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Real Estate Salesperson Exam — National Portion

Recovery fund (DE): practice questions

Our Real Estate (National) bank has 5 questions on this topic. Here are 5 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Delaware

Below what balance must the Commission assess licensees to replenish the Guaranty Fund?

  1. $250,000
  2. $350,000
  3. $1,000,000
  4. $150,000
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A. $250,000 — 24 Del. C. 2922(i), (j).

Question 2 · Delaware

After the Fund pays a claim on a licensee's account, what may the licensee be required to do before getting a new license?

  1. Pay a flat $5,000 reinstatement fee
  2. Repay the amount in full plus interest
  3. Retake the pre-licensing course only
  4. Nothing if discharged in bankruptcy
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B. Repay the amount in full plus interest — 24 Del. C. 2922(d).

Question 3 · Delaware

How much does each Delaware licensee pay into the Guaranty Fund, absent a special assessment?

  1. $50, paid only once
  2. $25 at every renewal
  3. $25, paid only once
  4. $10 at every renewal
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C. $25, paid only once — 24 Del. C. 2922(h).

Question 4 · Delaware

How soon after obtaining a final judgment must an aggrieved person file a verified claim against the Guaranty Fund?

  1. Within 1 year
  2. Within 60 days
  3. Within 90 days of the verdict
  4. Within 30 days
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B. Within 60 days — 24 Del. C. 2922(b).

Question 5 · Delaware

What is the most the Delaware Real Estate Guaranty Fund will pay in connection with any one transaction?

  1. $100,000
  2. $75,000
  3. $25,000
  4. $50,000
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D. $50,000 — 24 Del. C. 2922(a).

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