Washington State portion (real estate exam) Questions and
Answers 100% Pass
Rebecca receives an earnest money deposit in
the amount of $12,000. Which of the following
statements best describes the deposit of this When are real estate brokers allowed to work for
trust money? the Washington State Department of Licensing?
Rebecca may deposit it in the firm's regular trust After they disclose any potential conflicts of
account. interest
After they've been practicing five years
Rebecca must deposit it in an individual trust Once their licenses are inactivated
account set up for just this client. When they have written permission from their
designated brokers - ANSWER -Once their
Rebecca must deposit the funds in a non-interest licenses are inactivated
bearing trust account.
Rebecca must deposit the funds into a DOL
special trust fund account. - ANSWER - Who may supervise a managing broker in
**Rebecca may deposit it in the firm's regular Washington?
trust account.
A broker
A managing broker
The DOL director
In Washington, licensees renewing for the first The real estate commission - ANSWER -A
time will complete ______ hours in advanced managing broker
practice coursework, ______ hours in real estate
law, ______ hours of continuing education
coursework, and a ______-hour core course.
George is a buyer closing on a home purchase
15, 15, 27, 4 for which he's obtaining financing. He receives a
30, 30, 27, 3 Loan Estimate from his lender. What's the
30, 30, 30, 4 purpose of this document?
90, 90, 30, 3 - ANSWER -30, 30, 27, 3
To detail the amount George needs to bring to
closing
In addition to the required education and To detail the estimated closing costs for George's
experience to request a substitution, what must loan
applicants for a Washington managing broker's
license submit with the application? To disclose the interest rates available on this
lender's various loan programs
An additional licensing fee
Detailed resume To disclose the lender's source of loan funds -
Recommendation from designated broker ANSWER -To detail the estimated closing
Three reference letters - ANSWER - costs for George's loan
Detailed resume
, Washington State Nurse Delegation Practice Final Exam with
100% Verified Answers
Licensee Len receives an offer for his seller
client's property. It's a good offer that Len thinks Charlie represents Sue, a buyer, in Redmond.
his client will accept. The only wrinkle is that it Charlie is being paid by Claude, the seller,
includes a one-quarter interest in a local hunting through his brokerage. What's true about this
club as the earnest money deposit. Which of the situation?
following statements is true?
Charlie is Claude's agent.
It's Len's responsibility to research the title to the Sue is Claude's customer.
interest being offered as earnest money deposit, This doesn't change the agency relationships.
to ensure that it has value, before presenting the This is undisclosed dual agency. -
offer to his client. ANSWER -This doesn't change the agency
relationships.
Len must inform his seller client of the form of
earnest money before the seller signs the
purchase contract.
Thomas, a Washington broker, received a notice
Len must inform the DOL if his seller client of violation for having failed to provide records
accepts this earnest money deposit since the properly upon request. If he chooses to ignore
DOL must approve any earnest money the notice of violation, what may occur?
agreements for items other than cash or cash
equivalents. He may be subject to arrest.
Len should advise his seller client that only cash His license may be automatically revoked.
or cash equivalents may be used as earnest
money. - ANSWER -Len must inform his The case may be automatically moved to be
seller client of the form of earnest money before heard in superior court.
the seller signs the purchase contract.
The director may issue a default judgment and
impose sanctions based on whatever evidence is
available. - ANSWER -The director may
In order for a licensed firm to share commissions issue a default judgment and impose sanctions
with another firm, what must be true of the based on whatever evidence is available.
second firm?
It must be licensed to do business with the
original firm. In Washington, how many hours of coursework
It must employ at least two licensed individuals. must an applicant complete before applying for a
It must have been in business at least three managing broker's license?
years.
It must share its financial records with the original 120
firm. - ANSWER -It must be licensed to do 30
business with the original firm. 60
90 - ANSWER -90
, Washington State portion (real estate exam) Questions and
Answers 100% Pass
A cooperating broker must include alternative
methods of compensation in the buyer's
The Washington legislature has passed new brokerage agreement.
licensing legislation designed to change the
amount and type of education required for The cooperating brokerage firm may decline to
licensing. The director has proposed additional show to the buyer any properties for which there
licensing rules to support the new legislation. is no compensation agreement with the listing
What's the commission's role in this process? broker.
The commission has no responsibilities related to The cooperating broker may require the buyer to
this new legislation. pay a commission, even if it's not indicated in the
written agreement.
The commission must approve the new
legislation before it can be signed into law. The listing brokerage firm is required to split its
commission with the cooperating brokerage firm.
The commission will provide advice to the - ANSWER -The cooperating brokerage
director regarding the necessary rules to support firm may decline to show to the buyer any
the new laws. properties for which there is no compensation
agreement with the listing broker.
The commission will serve as the legislature's
ambassadors in gaining acceptance from those
in the real estate industry. - ANSWER -The
commission will provide advice to the director Terrance is a managing broker in Washington.
regarding necessary rules to support the new He's moving to a new firm. What does he have to
laws. do to transfer his license?
Complete the replace process.
Request approval from the Department of
In Washington, new licensees must complete a Licensing director.
three-hour ______ course before their first Use the reversion form and pay the correct fee.
renewal. Use the same process as a broker. -
ANSWER -Use the same process as a
Advanced practice broker.
Continuing education
Core
Real estate law - ANSWER -core
Based on Washington statutory duties, which of
the following is a material fact?
If a listing agreement doesn't state that the listing Based on a recent city council ruling, the buyer
broker is permitted to share compensation with a will be unable to use the property for the intended
cooperating broker, which of the following purpose.
statements is true about a cooperating (selling)
broker's responsibility under Washington law? Property conditions that are discovered through
Answers 100% Pass
Rebecca receives an earnest money deposit in
the amount of $12,000. Which of the following
statements best describes the deposit of this When are real estate brokers allowed to work for
trust money? the Washington State Department of Licensing?
