Washington State Brokers Exam 2023 Cram Test #1 Correct Questions & Answers

Which of the following best describes the difference between building codes and zoning regulations? - ANSWERSBuilding codes affect improvements on the property; zoning regulations control the use of real property A independent contractor relationship between a real estate brokerage firm and a licensee requires that the: - ANSWERSbrokerage and licensee must enter into a written agreement An advertisement for a house includes only the following phrase about financing: "Assume the owners original loan with only a $1000 downpayment!" What is wrong with this advertisement? - ANSWERSIt doesnt also include the loans annual percentage rate and other financing terms Bobs property has a fair market value of $190000. It is in a county where properties are assessed at 50% of value, and the tax rate is $55 per $1000 of assessed value. Whats Bobs annual property tax? - ANSWERS$5,225 explanation: Jesse, Kim, and Diane own a home together as joint tenants. if Jesse dies her property interest: - ANSWERSwill be automatically transferred to Kim and Diane a sellers agent knows that the seller intentionally failed to disclose on the property disclosure statements that the basement leaks during heavy rains. The sellers agent must: - ANSWERSinform the prospective buyer that there is misrepresented information on the disclosure form