Washington State Real Estate Broker Exam
Questions and Answers
Updated Latest (Verified Answers)
1. Deed in lieu of foreclosure
g g g g
Answer Yin Lee is an owner of several properties as well as a relatively high profile indiv
g g g g g g g g g g g g g g g g
idual. In order for Yin Lee to attempt to avoid a possible foreclosure from becoming a ma
g g g g g g g g g g g g g g g g
tter of public record by being recorded, Yin Lee would want to give the lender a
g g g g g g g g g g g g g g g
2. A real estate license
g g g
Answer If a contractor intends to sell 10 properties in a calendar year, he/she will nee
g g g g g g g g g g g g g g g
d
3. Desire and means g g
Answer Demand for property requires what two factors of the popu-
g g g g g g g g g g
g lace to be effective?
g g g
4. Must return the deposit money but can sue for the commission
g g g g g g g g g g
Answer An offer has been accepted by the buyer and the seller. The buyer and seller inst
g g g g g g g g g g g g g g g g
ruct the broker to return the deposit money to the seller. The broker
g g g g g g g g g g g g
5. A Historic building
g g
1g/g79
,Answer Of the properties listed, which is considered the most "unique" and woul
g g g g g g g g g g g g
d use the cost approach method of appraisal?
g g g g g g g
-A condominium
g
-A piece of land
g g g
-A Historic building
g g
-A farm
g
6. In the second position
g g g
Answer When describing a home equity line of credit, the mortgage loan in a spec
g g g g g g g g g g g g g g
ified amount based on your home equity would be
g g g g g g g g
7. A female executor
g g
Answer The term "executrix" refers to g g g g g
8. -All of these g g
Answer A construction loan is a g g g g g
-Short-term loan for financing the cost of construction
g g g g g g g
-Loan in which the lender makes periodic payments
g g g g g g g
-Loan in which payments are issued as the building progresses
g g g g g g g g g
-All of these
g g
9. Third-party origination g
Answer When a lender uses another party to completely origi-
g g g g g g g g g
2g/g79
,g nate, process, underwrite, close, fund, or package the mortgages it plans to deliver to th
g g g g g g g g g g g g g g
e secondary mortgage market, this is known as
g g g g g g g
10. All of these g g
Answer Real property should have a higher rate of return than bonds or first trust de
g g g g g g g g g g g g g g g
eds because of
g g
-The added time to market
g g g g
-The added care required
g g g
-All of these
g g
-The higher denominations it comes in
g g g g g
11. All of these g g
Answer An application form used to apply for a mortgage contains infor-
g g g g g g g g g g g
g mation about a borrower's
g g g
-Income
-All of these
g g
3g/g79
, -Savings
-Assets and Debts g g
12. Low Down Payment and Easy Terms
g g g g g
Answer Financing costs usually rise on loans with
g g g g g g g
13. Collect Rents, Perform maintenance on the property, and Show vacant units t
g g g g g g g g g g g
o prospective tenants
g g
Answer A property manager that resides on a property would likely
g g g g g g g g g g
14. COFI
Answer One of the indexes used to determine interest rate changes for certain adjust
g g g g g g g g g g g g g
able-rate mortgages is called
g g g
15. Steering
Answer An African American family is looking to purchase a house. Their agent has bee
g g g g g g g g g g g g g g
n showing them properties for weeks, all of which are in predominantly African American
g g g g g g g g g g g g g
g neighborhoods. This would be an example of g g g g g g
16. Negative covenant g
Answer If a deed includes a promise that the owner will not build a fence, this is one exa
g g g g g g g g g g g g g g g g g g
mple of a(n) g g
17. Tenancy by the Entirety g g g
Answer What special type of ownership is available in most non-
g g g g g g g g g g
4g/g79
Questions and Answers
Updated Latest (Verified Answers)
1. Deed in lieu of foreclosure
g g g g
Answer Yin Lee is an owner of several properties as well as a relatively high profile indiv
g g g g g g g g g g g g g g g g
idual. In order for Yin Lee to attempt to avoid a possible foreclosure from becoming a ma
g g g g g g g g g g g g g g g g
tter of public record by being recorded, Yin Lee would want to give the lender a
g g g g g g g g g g g g g g g
2. A real estate license
g g g
Answer If a contractor intends to sell 10 properties in a calendar year, he/she will nee
g g g g g g g g g g g g g g g
d
3. Desire and means g g
Answer Demand for property requires what two factors of the popu-
g g g g g g g g g g
g lace to be effective?
g g g
4. Must return the deposit money but can sue for the commission
g g g g g g g g g g
Answer An offer has been accepted by the buyer and the seller. The buyer and seller inst
g g g g g g g g g g g g g g g g
ruct the broker to return the deposit money to the seller. The broker
g g g g g g g g g g g g
5. A Historic building
g g
1g/g79
,Answer Of the properties listed, which is considered the most "unique" and woul
g g g g g g g g g g g g
d use the cost approach method of appraisal?
g g g g g g g
-A condominium
g
-A piece of land
g g g
-A Historic building
g g
-A farm
g
6. In the second position
g g g
Answer When describing a home equity line of credit, the mortgage loan in a spec
g g g g g g g g g g g g g g
ified amount based on your home equity would be
g g g g g g g g
7. A female executor
g g
Answer The term "executrix" refers to g g g g g
8. -All of these g g
Answer A construction loan is a g g g g g
-Short-term loan for financing the cost of construction
g g g g g g g
-Loan in which the lender makes periodic payments
g g g g g g g
-Loan in which payments are issued as the building progresses
g g g g g g g g g
-All of these
g g
9. Third-party origination g
Answer When a lender uses another party to completely origi-
g g g g g g g g g
2g/g79
,g nate, process, underwrite, close, fund, or package the mortgages it plans to deliver to th
g g g g g g g g g g g g g g
e secondary mortgage market, this is known as
g g g g g g g
10. All of these g g
Answer Real property should have a higher rate of return than bonds or first trust de
g g g g g g g g g g g g g g g
eds because of
g g
-The added time to market
g g g g
-The added care required
g g g
-All of these
g g
-The higher denominations it comes in
g g g g g
11. All of these g g
Answer An application form used to apply for a mortgage contains infor-
g g g g g g g g g g g
g mation about a borrower's
g g g
-Income
-All of these
g g
3g/g79
, -Savings
-Assets and Debts g g
12. Low Down Payment and Easy Terms
g g g g g
Answer Financing costs usually rise on loans with
g g g g g g g
13. Collect Rents, Perform maintenance on the property, and Show vacant units t
g g g g g g g g g g g
o prospective tenants
g g
Answer A property manager that resides on a property would likely
g g g g g g g g g g
14. COFI
Answer One of the indexes used to determine interest rate changes for certain adjust
g g g g g g g g g g g g g
able-rate mortgages is called
g g g
15. Steering
Answer An African American family is looking to purchase a house. Their agent has bee
g g g g g g g g g g g g g g
n showing them properties for weeks, all of which are in predominantly African American
g g g g g g g g g g g g g
g neighborhoods. This would be an example of g g g g g g
16. Negative covenant g
Answer If a deed includes a promise that the owner will not build a fence, this is one exa
g g g g g g g g g g g g g g g g g g
mple of a(n) g g
17. Tenancy by the Entirety g g g
Answer What special type of ownership is available in most non-
g g g g g g g g g g
4g/g79
