Charlie represents Sue, a buyer, in Redmond. Charlie is being paid by Claude, the
seller, through his brokerage. What's true about this situation?
Charlie is Claude's agent.
Sue is Claude's customer.
This doesn't change the agency relationships.
This is undisclosed dual agency.
Give this one a try later!
This doesn't change the agency relationships.
Rebecca receives an earnest money deposit in the amount of $12,000. Which of the
following statements best describes the deposit of this trust money?
,Rebecca may deposit it in the firm's regular trust account.
Rebecca must deposit it in an individual trust account set up for just this client.
Rebecca must deposit the funds in a non-interest bearing trust account.
Rebecca must deposit the funds into a DOL special trust fund account.
Give this one a try later!
**Rebecca may deposit it in the firm's regular trust account.
Can a Washington firm pay its business expenses directly out of a trust account?
No, they must be paid from a regular business account at the same bank
Only if it is via signature of a promissory note
Yes, by using a personal check from any licensees from the firm
Yes, They can be paid directly out of the trust funds themselves
Give this one a try later!
No, they must be paid from a regular business account at the same bank
Which of the following scenarios is an example of corrective maintenance that a
property manager may oversee?
Hiring an HVAC contractor to inspect the air conditioner annually
Oiling door hinges every six months
Replacing a section of roof after a leak
Replacing furnace filters according to the manufacturer-suggested timeline
,Give this one a try later!
Replacing a section of roof after a leak
A(n) ______ budget helps property managers maximize profitability and avoid
unforeseen major expenses and repairs.
Cash reserve
Expense
Operating
Stabilized
Give this one a try later!
Operating
George is a buyer closing on a home purchase for which he's obtaining financing. He
receives a Loan Estimate from his lender. What's the purpose of this document?
To detail the amount George needs to bring to closing
To detail the estimated closing costs for George's loan
To disclose the interest rates available on this lender's various loan programs
To disclose the lender's source of loan funds
Give this one a try later!
To detail the estimated closing costs for George's loan
, Jean is a branch manager in Washington. For which of the following tasks must Jean
have specific permission from her designated broker?
Completing monthly trust account reconciliations
Hiring branch office licensees
Setting the hours that the branch office will be open
Transferring or releasing branch office licensees
Give this one a try later!
Completing monthly trust account reconciliations
The ______ Division oversees all licensed professions in Washington.
Business and Professions
Legislative
Licensing
Real Estate
Give this one a try later!
Business and Professions
Robert's Washington license was immediately restricted when he received notice that
a complaint had been filed against him and an investigation would follow. What's the
earliest that a hearing can be held after the notice is served?
30 days
45 days
60 days
As soon as possible
seller, through his brokerage. What's true about this situation?
Charlie is Claude's agent.
Sue is Claude's customer.
This doesn't change the agency relationships.
This is undisclosed dual agency.
Give this one a try later!
This doesn't change the agency relationships.
Rebecca receives an earnest money deposit in the amount of $12,000. Which of the
following statements best describes the deposit of this trust money?
,Rebecca may deposit it in the firm's regular trust account.
Rebecca must deposit it in an individual trust account set up for just this client.
Rebecca must deposit the funds in a non-interest bearing trust account.
Rebecca must deposit the funds into a DOL special trust fund account.
Give this one a try later!
**Rebecca may deposit it in the firm's regular trust account.
Can a Washington firm pay its business expenses directly out of a trust account?
No, they must be paid from a regular business account at the same bank
Only if it is via signature of a promissory note
Yes, by using a personal check from any licensees from the firm
Yes, They can be paid directly out of the trust funds themselves
Give this one a try later!
No, they must be paid from a regular business account at the same bank
Which of the following scenarios is an example of corrective maintenance that a
property manager may oversee?
Hiring an HVAC contractor to inspect the air conditioner annually
Oiling door hinges every six months
Replacing a section of roof after a leak
Replacing furnace filters according to the manufacturer-suggested timeline
,Give this one a try later!
Replacing a section of roof after a leak
A(n) ______ budget helps property managers maximize profitability and avoid
unforeseen major expenses and repairs.
Cash reserve
Expense
Operating
Stabilized
Give this one a try later!
Operating
George is a buyer closing on a home purchase for which he's obtaining financing. He
receives a Loan Estimate from his lender. What's the purpose of this document?
To detail the amount George needs to bring to closing
To detail the estimated closing costs for George's loan
To disclose the interest rates available on this lender's various loan programs
To disclose the lender's source of loan funds
Give this one a try later!
To detail the estimated closing costs for George's loan
, Jean is a branch manager in Washington. For which of the following tasks must Jean
have specific permission from her designated broker?
Completing monthly trust account reconciliations
Hiring branch office licensees
Setting the hours that the branch office will be open
Transferring or releasing branch office licensees
Give this one a try later!
Completing monthly trust account reconciliations
The ______ Division oversees all licensed professions in Washington.
Business and Professions
Legislative
Licensing
Real Estate
Give this one a try later!
Business and Professions
Robert's Washington license was immediately restricted when he received notice that
a complaint had been filed against him and an investigation would follow. What's the
earliest that a hearing can be held after the notice is served?
30 days
45 days
60 days
As soon as possible
