Washington Real Estate Practices | Questions with 100% Correct Answers | Verified

Lesson 1 - Starting a New Profession - Part 1 Market research should focus on: A) the competition in your area B) inventory C) both D) neither - C) both Feedback: Correct: Market research should focus on your area and include the demand for your services, competition, inventory (quantity, quality, and pricing of homes for sale), and market trends. As a real estate professional, the federal government considers you to be: A) self-employed B) independent C) responsible for your own federal tax withholdings D) all of the above - D) all of the above Feedback: Correct: You are considered by the federal government to be self-employed, an independent contractor, and thus responsible for your own federal tax withholdings. Which form will a licensed broker receive from a firm to report earnings to the IRS? A) 1099 B) 1040 C) Schedule B