WA Fundamentals Final Exam Questions
Fully Solved 2025.
Which of the following is most likely to be considered a fixture?
A. Draperies
B. lamp
C. Plumbing
D. Washing Machine - Answer C. Plumbing
A life estate will last until:
A. Economic conditions render it unfeasible
B. The death of the grantor
C. the death of the recipient
D. the recipient moves out - Answer C. the death of the recipient
The deed that states that there is
A. Grant Deed
B. Bargain and sale deed
C. Quitclaim deed
D. Special Warranty deed - Answer C Quitclaim deed
A Judgement Lien:
A. Applies only to personal property
B. Applies only to real property
C. takes first lien position
D. When paid off, requires satisfaction of judgment to be recorded to clear the record - Answer
D When paid off, requires satisfaction of judgment to be recorded to clear the record
,B. Foreclosure
C. Lis Pendens
D. Building Codes and zoning regulations - Answer D. Building Codes and Zoning regulations
The Term "Meeting of the Minds" is associated with:
A. Full performance of a contract
B. Offer and acceptance
C. Execution
D tender of an offer - Answer A. Full performance of a contract
Exaggeration about a property's positive characteristics would be considered:
A. Fraud
B. Misrepresentation
C. Overstating
D. Puffing - Answer D Puffing
The seller listed the property for $95,000. Assuming that their listing agreement is typical, the
broker would NOT be entitled to a commission if the seller:
A. Rejected a $90,000 offer from a financially qualified buyer
B. Accepted a $90,000 offer from a financially qualified buyer
C. Accepted a $95,000 offer, but his title turned out to be unmarketable
D. Rejected a $95,000 offer from a financially qualified buyer - Answer A. Rejected a $90,000
offer from a financially qualified buyer
A Contract specifies that "time is of the essence." This means that:
A. the seller must fulfill her contractual duties by the date set forth in the contract, but the
buyer does not have to
B. the buyer must fulfill her contractual duties by the date set forth in the contract, but the
seller does not have to
C. the agent must fulfill his contractual duties by the date set forth in the contract, but the
buyer and seller do not have too
D all contractual duties must be fulfilled on or before the date set forth in the contract - Answer
D all contractual duties must be fulfilled on or before the date set forth in the contract
,C. Length of time for repayment of loans
D. Loan to value Ratios - Answer B maximum interest rates
For which of the following people would an adjustable-rate loan not be a good idea?
A. A person about to retire
B. A person planning to refinance after several years
C.A person who will live in the house only a short time
D. A person whose income is expected to go up soon - Answer A person about to retire
An appraiser needs to be state-certified to perform which of the following appraisals?
A. Appraisal of a residence valued at $200,000
B. Appraisal of a residence valued at $500,000
C. Appraisal related to a loan that will be issued by a federally insured lender
D. Appraisal related to an FHA loan - Answer D. Appraisal related to an FHA loan
On a settlement statement, an earnest money deposit that will be held by the brokerage firm
until closing is a:
A. Credit to the buyer
B. Credit to the seller
C. Debit (Charge) to the buyer
D. Debit (charge) to the seller - Answer A Credit to the buyer
A licensee hears that a religious group will be opening a commune in a neighborhood. He begins
contacting neighbors and telling them about this, encouraging them to list their properties with
him before property value declines. This is:
A. Blockbusting
B. Redlining
C. Steering
D. Legal - Answer A. Blockbusting
An investor is interested in purchasing a multi-family dwelling. He would most likely want to
, c. property with a high vacancy rated.
D rent-control property - Answer B. Property where the rents are similar to comparable
properties in the same area
Zoning requirements state that a lot must be at least four times the size of the building located
on the lot. An architect draws up plans for a building that is 20,000 square feet. At least how
many acres does the lot need to be?
A. 1
B. 2
C. 3
D. 4 - Answer B. 2
Test to distinguish a fixture from personal property include all of the following, EXCEPT:
A. Method of attachment
B. Cost of the item
C. intent of the annexor
D. adaptability - Answer B cost of the item
A primary advantage of owning a property in severalty is:
A. Flexibility
B. inheritability
C. Joint Occupancy
D. Shared risk - Answer A. Flexibility
All of the following are requirements for a valid deed, EXCEPT:
A. Acknowledgment
B. Adequate legal description
C. Signature of Grantor
D. Words of conveyance - Answer A acknowledgment
A homeowner has been sharing with a friendly neighbor the use of a driveway that crosses both
Fully Solved 2025.
