Washington State Public Safety Test for Law Enfo
vt vt vt vt vt vt vt
rcment
WASHINGTON STATE PORTION (REAL ESTATE
EXAM)
Rebeccavtreceivesvtanvtearnestvtmoneyvtdepositvtinvtthevtamountvtofvt$12,000.vtWhichvtofvtthevtfollowingvtstatementsvtbe
describesvtthevtdepositvtofvtthisvttrustvtmoney?
Rebeccavtmayvtdepositvtitvtinvtthevtfirm'svtregularvttrustvtaccount.
Rebeccavtmustvtdepositvtitvtinvtanvtindividualvttrustvtaccountvtsetvtupvtforvtjustvtthisvtclient.
Rebeccavtmustvtdepositvtthevtfundsvtinvtavtnon-interestvtbearingvttrustvtaccount.
RebeccavtmustvtdepositvtthevtfundsvtintovtavtDOLvtspecialvttrustvtfundvtaccount.vt-vtanswer--
**Rebeccavtmayvtdepositvtitvtinvtthevtfirm'svtregularvttrustvtaccount.
InvtWashington,vtlicenseesvtrenewingvtforvtthevtfirstvttimevtwillvtcompletevt______vthoursvtinvtadvancedvtpracticevtcoursew
rk,vt______vthoursvtinvtrealvtestatevtlaw,vt______vthoursvtofvtcontinuingvteducationvtcoursework,vtandvtavt______-
hourvtcorevtcourse.
15,vt15,vt27,vt4
30,vt30,vt27,vt3
30,vt30,vt30,vt4
90,vt90,vt30,vt3vt-vtanswer--30,vt30,vt27,vt3
Invtadditionvttovtthevtrequiredvteducationvtandvtexperiencevttovtrequestvtavtsubstitution,vtwhatvtmustvtapplicantsvtforvtavtWa
ingtonvtmanagingvtbroker'svtlicensevtsubmitvtwithvtthevtapplication?
Anvtadditionalvtlicensingvtfee
Detailedvtresume
Recommendationvtfromvtdesignatedvtbroker
Threevtreferencevtlettersvt-vtanswer--Detailedvtresume
WhenvtarevtrealvtestatevtbrokersvtallowedvttovtworkvtforvtthevtWashingtonvtStatevtDepartmentvtofvtLicensing?
Aftervttheyvtdisclosevtanyvtpotentialvtconflictsvtofvtinterest
Aftervtthey'vevtbeenvtpracticingvtfivevtyears
Oncevttheirvtlicensesvtarevtinactivated
Whenvttheyvthavevtwrittenvtpermissionvtfromvttheirvtdesignatedvtbrokersvt-vtanswer--Oncevttheirvtlicensesvtarevtinactivate
WhovtmayvtsupervisevtavtmanagingvtbrokervtinvtWashington?
Avtbroker
Avtmanagingvtbroker
ThevtDOLvtdirector
Thevtrealvtestatevtcommissionvt-vtanswer--Avtmanagingvtbroker
1vt/
vt17
, Washington State Public Safety Test for Law Enfo
vt vt vt vt vt vt vt
rcment
Georgevtisvtavtbuyervtclosingvtonvtavthomevtpurchasevtforvtwhichvthe'svtobtainingvtfinancing.vtHevtreceivesvtavtLoanvtEstim
evtfromvthisvtlender.vtWhat'svtthevtpurposevtofvtthisvtdocument?
TovtdetailvtthevtamountvtGeorgevtneedsvttovtbringvttovtclosing
TovtdetailvtthevtestimatedvtclosingvtcostsvtforvtGeorge'svtloan
Tovtdisclosevtthevtinterestvtratesvtavailablevtonvtthisvtlender'svtvariousvtloanvtprograms
Tovtdisclosevtthevtlender'svtsourcevtofvtloanvtfundsvt-vtanswer--TovtdetailvtthevtestimatedvtclosingvtcostsvtforvtGeorge'svtloa
LicenseevtLenvtreceivesvtanvtoffervtforvthisvtsellervtclient'svtproperty.vtIt'svtavtgoodvtoffervtthatvtLenvtthinksvthisvtclientvtwillvta
ept.vtThevtonlyvtwrinklevtisvtthatvtitvtincludesvtavtone-
quartervtinterestvtinvtavtlocalvthuntingvtclubvtasvtthevtearnestvtmoneyvtdeposit.vtWhichvtofvtthevtfollowingvtstatementsvtisvttru
?
It'svtLen'svtresponsibilityvttovtresearchvtthevttitlevttovtthevtinterestvtbeingvtofferedvtasvtearnestvtmoneyvtdeposit,vttovtensurev
atvtitvthasvtvalue,vtbeforevtpresentingvtthevtoffervttovthisvtclient.
