THE CE SHOP PRACTICE TEST SC REAL ESTATE EXAM QUESTIONS WITH CORRECT ANSWERS
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Course
The CE shop real estate
Institution
The CE Shop Real Estate
When performing a market analysis, given the adjusted sales prices of three comparable, which comparable would you weigh most heavily?
-The one that had more upward adjustments than the others
-The one that required less adjustment
-The one with an adjusted sales price higher than the actual sal...
Washington State Real Estate prep (CE
shop) Exam Questions with Correct
Answers
When is a Washington real estate license required?
a. When performing maintenance work for one property owner
b. When performing real estate activities for others, for compensation of any kind
c. When performing real estate activities for others, without compensation
d. When performing real estate activities for yourself - Answer-b. When performing real
estate activities for others, for compensation of any kind
How is the physical license for a branch office handled in Washington? - Answer-A
duplicate of the primary firm's license, which displays both the primary firm's and the
branch office's address, is issued.
In Washington, how many hours of coursework must an applicant complete before
applying for a managing broker's license? - Answer-90
Your client is interested in placing his earnest money deposit in an individual trust
account so that he can collect the interest. How large must the deposit be for this to be
an option in Washington? - Answer-Greater than $10,000
What disciplinary action will occur if a Washington broker disregards a child support
order? - Answer-License suspension
If a Washington real estate firm has a branch office, who's responsible for ensuring that
the affiliated licensees properly maintain their licenses?
a. Branch manager
b. Managing broker
c. Designated broker - Answer-a. Branch manager
Per Washington regulations, what's the primary function of a property management
accounting system?
a. Document cash in and cash out
b. Ensure interest to the owner
c. Provide forecasts - Answer-a. Document cash in and cash out
Robert's Washington real estate license was immediately restricted when he received
notice that a complaint had been filed against him and an investigation would follow.
What's the earliest that a hearing can be held after the notice is served?
,a. 30 days
b. 45 days
c. 60 days
d. As soon as possible - Answer-d. As soon as possible
Reggie is a real estate licensee and a licensed cosmetologist in Washington. The DOL
revokes Reggie's cosmetology license. Which of these statements about Reggie's real
estate license is true?
a. Because the revocation was in a field unrelated to real estate, Reggie's real estate
license is safe.
b. Reggie will be permitted to retain his real estate license until his cosmetology license
is reinstated so he can earn a living
c. The DOL may revoke Reggie's real estate license.
d. The Uniform Regulation of Business and Professions Act prohibits the DOL from
revoking two licenses simultaneously. - Answer-c. The DOL may revoke Reggie's real
estate license.
Kennedy, a Washington broker, tends to be rather informal about her real estate
business. Her daughter's teacher, Matthew, tells Kennedy that he'd like her help selling
his house. Kennedy tells Matthew she'll perform all the tasks she'd perform for any
listing, though she has no written agency agreement with Matthew. Do Matthew and
Kennedy have a legal agreement?
a. Yes. Express agreements may be verbal or written.
b. Yes. They have a verbal implied agreement. - Answer-a. Yes. Express agreements
may be verbal or written.
David's Washington license has been inactive for two years. What does he have to do
to reactivate it? - Answer-Complete and submit the DOL form.
Which of the following positions is appointed by the Washington DOL director to serve
as an non-voting member and preside over meetings? - Answer-Commission chair
How often are audits typically conducted on Washington brokerage transactional and
accounting records? - Answer-Every three years
Which of the following statements about an expired real estate license in Washington is
correct? - Answer-Expired licenses are considered inactive until renewal is complete.
, Which of the following statements about Washington trust accounts is true? - Answer-
Trust funds are to be held in interest-bearing demand deposit accounts, such as
checking or savings accounts.
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 Deana entitled to receive
from payors other than her brokerage firm? - Answer-All compensation must be paid
through her broker.
Olympia broker Ethan has advertised that he'll rebate a portion of his commission to
buyer clients. For Ethan to be allowed to make this deal, which of the following must be
true?
a. Ethan is a designated broker.
b. The buyers' lender must be made aware of the rebate. - Answer-b. The buyers'
lender must be made aware of the rebate.
In Washington, which agency is authorized to disseminate and enforce real estate
licensing laws? - Answer-Department of Licensing
Which of the following information must appear on the firm's records for a trust account
deposit?
a. The estimated closing date
b. The names of all contract parties
c. The payee
d. The source of funds - Answer-d. The source of funds
Which of the following is true regarding the definition of agency in Washington? -
Answer-Agency describes the relationship between the real estate professional and the
person or persons being represented
Which of the following is an allowable referral gift a Washington broker may give to an
unlicensed person?
a. $100 gift card
b. $400 in cash for referrals given after the person closes his or her own transaction
c. A $100 restaurant gift certificate once the referred person signs a contract
d. A home value consultation, valued at $200, for new clients only - Answer-b. $400 in
cash for referrals given after the person closes his or her own transaction
RCW 18.85 permits brokers to pay a referral fee to an unlicensed person who's not a
party to a transaction as long as the referral fee isn't contingent upon the broker or the
firm receiving any compensation.
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