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DC Real Estate Law Exam with correct Answers
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DC Real Estate Law Exam with correct Answers
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DC Real Estate Law Exam with correctAnswers
Purpose of the DC Real Estate Commission - Answer -To protect the public from
incompetent and fraudulent practices
Commission Members - Answer -9 members.
3 real estate brokers.
2 salespersons.
2 Property Managers.
1 attorney.
1 consumer member.
Commission terms - Answer -3 years. Max of 3 consecutive 3 year terms
commission membership Requirements - Answer -Active license in DC. Actively
engaged in their field at least for the 5 years prior to appointment and remain active
during appointment.
Do no receive compensation
Exemptions to licensing requirements - Answer -Attorneys. Attorney in fact. executors,
guardians. Someone carrying out court orders. Trustees; auctioneers, owners selling
their own property, government employees carrying out official duties, secretaries in real
estate offices, people providing rental information
Some Licensing Requirements - Answer -Not had an application for real estate license
denied for reasons other than failing the examination within one year prior to applying.
Not had a real estate license revoked within 3 years prior.
No money/fraud related conviction within 5 prior years.
Inactive Status - Answer -Apply and pay a fee to go inactive for up to 5 years. To
reactivate must pay a fee, guaranty fund assessment and compliance with CE.
Renewal - Answer -15 hrs of CE during each 2 year licensing period. Completed at least
2 months prior to renewal. 9 hrs on required topics. Licenses expire on August 31st in
odd years.
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