Lenvtmustvtinformvthisvtsellervtclientvtofvtthevtformvtofvtearnestvtmoneyvtbeforevtthevtsellervtsignsvtthevtpurchasevtcontract.
LenvtmustvtinformvtthevtDOLvtifvthisvtsellervtclientvtacceptsvtthisvtearnestvtmoneyvtdepositvtsincevtthevtDOLvtmustvtapprove
nyvtearnestvtmoneyvtagreementsvtforvtitemsvtothervtthanvtcashvtorvtcashvtequivalents.
Lenvtshouldvtadvisevthisvtsellervtclientvtthatvtonlyvtcashvtorvtcashvtequivalentsvtmayvtbevtusedvtasvtearnestvtmoney.vt-
vtanswer--
Lenvtmustvtinformvthisvtsellervtclientvtofvtthevtformvtofvtearnestvtmoneyvtbeforevtthevtsellervtsignsvtthevtpurchasevtcontract.
Invtordervtforvtavtlicensedvtfirmvttovtsharevtcommissionsvtwithvtanothervtfirm,vtwhatvtmustvtbevttruevtofvtthevtsecondvtfirm?
Itvtmustvtbevtlicensedvttovtdovtbusinessvtwithvtthevtoriginalvtfirm.
Itvtmustvtemployvtatvtleastvttwovtlicensedvtindividuals.
Itvtmustvthavevtbeenvtinvtbusinessvtatvtleastvtthreevtyears.
Itvtmustvtsharevtitsvtfinancialvtrecordsvtwithvtthevtoriginalvtfirm.vt-vtanswer--
Itvtmustvtbevtlicensedvttovtdovtbusinessvtwithvtthevtoriginalvtfirm.
CharlievtrepresentsvtSue,vtavtbuyer,vtinvtRedmond.vtCharlievtisvtbeingvtpaidvtbyvtClaude,vtthevtseller,vtthroughvthisvtbrokera
e.vtWhat'svttruevtaboutvtthisvtsituation?
CharlievtisvtClaude'svtagent.
SuevtisvtClaude'svtcustomer.
Thisvtdoesn'tvtchangevtthevtagencyvtrelationships.
Thisvtisvtundisclosedvtdualvtagency.vt-vtanswer--Thisvtdoesn'tvtchangevtthevtagencyvtrelationships.
Thomas,vtavtWashingtonvtbroker,vtreceivedvtavtnoticevtofvtviolationvtforvthavingvtfailedvttovtprovidevtrecordsvtproperlyvtupo
request.vtIfvthevtchoosesvttovtignorevtthevtnoticevtofvtviolation,vtwhatvtmayvtoccur?
Hevtmayvtbevtsubjectvttovtarrest.
Hisvtlicensevtmayvtbevtautomaticallyvtrevoked.
2vt/
vt17
, Washington State Public Safety Test for Law Enfo
vt vt vt vt vt vt vt
rcment
Thevtcasevtmayvtbevtautomaticallyvtmovedvttovtbevtheardvtinvtsuperiorvtcourt.
Thevtdirectorvtmayvtissuevtavtdefaultvtjudgmentvtandvtimposevtsanctionsvtbasedvtonvtwhatevervtevidencevtisvtavailable.vt-
vtanswer--
Thevtdirectorvtmayvtissuevtavtdefaultvtjudgmentvtandvtimposevtsanctionsvtbasedvtonvtwhatevervtevidencevtisvtavailable.
InvtWashington,vthowvtmanyvthoursvtofvtcourseworkvtmustvtanvtapplicantvtcompletevtbeforevtapplyingvtforvtavtmanagingvtb
ker'svtlicense?
120
30
60
90vt-vtanswer--90
ThevtWashingtonvtlegislaturevthasvtpassedvtnewvtlicensingvtlegislationvtdesignedvttovtchangevtthevtamountvtandvttypevtof
ducationvtrequiredvtforvtlicensing.vtThevtdirectorvthasvtproposedvtadditionalvtlicensingvtrulesvttovtsupportvtthevtnewvtlegisla
on.vtWhat'svtthevtcommission'svtrolevtinvtthisvtprocess?
Thevtcommissionvthasvtnovtresponsibilitiesvtrelatedvttovtthisvtnewvtlegislation.
Thevtcommissionvtmustvtapprovevtthevtnewvtlegislationvtbeforevtitvtcanvtbevtsignedvtintovtlaw.
