Washington State Portion (Real Estate Exam) Questions And Answers

WASHINGTON STATE PORTION (REAL
ESTATE EXAM) QUESTIONS AND
ANSWERS
RebeccaOreceivesOanOearnestOmoneyOdepositOinOtheOamountOofO$12,000.OWhichOofOtheOfollowingOstatem
entsObestOdescribesOtheOdepositOofOthisOtrustOmoney?

RebeccaOmayOdepositOitOinOtheOfirm'sOregularOtrustOaccount.

RebeccaOmustOdepositOitOinOanOindividualOtrustOaccountOsetOupOforOjustOthisOclient.

RebeccaOmustOdepositOtheOfundsOinOaOnon-interestObearingOtrustOaccount.

RebeccaOmustOdepositOtheOfundsOintoOaODOLOspecialOtrustOfundOaccount.O-OCORRECTOANSWERS-
**RebeccaOmayOdepositOitOinOtheOfirm'sOregularOtrustOaccount.

InOWashington,OlicenseesOrenewingOforOtheOfirstOtimeOwillOcompleteO______OhoursOinOadvancedOpracticeO
coursework,O______OhoursOinOrealOestateOlaw,O______OhoursOofOcontinuingOeducationOcoursework,OandO
aO______-hourOcoreOcourse.

15,O15,O27,O4
30,O30,O27,O3
30,O30,O30,O4
90,O90,O30,O3O-OCORRECTOANSWERS-30,O30,O27,O3

InOadditionOtoOtheOrequiredOeducationOandOexperienceOtoOrequestOaOsubstitution,OwhatOmustOapplicantsO
forOaOWashingtonOmanagingObroker'sOlicenseOsubmitOwithOtheOapplication?

AnOadditionalOlicensingOfee
DetailedOresume
RecommendationOfromOdesignatedObroker
ThreeOreferenceOlettersO-OCORRECTOANSWERS-DetailedOresume

WhenOareOrealOestateObrokersOallowedOtoOworkOforOtheOWashingtonOStateODepartmentOofOLicensing?

AfterOtheyOdiscloseOanyOpotentialOconflictsOofOinterest
AfterOthey'veObeenOpracticingOfiveOyears
OnceOtheirOlicensesOareOinactivated
WhenOtheyOhaveOwrittenOpermissionOfromOtheirOdesignatedObrokersO-OCORRECTOANSWERS-
OnceOtheirOlicensesOareOinactivated

WhoOmayOsuperviseOaOmanagingObrokerOinOWashington?

AObroker
AOmanagingObroker
TheODOLOdirector
TheOrealOestateOcommissionO-OCORRECTOANSWERS-AOmanagingObroker

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, GeorgeOisOaObuyerOclosingOonOaOhomeOpurchaseOforOwhichOhe'sOobtainingOfinancing.OHeOreceivesOaOLoanO
EstimateOfromOhisOlender.OWhat'sOtheOpurposeOofOthisOdocument?

ToOdetailOtheOamountOGeorgeOneedsOtoObringOtoOclosing

ToOdetailOtheOestimatedOclosingOcostsOforOGeorge'sOloan

ToOdiscloseOtheOinterestOratesOavailableOonOthisOlender'sOvariousOloanOprograms

ToOdiscloseOtheOlender'sOsourceOofOloanOfundsO-OCORRECTOANSWERS-
ToOdetailOtheOestimatedOclosingOcostsOforOGeorge'sOloan

LicenseeOLenOreceivesOanOofferOforOhisOsellerOclient'sOproperty.OIt'sOaOgoodOofferOthatOLenOthinksOhisOclient
OwillOaccept.OTheOonlyOwrinkleOisOthatOitOincludesOaOone-

quarterOinterestOinOaOlocalOhuntingOclubOasOtheOearnestOmoneyOdeposit.OWhichOofOtheOfollowingOstateme
ntsOisOtrue?

It'sOLen'sOresponsibilityOtoOresearchOtheOtitleOtoOtheOinterestObeingOofferedOasOearnestOmoneyOdeposit,Oto
OensureOthatOitOhasOvalue,ObeforeOpresentingOtheOofferOtoOhisOclient.




LenOmustOinformOhisOsellerOclientOofOtheOformOofOearnestOmoneyObeforeOtheOsellerOsignsOtheOpurchaseOco
ntract.

LenOmustOinformOtheODOLOifOhisOsellerOclientOacceptsOthisOearnestOmoneyOdepositOsinceOtheODOLOmustOap
proveOanyOearnestOmoneyOagreementsOforOitemsOotherOthanOcashOorOcashOequivalents.

