WASHINGTON STATE REAL ESTATE EXAM
BUNDLED WASHINGTON REAL ESTATE
FUNDAMENTALS ACTUAL TEST PAPER
2026 QUESTIONS AND CORRECT ANSWERS
GRADED A+
⩥ Conventional Mortgage.
Answer: A mortgage (loan) where real property is used as security for
the payment of the debt and the loan is not insured through FHA or
guaranteed by VA.
⩥ Conventional Uninsured Mortgage.
Answer: A mortgage (loan) wherein the borrower has a 20 percent or
greater down payment, and the lender accepts the creditworthiness of the
borrower and the property as security for the loan.
⩥ Conversion.
Answer: The process of changing from one form of ownership to
another, such as apartment use to condo use.
⩥ Conveyance.
Answer: A written instrument that evidences transfer of some interest in
real property from one person to another.
,⩥ Cooperative.
Answer: A residential multiunit building whose title is held by a trust or
corporation, which is owned by and operated for the benefit of persons
living within the building, who are the beneficial owners of the trust or
stockholers of the corporation, each having a proprietary lease.
⩥ Corporation.
Answer: An enity or organization created by operation of law whose
rights of doing business are essentially the same as those of an
individual. The entity has continuous existence until dissolved according
to legal procedures..
⩥ Correction Lines.
Answer: Used in the government survey to compensate for the curvature
of the earth.
⩥ Cost Approach.
Answer: The process of estimating the value of a special purchase
property. The formula is as follows:
Reproduction or replacement cost - Depreciation + Land = Value
⩥ Counseling.
, Answer: The business of providing people with expert advice on a
subject, based on the counselor's extensive, expert knowledge of the
subject.
⩥ Counteroffer.
Answer: A new offer made as a reply to an offer received, having the
effect of voiding the original offer, which cannot be accepted thereafter
unless revived by the offeror's repeating it.
⩥ Covenant.
Answer: A promise to do or to refrain from doing an act. The covenants
found in a general warranty deed are seisin, encumbrances, further
assurance, quite enjoyment, and warranty forever.
⩥ Covenant of Quiet Enjoyment.
Answer: In a deed, this covenant ensures that the grantee and the
grantee's heirs have the right to the property free from interference from
the acts or claims of third parties. IN a lease, this covenant ensures the
tenants' right of possession without interference from the landlord or
third parties.
⩥ Curable Depreciation.
Answer: When the cost of fixing the property does not exceed the value
of the property
BUNDLED WASHINGTON REAL ESTATE
FUNDAMENTALS ACTUAL TEST PAPER
2026 QUESTIONS AND CORRECT ANSWERS
GRADED A+
⩥ Conventional Mortgage.
Answer: A mortgage (loan) where real property is used as security for
the payment of the debt and the loan is not insured through FHA or
guaranteed by VA.
⩥ Conventional Uninsured Mortgage.
Answer: A mortgage (loan) wherein the borrower has a 20 percent or
greater down payment, and the lender accepts the creditworthiness of the
borrower and the property as security for the loan.
⩥ Conversion.
Answer: The process of changing from one form of ownership to
another, such as apartment use to condo use.
⩥ Conveyance.
Answer: A written instrument that evidences transfer of some interest in
real property from one person to another.
,⩥ Cooperative.
Answer: A residential multiunit building whose title is held by a trust or
corporation, which is owned by and operated for the benefit of persons
living within the building, who are the beneficial owners of the trust or
stockholers of the corporation, each having a proprietary lease.
⩥ Corporation.
Answer: An enity or organization created by operation of law whose
rights of doing business are essentially the same as those of an
individual. The entity has continuous existence until dissolved according
to legal procedures..
⩥ Correction Lines.
Answer: Used in the government survey to compensate for the curvature
of the earth.
⩥ Cost Approach.
Answer: The process of estimating the value of a special purchase
property. The formula is as follows:
Reproduction or replacement cost - Depreciation + Land = Value
⩥ Counseling.
, Answer: The business of providing people with expert advice on a
subject, based on the counselor's extensive, expert knowledge of the
subject.
⩥ Counteroffer.
Answer: A new offer made as a reply to an offer received, having the
effect of voiding the original offer, which cannot be accepted thereafter
unless revived by the offeror's repeating it.
⩥ Covenant.
Answer: A promise to do or to refrain from doing an act. The covenants
found in a general warranty deed are seisin, encumbrances, further
assurance, quite enjoyment, and warranty forever.
⩥ Covenant of Quiet Enjoyment.
Answer: In a deed, this covenant ensures that the grantee and the
grantee's heirs have the right to the property free from interference from
the acts or claims of third parties. IN a lease, this covenant ensures the
tenants' right of possession without interference from the landlord or
third parties.
⩥ Curable Depreciation.
Answer: When the cost of fixing the property does not exceed the value
of the property
