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Washington State portion (real estate exam) Questions and Answers (Latest Update 2024)
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Washington State portion (real estate exam) Questions and Answers (Latest Update 2024)
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Washington State portion (real estateexam) Questions and Answers (Latest
Update 2024)
Rebecca receives an earnest money deposit in the amount of
$12,000. Which of the following statements best describes
the deposit of this trust money?
Rebecca may deposit it in the firm's regular trust account.
Rebecca must deposit it in an individual trust account set up
for just this client.
Rebecca must deposit the funds in a non-interest bearing
trust account.
Rebecca must deposit the funds into a DOL special trust fund
account. - Correct Answer ✅ **Rebecca may deposit it in
the firm's regular trust account.
In Washington, licensees renewing for the first time will
complete ______ hours in advanced practice coursework,
______ hours in real estate law, ______ hours of continuing
education coursework, and a ______-hour core course.
,Washington State portion (real estate
exam) Questions and Answers (Latest
Update 2024)
15, 15, 27, 4
30, 30, 27, 3
30, 30, 30, 4
90, 90, 30, 3 - Correct Answer ✅ 30, 30, 27, 3
In addition to the required education and experience to
request a substitution, what must applicants for a Washington
managing broker's license submit with the application?
An additional licensing fee
Detailed resume
Recommendation from designated broker
Three reference letters - Correct Answer ✅ Detailed
resume
When are real estate brokers allowed to work for the
Washington State Department of Licensing?
,Washington State portion (real estate
exam) Questions and Answers (Latest
Update 2024)
After they disclose any potential conflicts of interest
After they've been practicing five years
Once their licenses are inactivated
When they have written permission from their designated
brokers - Correct Answer ✅ Once their licenses are
inactivated
Who may supervise a managing broker in Washington?
A broker
A managing broker
The DOL director
The real estate commission - Correct Answer ✅ A
managing broker
George is a buyer closing on a home purchase for which he's
obtaining financing. He receives a Loan Estimate from his
lender. What's the purpose of this document?
, Washington State portion (real estate
exam) Questions and Answers (Latest
Update 2024)
To detail the amount George needs to bring to closing
To detail the estimated closing costs for George's loan
To disclose the interest rates available on this lender's various
loan programs
To disclose the lender's source of loan funds - Correct
Answer ✅ To detail the estimated closing costs for George's
loan
Licensee Len receives an offer for his seller client's property.
It's a good offer that Len thinks his client will accept. The only
wrinkle is that it includes a one-quarter interest in a local
hunting club as the earnest money deposit. Which of the
following statements is true?
It's Len's responsibility to research the title to the interest
being offered as earnest money deposit, to ensure that it has
value, before presenting the offer to his client.
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