Exam Cheat Sheet · Quick Reference

Real Estate Broker Delaware State

Delaware  ·  Pearson Vue

Verified, not estimated. Every figure below is drawn from the official exam structure we maintain — question counts, passing standard and topic weighting. Practice questions are grounded in the source law with statute citations. We omit any figure we can't verify rather than guess at it.
Total questions
50
Passing score
70%
Exam time
60 min
Administered by
Pearson Vue
Format
Closed-book

Delaware State Portion 50 questions

Duties and Powers of the Real Estate Commission 4 Q · 8%
Purpose, powers, and compositionInvestigations, hearings, and appealsSanctions - reprimand, suspension, revocation, fines, and probationGuaranty Fund
Licensing Requirements 3 Q · 6%
Activities requiring a licenseTypes of licensesEligibility for licensingLicense renewalContinuing educationChange in license
Statutory Requirements Governing the Activities of Licensees 17 Q · 34%
AdvertisingBroker/associate broker/salesperson relationshipDisclosures - 3 Seller's Disclosure of Real Property Condition Report forms and the Exemption Property Certification form; radon disclosure and exemptions; other (leases, agricultural-related disclosures, etc.); Psychologically Impacted PropertiesHandling of documentsHandling of moniesPublic responsibility - unfair inducements; unauthorized practice of law; unauthorized appraisals and CMAsAgency relationships and issues - Consumer Information Statement; confidentiality; permitted actions; statutory duties; presumed agency and dual agencyVoluntary Treatment Options (Rule 14)
Additional State Topics 16 Q · 32%
Unit Property Act (condos)Delaware Uniform Common Interest Ownership Act (DUCIOA) - resale certification form and its contents; applicability of the statute; escrow deposits for homebuildersLandlord-Tenant codeTransfer taxesOwnership and deeds - title; forms of ownership; Unimproved land – Notice to Buyer Regarding Sewer/WaterDelaware Fair Housing Act - Protected Statuses; EnforcementSurveyDNREC Wastewater Regulations and site evaluationSign placement – Clear Zone Safety LawSeller financing - purchase money mortgagesTax ditchManufactured housing right of first offer/refusal +5 more
Broker Only 10 Q · 20%
Escrow accountsExamination of recordsEligibility for licensingPlace of business - supervisionForeclosure consultantsManufactured homes/department of motor vehicles (DMV)New Home Buyer Protection Act – Escrow unfinished workCommercial Broker's LienConditional/installment sales agreementsMortgage Loan Modification Services – Coverage and Exemption

Key Distinctions

Salesperson license minimum agevsAssociate broker license minimum age

An applicant for a salesperson's license must be at least 18 years of age, while an applicant for an associate broker's license must be at least 23 years of age.

Delaware Code Title 24, §2907(b)(2)
Sale that becomes a lease through continuous negotiationsvsLease that later becomes a sale

If a brokerage agreement contemplated a sale and continuous negotiations convert it to a lease, the broker is still entitled to compensation; but if the initial transaction was a lease that later became a sale, the broker is NOT entitled to compensation unless the listing agreement, other compensation agreement, or lease provided for compensation on a later sale.

Delaware Code Title 24, §2930(a)
Statutory agentvsCommon law agent

Unless specifically hired as a common law agent by a written brokerage agreement, a Delaware licensee is a statutory agent and not a common law agent for any party.

Delaware Code Title 24, §2936(a)
BrokervsBrokerage organization

A broker is a licensed individual who, for compensation, is self-employed or employed directly or indirectly by a brokerage organization, whereas the brokerage organization itself is not licensed but is the trade name under which the broker operates and must have a broker licensed under Chapter 29.

Delaware Code Title 24, §2902(a)(2)
Unit (Unit Property Act)vsCommon elements (Unit Property Act)

A unit is a part of the property designed for independent use with a direct exit to a public street, way, or common element, and is separate from common elements, which include land, foundations, structural parts, yards, parking areas, driveways, central services, and utilities.

Delaware Code Title 25, § 2202(3) and § 2202(19)
Delaware Fair Housing Act protected statusvsFederal Fair Housing Act protected status

Delaware additionally protects source of income (any lawful source of money paid directly, indirectly, or on behalf of a renter or buyer, including government assistance), which is not a federal protected status, while familial status, national origin, and disability are protected under both.

Delaware Code Title 6, § 4601(a) and § 4602(29)
Consumer Information Statement (CIS) as the authorization for cooperative activitiesvsSeparate written authorization from the customer or client

Generally a licensee may undertake a cooperating licensee's requested activity only after disclosing the request to the customer or client and receiving written authorization; but if the broker's business model includes offering all services explained in the CIS rather than separate charges for distinct services, the CIS itself is sufficient disclosure or written authorization.

