Free Washington Real Estate Practice Exam

Q1.A Washington-licensed salesperson posts a series of property listing advertisements on a popular social media platform using only her personal name and a contact phone number. She does not include the name of her sponsoring real estate firm anywhere in the advertisements. Under WAC 308-124E, which of the following most accurately describes the legal consequence of this advertising practice?

• A.This constitutes a violation because all Washington real estate advertising must clearly and conspicuously identify the name of the licensed firm under which the salesperson is licensed.
• B.This is permissible on social media platforms because informal online posts are exempt from Washington's advertising disclosure requirements.
• C.This is permissible as long as the salesperson's Washington real estate license number is included somewhere in the advertisement.
• D.This constitutes a violation only if the properties advertised are listed exclusively by the salesperson's firm, but not for co-listed properties.

Q2.Under RCW 18.85 and WAC 308-124B, which of the following actions by a Washington real estate salesperson would constitute grounds for license suspension or revocation by the Washington State Department of Licensing?

• A.Failing to personally answer a buyer's question but referring them to the designated broker
• B.Advertising a listed property under the salesperson's name without prominently displaying the designated broker's name
• C.Representing both a buyer and seller in the same transaction with written consent from both parties
• D.Accepting a commission directly from a cooperating broker with the designated broker's written approval

Q3.Under Washington law, when a real estate firm receives earnest money from a buyer, by when must the funds be deposited into the firm's trust account?

• A.Within 1 business day of receipt by the firm
• B.Within 2 business days of receipt by the firm
• C.Within 3 business days of receipt by the firm
• D.Within 5 business days of mutual acceptance of the purchase and sale agreement

Q4.A PM firm receives an undisputed rent payment on Monday, and no banking holiday intervenes. What rule controls the deposit timing?

• A.Deposit within three banking days after receipt
• B.Deposit by the end of the calendar month
• C.Deposit only after the owner statement is approved
• D.Deposit within ten business days

Q5.Under RCW 18.86, when must a Washington real estate licensee first provide the pamphlet on the law of real estate agency to a prospective buyer customer?

• A.At the time the buyer signs a purchase and sale agreement
• B.No later than the first time the licensee provides specific assistance to the buyer
• C.Before the first scheduled showing of any property
• D.When the buyer submits a written offer to purchase

Q6.Under WAC 308-124, a Washington real estate broker applicant who has completed the required pre-license education must submit their license application within what timeframe after passing the state examination, or risk having their examination results expire?

• A.30 days from the date the examination was passed
• B.60 days from the date the examination was passed
• C.One year from the date the examination was passed
• D.Two years from the date the examination was passed

Q7.Under the Real Estate Settlement Procedures Act (RESPA), when must a lender provide the Loan Estimate to a mortgage loan applicant?

• A.Within 7 business days of loan application
• B.At least 3 days before closing
• C.Within 24 hours of loan application
• D.Within 3 business days of loan application

Q8.Under the Truth in Lending Act (TILA), what term describes the cost of credit expressed as a yearly rate?

• A.Annual Percentage Rate (APR)
• B.Prime Rate
• C.Discount Rate
• D.Nominal Interest Rate

Q9.Under Washington law, when must a real estate licensee deposit earnest money received from a buyer into the firm's trust account?

• A.Within 24 hours of receipt
• B.By the end of the next banking day following receipt
• C.Within three business days of receipt
• D.At or before closing of the transaction

Q10.Aisha is a dual agent representing both buyer and seller with written consent from both. Which of the following is she still permitted to do?

• A.Negotiate aggressively on behalf of the buyer to get the lowest possible price
• B.Provide factual information about the property to both parties and facilitate the transaction
• C.Disclose the seller's minimum acceptable price to help the buyer make a strong offer
• D.Share the buyer's maximum price with the seller to help them counter effectively

Q11.Monthly rent is $1,600. What is the maximum security, including prepaid rent, that a landlord may demand under A.R.S. § 33-1321?

• A.$1,600
• B.$2,000
• C.$2,400
• D.$3,200

Q12.Which federal law requires that lenders provide borrowers with a copy of any appraisal conducted in connection with a mortgage loan application?

• A.The Real Estate Settlement Procedures Act (RESPA)
• B.The Equal Credit Opportunity Act (ECOA)
• C.The Truth in Lending Act (TILA)
• D.The Home Valuation Code of Conduct (HVCC)

Q13.A buyer's agent who notices cracks in the foundation during a showing should:

• A.Disclose the visible cracks to the buyer immediately as potentially material
• B.Note it privately and wait for the home inspection report
• C.Ask the seller's agent if the seller has disclosed foundation issues
• D.Take photos for the file but make no representation about what they mean

Q14.A city council passes a law that effectively prevents a landowner from making any economically beneficial use of their property without physically taking it. Under constitutional law, this situation is most commonly referred to as a:

• A.Condemnation proceeding
• B.Regulatory taking
• C.Voluntary conveyance
• D.Prescriptive easement

Q15.Under § 32-2175, how long must a property manager generally keep residential rental agreements after they expire, unless the documents are given to the owner under the statutory alternative?

• A.At least one year
• B.Exactly 30 days
• C.At least ten years
• D.No retention is required