WA Real Estate Exam Questions With Answers Latest Updated Graded A++

WA Real Estate Exam Questions With Answers Latest Updated Graded A++. Karen would like to sell her own home. What's the minimum real estate license she must possess? - Answer None Carla is selling her house in Wenatchee to her sister. Neither party wants to be represented. They only want some assistance with handling the paperwork. Who should they consider engaging in this situation? - Answer Transaction coordinator Which designation may you not use in any marketing materials unless you belong to NAR? - Answer REALTOR What's part of the licensee's role in the closing process? - Answer Preparing clients for closing Cheryl Ann received a summary judgment from the DOL because she did not ______ within 20 days of receiving notice of a DOL investigation. - Answer Request a hearing. How are Washington commission members selected? - Answer Appointed by the governor. In Washington, the buyer usually pays for which of the following title insurance policies? - Answer Lender's title insurance Amendments to a Washington property management agreement must be ______. - Answer Written In Washington, a designated broker holds a ______ license. - Answer Managing broker's Which one of the following entities is responsible for creating Washington real estate laws and statutes? - Answer The legislature Licensee compensation is funneled through the broker. Who may pay the compensation that goes through the broker? - Answer A party to the transaction, a third party, or another broker Frank, a Washington broker, wants to open his own real estate firm. Which of the following statements is true? - Answer Frank must either hire a designated broker or be endorsed as one himself. In Washington, what kind of license is issued to a corporation that performs brokerage services? - Answer Firm In Washington, which agency is authorized to disseminate and enforce real estate licensing laws? - Answer Department of Licensing If a Washington real estate firm is closing, the firm's designated broker must provide an affidavit to the Washington DOL within ______ days. - Answer Five How does Washington define subagency? - Answer An agent appointed by another agent to assist the principal Charlie represents Sue, a buyer, in Redmond. Charlie is being paid by Claude, the seller, through his brokerage. What's true about this situation? - Answer This doesn't change the agency relationships. For which of the following expenses will a lender most likely require reserves? - Answer Homeowner's insurance and real estate taxes Robert has passed his Washington broker's licensing exam. How long does he have to apply for his license? - Answer One year In a real estate company office, the licenses of all brokers who are affiliated with the company must be displayed ________. - Answer In a public area Tomas, a listing agent, plans to share his commission with Marea, who served as a subagent and interpreter for his clients who spoke Portuguese. How will Marea receive her share of the commission? - Answer Tomas' company will provide Marea's commission. In Washington, what's it called when a licensee performs tasks for but doesn't represent a customer? - Answer Transaction coordinator Marcel has been engaging in some shady real estate practices, but no one has filed a complaint against him. However, the Washington DOL director heard about his actions. What option does the director have? - Answer Launch an investigation without a formal complaint. Which of the following areas would be considered a "closely related field" as a substitution for broker experience on the Washington managing broker's license application? - Answer Real property appraisal Candidates for a Washington commission seat must have five years of brokerage experience, or ______ years of experience in a related investigative position. - Answer Three Deana is a broker for North Washington Realty, LLC, and is the listing broker from a property. In this transaction, what kinds of compensation is Deana entitled to receive from payors other than her brokerage firm? - Answer All compensation must be paid through her broker. Washington licensees can maintain their licenses in inactive status as long as they want. Which of the following statements about the reactivation requirement is correct? - Answer Licensees with inactive licenses must continue to renew their licenses every two years. All new Washington licensees must submit fingerprint cards when applying for a real estate license. How often do licensees submit fingerprint cards after they receive their first license? - Answer Every three renewal periods If the Washington DOL director determines that a complaint has merit, must the DOL launch an investigation? - Answer No. The director may determine that the violation wasn't severe enough or doesn't pose a danger to consumers. What's the best way to create an agency relationship in Washington? - Answer Written agreement Jessie works for Tri-City Homes. She's the cooperating broker on a sale made through Golden Realty. Golden Realty issues Jessie a check for her portion of the commission. Which of the following statements about this situation is true? - Answer This is illegal because Jessie isn't licensed to work with Golden Realty. Which duty to clients in Washington generally survives termination of the agency relationship? - Answer Confidentiality Someone who has agency representation with a Washington licensee is a ______. - Answer Client What kind of research does WCRER perform? - Answer Affordable housing Some Washington real estate brokerage records may be kept offsite if they're for transactions that closed how long ago? - Answer One year or more Dontelle had a great experience with his apartment and landlord until about three months ago, when the plumbing in the unit above started leaking into his apartment. The landlord keeps saying he'll fix it but hasn't, and now Dontelle has mold growing on two walls. Dontelle is moving out before his lease has expired, due to ________. - Answer Constructive eviction Who delivers the evidence of a clear title at the closing? - Answer Title insurance representative Tamara is assisting a buyer who's making an offer on her client's listing in Renton. Tamara and the buyer develop a good rapport, and in her desire to be helpful, Tamara offers the buyer advice about how to structure her offer. What does Tamara risk being charged with? - Answer Undisclosed dual agency Ethan is a real estate licensee in Seattle. He's busy making last-minute preparations for an open house at his client's property. What type of agent is he? - Answer Seller's agent How will the buyer or seller know where and when the closing is being held? - Answer Their agents will inform them of the date once it's set. In a Washington real estate company, what must be displayed or available for viewing in a public area? - Answer Broker licenses Larry is assisting a buyer who's making an offer on his client's listing in Edmonds. If Larry is too helpful to the buyer, what might occur? - Answer Implied agency and undisclosed dual agency Washington's director has taken steps to restrict a managing broker from supervising other brokers until after the broker's hearing has taken place. What's the official term for this type of action? - Answer Summary Who requests authorization from the Washington Department of Licensing to establish a branch office? - Answer The designated broker Managing broker applicants in Washington must have three years' broker experience or ______ to qualify to take the exam. - Answer Five years' experience in a closely related field How often is the Washington Real Estate Commission required to meet? - Answer Four times a year In Washington, how many hours of coursework must an applicant complete before applying for a managing broker's license? - Answer 90 Which of the following activities must be specifically delegated in order for a Washington branch manager to perform it? - Answer Handling trust accounts In Washington, what does it mean to have a disciplinary action stayed? - Answer The action is suspended or delayed until a future date. Eleanor from X Realty in Lynnwood has a new listing, and, with the seller's permission, Eleanor appointed Trent from Target Realty as her subagent. Trent brings a buyer customer to the listing, and the customer ends up buying the property. What's true about the agency relationships in this situation? - Answer Trent owes his loyalty to the seller. If a real estate company in Washington moves to a new address, the designated broker has ________ to inform the Department of Licensing. - Answer 10 days Washington rules indicate that a designated broker may delegate to a branch manager the task of reviewing which of the following documents? - Answer Contracts Which of the following describes a statutory duty that's performed by a Washington managing broker? - Answer Provide increased supervision for new licensees. Robert's Washington real estate license was immediately restricted when he received notice that a complaint had been filed against him and an investigation would follow. What's the earliest that a hearing can be held after the notice is served? - Answer As soon as possible How is the physical license for a branch office handled in Washington? - Answer A duplicate of the primary firm's license, which displays both the primary firm's and the branch office's address, is issued. In Washington, what agency role involves a licensee working on behalf of another agent's principal? - Answer Subagent Jerry owns and operates his own real estate firm as a sole proprietor, and no other licensees working with him. He uses a trust account to deposit all earnest money. If the DOL audits him, which of the following would cause trouble for Jerry? - Answer The inability to show a clear audit trail of where the money in the trust account came from and where it went How frequently should property management commissio