Rebecca may deposit it in the firm's regular trust After they disclose any potential conflicts of
account. interest
After they've been practicing five years
Rebecca must deposit it in an individual trust Once their licenses are inactivated
account set up for just this client. When they have written permission from their
designated brokers - ANSWER -Once their
Rebecca must deposit the funds in a non-interest licenses are inactivated
bearing trust account.
Rebecca must deposit the funds into a DOL
special trust fund account. - ANSWER - Who may supervise a managing broker in
**Rebecca may deposit it in the firm's regular Washington?
trust account.
A broker
A managing broker
The DOL director
In Washington, licensees renewing for the first The real estate commission - ANSWER -A
time will complete ______ hours in advanced managing broker
practice coursework, ______ hours in real estate
law, ______ hours of continuing education
coursework, and a ______-hour core course.
George is a buyer closing on a home purchase
15, 15, 27, 4 for which he's obtaining financing. He receives a
30, 30, 27, 3 Loan Estimate from his lender. What's the
30, 30, 30, 4 purpose of this document?
90, 90, 30, 3 - ANSWER -30, 30, 27, 3
To detail the amount George needs to bring to
closing
In addition to the required education and To detail the estimated closing costs for George's
experience to request a substitution, what must loan
applicants for a Washington managing broker's
license submit with the application? To disclose the interest rates available on this
lender's various loan programs
An additional licensing fee
Detailed resume To disclose the lender's source of loan funds -
Recommendation from designated broker ANSWER -To detail the estimated closing
Three reference letters - ANSWER - costs for George's loan
Detailed resume
, Washington State Nurse Delegation Practice Final Exam with
100% Verified Answers
Licensee Len receives an offer for his seller
client's property. It's a good offer that Len thinks Charlie represents Sue, a buyer, in Redmond.
his client will accept. The only wrinkle is that it Charlie is being paid by Claude, the seller,
includes a one-quarter interest in a local hunting through his brokerage. What's true about this
club as the earnest money deposit. Which of the situation?
following statements is true?
Charlie is Claude's agent.
It's Len's responsibility to research the title to the Sue is Claude's customer.
interest being offered as earnest money deposit, This doesn't change the agency relationships.
to ensure that it has value, before presenting the This is undisclosed dual agency. -
offer to his client. ANSWER -This doesn't change the agency
relationships.
Len must inform his seller client of the form of
earnest money before the seller signs the
purchase contract.
Thomas, a Washington broker, received a notice
Len must inform the DOL if his seller client of violation for having failed to provide records
accepts this earnest money deposit since the properly upon request. If he chooses to ignore
DOL must approve any earnest money the notice of violation, what may occur?
agreements for items other than cash or cash
equivalents. He may be subject to arrest.
Len should advise his seller client that only cash His license may be automatically revoked.
or cash equivalents may be used as earnest
money. - ANSWER -Len must inform his The case may be automatically moved to be
seller client of the form of earnest money before heard in superior court.
the seller signs the purchase contract.
The director may issue a default judgment and
impose sanctions based on whatever evidence is
available. - ANSWER -The director may
In order for a licensed firm to share commissions issue a default judgment and impose sanctions
with another firm, what must be true of the based on whatever evidence is available.
second firm?
It must be licensed to do business with the
original firm. In Washington, how many hours of coursework
It must employ at least two licensed individuals. must an applicant complete before applying for a
It must have been in business at least three managing broker's license?
years.
It must share its financial records with the original 120
firm. - ANSWER -It must be licensed to do 30
business with the original firm. 60
90 - ANSWER -90
, Washington State portion (real estate exam) Questions and
Answers 100% Pass
A cooperating broker must include alternative
methods of compensation in the buyer's
The Washington legislature has passed new brokerage agreement.
licensing legislation designed to change the
amount and type of education required for The cooperating brokerage firm may decline to
licensing. The director has proposed additional show to the buyer any properties for which there
licensing rules to support the new legislation. is no compensation agreement with the listing
What's the commission's role in this process? broker.
The commission has no responsibilities related to The cooperating broker may require the buyer to
this new legislation. pay a commission, even if it's not indicated in the
written agreement.
The commission must approve the new
legislation before it can be signed into law. The listing brokerage firm is required to split its
commission with the cooperating brokerage firm.
The commission will provide advice to the - ANSWER -The cooperating brokerage
director regarding the necessary rules to support firm may decline to show to the buyer any
the new laws. properties for which there is no compensation
agreement with the listing broker.
The commission will serve as the legislature's
ambassadors in gaining acceptance from those
in the real estate industry. - ANSWER -The
commission will provide advice to the director Terrance is a managing broker in Washington.
regarding necessary rules to support the new He's moving to a new firm. What does he have to
laws. do to transfer his license?
Complete the replace process.
Request approval from the Department of
In Washington, new licensees must complete a Licensing director.
three-hour ______ course before their first Use the reversion form and pay the correct fee.
renewal. Use the same process as a broker. -
ANSWER -Use the same process as a
Advanced practice broker.
Continuing education
Core
Real estate law - ANSWER -core
Based on Washington statutory duties, which of
the following is a material fact?
If a listing agreement doesn't state that the listing Based on a recent city council ruling, the buyer
broker is permitted to share compensation with a will be unable to use the property for the intended
cooperating broker, which of the following purpose.
statements is true about a cooperating (selling)
broker's responsibility under Washington law? Property conditions that are discovered through
