WA STATE PORTION EXAM (Andrei) Questions & Answers Correct 100%

Business Opprtunity includes (4) - ANSWERS1 Business 2 Business Entity 3 Good Will 4 Interest in real property Difference between Residential and Commercial Real Estate - ANSWERS1-4 units -- Residential 5 and over -- Commercial Designated Broker (2) - ANSWERS1. Natural person 2. Owns RE firm or controlling interest Inactive license (2) - ANSWERS1. Not expired 2. Not affiliated with firm Managing Broker is a (3): - ANSWERS1. Natural person 2. Under supervision of Designated broker 3. May supervise other brokers or man broker In rental properties, a person employed by the owner does not need to be licensed, if they (4) - ANSWERSa) delivering/receiving lease applications; b) Showing rental units; c) providing info about rent; d) assistant of property manager. WA RE Commission (6) - ANSWERS1. Meet 4 times a year 2. Appointed by governor 3. At least 2 from east, 2 from west 4. Term 6 years 5. Vice chair elected annually 6. Director + 6 members Experience needed to be a member of WA RE Commission (2) - ANSWERS1. 5 years in RE 2. 3 in investigation Duties of Director of WA STATE PORTION EXAM (Andrei) Questions & Answers Correct 100%