Washington Real Estate Exam
1,501+ Practice Questions & Answers
Every question includes a detailed explanation. Organized by the 12 topics on the Washington real estate salesperson exam.
Real Estate Math
180 questions- A Washington home sells for $650,000. The seller pays Washington's Real Estate Excise Tax (REET) of 1.28% on the first $500,000 and 2.75% on the amount above $500,000. What is the total REET?
- A Washington broker lists a home for $580,000 and earns a 5.5% commission. How much commission is earned?
- A buyer in Washington purchases a home for $480,000 with a 15% down payment. What is the loan amount?
- A Washington rental property has a monthly gross rent of $3,200 and annual operating expenses of $14,400. What is the annual net operating income (NOI)?
- A Washington commercial building has an annual gross income of $240,000, vacancy and credit loss of 8%, and operating expenses of $85,000. What is the NOI?
- A Washington property tax bill is $6,500 per year. The annual taxes are prorated at closing, and the seller has already paid the full year. The buyer closes on August 1. How much does the escrow company credit the seller?
- A Washington broker earns a 6% commission on a $425,000 sale and splits 45% to the buyer's broker. How much does the listing broker retain?
- A Seattle investment property is purchased for $1,200,000 with 25% down. What is the equity at purchase?
- A Washington property appreciated 5% per year for 3 years from an original value of $400,000. What is the value after 3 years?
- A Washington rental property has a cap rate of 6% and a value of $800,000. What is the annual NOI?
- A Washington buyer pays $522,500 for a home. The county assesses the property at 90% of purchase price for tax purposes. The millage rate is 12 mills. What is the annual property tax?
- A Washington listing agreement requires the seller to pay 5.5% commission. The home sells for $610,000. What is the commission amount?
- A Washington property manager charges 8% of gross monthly rents collected. The property generates $12,500/month. What is the annual management fee?
- A Washington investor buys a duplex for $480,000. Each unit rents for $1,800/month. What is the annual gross rent multiplier (GRM)?
- A Washington property sells for $875,000. Using REET's tiered rates: 1.10% on the first $500,000 and 2.75% on the portion above $500,000. What is the total REET?
- A Washington property was purchased for $320,000 and sold 5 years later for $420,000. What is the percentage appreciation?
- A Washington investor wants a 9% return on a $600,000 investment. What annual NOI is required?
- A Washington home sells for $540,000 with 5% commission split 50/50. Each broker receives:
- A Washington buyer qualifies for a maximum monthly payment (PITI) of $3,200. Annual taxes are $4,800 and annual insurance is $1,200. What is the maximum monthly P&I payment?
- A Washington property has a lot of 150 feet × 200 feet. What is the acreage? (1 acre = 43,560 sq ft)
- A Washington broker earns a graduated commission: 4% on the first $300,000 and 6% on the balance. The property sells for $550,000. What is the total commission?
- A Washington building has 8 units, each renting for $1,400/month. The vacancy rate is 10%. What is the effective gross income (EGI) per year?
- A Washington duplex costs $390,000. Each unit rents for $1,600/month. What is the monthly GRM?
- A Washington homeowner wants to net $500,000 after paying a 5.5% commission. What must the home sell for?
- A Washington commercial property is leased at $22 per square foot per year. The space is 3,500 square feet. What is the annual rent?
- A Washington homeowner has a $350,000 loan at 6.5% interest only for the first year. What is the monthly interest payment?
- A Washington lot is 80 feet wide and 125 feet deep. It has a building setback requirement of 25 feet front, 10 feet rear, and 5 feet each side. What is the maximum buildable area?
- A Washington property has an assessed value of $480,000 and a tax rate of $9.75 per $1,000 of assessed value. What is the annual property tax?
- A buyer in Washington puts 10% down on a $475,000 home and pays 0.5% monthly PMI on the loan balance. What is the first month's PMI?
- A Washington investor purchases a property for $650,000, makes $75,000 in improvements, and sells for $850,000. What is the total profit (before tax)?
- A Washington broker's listing agreement states they earn 3% of the first $400,000 and 2% of the balance. The home sells for $720,000. What is the commission?
- A Washington renter pays $1,750/month. Annual rent increases 3%. What will the monthly rent be after 2 years?
- A Washington broker received a 6% commission on a sale and split it 60% listing / 40% selling. The listing broker retained $21,600. What was the sale price?
- A Washington income property has a NOI of $55,000 and the investor requires a 7% cap rate. What is the maximum the investor should pay?
- A Washington property sold for $562,000 and the buyer obtained an 80% loan. The lender charges 1.5 origination points. What is the origination fee?
- A Washington investor buys a 4-unit apartment building for $800,000. Total annual rent is $76,800. Expenses are 40% of gross rent. What is the cap rate?
- A Washington seller owes $325,000 on their mortgage and pays 5.5% commission on a $485,000 sale. Net proceeds to the seller (ignoring other closing costs) are:
- A Washington listing has an annual property tax of $7,200 and a homeowner's insurance premium of $1,800/year. A buyer's monthly escrow payment for taxes and insurance alone is:
- A Washington broker takes a listing at $589,000. After 45 days, the seller agrees to reduce the price by 3.5%. What is the new listing price?
