WA State exam ACTUAL UPDATED
Questions and CORRECT ANSWERS
What disciplinary action will occur if a Washington broker disregards a child support order? -
CORRECT ANSWER License suspension
When may a licensee receive compensation in Washington based on an appraisal result at or
above a specific prearranged price? - CORRECT ANSWER It's illegal in all
circumstances.
How is the Washington managing broker's exam presented? - CORRECT ANSWER As a
simulation-based exam
In Washington, which agency is authorized to disseminate and enforce real estate licensing laws?
- CORRECT ANSWER Department of Licensing
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 she entitled to receive from payors other than
her brokerage firm? - CORRECT ANSWER All compensation must be paid through her
broker
With which entity is Washington's DOL director partnered in order to create a real estate
research center? - CORRECT ANSWER The Runstad Center for Real Estate Studies
The Washington Department of Licensing cancelled Karen's license after one year because she
didn't renew it. Another six months has passed since her license was cancelled. What does Karen
have to do to get her license back? - CORRECT ANSWER Complete 60 clock hours of
continuing education coursework and file an affidavit of reactivation with the DOL.
Karl plans to shop around for his mortgage loan to be sure he's getting the best interest rate and
terms. What document from his lender permits him to make comparisons? - CORRECT
ANSWER The Loan Estimate permits Kenneth to comparison shop.
, Which of the following types of compensation are prohibited in Washington? - CORRECT
ANSWER Referral fees from settlement service providers to licensees
Frank, a Washington broker, wants to open his own Washington real estate firm. Which of the
following statements is true? - CORRECT ANSWER Frank must either hire or be
endorsed as a designated broker.
In Washington, which of the following statements regarding seller agency is true? - CORRECT
ANSWER A seller's agent represents the seller, while the buyer's agent represents the
buyer.
Which of these is an example of commingling in Washington? - CORRECT
ANSWER Mixing earnest money with personal funds
How long must confidential information remain confidential? - CORRECT
ANSWER Forever
Though Washington Administrative Code does allow the DOL director to develop written
recognition agreements with other states, in practice, what qualifies licensees from other states to
take only the state portion of the Washington licensing exam? - CORRECT ANSWER A
similar license in good standing from another state
In addition to passing a licensing exam and providing background qualifications and a credit
report, Washington escrow agents must provide proof that they hold what type of insurance
policy? - CORRECT ANSWER Errors and omissions
If a property management trust account in Washington bears interest, to whom must the interest
be distributed? - CORRECT ANSWER The property owner
In Washington, which agency is responsible for approving real estate schools and education? -
CORRECT ANSWER Department of Licensing
Questions and CORRECT ANSWERS
What disciplinary action will occur if a Washington broker disregards a child support order? -
CORRECT ANSWER License suspension
When may a licensee receive compensation in Washington based on an appraisal result at or
above a specific prearranged price? - CORRECT ANSWER It's illegal in all
circumstances.
How is the Washington managing broker's exam presented? - CORRECT ANSWER As a
simulation-based exam
In Washington, which agency is authorized to disseminate and enforce real estate licensing laws?
- CORRECT ANSWER Department of Licensing
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 she entitled to receive from payors other than
her brokerage firm? - CORRECT ANSWER All compensation must be paid through her
broker
With which entity is Washington's DOL director partnered in order to create a real estate
research center? - CORRECT ANSWER The Runstad Center for Real Estate Studies
The Washington Department of Licensing cancelled Karen's license after one year because she
didn't renew it. Another six months has passed since her license was cancelled. What does Karen
have to do to get her license back? - CORRECT ANSWER Complete 60 clock hours of
continuing education coursework and file an affidavit of reactivation with the DOL.
Karl plans to shop around for his mortgage loan to be sure he's getting the best interest rate and
terms. What document from his lender permits him to make comparisons? - CORRECT
ANSWER The Loan Estimate permits Kenneth to comparison shop.
, Which of the following types of compensation are prohibited in Washington? - CORRECT
ANSWER Referral fees from settlement service providers to licensees
Frank, a Washington broker, wants to open his own Washington real estate firm. Which of the
following statements is true? - CORRECT ANSWER Frank must either hire or be
endorsed as a designated broker.
In Washington, which of the following statements regarding seller agency is true? - CORRECT
ANSWER A seller's agent represents the seller, while the buyer's agent represents the
buyer.
Which of these is an example of commingling in Washington? - CORRECT
ANSWER Mixing earnest money with personal funds
How long must confidential information remain confidential? - CORRECT
ANSWER Forever
Though Washington Administrative Code does allow the DOL director to develop written
recognition agreements with other states, in practice, what qualifies licensees from other states to
take only the state portion of the Washington licensing exam? - CORRECT ANSWER A
similar license in good standing from another state
In addition to passing a licensing exam and providing background qualifications and a credit
report, Washington escrow agents must provide proof that they hold what type of insurance
policy? - CORRECT ANSWER Errors and omissions
If a property management trust account in Washington bears interest, to whom must the interest
be distributed? - CORRECT ANSWER The property owner
In Washington, which agency is responsible for approving real estate schools and education? -
CORRECT ANSWER Department of Licensing
