THE CE SHOP QUESTIONS AND ANSWERS GRADED A+
Which entity creates regulations governing real estate activities in Washington?
Real Estate Commission
Brokers must deliver transactional documents and contracts to their managing or designated brokers within how many business days?
Two
...
Which entity creates regulations governing real estate activities in Washington? -
answerReal Estate Commission
Brokers must deliver transactional documents and contracts to their managing or
designated brokers within how many business days? - answerTwo
Firm financial management is a designated broker responsibility in Washington, but
financial oversight can be delegated to ______. - answerManaging brokers
If a Washington real estate firm has a branch office, who's responsible for ensuring that
the affiliated licensees maintain their licenses? - answerBranch manager
Designated brokers are required to cooperate with the Washington State Department of
Licensing in any audits or ______. - answerInvestigations
Jean is a branch manager in Washington. For which of the following tasks must Jean
have specific permission from her designated broker? - answerCompleting monthly trust
account reconciliations
If a Washington real estate firm is closing, the firm's designated broker must provide an
affidavit to the Washington State Department of Licensing within ______ days. -
answerFive
Relative to real estate contracts, for which of the following tasks related to her branch
office is a broker responsible? - answerFollowing license laws for terminating service
contracts with her clients.
Washington rules indicate that a designated broker may delegate to a branch manager
the task of reviewing which of the following documents? - answerContracts
In Washington, designated brokers must ensure that all contracts are submitted for
recordkeeping at the brokerage no more than ______ days after the parties sign the
contract. - answerTwo
Carmine met with a seller and left with a signed agency agreement. Before she
submitted it to her managing broker, the client called and asked her to cancel it. She
, tore it up. Did Carmine act outside the scope of her authority? - answerYes. Carmine
was acting as a sub-agent of her managing broker, and the agreement was between the
firm and the seller.
Licensees in Washington must have at least two years of ______ to apply for a
managing broker license. - answerReal estate broker experience
Jonathan, the branch manager for Lonetree Realty, developed and implemented a
creative advertising campaign for his branch. Based on Washington law, which
statement about this is true? - answerThe designated broker must delegate authority to
Jonathan for advertising activities.
A managing broker is allowed, by Washington rules, to do certain tasks related to
licensee supervision, but only if those tasks are ______ by the designated broker. -
answerDelegated
Which of the following statements best describes Washington regulatory power? -
answerRegulations created by Washington administrative agencies are codified and
published and are enforced as law.
A branch manager in Washington must be licensed as a ______. - answerManaging
broker
What's codified and often carries the force of law without being a law? -
answerRegulation
Washington brokers must follow license laws and rules relative to the handling of
customer funds and ______. - answerProperty
During a legal seminar at your brokerage firm, you hear your broker mention
Washington's RCW. What does this mean? - answerRevised Code of Washington
What is created and codified by the Washington Legislature? - answerThe Revised
Code of Washington
The Washington legislature passes a law requiring that any firm that accepts wire
transfers for closing funds provide a warning regarding potential wire fraud to customers
and clients. What steps does the real estate commission take? - answerCreates and
adopts regulations to indicate how firms are to implement the law.
Which of the following must be specifically delegated in order for a Washington branch
manager to perform it? - answerHandling trust accounts
What type of agency or organization creates and adopts Washington state regulations?
- answerWashington state administrative agencies, such as the real estate commission
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