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THE CE SHOP Exam Questions and Answers (Graded A)
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THE CE SHOP Exam Questions and Answers
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THE CE SHOP Exam Questions andAnswers
Which entity creates regulations governing real estate activities in Washington? -
Answer -Real Estate Commission
Brokers must deliver transactional documents and contracts to their managing or
designated brokers within how many business days? - Answer -Two
Firm financial management is a designated broker responsibility in Washington, but
financial oversight can be delegated to ______. - Answer -Managing brokers
If a Washington real estate firm has a branch office, who's responsible for ensuring that
the affiliated licensees maintain their licenses? - Answer -Branch manager
Designated brokers are required to cooperate with the Washington State Department of
Licensing in any audits or ______. - Answer -Investigations
Jean is a branch manager in Washington. For which of the following tasks must Jean
have specific permission from her designated broker? - Answer -Completing 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. - Answer
-Five
Relative to real estate contracts, for which of the following tasks related to her branch
office is a broker responsible? - Answer -Following 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? - Answer -Contracts
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. - Answer -Two
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? - Answer -Yes. 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. - Answer -Real 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? - Answer -The 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. -
Answer -Delegated
Which of the following statements best describes Washington regulatory power? -
Answer -Regulations created by Washington administrative agencies are codified and
published and are enforced as law.
A branch manager in Washington must be licensed as a ______. - Answer -Managing
broker
What's codified and often carries the force of law without being a law? - Answer -
Regulation
Washington brokers must follow license laws and rules relative to the handling of
customer funds and ______. - Answer -Property
During a legal seminar at your brokerage firm, you hear your broker mention
Washington's RCW. What does this mean? - Answer -Revised Code of Washington
What is created and codified by the Washington Legislature? - Answer -The 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? - Answer -Creates 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? - Answer -Handling trust accounts
What type of agency or organization creates and adopts Washington state regulations?
- Answer -Washington state administrative agencies, such as the real estate
commission
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