Washington State Specific Real Estate Exam | Questions & 100% Verifiedanswers | Latest Update | Passed

WASHINGTON STATE SPECIFIC REAL ESTATE EXAM | QUESTIONS & 100% VERIFIEDANSWERS | LATEST UPDATE | PASSED Qualifications for wa state real estate commission Correct Answer: 5 years of experience performing real estate brokerage services in this state or 3 years experience in investigative work of a similar nature, preferably in relation to the administration of real estate license law in Washington or elsewhere. Who appoints the real estate commission seats? Correct Answer: The governor must appoint 6 commission members for a term of 6 years each. At least two will be selected from the area east of the cascade mountains and two from the west. How often does the commission meet per year? Correct Answer: 4 times a year or at the call of the director Can director and their employees have an active license while employed by the department? Correct Answer: No, while employed with the department the director and employees who administer, regulate or enforce real estate law must relinquish interest in any real 2 estate business regulated by this chapter. Licenses placed on inactive status until cessation of employment by the director Can licensees employed by a town, city or county hold active licenses? Correct Answer: Yes and their managing brokers aren't responsible for their transactions in behalf of their town, city or county employer What are requirements for a broker's license? Correct Answer: 18+, high school diploma or equivalent, 90 hours of instruction in real estate within two years before applying for a license, pass the exam, Managing Broker's license requirements Correct Answer: 18+, high school diploma or equivalent, 3 years of licensed real estate experience or equivalent in Washington or another state, pass exam, 90 hours of instruction -- at least 30 have to be clock hours. How long must a licensee be suspended before the Real Estate Commission posts said licensee's name on their website? Correct Answer: 60 days What's the maximum fine for violating the Sherman Anti Trust Act? Correct Answer: $1,000,000 for individuals and $100,000,000 for corporations 3 What act allowed homeowners the option of creating or submitting a plan for a homeowners association? Correct Answer: Washington Property Owners Association Act How much money can a community association have before fidelity insurance is purchased? Correct Answer: 60