Free Washington Real Estate Practice Exam

Q1.Under RESPA, which service provider relationship must be disclosed to borrowers when a real estate agent refers clients?

• A.Any business relationship where the agent receives compensation or has an ownership interest
• B.Only relationships where the agent owns more than 50% of the service provider
• C.Relationships established within the past 12 months only
• D.Only relationships involving mortgage lenders, not other settlement service providers

Q2.In Washington, what is required for a designated broker to delegate supervisory responsibilities to a managing broker?

• A.The managing broker must have at least 3 years of experience
• B.Written delegation agreement and Commission notification
• C.Only verbal agreement is necessary
• D.No formal requirements exist

Q3.A property is discovered to have underground storage tanks that leaked petroleum products. Which federal law primarily governs the cleanup and liability for this environmental contamination?

• A.Clean Water Act
• B.CERCLA (Superfund)
• C.Resource Conservation and Recovery Act
• D.Toxic Substances Control Act

Q4.In Washington State, if a property owner dies intestate (without a will) and is survived by a spouse and two children, how is the separate property distributed?

• A.Entirely to the surviving spouse
• B.One-half to spouse, one-fourth to each child
• C.One-third to spouse, one-third to each child
• D.Two-thirds to spouse, one-sixth to each child

Q5.Under RESPA guidelines, if a borrower's loan amount is $240,000 and they pay 2 points, how much do they pay in points?

• A.$2,400
• B.$4,800
• C.$24,000
• D.$48,000

Q6.A licensed salesperson in Washington discovers that their designated broker has been commingling client trust funds with business operating funds. What is the salesperson's obligation under state law?

• A.Continue working normally as it's the broker's responsibility
• B.Immediately report the violation to the Department of Licensing
• C.Confront the broker privately and demand correction
• D.Transfer to a different brokerage within 30 days

Q7.A married couple in Washington purchases a home using only the wife's separate property funds, but both spouses sign the deed as grantees. How will this property be characterized under Washington community property law?

• A.The property is the wife's separate property because she provided all funds
• B.The property is community property because both spouses are on the deed
• C.The property is presumed to be community property, but the wife may have a claim for reimbursement
• D.The property is held as joint tenants with right of survivorship

Q8.A developer purchases a 640-acre section of land and wants to create a subdivision with 160 lots, each being 1/4 acre. After setting aside 20% of the total land for roads, utilities, and common areas, will there be sufficient land remaining for the proposed lots?

• A.Yes, there will be 32 acres remaining after creating the lots
• B.No, there will be a shortage of 24 acres
• C.Yes, there will be exactly enough land with no remainder
• D.No, there will be a shortage of 8 acres

Q9.According to Washington law, which of the following statements about homestead exemptions is correct?

• A.The homestead exemption automatically protects up to $125,000 in home equity
• B.A homestead declaration must be filed with the county recorder to claim the exemption
• C.The homestead exemption only applies to properties under $200,000 in value
• D.Joint tenants cannot claim homestead exemptions

Q10.According to Washington Real Estate License Law, what is the minimum frequency required for reconciling trust account records?

• A.Weekly
• B.Monthly
• C.Quarterly
• D.Annually

Q11.Under the Equal Credit Opportunity Act (ECOA), which of the following actions by a lender would be prohibited?

• A.Requiring verification of income from all applicants
• B.Asking about an applicant's marital status when applying for an individual unsecured loan
• C.Requesting proof of employment history
• D.Requiring a down payment for the loan

Q12.Under Washington state law, what is the minimum agency relationship that must be established before a real estate licensee can show property to a prospective buyer?

• A.Buyer agency
• B.Dual agency
• C.No agency relationship required
• D.Limited dual agency

Q13.Under Washington State's Form 22A Purchase and Sale Agreement, earnest money is typically held by whom?

• A.The listing broker only
• B.The selling broker only
• C.The designated broker or closing agent
• D.The seller directly

Q14.How many hours of approved real estate education must be completed to qualify for a Washington salesperson license?

• A.60 hours
• B.90 hours
• C.120 hours
• D.180 hours

Q15.When must the EPA's lead-based paint disclosure pamphlet 'Protect Your Family From Lead in Your Home' be provided to buyers?

• A.At the time of listing
• B.Before signing the purchase contract
• C.Within 10 days of contract signing
• D.At closing