Washington State Specific Real Estate Exam

Washington State Specific Real Estate Exam When must brokers deposit all funds into their firm's trust fund account in relation to a sale/transaction? The next banking day following receipt of funds What happens to the interest accrued by brokers' trust accounts? 75% goes to housing trust fund and 25% goes to real estate education fund How long does a managing broker have to keep records of any real estate transaction? 3 years following the submission of records to the firm Within what time frame does the commission need to be notified of a broker's move to a different firm? 30 days, in writing True or false: the commission budget is part of the state budget False What's the maximum fine the commission may impose for a violation? $1,000 How long do brokers have to notify the Real Estate Commission that they've opened a trust account? Within one month How long does a licensee have to remove ads after a sale or expiration? Ten days Which government entity enforces Fair Housing Law? Washington Commission on Equal Opportunity Under BRRETA, adverse physical conditions must be disclosed if within what distance of the property? One mile How long do managing brokers have to review contracts by independent contractors? 30 days Is dual agency legal in WA State? Yes, with written consent from both parties Organization established by the commission to compensate people damaged through actions of a licensee