Washington Real Estate Exam Practice Questions and Answers Already Passed

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Washington Real Estate Exam Practice Questions and Answers Already Passed Candidates for a Washington commission seat must have five years of brokerage experience or ______ years of experience in a... related investigative position. ✔✔Three Rachel, a REALTOR®, is transferring her Washington broker's license to a new firm. She calls all of her clients and asks them to request that they be allowed to terminate their agreements with her old firm and move with her to the new firm. What code or agreement has Rachel violated? ✔✔The REALTOR® Code of Ethics In the real estate business, which professional's primary role is to provide clients with the information they need to make informed decisions about their own specific real estate interests? ✔✔Real estate counselor What is the purpose of Washington's Uniform Regulation of Business and Professions act? ✔✔Consolidate disciplinary procedures for all licensed professions in Washington Which of the following is true of a Washington real estate firm operating as a corporation? ✔✔The corporation must furnish a certified copy of the articles of incorporation to the DOL. In Washington, ______ of the license application, renewal, or reactivation fee is used to support WCRER. ✔✔$10 Even without delegated authority from a designated broker, what is a Washington branch manager authorized to do relative to employed licensees? ✔✔Hire Which of the following can perform services for more than one firm at a time in Washington? ✔✔Designated broker Which of the following statements about a brief adjudicative hearing in Washington is true? ✔✔No witness testimony is accepted. In addition to real estate-specific knowledge, what does the Washington licensing exam test for? ✔✔Adequate knowledge of the English language Service fees on Washington trust accounts may be paid how? ✔✔From a regular business account at the same bank Washington requires property management firms to execute written ______ with owners for whom they provide services. ✔✔Management agreements What level of regulatory authority does the Washington Real Estate Commission have? ✔✔None. The commission provides advice and support to the DOL director. Which of the following assumptions is made unless otherwise stated in the Washington buyer's agency agreement? ✔✔The agreement is non-exclusive 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. ✔✔Two Qualified Washington commission candidates must have at least ______ years of brokerage experience or a certain amount of related experience. ✔✔Five years Through what state agency does the Washington Real Estate Commission directly get its authority? ✔✔The DOL In Washington, how many hours of coursework must an applicant complete before applying for a managing broker's license? ✔✔90 If a third party holds a buyer's earnest money deposit in Washington, who's ultimately responsible for ensuring the delivery of those funds? ✔✔The designated broker When disbursing security deposit funds, a Washington property manager must receive written permission from the ______. ✔✔Tenant How many members serve on the Washington Real Estate Commission? ✔✔Six Which entity creates regulations governing real estate activities in Washington? ✔✔Real Estate Commission 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? ✔✔She'll need to take her exam again, then apply for her license. Which organization provides the Certified Property Manager credential? ✔✔Institute of Real Estate Management On both the Washington buyer's agency and buyer's no-agency agreements, who appoints you as the buyer's broker? ✔✔Your firm 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. ✔✔Five After completing the coursework required for the Washington managing broker's exam, how long does a candidate have to complete the exam? ✔✔Three years In Washington, which of the following tasks require a real estate license? ✔✔Filling in legal forms The Revised Code of Washington that are related to real estate licensing specifically address licensee's responsibilities for providing referrals to what type of third party? ✔✔Home inspection companies Some Washington real estate brokerage records may be kept offsite if they're for transactions that closed how long ago? ✔✔One year or more Where can a licensee find detailed information about a Washington broker's responsibilities? ✔✔Washington Administrative Code What's the earliest that a firm can submit a license renewal application in Washington? ✔✔120 days before expiration After completing the required coursework, a candidate has ______ year(s) to complete the Washington broker's exam. ✔✔Two Currently WCRER is a partnership between the ______ and the University of Washington. ✔✔Department of Licensing Which of the following statements about Washington trust accounts is true? ✔✔Trust funds are to be held in interest-bearing demand deposit accounts, such as checking or savings accounts. 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