Thevtcommissionvtwillvtprovidevtadvicevttovtthevtdirectorvtregardingvtthevtnecessaryvtrulesvttovtsupportvtthevtnewvtlaws.
Thevtcommissionvtwillvtservevtasvtthevtlegislature'svtambassadorsvtinvtgainingvtacceptancevtfromvtthosevtinvtthevtrealvtesta
vtindustry.vt-vtanswer--
Thevtcommissionvtwillvtprovidevtadvicevttovtthevtdirectorvtregardingvtnecessaryvtrulesvttovtsupportvtthevtnewvtlaws.
InvtWashington,vtnewvtlicenseesvtmustvtcompletevtavtthree-hourvt______vtcoursevtbeforevttheirvtfirstvtrenewal.
Advancedvtpractice
Continuingvteducation
Core
Realvtestatevtlawvt-vtanswer--core
Ifvtavtlistingvtagreementvtdoesn'tvtstatevtthatvtthevtlistingvtbrokervtisvtpermittedvttovtsharevtcompensationvtwithvtavtcooperati
vtbroker,vtwhichvtofvtthevtfollowingvtstatementsvtisvttruevtaboutvtavtcooperatingvt(selling)vtbroker'svtresponsibility vtundervtW
hingtonvtlaw?
Avtcooperatingvtbrokervtmustvtincludevtalternativevtmethodsvtofvtcompensationvtinvtthevtbuyer'svtbrokeragevtagreement.
Thevtcooperatingvtbrokeragevtfirmvtmayvtdeclinevttovtshowvttovtthevtbuyervtanyvtpropertiesvtforvtwhichvttherevtisvtnovtcompe
sationvtagreementvtwithvtthevtlistingvtbroker.
Thevtcooperatingvtbrokervtmayvtrequirevtthevtbuyervttovtpayvtavtcommission,vtevenvtifvtit'svtnotvtindicatedvtinvtthevtwrittenvtag
ement.
Thevtlistingvtbrokeragevtfirmvtisvtrequiredvttovtsplitvtitsvtcommissionvtwithvtthevtcooperatingvtbrokeragevtfirm.vt-vtanswer--
Thevtcooperatingvtbrokeragevtfirmvtmayvtdeclinevttovtshowvttovtthevtbuyervtanyvtpropertiesvtforvtwhichvttherevtisvtnovtcompe
sationvtagreementvtwithvtthevtlistingvtbroker.
3vt/
vt17
vt vt vt vt vt vt vt
rcment
WASHINGTON STATE PORTION (REAL ESTATE
EXAM)
Rebeccavtreceivesvtanvtearnestvtmoneyvtdepositvtinvtthevtamountvtofvt$12,000.vtWhichvtofvtthevtfollowingvtstatementsvtbe
describesvtthevtdepositvtofvtthisvttrustvtmoney?
Rebeccavtmayvtdepositvtitvtinvtthevtfirm'svtregularvttrustvtaccount.
Rebeccavtmustvtdepositvtitvtinvtanvtindividualvttrustvtaccountvtsetvtupvtforvtjustvtthisvtclient.
Rebeccavtmustvtdepositvtthevtfundsvtinvtavtnon-interestvtbearingvttrustvtaccount.
RebeccavtmustvtdepositvtthevtfundsvtintovtavtDOLvtspecialvttrustvtfundvtaccount.vt-vtanswer--
**Rebeccavtmayvtdepositvtitvtinvtthevtfirm'svtregularvttrustvtaccount.
InvtWashington,vtlicenseesvtrenewingvtforvtthevtfirstvttimevtwillvtcompletevt______vthoursvtinvtadvancedvtpracticevtcoursew
rk,vt______vthoursvtinvtrealvtestatevtlaw,vt______vthoursvtofvtcontinuingvteducationvtcoursework,vtandvtavt______-
hourvtcorevtcourse.
15,vt15,vt27,vt4
30,vt30,vt27,vt3
30,vt30,vt30,vt4
90,vt90,vt30,vt3vt-vtanswer--30,vt30,vt27,vt3
Invtadditionvttovtthevtrequiredvteducationvtandvtexperiencevttovtrequestvtavtsubstitution,vtwhatvtmustvtapplicantsvtforvtavtWa
ingtonvtmanagingvtbroker'svtlicensevtsubmitvtwithvtthevtapplication?
Anvtadditionalvtlicensingvtfee
Detailedvtresume
Recommendationvtfromvtdesignatedvtbroker
Threevtreferencevtlettersvt-vtanswer--Detailedvtresume
WhenvtarevtrealvtestatevtbrokersvtallowedvttovtworkvtforvtthevtWashingtonvtStatevtDepartmentvtofvtLicensing?
