WA State exam 2023 questions and answers graded A
What disciplinary action will occur if a Washington broker disregards a child support order? Answer- License suspension
When may a licensee receive compensation in Washington based on an appraisal result at or above a specific prearranged price? Answer- It's illegal in all circumstances.
How is the Washington managing broker's exam presented? Answer- As a simulation-
based exam
In Washington, which agency is authorized to disseminate and enforce real estate licensing laws? Answer- Department of Licensing
Deana is a broker for North Washington Realty, LLC, and is the listing broker from a property. In this transaction, what kinds of compensation is she entitled to receive from payors other than her brokerage firm? Answer- All compensation must be paid through her broker
With which entity is Washington's DOL director partnered in order to create a real estate
research center? Answer- The Runstad Center for Real Estate Studies
The Washington Department of Licensing cancelled Karen's license after one year because she didn't renew it. Another six months has passed since her license was cancelled. What does Karen have to do to get her license back? Answer- Complete 60 clock hours of continuing education coursework and file an affidavit of reactivation with the DOL.
Karl plans to shop around for his mortgage loan to be sure he's getting the best interest rate and terms. What document from his lender permits him to make comparisons? Answer- The Loan Estimate permits Kenneth to comparison shop.
Which of the following types of compensation are prohibited in Washington? Answer- Referral fees from settlement service providers to licensees
Frank, a Washington broker, wants to open his own Washington real estate firm. Which of the following statements is true? Answer- Frank must either hire or be endorsed as a
designated broker.
In Washington, which of the following statements regarding seller agency is true? Answer- A seller's agent represents the seller, while the buyer's agent represents the buyer. Which of these is an example of commingling in Washington? Answer- Mixing earnest money with personal funds
How long must confidential information remain confidential? Answer- Forever
Though Washington Administrative Code does allow the DOL director to develop written
recognition agreements with other states, in practice, what qualifies licensees from other states to take only the state portion of the Washington licensing exam? Answer- A similar license in good standing from another state
In addition to passing a licensing exam and providing background qualifications and a credit report, Washington escrow agents must provide proof that they hold what type of insurance policy? Answer- Errors and omissions
If a property management trust account in Washington bears interest, to whom must the
interest be distributed? Answer- The property owner
In Washington, which agency is responsible for approving real estate schools and education? Answer- Department of Licensing
Tamara is assisting a buyer who's making an offer on her client's listing in Renton. Tamara and the buyer develop a good rapport, and in her desire to be helpful, Tamara offers the buyer advice about how to structure her offer. What does Tamara risk being charged with? Answer- Undisclosed dual agency
After a Washington lease agreement expires and a tenant vacates the property, leaving it in good condition, how long does the landlord have to return the security deposit? Answer- 21 days
Which of the following is a reason that a proposed real estate company name may be rejected by the Washington State Department of Licensing? Answer- The name implies
affiliation with the government.
Branch managers in Washington can supervise licensees and review their contracts if these duties are ______ by the designated broker. Answer- Delegated
Which document is signed and agreed to at closing and reconciles what the final financial obligations are for both the buyer and seller? Answer- Closing statement
In Washington, a designated broker ______. Answer- Holds a managing broker's license with a special DOL endorsement
Cheryl Ann received a summary judgment from the DOL because she did not ______ within 20 days of receiving notice of a DOL investigation Answer- Request a hearing
What disciplinary action will occur if a Washington broker disregards a child support order? Answer- License suspension
When may a licensee receive compensation in Washington based on an appraisal result at or above a specific prearranged price? Answer- It's illegal in all circumstances.
How is the Washington managing broker's exam presented? Answer- As a simulation-
based exam
In Washington, which agency is authorized to disseminate and enforce real estate licensing laws? Answer- Department of Licensing
Deana is a broker for North Washington Realty, LLC, and is the listing broker from a property. In this transaction, what kinds of compensation is she entitled to receive from payors other than her brokerage firm? Answer- All compensation must be paid through her broker
With which entity is Washington's DOL director partnered in order to create a real estate
research center? Answer- The Runstad Center for Real Estate Studies
The Washington Department of Licensing cancelled Karen's license after one year because she didn't renew it. Another six months has passed since her license was cancelled. What does Karen have to do to get her license back? Answer- Complete 60 clock hours of continuing education coursework and file an affidavit of reactivation with the DOL.
Karl plans to shop around for his mortgage loan to be sure he's getting the best interest rate and terms. What document from his lender permits him to make comparisons? Answer- The Loan Estimate permits Kenneth to comparison shop.
Which of the following types of compensation are prohibited in Washington? Answer- Referral fees from settlement service providers to licensees
Frank, a Washington broker, wants to open his own Washington real estate firm. Which of the following statements is true? Answer- Frank must either hire or be endorsed as a
designated broker.
In Washington, which of the following statements regarding seller agency is true? Answer- A seller's agent represents the seller, while the buyer's agent represents the buyer. Which of these is an example of commingling in Washington? Answer- Mixing earnest money with personal funds
How long must confidential information remain confidential? Answer- Forever
Though Washington Administrative Code does allow the DOL director to develop written
recognition agreements with other states, in practice, what qualifies licensees from other states to take only the state portion of the Washington licensing exam? Answer- A similar license in good standing from another state
In addition to passing a licensing exam and providing background qualifications and a credit report, Washington escrow agents must provide proof that they hold what type of insurance policy? Answer- Errors and omissions
If a property management trust account in Washington bears interest, to whom must the
interest be distributed? Answer- The property owner
In Washington, which agency is responsible for approving real estate schools and education? Answer- Department of Licensing
Tamara is assisting a buyer who's making an offer on her client's listing in Renton. Tamara and the buyer develop a good rapport, and in her desire to be helpful, Tamara offers the buyer advice about how to structure her offer. What does Tamara risk being charged with? Answer- Undisclosed dual agency
After a Washington lease agreement expires and a tenant vacates the property, leaving it in good condition, how long does the landlord have to return the security deposit? Answer- 21 days
Which of the following is a reason that a proposed real estate company name may be rejected by the Washington State Department of Licensing? Answer- The name implies
affiliation with the government.
Branch managers in Washington can supervise licensees and review their contracts if these duties are ______ by the designated broker. Answer- Delegated
Which document is signed and agreed to at closing and reconciles what the final financial obligations are for both the buyer and seller? Answer- Closing statement
In Washington, a designated broker ______. Answer- Holds a managing broker's license with a special DOL endorsement
Cheryl Ann received a summary judgment from the DOL because she did not ______ within 20 days of receiving notice of a DOL investigation Answer- Request a hearing
