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30 hr WA Real Estate Practice exam (2022/2023) Graded A+

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30 hr WA Real Estate Practice exam (2022/2023) Graded A+ You are recording an accrued expense for your seller client, Sam Bosworth. This represents an item that Sam ____________________. ✔✔Has ... incurred but hasn't paid Because proper trust fund handling and record keeping is extremely important, the ________ conducts routine audits of real estate companies. ✔✔Washington State Department of Licensing Karen would like to sell her own home. What's the minimum real estate license she must possess? ✔✔None 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? ✔✔Transaction coordinator Which designation may you not use in any marketing materials unless you belong to NAR? ✔✔REALTOR What's part of the licensee's role in the closing process? ✔✔Preparing clients for closing Cheryl Ann received a summary judgment from the DOL because she did not ______ within 20 days of receiving notice of a DOL investigation. ✔✔Request a hearing. How are Washington commission members selected? ✔✔Appointed by the governor. In Washington, the buyer usually pays for which of the following title insurance policies? ✔✔Lender's title insurance Amendments to a Washington property management agreement must be ______. ✔✔Written In Washington, a designated broker holds a ______ license. ✔✔Managing broker's Which one of the following entities is responsible for creating Washington real estate laws and statutes? ✔✔The legislature Licensee compensation is funneled through the broker. Who may pay the compensation that goes through the broker? ✔✔A party to the transaction, a third party, or another broker Frank, a Washington broker, wants to open his own real estate firm. Which of the following statements is true? ✔✔Frank must either hire a designated broker or be endorsed as one himself. In Washington, what kind of license is issued to a corporation that performs brokerage services? ✔✔Firm In Washington, which agency is authorized to disseminate and enforce real estate licensing laws? ✔✔Department of Licensing If a Washington real estate firm is closing, the firm's designated broker must provide an affidavit to the Washington DOL within ______ days. ✔✔Five How does Washington define subagency? ✔✔An agent appointed by another agent to assist the principal Charlie represents Sue, a buyer, in Redmond. Charlie is bei [Show More]

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