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30 hr WA Real Estate Practice Exam Solved 2024
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30 hr WA Real Estate Practice Exam Solved 2024
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30 hr WA Real Estate Practice ExamSolved 2024
A branch manager in Washington must be licensed as a ______. - ANSWER-Managing
broker
A client's earnest money deposit will be more than $10,000. Which one of the following
statements about this deposit is true? - ANSWER-The buyer has the option of placing
the funds in a separate interest-bearing account.
A routine audit of a real estate company by the Washington State Department of
Licensing will take place where? - ANSWER-At the main license location
A Washington managing broker is allowed to complete certain tasks related to licensee
supervision, but only if those tasks are ______ by the designated broker. - ANSWER-
Delegated
A(n) ______ budget helps property managers maximize profitability and avoid
unforeseen major expenses and repairs. - ANSWER-Operating
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? -
ANSWER-21 days
After beginning the investigation process into a complaint against a managing broker,
the director is concerned that additional harm may be caused by waiting for the hearing
process to take place. Which of the following options does the director have? -
ANSWER-Issue an emergency license suspension.
After completing the required coursework, a candidate has ______ year(s) to complete
the Washington broker's exam. - ANSWER-Two
Agents Bothwell and Dones work for Hillside Realty. They've both worked with Jacob to
find the perfect home for him. When Jacob finally buys a house, Dones, who's also the
buyer's agent, receives his portion of the commission from Hillside. Dones then gives
half of his commission to Bothwell. This is ______. - ANSWER-Illegal, because all
commissions and commission splits must be paid through the brokerage firm
All new Washington licensees must submit fingerprint cards when applying for a real
estate license. How often do licensees submit fingerprint cards after they receive their
first license? - ANSWER-Every three renewal periods
,Amendments to a Washington property management agreement must be ______. -
ANSWER-Written
An administrative hearing in Washington may be held when a licensee appeals the
decision from a brief adjudicative hearing. In what other situation is an administrative
law hearing held? - ANSWER-To respond to a licensing law complaint when the hearing
is more complex than a brief adjudicative hearing will resolve.
As a way to deal with a slump in the real estate market in Washington, you've decided
to launch a marketing campaign to pull in more clients. You create a series of ads
claiming you're the best broker in town. What unprofessional conduct are you potentially
engaging in? - ANSWER-False or misleading advertising
As part of a designated broker's supervisory responsibilities, the broker must review
brokerage service contracts involving which licensees? - ANSWER-Licensees with
fewer than two years of experience
At closing, who pays for and receives clear title for the property being purchased? -
ANSWER-Buyer
At the conclusion of a brief hearing in Washington, how are parties informed of the
presiding officer's decision? - ANSWER-A written initial order will be served on both
parties within 10 days of the hearing.
Based on Washington statutory duties, which of the following is considered a material
fact? - ANSWER-Based on a recent city council ruling, the buyer will be unable to use
the property for the intended purpose.
Because proper trust fund handling and record keeping is extremely important, the
________ conducts routine audits of real estate companies. - ANSWER-Washington
State Department of Licensing
Before closing, the ______ should get an appraisal of the property if the transaction's
being financed. - ANSWER-Buyer
Beverly doesn't represent either party to this Yakima real estate transaction. Her role is
limited to handling paperwork. What role is Beverly taking in this transaction? -
ANSWER-A transaction coordinator
Branch managers in Washington can supervise licensees and review their contracts if
these duties are ______ by the designated broker. - ANSWER-Delegated
Brokers must deliver transactional documents and contracts to their managing or
designated broker within how many business days? - ANSWER-Two
, Business is brisk, and Justin's firm is running out of room to store records. Which of
these options isn't allowed by the DOL? - ANSWER-Store records in the firm's out-of-
state storage facility.
Buyer Holly is meeting with broker Norah this afternoon to tour a property in Pasco.
Norah showed her several properties, and Holly told Norah that she wanted
representation in her house hunt. What kind of agency representation will Holly have
with Norah upon signing an agency agreement? - ANSWER-Buyer agency
Can a Washington firm pay its business expenses directly out of a trust account? -
ANSWER-No, they must be paid from a regular business account at the same bank
Candidates for a Washington commission seat must have five years of brokerage
experience, or ______ years of experience in a related investigative position. -
ANSWER-Three
Carla is selling her house in Wenatchee to her sister. Neither party wants to be
represented. They only want some assistance with handling the paperwork. Who should
they consider engaging in this situation? - ANSWER-Transaction coordinator
Carlotta is performing brokerage duties in Washington though she doesn't yet have her
real estate license. What provision in Washington's licensing law permits Carlotta to do
this? - ANSWER-If she's passed her licensing exam and submitted all application
materials, she can work under a temporary license.
Carmine met with a seller and left the meeting with a signed agency agreement. Before
Carmine submitted it to her managing broker, the client called and asked her to cancel
the agreement, so Carmine 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.
Carol passed her Washington licensing exam 14 months ago and hasn't applied for her
license. What happens now, if she still wants to be a broker? - ANSWER-She'll need to
take her exam again and then apply for her license.
Charlie represents Sue, a buyer, in Redmond. Charlie is being paid by Claude, the
seller, through his brokerage. What's true about this situation? - ANSWER-This doesn't
change the agency relationships.
Cheryl Ann received a summary judgment from the DOL because she did not ______
within 20 days of receiving notice of a DOL investigation. - ANSWER-Request a
hearing.
Clint has always had an interest in real estate. He's helped a few friends determine the
asking price for their properties, and now he's considering going into business doing this
kind of work. Does Clint need a real estate license? - ANSWER-Yes, he does.
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