DC Property Manager Study guides, Class notes & Summaries

DC Property Managers Study Guide (Complete) 2024 Questions & Answers Already Passed!!

DC Property Manager Exam – Questions with correct Answers

In addition to disciplinary sanctions imposed by the DC Real Estate Commission, licensees may face a(n) ________ if the attorney general files for one in superior court. - ANSWER Injunction How often do DC real estate licensees contribute to the Guaranty and Education Fund? - ANSWER Upon initial licensure and at every license renewal Typically, a panel oversees a hearing for a DC license law violation rather than the full real estate commission. The hearing panel comprises at least how many...

Management Plan - ANSWER 1. Current use 2. Current condition 3. Fiscal projections 4. Operational issues Market Analysis - ANSWER Regional and neighborhood evaluation focusing on: 1. Demographic conditions 2. Geographic features 3. Governmental perspective 4. Existing real estate supply 5. Future developments 6. Tenant demand

Management Plan - ANSWER This describes in detail the subject property's current use along with its physical condition, fiscal projections, and any operational issues. It also includes an analysis of the market (both regional and neighborhood), the competing properties, as well as potential improvements or alternative uses for the subject property. Market Analysis - ANSWER This focuses on both a regional and neighborhood evaluation, which includes the demographic conditions, geographic fe...

The DC commission can impose civil fines for license law violations. Each violation may garner a fine up to ______. - ANSWER $5,000 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? - ANSWER Yes, Joan must notify the mayor within 30 days of the date she began her actio

Real estate law in DC created by... - ANSWER City Council How many members in DREC? Terms run? - ANSWER 9 (3 brokers, 2 salespersons, 2 property managers, 1 attorney, 1 consumer not in real estate profession)--must be in field for 5 years 3 years (max 3 consecutive terms) Must take DC test within....of completing education - ANSWER 1 year

Management Plan - ANSWER Assists the owner in meeting their goals while maximizing the property's value and return. The plan describes in detail the subject property's current use along with it's physical condition, fiscal projections, and operational issues (includes an analysis of the market regional & neighborhood). Organizational and educational programs available to assist in enhancing the property manager's knowledge, identifying resources to resolve issues, and expanding their bu...

Trina applied for inactive status for her DC broker's license when her son was diagnosed with leukemia four years ago. How long does she have to reactivate her license from the time it was made inactive? - ANSWER 5 years which entity provides budget and resource support to the DC real estate commission? - ANSWER department of consumer and regulatory affairs colin was found guilty of a minor violation of dc license law. the commission decided that Colin needed remediation, which in this ca...

Management Plan correct answers The plan describes in detail the subject property's current use along with its physical condition, fiscal projections, and any operational issues. It also includes an analysis of the market (both regional and neighborhood), the competing properties, as well as potential improvements or alternative uses for the subject property. These items will be discussed further in this section. Market Analysis correct answers A ______ focuses on both a regional and neighbo...

Which of the following statements best describes the items required in the online disclosure required on a DC real estate firm-owned web page? Firm's licensed name, city/state of main office, city/state of all branch offices, jurisdiction in which the firm holds a license Firm's licensed name, city/state of main office, jurisdiction in which the firm holds a license Firm's licensed name, city/state of main office, names of all licensees working out of the main office, jurisdiction in...