LenOshouldOadviseOhisOsellerOclientOthatOonlyOcashOorOcashOequivalentsOmayObeOusedOasOearnestOmoney.O-
OCORRECTOANSWERS-

LenOmustOinformOhisOsellerOclientOofOtheOformOofOearnestOmoneyObeforeOtheOsellerOsignsOtheOpurchaseOco
ntract.

InOorderOforOaOlicensedOfirmOtoOshareOcommissionsOwithOanotherOfirm,OwhatOmustObeOtrueOofOtheOsecond
Ofirm?




ItOmustObeOlicensedOtoOdoObusinessOwithOtheOoriginalOfirm.
ItOmustOemployOatOleastOtwoOlicensedOindividuals.
ItOmustOhaveObeenOinObusinessOatOleastOthreeOyears.
ItOmustOshareOitsOfinancialOrecordsOwithOtheOoriginalOfirm.O-OCORRECTOANSWERS-
ItOmustObeOlicensedOtoOdoObusinessOwithOtheOoriginalOfirm.

CharlieOrepresentsOSue,OaObuyer,OinORedmond.OCharlieOisObeingOpaidObyOClaude,OtheOseller,OthroughOhisOb
rokerage.OWhat'sOtrueOaboutOthisOsituation?

CharlieOisOClaude'sOagent.
SueOisOClaude'sOcustomer.
ThisOdoesn'tOchangeOtheOagencyOrelationships.
ThisOisOundisclosedOdualOagency.O-OCORRECTOANSWERS-ThisOdoesn'tOchangeOtheOagencyOrelationships.

Thomas,OaOWashingtonObroker,OreceivedOaOnoticeOofOviolationOforOhavingOfailedOtoOprovideOrecordsOprop
erlyOuponOrequest.OIfOheOchoosesOtoOignoreOtheOnoticeOofOviolation,OwhatOmayOoccur?
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, HeOmayObeOsubjectOtoOarrest.

HisOlicenseOmayObeOautomaticallyOrevoked.

TheOcaseOmayObeOautomaticallyOmovedOtoObeOheardOinOsuperiorOcourt.

TheOdirectorOmayOissueOaOdefaultOjudgmentOandOimposeOsanctionsObasedOonOwhateverOevidenceOisOavail
able.O-OCORRECTOANSWERS-
TheOdirectorOmayOissueOaOdefaultOjudgmentOandOimposeOsanctionsObasedOonOwhateverOevidenceOisOavail
able.

InOWashington,OhowOmanyOhoursOofOcourseworkOmustOanOapplicantOcompleteObeforeOapplyingOforOaOma
nagingObroker'sOlicense?

120
30
60
90O-OCORRECTOANSWERS-90

TheOWashingtonOlegislatureOhasOpassedOnewOlicensingOlegislationOdesignedOtoOchangeOtheOamountOandOt
ypeOofOeducationOrequiredOforOlicensing.OTheOdirectorOhasOproposedOadditionalOlicensingOrulesOtoOsuppor
tOtheOnewOlegislation.OWhat'sOtheOcommission'sOroleOinOthisOprocess?

TheOcommissionOhasOnoOresponsibilitiesOrelatedOtoOthisOnewOlegislation.

TheOcommissionOmustOapproveOtheOnewOlegislationObeforeOitOcanObeOsignedOintoOlaw.

TheOcommissionOwillOprovideOadviceOtoOtheOdirectorOregardingOtheOnecessaryOrulesOtoOsupportOtheOnewOl
aws.

TheOcommissionOwillOserveOasOtheOlegislature'sOambassadorsOinOgainingOacceptanceOfromOthoseOinOtheOre
alOestateOindustry.O-OCORRECTOANSWERS-
TheOcommissionOwillOprovideOadviceOtoOtheOdirectorOregardingOnecessaryOrulesOtoOsupportOtheOnewOlaws.

InOWashington,OnewOlicenseesOmustOcompleteOaOthree-hourO______OcourseObeforeOtheirOfirstOrenewal.

AdvancedOpractice
ContinuingOeducation
Core
RealOestateOlawO-OCORRECTOANSWERS-core

IfOaOlistingOagreementOdoesn'tOstateOthatOtheOlistingObrokerOisOpermittedOtoOshareOcompensationOwithOaOc
ooperatingObroker,OwhichOofOtheOfollowingOstatementsOisOtrueOaboutOaOcooperatingO(selling)Obroker'sOres
ponsibilityOunderOWashingtonOlaw?

AOcooperatingObrokerOmustOincludeOalternativeOmethodsOofOcompensationOinOtheObuyer'sObrokerageOagr
eement.

TheOcooperatingObrokerageOfirmOmayOdeclineOtoOshowOtoOtheObuyerOanyOpropertiesOforOwhichOthereOisOn
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