Aftervttheyvtdisclosevtanyvtpotentialvtconflictsvtofvtinterest
Aftervtthey'vevtbeenvtpracticingvtfivevtyears
Oncevttheirvtlicensesvtarevtinactivated
Whenvttheyvthavevtwrittenvtpermissionvtfromvttheirvtdesignatedvtbrokersvt-vtanswer--Oncevttheirvtlicensesvtarevtinactivate
WhovtmayvtsupervisevtavtmanagingvtbrokervtinvtWashington?
Avtbroker
Avtmanagingvtbroker
ThevtDOLvtdirector
Thevtrealvtestatevtcommissionvt-vtanswer--Avtmanagingvtbroker
1vt/
vt17
, Washington State Public Safety Test for Law Enfo
vt vt vt vt vt vt vt
rcment
Georgevtisvtavtbuyervtclosingvtonvtavthomevtpurchasevtforvtwhichvthe'svtobtainingvtfinancing.vtHevtreceivesvtavtLoanvtEstim
evtfromvthisvtlender.vtWhat'svtthevtpurposevtofvtthisvtdocument?
TovtdetailvtthevtamountvtGeorgevtneedsvttovtbringvttovtclosing
TovtdetailvtthevtestimatedvtclosingvtcostsvtforvtGeorge'svtloan
Tovtdisclosevtthevtinterestvtratesvtavailablevtonvtthisvtlender'svtvariousvtloanvtprograms
Tovtdisclosevtthevtlender'svtsourcevtofvtloanvtfundsvt-vtanswer--TovtdetailvtthevtestimatedvtclosingvtcostsvtforvtGeorge'svtloa
LicenseevtLenvtreceivesvtanvtoffervtforvthisvtsellervtclient'svtproperty.vtIt'svtavtgoodvtoffervtthatvtLenvtthinksvthisvtclientvtwillvta
ept.vtThevtonlyvtwrinklevtisvtthatvtitvtincludesvtavtone-
quartervtinterestvtinvtavtlocalvthuntingvtclubvtasvtthevtearnestvtmoneyvtdeposit.vtWhichvtofvtthevtfollowingvtstatementsvtisvttru
?
It'svtLen'svtresponsibilityvttovtresearchvtthevttitlevttovtthevtinterestvtbeingvtofferedvtasvtearnestvtmoneyvtdeposit,vttovtensurev
atvtitvthasvtvalue,vtbeforevtpresentingvtthevtoffervttovthisvtclient.
Lenvtmustvtinformvthisvtsellervtclientvtofvtthevtformvtofvtearnestvtmoneyvtbeforevtthevtsellervtsignsvtthevtpurchasevtcontract.
LenvtmustvtinformvtthevtDOLvtifvthisvtsellervtclientvtacceptsvtthisvtearnestvtmoneyvtdepositvtsincevtthevtDOLvtmustvtapprove
nyvtearnestvtmoneyvtagreementsvtforvtitemsvtothervtthanvtcashvtorvtcashvtequivalents.
Lenvtshouldvtadvisevthisvtsellervtclientvtthatvtonlyvtcashvtorvtcashvtequivalentsvtmayvtbevtusedvtasvtearnestvtmoney.vt-
vtanswer--
Lenvtmustvtinformvthisvtsellervtclientvtofvtthevtformvtofvtearnestvtmoneyvtbeforevtthevtsellervtsignsvtthevtpurchasevtcontract.
Invtordervtforvtavtlicensedvtfirmvttovtsharevtcommissionsvtwithvtanothervtfirm,vtwhatvtmustvtbevttruevtofvtthevtsecondvtfirm?
Itvtmustvtbevtlicensedvttovtdovtbusinessvtwithvtthevtoriginalvtfirm.
Itvtmustvtemployvtatvtleastvttwovtlicensedvtindividuals.
Itvtmustvthavevtbeenvtinvtbusinessvtatvtleastvtthreevtyears.
Itvtmustvtsharevtitsvtfinancialvtrecordsvtwithvtthevtoriginalvtfirm.vt-vtanswer--
Itvtmustvtbevtlicensedvttovtdovtbusinessvtwithvtthevtoriginalvtfirm.
CharlievtrepresentsvtSue,vtavtbuyer,vtinvtRedmond.vtCharlievtisvtbeingvtpaidvtbyvtClaude,vtthevtseller,vtthroughvthisvtbrokera
e.vtWhat'svttruevtaboutvtthisvtsituation?
CharlievtisvtClaude'svtagent.
SuevtisvtClaude'svtcustomer.
Thisvtdoesn'tvtchangevtthevtagencyvtrelationships.
