WA State exam 2023 questions and answers graded A
What disciplinary action will occur if a Washington broker disregards a child support order?
License suspension
When may a licensee receive compensation in Washington based on an appraisal result at or above a specific prearranged price?
It's ...
WA State exam 2023 questions and answers graded A
What disciplinary action will occur if a Washington broker disregards a child
support order?
License suspension
When may a licensee receive compensation in Washington based on an appraisal
result at or above a specific prearranged price?
It's illegal in all circumstances.
How is the Washington managing broker's exam presented?
As a simulation-based exam
In Washington, which agency is authorized to disseminate and enforce real estate
licensing laws?
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?
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?
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?
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?
The Loan Estimate permits Kenneth to comparison shop.
Which of the following types of compensation are prohibited in Washington?
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?
Frank must either hire or be endorsed as a designated broker.
In Washington, which of the following statements regarding seller agency is true?
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?
Mixing earnest money with personal funds
How long must confidential information remain confidential?
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?
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?
Errors and omissions
If a property management trust account in Washington bears interest, to whom
must the interest be distributed?
The property owner
In Washington, which agency is responsible for approving real estate schools
and education?
Department of Licensing
Tamara is assisting a buyer who's making an offer on her client's listing in
Renton. Tamara and the buyer develop a good rapport, and in her desire to be
helpful, Tamara offers the buyer advice about how to structure her offer. What
does Tamara risk being charged with?
Undisclosed dual agency
After a Washington lease agreement expires and a tenant vacates the property,
leaving it in good condition, how long does the landlord have to return the
security deposit?
21 days
Which of the following is a reason that a proposed real estate company name
may be rejected by the Washington State Department of Licensing?
The name implies affiliation with the government.
Branch managers in Washington can supervise licensees and review their
contracts if these duties are ______ by the designated broker.
Delegated
Which document is signed and agreed to at closing and reconciles what the final
financial obligations are for both the buyer and seller?
Closing statement
In Washington, a designated broker ______.
Holds a managing broker's license with a special DOL endorsement
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 often is the Washington Commission required to meet?
Four times a year
Rocco, an agent licensed in Guam, brings the buyer to the table for a West Side
Realty listing. West Side wires Rocco's commission to the brokerage firm in
Rome, Italy. Is this permitted?
Yes, as long as Italy has a real estate regulatory program.
How do you create implied agency?
Through the parties' actions
How many total hours of coursework must a Washington licensee renewing for
the first time have taken?
90
How does Washington define subagency?
An agent appointed by another agent to assist the principal
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