Docsity
Docsity

Prepare for your exams
Prepare for your exams

Study with the several resources on Docsity


Earn points to download
Earn points to download

Earn points by helping other students or get them with a premium plan


Guidelines and tips
Guidelines and tips

Washington Real Estate Agents License Exam: Practice Questions and Answers, Exams of Real Estate Management

A series of multiple-choice questions and answers covering various aspects of the washington real estate agents license exam. it's a valuable resource for individuals preparing for the exam, offering insights into key regulations, procedures, and legal requirements. The questions cover topics such as agency representation, brokerage firm regulations, continuing education requirements, and handling of client funds. This resource helps candidates assess their understanding and identify areas needing further study.

Typology: Exams

2024/2025

Available from 04/23/2025

professionalacademicTutor
professionalacademicTutor šŸ‡ŗšŸ‡ø

3.2

(9)

5.6K documents

1 / 78

Toggle sidebar

This page cannot be seen from the preview

Don't miss anything!

bg1
WASHINGTON REAL ESTATE AGENTS LICENSE EXAM 2025
LATEST ACTUAL QUESTIONS AND CORRECT VERIFIED
ANSWERS ALREADY GRADED A+ GUARANTEE PASS BRAND
NEW
A firm's satellite office at a new condominium does not need a
managing broker on site if it is within how many miles of the
nearest branch office?
A) 20
B) 35
C) 40
D) 50 - CORRECT ANSWER B) 35
Feedback:
Correct: State regulations allow a satellite sales office without a
managing broker present if is within 35 miles of the nearest
branch office.
When a licensee is determined by the state to not be in
compliance of court-ordered child support payments, the
Department of Licensing can:
A) suspend the licensee's license until current
pf3
pf4
pf5
pf8
pf9
pfa
pfd
pfe
pff
pf12
pf13
pf14
pf15
pf16
pf17
pf18
pf19
pf1a
pf1b
pf1c
pf1d
pf1e
pf1f
pf20
pf21
pf22
pf23
pf24
pf25
pf26
pf27
pf28
pf29
pf2a
pf2b
pf2c
pf2d
pf2e
pf2f
pf30
pf31
pf32
pf33
pf34
pf35
pf36
pf37
pf38
pf39
pf3a
pf3b
pf3c
pf3d
pf3e
pf3f
pf40
pf41
pf42
pf43
pf44
pf45
pf46
pf47
pf48
pf49
pf4a
pf4b
pf4c
pf4d
pf4e

Partial preview of the text

Download Washington Real Estate Agents License Exam: Practice Questions and Answers and more Exams Real Estate Management in PDF only on Docsity!

WASHINGTON REAL ESTATE AGENTS LICENSE EXAM 2025 LATEST ACTUAL QUESTIONS AND CORRECT VERIFIED ANSWERS ALREADY GRADED A+ GUARANTEE PASS BRAND NEW A firm's satellite office at a new condominium does not need a managing broker on site if it is within how many miles of the nearest branch office? A) 20 B) 35 C) 40 D) 50 - CORRECT ANSWER B) 35 Feedback: Correct: State regulations allow a satellite sales office without a managing broker present if is within 35 miles of the nearest branch office. When a licensee is determined by the state to not be in compliance of court-ordered child support payments, the Department of Licensing can: A) suspend the licensee's license until current

B) revoke the licensee's license until current C) notify the licensee's firm to withhold commissions D) any of the above - CORRECT ANSWER A) suspend the licensee's license until current Feedback: Correct: Since the state issues a person's license, it has the authority to suspend that license if the licensee is not meeting the court's order of child support. In order for a firm to terminate an affiliate's working relationship, the firm must: A) both parties must concur and submit to the DOL in writing B) either party can act unilaterally to terminate an affiliation C) the designated broker must take action, but only with cause of the affiliate D) the DOL must give permission for termination - CORRECT ANSWER B) either party can act unilaterally to terminate an affiliation Feedback: Incorrect: Either the affiliate or the firm can unilaterally terminate an affiliation and notify the DOL of their desire.