- A Washington property manager collects $156,000 in annual rents and charges a 9% management fee. Annual fee = ?
- A Washington apartment building generates $18,000/month gross rent. Vacancy is 5% and operating expenses are 45% of effective gross income. What is the annual NOI?
- A Washington buyer agrees to pay $525,000 for a home and puts down $52,500. The lender charges a 1% origination fee. What is the origination fee?
- A Washington investment property has a potential gross income of $96,000/year, a 7% vacancy rate, and fixed operating expenses of $28,000. What is the NOI?
- A Washington property's tax bill is $8,400/year. At closing on April 1, taxes are paid in arrears (seller owes Jan 1–Mar 31). How much does the seller owe at closing?
- A Seattle office building has 20,000 rentable square feet leased at $30/SF/year. What is the annual gross rent income?
- A Washington home was purchased for $400,000 five years ago. It is now worth $530,000. What is the total return on the original purchase price?
- A Washington property management company earns 8% of collected rents. In January, they collected $48,000. What is January's management fee?
- A Washington seller nets $412,000 after a 5.5% broker commission. What was the sale price?
- A Washington investor borrows $600,000 at 6% annually on an interest-only loan for 3 years. What are total interest payments over 3 years?
- A Washington home's list price is $749,900 and it sells for $735,000. What is the sale-to-list price ratio?
- A Washington property's annual insurance premium is $2,400 and property taxes are $5,760. At closing on June 1, the seller's insurance is paid through December 31. How much is credited to the seller for insurance?
- A Washington seller agreed to pay $8,000 in buyer's closing costs. The home sells for $495,000 with 5% commission. The seller's net proceeds (ignoring other costs) are:
- A Washington commercial space is 4,200 SF at $18.50/SF/year. What is the monthly rent?
- A Washington buyer puts 5% down on a $410,000 home. The lender charges 0.8% monthly PMI on the loan. What is the monthly PMI amount?
- A Washington home was listed for 90 days before selling. The commission rate was 5.5% and the sale price was $598,000. Commissions paid were:
- A Washington property has a list price of $675,000. After 60 days, the price is reduced by 4%. After another 30 days, it is reduced by an additional 3%. What is the final asking price?
- A Washington buyer's monthly gross income is $9,500 and they have a car payment of $450/month. The lender applies a 43% DTI limit. What is the maximum allowable monthly housing payment (PITI)?
- A Washington investor gets a 6% cap rate on a $925,000 property. Annual NOI is:
- A Washington buyer closes on March 15. Annual property taxes are $6,000 (paid in arrears). The seller owes taxes from January 1 to March 15 (73 days). Tax owed by seller:
- A Washington broker's split is 60% to the listing side and 40% to the selling side. The selling broker then pays her agent 50% of the selling-side share. The listing sells for $580,000 at 5.5% total commission. What does the selling agent receive?
- A Washington building has an annual NOI of $180,000. The investor uses a 7.5% cap rate. What is the value?
- A Seattle commercial lease has a base rent of $35/SF/year and annual CPI escalations. If the CPI is 3.2% in year 2, what is the year 2 rent per SF?
- A Washington property is sold for $755,000. The seller owes $425,000 on the mortgage. The broker's commission is 5.75%. What are the seller's net proceeds (before other costs)?
- A Washington investor has a $1,500,000 commercial building with annual NOI of $97,500. What is the cap rate?
- A Washington home's square footage is calculated at 1,850 SF and the cost to build new is $215/SF. What is the replacement cost of the improvements?
- A Washington home appraiser uses a comparable that sold for $510,000. The comparable has a view worth $15,000 that the subject does not have. The adjusted comparable value is:
- A Washington property sold for $620,000 with 5% commission. The listing broker and selling broker split the commission 50/50. The listing agent gets 70% of the listing broker's share. What does the listing agent receive?
- A Washington property's gross rent multiplier (GRM) is 140 based on monthly rents. The property generates $3,800/month in rent. What is the indicated value?
- A Washington buyer's closing costs are 3% of the purchase price. The home costs $490,000 with 10% down. What are the approximate closing costs?
- A Washington seller closes on September 15. Annual property taxes are $9,600, paid in arrears. How much does the seller owe at closing for the period Jan 1–Sep 15? (257 days)
- A Washington seller paid $340,000 for land and built improvements costing $180,000. They sell the property for $620,000. What is the profit?
- A Washington buyer qualifies for a maximum monthly mortgage payment of $2,600 PITI. Taxes = $350/month, Insurance = $120/month. What maximum loan amount might the buyer qualify for if the P&I factor is $6.65 per $1,000 at 7%?
- A Washington property manager collects 11 of 12 units' rent in a month. Vacancy rate this month is approximately:
- A Washington broker lists a property for $699,000 and it sells after 2 price reductions of 2% each. What is the final sale price?
- A Washington investor earns $45,000 NOI on a $600,000 investment. What is the cash-on-cash return if they put $150,000 down and the annual debt service is $28,000?
- A Washington property's replacement cost is $380,000. It has a total economic life of 40 years and an actual age of 8 years. Using straight-line depreciation, what is the depreciated value?