Delaware Code Title 24, §2935(c)
Duty to cooperate with other licenseesvsObligation to share commissions

Licensees must cooperate with all other licensees in a transaction (including being reasonably available to accept delivery of and present offers and counteroffers) except when cooperation is not in the customer's or client's best interest, but the duty to cooperate includes no obligation to share commissions or otherwise compensate another licensee.

Delaware Code Title 24, §2935(b)(1)
Escrow deposit in the name of the brokerage organizationvsDeposit held by a different third-party escrow agent

All escrow deposits accepted by a licensee must be accepted in the name of the brokerage organization (not the licensee personally) unless the parties have agreed to a different third-party escrow agent.

Delaware Code Title 24, §2923(c)
Seller's Disclosure of Real Property Condition ReportvsA warranty or inspection

The seller's completed disclosure form is a good faith effort to make the required disclosures and is not a warranty of any kind by the seller or any agents or subagents, nor a substitute for inspections or warranties the parties may wish to obtain.

Delaware Code Title 6, § 2574
New Home Buyer Protection Act escrow of funds for unfinished workvsBuyer withholding funds at final settlement

Where the vendor and buyer agree that the buyer may withhold at final settlement moneys otherwise subject to escrow, that arrangement is deemed in compliance with the escrow requirements.

Delaware Code Title 25, § 3602(f)
Home inspection scopevsCondominium/cooperative common areas

A home inspection is a visual analysis for the purpose of providing a written professional opinion of the condition of a residential building and its components and systems, and the definition specifically excludes the common areas of condominiums or cooperatives.

Delaware Code Title 24, § 4102(5)

Key Terms

Primary objective of the Delaware Real Estate Commission Delaware Administrative Code 2900, § 2900(a)
To protect the general public from unsafe practices and from occupational practices which tend to reduce competition or fix the price of services rendered; all other objectives are secondary.
Real Estate Guaranty Fund maximum recovery Delaware Code Title 24, § 2922(a)
Recovery from the Fund may not exceed $25,000 in the aggregate in connection with any one transaction or claim, regardless of the number of persons aggrieved or parcels involved.
Probationary status violation Delaware Administrative Code 2900, § 2914(d)
Where the Commission placed a licensee on probation under restrictions or conditions and determines those conditions are being or have been violated, it may, after a hearing, suspend or revoke the license.
Unlicensed practice prohibition Delaware Code Title 24, §2901(a)
No person may engage in providing real estate services or hold themselves out to the public as qualified to do so unless duly licensed under the Delaware real estate licensing chapter.
Broker's escrow account Delaware Code Title 24, §2923(a)
Every broker must establish and maintain an escrow account in a federally insured banking institution that has offices within the State of Delaware, and the broker must be a signatory on each escrow account.
Escrow record inspection Delaware Code Title 24, §2923(e)
The broker must keep all books, records, written agreements, and other necessary documents accessible at the broker's approved place of business, open to inspection or audit by the Commission and its duly authorized agents during regular business hours.
Postdated earnest money deposit Delaware Administrative Code 2900, Rule 6.2
Unless agreed to in writing by the parties, a licensee may not accept as a good faith or earnest money deposit a postdated check or draft, or a photocopy, facsimile, or other copy of a personal check or draft.
Compensation through the broker Delaware Code Title 24, §2930(d)
All compensation relating to a real estate services transaction to be paid to a licensee must be paid through the broker or brokerage organization.
Written brokerage agreement (compensation) Delaware Code Title 24, §2930(a)
No buyer, tenant, seller, or landlord is obligated to pay compensation to a broker unless that party has entered into a written brokerage agreement with the broker specifying the compensation terms; consumers may also agree in writing to duties beyond those in the Act.
Unlicensed personal assistants Delaware Code Title 24, §2930(d)
Nothing authorizes unlicensed personal assistants, independent contractors, or employees to engage in real estate services activities that by statute or regulation must be performed by a licensee, regardless of supervision.
Duty to report out-of-state discipline Delaware Code Title 24, §2912(a)(15)
A licensee has an affirmative duty to notify the Commission that their license in another jurisdiction has been subject to discipline, surrendered, suspended, or revoked; failure to do so is grounds for discipline.
Conclusive evidence of conviction Delaware Code Title 24, §2912(a)(13)
At a disciplinary hearing, a copy of the record of conviction certified by the clerk of the court entering the conviction is conclusive evidence of a crime conviction substantially related to the practice of real estate services.
Registered sex offender inquiries Delaware Code Title 24, §2936(c)(7)
A licensee shall not disclose any facts or suspicions that any party or someone in the community is a registered sex offender, but if asked shall refer the person to the Delaware State Police to seek that information.
Merchandise (Consumer Fraud Act) Delaware Code Title 6, §2511(6)
Any objects, wares, goods, commodities, intangibles, real estate, or services — so real estate transactions fall within the Consumer Fraud statute.
Unlawful practice (Consumer Fraud Act §2513(a)) Delaware Code Title 6, § 2513(a)
The use of deception, fraud, false pretense, false promise, misrepresentation, unfair practice, or concealment, suppression, or omission of a material fact with intent that others rely on it in connection with the sale, lease, or advertisement of merchandise is unlawful whether or not any person was in fact misled, deceived, or damaged.
Deceptive trade practice (representation of characteristics) Delaware Code Title 6, §2532(a)(5)
It is a deceptive trade practice to represent that goods or services have sponsorship, approval, characteristics, ingredients, uses, benefits, or quantities they do not have — including misrepresenting property characteristics in real estate marketing.
Approved common interest community (DUCIOA) Delaware Code Title 25, § 81-103(3)
A proposed community that has received all legally required zoning and/or subdivision approvals and for which the declarant has entered into one or more written contracts with bona-fide third-party purchasers for construction of units.
Declaration plan (DUCIOA) Delaware Code Title 25, § 81-103(18)
A survey containing the verified statement of a registered architect or licensed professional engineer certifying that the plan fully and accurately shows the location of the condominium or cooperative, the location and layout of the common elements and units, and the name and unit designations (assessed tax values are not included).
Reserve study (Unit Property Act) Delaware Code Title 25, § 2202(16)-(17)
An analysis performed or updated within the last 5 years by independent qualified persons to inform the council and unit owners of the amount that should be maintained in a fully funded repair and replacement reserve.
Vendor (New Home Buyer Protection Act) Delaware Code Title 25, § 3601(7)
Any person, firm, partnership, corporation, or other entity that contracts to sell new dwellings or new residential real property.
Commercial Real Estate Broker's Lien Act requirements Delaware Code Title 6, § 2603
To support a broker's lien, the brokerage agreement must expressly state the amount or method of calculating compensation, state that the agreement is a binding contract under state law, and identify the real estate by description and/or tax parcel number (no notarization, Commission filing, or listing of associate brokers/salespersons is required).
Team name restriction Rule 8.5.2.2
Team names may not include terms suggesting the team is a separate brokerage organization, such as 'Realty', 'Real Estate', or 'Realtors'.