Which of the following is most likely to be considered a fixture?
A. Draperies
B. lamp
C. Plumbing
D. Washing Machine - Answer C. Plumbing
A life estate will last until:
A. Economic conditions render it unfeasible
B. The death of the grantor
C. the death of the recipient
D. the recipient moves out - Answer C. the death of the recipient
The deed that states that there is
A. Grant Deed
B. Bargain and sale deed
C. Quitclaim deed
D. Special Warranty deed - Answer C Quitclaim deed
A Judgement Lien:
A. Applies only to personal property
B. Applies only to real property
C. takes first lien position
D. When paid off, requires satisfaction of judgment to be recorded to clear the record - Answer
D When paid off, requires satisfaction of judgment to be recorded to clear the record
,B. Foreclosure
C. Lis Pendens
D. Building Codes and zoning regulations - Answer D. Building Codes and Zoning regulations
The Term "Meeting of the Minds" is associated with:
A. Full performance of a contract
B. Offer and acceptance
C. Execution
D tender of an offer - Answer A. Full performance of a contract
Exaggeration about a property's positive characteristics would be considered:
A. Fraud
B. Misrepresentation
C. Overstating
D. Puffing - Answer D Puffing
The seller listed the property for $95,000. Assuming that their listing agreement is typical, the
broker would NOT be entitled to a commission if the seller:
A. Rejected a $90,000 offer from a financially qualified buyer
B. Accepted a $90,000 offer from a financially qualified buyer
C. Accepted a $95,000 offer, but his title turned out to be unmarketable
D. Rejected a $95,000 offer from a financially qualified buyer - Answer A. Rejected a $90,000
offer from a financially qualified buyer
A Contract specifies that "time is of the essence." This means that:
A. the seller must fulfill her contractual duties by the date set forth in the contract, but the
buyer does not have to
B. the buyer must fulfill her contractual duties by the date set forth in the contract, but the
seller does not have to
C. the agent must fulfill his contractual duties by the date set forth in the contract, but the
buyer and seller do not have too
D all contractual duties must be fulfilled on or before the date set forth in the contract - Answer
D all contractual duties must be fulfilled on or before the date set forth in the contract
,C. Length of time for repayment of loans
D. Loan to value Ratios - Answer B maximum interest rates
For which of the following people would an adjustable-rate loan not be a good idea?
A. A person about to retire
B. A person planning to refinance after several years
C.A person who will live in the house only a short time
D. A person whose income is expected to go up soon - Answer A person about to retire
An appraiser needs to be state-certified to perform which of the following appraisals?
A. Appraisal of a residence valued at $200,000
B. Appraisal of a residence valued at $500,000
C. Appraisal related to a loan that will be issued by a federally insured lender
D. Appraisal related to an FHA loan - Answer D. Appraisal related to an FHA loan
On a settlement statement, an earnest money deposit that will be held by the brokerage firm
until closing is a:
A. Credit to the buyer
B. Credit to the seller
C. Debit (Charge) to the buyer
D. Debit (charge) to the seller - Answer A Credit to the buyer
A licensee hears that a religious group will be opening a commune in a neighborhood. He begins
contacting neighbors and telling them about this, encouraging them to list their properties with
him before property value declines. This is:
A. Blockbusting
B. Redlining
C. Steering
D. Legal - Answer A. Blockbusting
An investor is interested in purchasing a multi-family dwelling. He would most likely want to
, c. property with a high vacancy rated.
D rent-control property - Answer B. Property where the rents are similar to comparable
properties in the same area
Zoning requirements state that a lot must be at least four times the size of the building located
on the lot. An architect draws up plans for a building that is 20,000 square feet. At least how
many acres does the lot need to be?
A. 1
B. 2
C. 3
D. 4 - Answer B. 2
Test to distinguish a fixture from personal property include all of the following, EXCEPT:
A. Method of attachment
B. Cost of the item
C. intent of the annexor
D. adaptability - Answer B cost of the item
A primary advantage of owning a property in severalty is:
A. Flexibility
B. inheritability
C. Joint Occupancy
D. Shared risk - Answer A. Flexibility
All of the following are requirements for a valid deed, EXCEPT:
A. Acknowledgment
B. Adequate legal description
C. Signature of Grantor
D. Words of conveyance - Answer A acknowledgment
A homeowner has been sharing with a friendly neighbor the use of a driveway that crosses both
