Washington Real Estate Exam Practice Questions - State Flashcards

Washington Real Estate Exam Practice Questions - State Flashcards The REALTOR® Code of EthicsRachel, 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?Real Estate CommissionWhich entity creates regulations governing real estate activities in Washington?Trust funds are to be held in interest-bearing demand deposit accounts, such as checking or savings accounts.Which of the following statements about Washington trust accounts is true?The agreement is non-exclusiveWhich of the following assumptions is made unless otherwise stated in the Washington buyer's agency agreement?FiveIf 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.She'll need to take her exam again, then apply for her license.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?Adequate knowledge of the English language In addition to real estate-specific knowledge, what does the Washington licensing exam test for?120 days before expirationWhat's the earliest that a firm can submit a license renewal application in Washington?Your firmOn both the Washington buyer's agency and buyer's no-agency agreements, who appoints you as the buyer's broker?One year or moreSome Washington real estate brokerage records may be kept offsite if they're for transactions that closed how long ago?The designated brokerIf a third party holds a buyer's earnest money deposit in Washington, who's ultimately responsible for ensuring the delivery of those funds?Filling in legal formsIn Washington, which of the following tasks require a real estate license?90In Washington, how many hours of coursework must an applicant complete before applying for a managing broker's license?SixHow many members serve on the Washington Real Estate Commission?None. The commission provides advice and support to the DOL director.What level of regulatory authority does the Washington Real Estate Commission have?

The DOLThrough what state agency does the Washington Real Estate Commission directly get its authority?Three yearsAfter completing the coursework required for the Washington managing broker's exam, how long does a candidate have to complete the exam?Institute of Real Estate ManagementWhich organization provides the Certified Property Manager credential?Washington Administrative CodeWhere can a licensee find detailed information about a Washington broker's responsibilities?Five yearsQualified Washington commission candidates must have at least ______ years of brokerage experience or a certain amount of related experience.The corporation must furnish a certified copy of the articles of incorporation to the DOL.Which of the following is true of a Washington real estate firm operating as a corporation?$10In Washington, ______ of the license application, renewal, or reactivation fee is used to support WCRER.Management agreementsWashington requires property management firms to execute written ______ with owners for whom they provide services.No witness testimony is accepted.Which of the following statements about a brief adjudicative hearing in Washington is true?From a regular business account at the same bank Service fees on Washington trust accounts may be paid how?TenantWhen disbursing security deposit funds, a Washington property manager must receive written permission from the

______.

TwoIn 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.HireEven without delegated authority from a designated broker, what is a Washington branch manager authorized to do relative to employed licensees?Designated brokerWhich of the following can perform services for more than one firm at a time in Washington?Home inspection companiesThe 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?TwoAfter completing the required coursework, a candidate has ______ year(s) to complete the Washington broker's exam.ThreeCandidates for a Washington commission seat must have five years of brokerage experience or ______ years of experience in a related investigative position.

Real estate counselorIn 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?Consolidate disciplinary procedures for all licensed professions in Washington What is the purpose of Washington's Uniform Regulation of Business and Professions act?Department of LicensingCurrently WCRER is a partnership between the ______ and the University of Washington.