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Washington State Brokers Exam Cram Test 1
Questions and Correct Answers
.A buyer and a seller enter into a purchase and sale agreement. The agreement
provides that closing must take place by September 30. A clause states that a
partys failure to be ready by a date specified in the contract will constitute a
breach of the contract. What is the name of this clause? - ANSWER-A time is of
the essence clause
.A buyer enters into a buyer agency agreement with a real estate licensee to
negotiate the purchase of a particular FSBO property. The buyer then enters into
a purchase and sale agreement, but the property he agreed to buy is
subsequently condemned. Which of the following is true?
A) The agency is terminated
B) They can immediately look for another property
C) The agent may sue the buyer for damages, if any were incurred
D) This creates a dual agency - ANSWER-A) The agency is terminated
.A buyer is looking at a house in a neighborhood with newly installed sidewalks.
When the buyer asks about the taxes, the seller assures her that the home isnt
subject to any special assessments. The buyers agent should: - ANSWER-advise
the buyer that the property may be subject to special assessments and
recommend that the buyer look into it
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.A buyer is planning to purchase a property where he can operate a small
mechanics shop out of his home. He eventually finds a property he likes, and tells
the listing agent his plans. However, after closing he finds out that there are deed
restrictions that prevent him from operating such a business from his home.
Which of the following is true?
A) Since the agent knew the buyers intended use, the agent should have
investigated whether it was feasible or informed the buyer that he or his agent
should investigate it
B) The agent represented the seller and did not have a duty of loyalty to the buyer
C) The seller always has to disclose the zoning on a property
D) The real estate agent was the one responsible for investigating deed
restrictions - ANSWER-A) Since the agent knew the buyers intended use, the
agent should have investigated whether it was feasible or informed the buyer
that he or his agent should investigate it
.A buyer who is concerned with whether a propertys soil is suitable for
construction of a septic system would, as part of the inspection process, order
a/an: - ANSWER-percolation test
.A corn field with a depth of 900 feet and a frontage of 484 feet is bisected by an
access road, leaving two triangular lots. If the land sells for $2,000 per acre, how
much is each lot worth? - ANSWER-$10,000
.A deed restriction is a covenant that: - ANSWER-restricts future owners of the
property
.A deed that is not signed by the seller is still considered valid as long as it: -
ANSWER-is signed by an authorized attorney in fact
Washington State Brokers Exam Cram Test 1
Questions and Correct Answers
.A buyer and a seller enter into a purchase and sale agreement. The agreement
provides that closing must take place by September 30. A clause states that a
partys failure to be ready by a date specified in the contract will constitute a
breach of the contract. What is the name of this clause? - ANSWER-A time is of
the essence clause
.A buyer enters into a buyer agency agreement with a real estate licensee to
negotiate the purchase of a particular FSBO property. The buyer then enters into
a purchase and sale agreement, but the property he agreed to buy is
subsequently condemned. Which of the following is true?
A) The agency is terminated
B) They can immediately look for another property
C) The agent may sue the buyer for damages, if any were incurred
D) This creates a dual agency - ANSWER-A) The agency is terminated
.A buyer is looking at a house in a neighborhood with newly installed sidewalks.
When the buyer asks about the taxes, the seller assures her that the home isnt
subject to any special assessments. The buyers agent should: - ANSWER-advise
the buyer that the property may be subject to special assessments and
recommend that the buyer look into it
, 2|Page
.A buyer is planning to purchase a property where he can operate a small
mechanics shop out of his home. He eventually finds a property he likes, and tells
the listing agent his plans. However, after closing he finds out that there are deed
restrictions that prevent him from operating such a business from his home.
Which of the following is true?
A) Since the agent knew the buyers intended use, the agent should have
investigated whether it was feasible or informed the buyer that he or his agent
should investigate it
B) The agent represented the seller and did not have a duty of loyalty to the buyer
C) The seller always has to disclose the zoning on a property
D) The real estate agent was the one responsible for investigating deed
restrictions - ANSWER-A) Since the agent knew the buyers intended use, the
agent should have investigated whether it was feasible or informed the buyer
that he or his agent should investigate it
.A buyer who is concerned with whether a propertys soil is suitable for
construction of a septic system would, as part of the inspection process, order
a/an: - ANSWER-percolation test
.A corn field with a depth of 900 feet and a frontage of 484 feet is bisected by an
access road, leaving two triangular lots. If the land sells for $2,000 per acre, how
much is each lot worth? - ANSWER-$10,000
.A deed restriction is a covenant that: - ANSWER-restricts future owners of the
property
.A deed that is not signed by the seller is still considered valid as long as it: -
ANSWER-is signed by an authorized attorney in fact
