Washington Real Estate Practice exam| Questions with 100% Correct Answers | Verified

You are recording an accrued expense for your seller client, Sam Bosworth. This represents an item that Sam ____________________. - Has incurred but hasn't paid Because proper trust fund handling and record keeping is extremely important, the ________ conducts routine audits of real estate companies. - Washington State Department of Licensing Karen would like to sell her own home. What's the minimum real estate license she must possess? - 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? - Transaction coordinator Which designation may you not use in any marketing materials unless you belong to NAR? - REALTOR What's part of the licensee's role in the closing process? - 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. - Request a hearing. How are Washington commission members selected? - Appointed by the governor. In Washington, the buyer usually pays for which of the following title insurance policies? - Lender's title insurance Amendments to a Washington property management agreement must be ______. - Written