B) release all listing agreements owned by the license C) both are correct D) neither are correct - CORRECT ANSWER A) start termination procedures immediately Feedback: Correct: The listings are owned by the firm and retained by the firm. The designated broker must start the DOL termination procedures immediately. When a brokerage firm is under investigation involving an affiliated licensee, the designated broker for the firm must do all of the following EXCEPT: A) respond to DOL request for records B) allow investigators access to requested records C) respond with a written statement when requested D) respond to a court ordered subpoena even if the firm is not mentioned - CORRECT ANSWER D) respond to a court ordered subpoena even if the firm is not mentioned Feedback:

Correct: Direct requests of the firm/designated managing broker by the DOL must be accomplished. Subpoenas not involving the firm do not require a response. Property management records must be kept: A) at the managed property location B) with the firm's CPA C) at the address where the firm is licensed D) with the property owner's requested location - CORRECT ANSWER C) at the address where the firm is licensed Feedback: Correct: All records for all licensees and firms must be kept at the address specified on the license. When a client complains to the DOL about a serious material fact caused by a licensee, the licensee could be subject to: A) $5,000 fine B) loss of the license C) civil lawsuit of the client D) all the above - CORRECT ANSWER D) all the above

D) all are correct - CORRECT ANSWER A) affiliated licensee Feedback: Correct: A licensee practicing through a firm/designated managing broker is called an affiliated licensee. The old term "associate" is no longer used. The notice to a licensee to appear at a hearing called by the Director of the Department of Licensing requires: A) written notice to the licensee B) 30 days' notice C) both are correct D) neither is correct - CORRECT ANSWER C) both are correct Feedback: Correct: Notification to appear at a hearing with the Director requires it to be in writing and 30 days prior to the hearing date. Which of the following continuing education rules for licensees is correct? A) 90 hours are required for the first renewal

B) 30 hours is required for the second and subsequent renewals C) both are correct D) neither is correct - CORRECT ANSWER C) both are correct Feedback: Correct: The first renewal requires 30 hours of Advanced Practices, 30 hours of Law, and 30 hours of a course of your choosing. The second and subsequent renewals are simply 30 hours. When a licensee begins practicing professional real estate, they are subject to all of the following EXCEPT: A) the supervision of their affiliated firm B) the Washington Administrative Code (WAC) C) the Revised Code of Washington (RCWs) D) the local real estate board - CORRECT ANSWER D) the local real estate board Feedback: Incorrect: All licensees are subject to the rules and regulations of the WAC and RCWs. They are supervised by their

C) offset income D) passive income - CORRECT ANSWER B) active income Feedback: Correct: Since commission amounts vary on a month to month basis, the IRS does not use the term salary. They use the term active income. Offset does not exist. Passive means that you do not pay tax on it right away, but licensees must declare their commissions annually and pay taxes. A managing broker licensed in another state and doing business in Washington as well, must do which of the following? A) keep all his/her records from both states in Washington B) keep all Washington transaction records in Washington C) establish a Washington office D) not hire brokers in the State of Washington - CORRECT ANSWER B) keep all Washington transaction records in Washington Feedback: Correct: All Washington transactional records must be in Washington at the address on their Washington license. They

can hire brokers, but will be responsible for their actions. They can work out at another Washington registered brokerage instead of opening their own office. Which of the following situations would require a person to obtain a real estate license in order to represent the owner? A) selling a business opportunity in a lease location B) selling a mobile home at a mobile home park C) selling a business on its owned land D) all require a license - CORRECT ANSWER C) selling a business on its owned land Feedback: Correct: The key to needing a license is selling land that the business or mobile home is situated on. If the land is leased, no license is required. Which of the following is not a requirement of a broker candidate in obtaining a license? A) age 18 or older B) high school diploma or GED C) pass the State exam

