Washington State Real Estate Broker Exam Review Questions And Answers, Graded A+/| Latest Update 2024/25|

WASHINGTON STATE REAL ESTATE BROKER EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ -All of these - -A construction loan is a: -Short-term loan for financing the cost of construction -Loan in which the lender makes periodic payments -Loan in which payments are issued as the building progresses -All of these -Mortgage Insurance -Hazard insurance -Real estate taxes - -Escrow disbursements can pay for: -Similar properties currently on the market -Similar properties that have been on the market but whose listings have expired -Similar properties that have recently sold - -A CMA typically will include data on: "In a timely manner" - -In Washington, the Brokerage Relationships in Real Estate Transactions Act states that a broker must present offers to his/her seller client: $1,000 - -In Washington, in addition to censure and revocation of licenses, the Washington Real Estate Commission can fine a licensee up to ____________________ for a single violation. $1,800 - -If Samuels were to offer to refinance a loan of $200,000 for Jimmy for free except for one "point" of the new amount of $180,000, Samuels would be receiving how much money? $5,000 - -In Washington, in addition to censure and revocation of licenses, the Washington Real Estate Commission can fine a licensee up to ____________________ for multiple violations. $50,000 - -The civil penalty for a first violation of the Federal Fair Housing Laws can be as much as: $510,400 - -A non-conforming loan is a loan amount over: 1 - -: In Washington, a licensee may work for this number of broker's without penalty: 3 years - -In Washington, if Ronny is a licensed broker who wishes to apply for a managing broker's license, he must be able to verify that he has had at least this much experience in active real estate: 8 feet - -The height of most ceilings in a single family home is: 50% When a property is 50% leveraged, it means that there is a debt on the property 50% of its value. The owner's equity would be 50% in this case. - -If a property is leveraged at 50%, this means that the debt on the property is which percentage of its value? 1978 - -The Federal Government requires that any potential purchaser be given a pamphlet about possible lead paint contamination if the structure was built before which year? A balloon payment - -The final lump sum payment due at the termination of a specific type of mortgage is best called: A Bank - -In order to obtain a loan, a person would likely go to: A call option - -An acceleration clause is most similar to: A cap - -If a mortgage has an adjustable rate but has limitations on how much the mortgage rate may adjust over a six-month period, an annual period, and over the life of the loan, this would be called: A capital improvement - -In terms of property ownership, the cost of a fence is considered: A certificate of deposit - -A time deposit that is held in a bank that pays a certain predetermined amount of interest to the depositor is known as: A clear title means that it is free of any liens or legal questions as to ownership of the property - - Amanda is a real estate agent performing a title search on a property. After performing her due diligence, she finds that the title is a clear title. What does t