur in DC, it is not evidence of unworthy conduct.

  • The conviction is evidence of both improper dealing and fraud.

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Frage 16 von 25

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16. An aggrieved person is awarded a judgement against a real estate license who violated the District of Columbia License Act. Regarding the Real Estate Guaranty and Education Fund, the aggrieved party has the right to

Wähle eine der folgenden:

  • immediately apply to the District of Columbia Real Estate Board for payment from the Real Estate Guaranty and Education Fund for full judgement amount plus court costs and attorney's fees.

  • a maximum award amount of $50,000 from the Real Estate Guaranty and Education Fund, including court costs and attorney's fees.

  • seek satisfaction from the licensee in a private civil action after being compensated from the Real Estate Guarantee and Education Fund.

  • a $50,000 maximum recovery from the Real Estate Guaranty and Education Fund, but no court costs and attorney's fees.

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Frage 17 von 25

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17. A broker violates the license law, resulting in monetary damages to a consumer. In order to be eligible for a collection from the Real Estate Guaranty and Education Fund, the injured party must file a lawsuit up to

Wähle eine der folgenden:

  • one year after the alleged violation occurred.

  • two years after the alleged violation occurred.

  • three years after the alleged violation occurred.

  • three years after the date on which a professional relationship of trust and accountability commenced.

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Frage 18 von 25

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18. The purpose of the District of Columbia Real Estate Guaranty and Education Fund is to

Wähle eine der folgenden:

  • ensure that District of Columbia real estate licensees have adequate funds available to pay their licensing and continuing education fees.

  • provides a means for compensation for actual monetary losses suffered by individual consumers as a result of the acts of a licensee in violating the license law or committing other illegal acts related to a real estate transaction.

  • protect the Real Estate Board from claims by individual that they have suffered a monetary loss as a result of the acts of a licensee in violating the license law or committing other illegal acts related to a real estate transaction.

  • provide an interest-generating source of revenue to fund the activities of the Real Estate Board.

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Frage 19 von 25

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19. Who may receive compensation from the Real Estate Guaranty and Education Fund?

Wähle eine der folgenden:

  • Broker who does not receive an earned commission

  • Sellers who pays a commission to a broker under false pretenses

  • Buyer who pays a fee to a broker under a buyer agency agreement

  • Cooperating broker who does not receive a commission split

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Frage 20 von 25

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20. The maximum compensation that will be paid from the Real Estate Guaranty and Education Fund for any single transaction is

Wähle eine der folgenden:

  • $5,000

  • $10,000

  • $50,000

  • $550,000

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Frage 21 von 25

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21. Whenever the Board is required to satisfy a claim against a licensee with money from the Real Estate Guaranty and Education Fund, the licensee

Wähle eine der folgenden:

  • may continue engaging in real estate activities under the board's direct supervision.

  • must repay the full amount plus interest to the fund if his or her license to be reinstated.

  • may face additional charges by the aggrieved party who may force the sale of any property newly acquired by the defendant license.

  • must thereafter pay $25 per year into the fund when applying to renew his or her license.

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Frage 22 von 25

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22. What is the minimum balance of the District of Columbia Real Estate Guaranty and Education Fund?

Wähle eine der folgenden:

  • $635,500

  • $750,000

  • $895,000

  • $1,040,000

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Frage 23 von 25

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23. After all requirements have been satisfied, a payment is made from the Real Estate Guaranty and Education Fund owing to the improper activities of a licensee. What happens when the payment is made?

Wähle eine der folgenden:

  • The license is automatically suspended.

  • The Real Estate Board takes no further action if the licensee repays the fund within 30 days.

  • The licensee's license is automatically revoked.

  • The licensee is subject to a fine of $2,000.

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Frage 24 von 25

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24. A broker commits a fraudulent act in connection with the sale of a property on March 15, 2015. On March 30, the transaction closes. On November 1, the client sues the broker, alleging fraud. On December 20, the jury finds in favor of the client. When must the client file a claim with the Real Estate Board to recovery money from the Real Estate Guaranty and Education Fund?

Wähle eine der folgenden:

  • Within 30 days following the illegal activity, in this case, by April 15, 2015.

  • Within one year after having been awarded a judgement by the courts, in this case, by December 20, 2016

  • Within one year of filing suit, in this case, by November 1, 2016

  • Within two years of the date of closing, in this case, by March 30, 2008

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Frage 25 von 25

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25. In the District of Columbia, who of the following would need to be a licensed real estate broker?

Wähle eine der folgenden:

  • Person who employs fewer than three leasing agents

  • Licensed attorney acting under a power of attorney to convey real estate

  • Resident apartment manager working for an owner if the manager's primary residence is the apartment building being managed

  • Partnership selling a building owned by the partners

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