Correct: Mailing in the forms, test results, and fees to the DOL starts a 45 day temporary license prior to receiving the actual license. When does an agency relationship begin under Washington law regarding the purchase of real estate? A) when a licensee meets a customer B) when a licensee gives real estate advice at an open house C) when a licensee begins to provide real estate brokerage services D) when real estate documents are signed by the client - CORRECT ANSWER C) when a licensee begins to provide real estate brokerage services Feedback: Correct: Beginning to provide brokerage services for a client which can be buying or selling of the real estate begins the agency relationship. The licensee must give the pamphlet on agency law at that time. Giving advice to a customer (not a client) is not an agency relationship. Agency law requires brokerage action on behalf of a person/client.

Vern failed to appear at a hearing order by the Director. What is in store for Vern? A) the hearing will begin whether Vern is there or not to defend himself B) Vern's license is immediately suspended C) the hearing is automatically rescheduled D) the Director turns it over to the Attorney General - CORRECT ANSWER A) the hearing will begin whether Vern is there or not to defend himself Feedback: Correct: Hearings commence whether the license appears or not. Suspension and further legal action is not automatic. If a property management firm negotiates each property management agreement with each owner, the contract: A) that is standardized can be altered by a licensee B) must be drawn by an attorney C) must be a state approved standardized contract D) the firm is allowed to draft an agreed contract if both the owner and firm agree in advance - CORRECT ANSWER B) must be drawn by an attorney

A) devise the various real estate examinations B) advise the DOL on possible regulations C) set the license fees D) work with the industry regarding educational needs - CORRECT ANSWER C) set the license fees Feedback: Correct: Fees are set by the DOL. The REC works with the various examinations and their questions. It also helps devise changes in regulating the real estate industry. Continuing education requirements are not necessary to renew a(n): A) inactive license B) broker license C) managing broker license D) designated managing broker license - CORRECT ANSWER A) inactive license Feedback:

Correct: If inactive, the individual does not have to do continuing education to renew their inactive license. Current licensed individuals must do continuing education. Which of the following is not an appropriate place to display the licenses of the affiliated licensees of the firm? A) in the reception area of the firm B) on the wall where the file cabinets are kept C) on the office wall of the designated broker D) in an unmarked book in the reception area - CORRECT ANSWER D) in an unmarked book in the reception area Feedback: Correct: Being tucked away in an unmarked book, no matter where it is, is not an example of displaying licenses in a prominent manner. When collecting a check as earnest money from a buyer, the licensee should make sure it is made out to: A) the licensed real estate firm B) the designated broker C) the bank with the trust account

B) 2 years C) 3 years D) 5 years - CORRECT ANSWER C) 3 years Feedback: Correct: Once an inactive license goes beyond 3 years, the DOL will require a 30 clock hour course to be completed before going active. It is usually the most up-to-date real estate law course. What is the minimum balance amount that a firm's client trust account must meet? A) $ B) $ C) $ D) there is no minimum requirement - CORRECT ANSWER D) there is no minimum requirement Feedback: Correct: There is no minimum amount. Earnest money deposits are required to go here. If a there are no earnest money deposits that are in escrow, the balance could be $0.

Larry is an affiliate of Able Realty in Sunnyside. The main office of the firm is in Yakima. Where does the state require transactional records of Larry to be kept? A) the main office in Yakima B) a sales office in Yakima C) Larry's Sunnyside office D) all these locations - CORRECT ANSWER A) the main office in Yakima Feedback: Correct: Records only have to be kept at the main office on file with the DOL. The key is the address on the license for the firm. In this case the address of the main office in Yakima. Which of the following is incorrect regarding the procedures of the Department of Licensing? A) the Director is appointed by the Governor B) Commissioners are appointed by the Director C) the DOL makes suggested changes to the Washington Administrative Code D) the DOL must meet the requirements of the Revised Code of Washington - CORRECT ANSWER B)