Formulas to Know

Condominium repair and replacement reserve minimum (% of annual budget)Council responsible for 4 or more listed systems/components = at least 15% of annual budget; responsible for 3 = at least 10%; responsible for 2 or fewer = at least 5%.
Maximum Real Estate Guaranty Fund recovery per transaction/claimCap = $25,000 in the aggregate per one transaction or claim, regardless of number of persons aggrieved or parcels involved.
Deadline to deposit escrow moneyDeposit into the broker's escrow account within 72 hours of signing of the written agreement by all parties (or by the dates defined therein), excluding weekends and federal holidays.
Escrow/transaction record retention periodRetain complete records of all moneys received or escrowed for at least 3 years.
New licensee continuing education requirement12 hours of new-licensee CE completed no later than 90 days after the date of license issuance (in addition to standard renewal CE; does not apply to those licensed by reciprocity).
Reciprocity transaction documentation (salesperson)List at least 20 sale or lease transactions completed in a licensed capacity within the 3 years immediately preceding application, plus pass the state portion of the Delaware exam.
License reinstatement windowLicense expired 6 months or more but less than 2 years: pay required late fees + complete the Delaware prelicensing law course + pass the state portion of the licensing examination.
'Control' of a declarant under DUCIOAOwning, controlling, holding with power to vote, or holding proxies representing more than 20% of the voting interest in the declarant.
Substantially total destruction — decision not to rebuild and distributionIf 75% of the unit owners directly affected resolve not to proceed with repair/restoration, the salvage value is subject to partition and net sale proceeds plus insurance proceeds (after discharging liens) are divided among the affected unit owners in proportion to their respective undivided ownership of the common elements.
Short-term rental escrow fee transfer thresholdFor a rental agreement of 120 days or less, the broker may—with written authorization from the broker's principal—transfer a management fee and an amount for authorized repairs or cleaning from escrow, with all amounts reconciled and reflected in a written full accounting.
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