Thisvtisvtundisclosedvtdualvtagency.vt-vtanswer--Thisvtdoesn'tvtchangevtthevtagencyvtrelationships.
Thomas,vtavtWashingtonvtbroker,vtreceivedvtavtnoticevtofvtviolationvtforvthavingvtfailedvttovtprovidevtrecordsvtproperlyvtupo
request.vtIfvthevtchoosesvttovtignorevtthevtnoticevtofvtviolation,vtwhatvtmayvtoccur?
Hevtmayvtbevtsubjectvttovtarrest.
Hisvtlicensevtmayvtbevtautomaticallyvtrevoked.
2vt/
vt17
, Washington State Public Safety Test for Law Enfo
vt vt vt vt vt vt vt
rcment
Thevtcasevtmayvtbevtautomaticallyvtmovedvttovtbevtheardvtinvtsuperiorvtcourt.
Thevtdirectorvtmayvtissuevtavtdefaultvtjudgmentvtandvtimposevtsanctionsvtbasedvtonvtwhatevervtevidencevtisvtavailable.vt-
vtanswer--
Thevtdirectorvtmayvtissuevtavtdefaultvtjudgmentvtandvtimposevtsanctionsvtbasedvtonvtwhatevervtevidencevtisvtavailable.
InvtWashington,vthowvtmanyvthoursvtofvtcourseworkvtmustvtanvtapplicantvtcompletevtbeforevtapplyingvtforvtavtmanagingvtb
ker'svtlicense?
120
30
60
90vt-vtanswer--90
ThevtWashingtonvtlegislaturevthasvtpassedvtnewvtlicensingvtlegislationvtdesignedvttovtchangevtthevtamountvtandvttypevtof
ducationvtrequiredvtforvtlicensing.vtThevtdirectorvthasvtproposedvtadditionalvtlicensingvtrulesvttovtsupportvtthevtnewvtlegisla
on.vtWhat'svtthevtcommission'svtrolevtinvtthisvtprocess?
Thevtcommissionvthasvtnovtresponsibilitiesvtrelatedvttovtthisvtnewvtlegislation.
Thevtcommissionvtmustvtapprovevtthevtnewvtlegislationvtbeforevtitvtcanvtbevtsignedvtintovtlaw.
Thevtcommissionvtwillvtprovidevtadvicevttovtthevtdirectorvtregardingvtthevtnecessaryvtrulesvttovtsupportvtthevtnewvtlaws.
Thevtcommissionvtwillvtservevtasvtthevtlegislature'svtambassadorsvtinvtgainingvtacceptancevtfromvtthosevtinvtthevtrealvtesta
vtindustry.vt-vtanswer--
Thevtcommissionvtwillvtprovidevtadvicevttovtthevtdirectorvtregardingvtnecessaryvtrulesvttovtsupportvtthevtnewvtlaws.
InvtWashington,vtnewvtlicenseesvtmustvtcompletevtavtthree-hourvt______vtcoursevtbeforevttheirvtfirstvtrenewal.
Advancedvtpractice
Continuingvteducation
Core
Realvtestatevtlawvt-vtanswer--core
Ifvtavtlistingvtagreementvtdoesn'tvtstatevtthatvtthevtlistingvtbrokervtisvtpermittedvttovtsharevtcompensationvtwithvtavtcooperati
vtbroker,vtwhichvtofvtthevtfollowingvtstatementsvtisvttruevtaboutvtavtcooperatingvt(selling)vtbroker'svtresponsibility vtundervtW
hingtonvtlaw?
Avtcooperatingvtbrokervtmustvtincludevtalternativevtmethodsvtofvtcompensationvtinvtthevtbuyer'svtbrokeragevtagreement.
Thevtcooperatingvtbrokeragevtfirmvtmayvtdeclinevttovtshowvttovtthevtbuyervtanyvtpropertiesvtforvtwhichvttherevtisvtnovtcompe
sationvtagreementvtwithvtthevtlistingvtbroker.
Thevtcooperatingvtbrokervtmayvtrequirevtthevtbuyervttovtpayvtavtcommission,vtevenvtifvtit'svtnotvtindicatedvtinvtthevtwrittenvtag
ement.
Thevtlistingvtbrokeragevtfirmvtisvtrequiredvttovtsplitvtitsvtcommissionvtwithvtthevtcooperatingvtbrokeragevtfirm.vt-vtanswer--
Thevtcooperatingvtbrokeragevtfirmvtmayvtdeclinevttovtshowvttovtthevtbuyervtanyvtpropertiesvtforvtwhichvttherevtisvtnovtcompe
sationvtagreementvtwithvtthevtlistingvtbroker.
3vt/
vt17