- A Washington homeowner has a $520,000 home with a $310,000 mortgage. Their equity is:
- A Washington commercial tenant pays $20/SF/year base rent on 2,800 SF, plus 40% of $50,000 in CAM charges. What is the annual rent and CAM combined?
- A Washington buyer's offer of $465,000 is 93% of the asking price. What was the asking price?
- A Washington seller received an offer at 96.5% of the $725,000 asking price. What is the offer amount?
- A Washington home's annual taxes are $7,500. The closing date is June 15. Taxes are collected in two installments: April 30 and October 31. The seller paid the first half ($3,750) in April. At closing, the seller owes taxes from May 1 to June 15 (46 days). How much?
- A Washington investor buys a $900,000 property with 30% down. The LTV ratio is:
- A Washington listing sold for $830,000 in 45 days. The home was listed at $875,000. What was the price reduction percentage?
- A Washington property produces a monthly net income of $4,200. The investor paid $640,000. What is the annual cap rate?
- A Washington property manager charges a lease-up fee of 50% of the first month's rent for new tenants. A new tenant signs at $1,900/month. The lease-up fee is:
- A Washington duplex is purchased for $570,000 with 20% down. The annual interest rate is 6.75%. Monthly interest-only payment is:
- A Washington appraisal uses the cost approach. Land is worth $95,000. Building replacement cost is $340,000. Total physical depreciation is 15%. What is the total property value?
- A Washington commercial property has $600,000 gross income, 10% vacancy, and a 48% expense ratio applied to effective gross income. What is the NOI?
- A Washington buyer has a gross monthly income of $11,000. Maximum allowed housing ratio is 28% and total DTI is 43%. They have $800/month in other debt. What is the maximum PITI?
- A Washington apartment has 24 units all renting at $1,600/month. NOI is $268,800/year. What is the expense ratio as a percentage of potential gross income?
- A Washington buyer makes a $25,000 earnest money deposit on a $500,000 purchase. What percentage is the earnest money of the purchase price?
- A Washington homeowner's property has an assessed value of $520,000 and receives a senior exemption that reduces the taxable value by $60,000. At a mill rate of 10 mills, what is the annual tax?
- A Washington investor wants to buy a retail strip mall that generates $480,000 NOI. The cap rate for comparable properties is 6.5%. What is the indicated value?
- A Washington home is listed for $799,000. After two weeks, the seller accepts an offer at $785,000. The broker earns 5.5% commission. What is the commission on the final sale price?
- A Washington borrower has a $325,000 balance on their mortgage. The property appraised for $500,000. What is the current LTV ratio?
- A Washington property management contract specifies: 8% of gross collected rents plus $500 for each new lease. In one month, the manager collected $28,000 in rents and signed 3 new leases. Total fee for the month:
- A Washington commercial tenant has a 5-year lease at $4,200/month for the first 2 years, then $4,600/month for years 3–5. What is the total rent over the full lease term?
- A Washington property sells for $635,000 with a 6% total commission. The listing broker takes 3.5% and the co-op broker takes 2.5%. What does the listing broker earn?
- A Washington property's annual NOI is $62,400. A comparable property with the same NOI just sold at a 7.8% cap rate. What is the indicated value of the subject property?
- A Washington homeowner borrows $50,000 in a second mortgage at 8% annual interest only. Monthly payment is:
- A Washington 6-unit apartment has 5 units occupied at $1,500/month and 1 vacant. Monthly rent loss from vacancy is:
- A Washington seller agreed to pay 3% of the purchase price toward buyer's closing costs. The home sells for $520,000. How much are the seller's concessions?
- A Washington property is valued at $780,000. The assessed value is 95% of market value. At a tax rate of $11.50 per $1,000 assessed value, what is the annual tax?
- A Washington commercial building leases at $28/SF/year on 4,500 SF with a 5% annual rent increase. What is the rent at the start of year 3?
- A Washington buyer is purchasing a triplex for $625,000 with 25% down. The closing costs are 2.5% of the purchase price. What are the total funds needed to close?
- A Washington property manager charges 7.5% of gross collected rents on a property that produces $168,000 per year. Annual management fee:
- A Washington commercial lease provides for annual rent increases equal to the greater of 2% or CPI. CPI for the year was 1.5%. If the base rent was $6,000/month, what is the new monthly rent?
- A Washington homeowner has an 80% LTV loan of $440,000. What is the home's value?
- A Washington property manager collects rents for 12 months totaling $186,000. The management fee is 8%. Annual fees earned are:
- A Washington property owner sells land for $280,000 on an installment sale. 30% is down and the balance is financed at 6% for 10 years. What is the initial down payment?
- A Washington appraisal comparable sold for $485,000. It is located on a busy street which penalizes value by $18,000 compared to the subject's quiet street location. The adjusted comparable value is:
- A Washington investor purchases a property for $1,100,000 with 35% down and finances the rest at 6% interest-only. Annual interest payment is:
- A Washington seller lists a home at $659,000. After 3 weeks, an offer comes in at $640,000. The broker's commission is 5.4%. What commission does the broker earn on the accepted offer?
- A Washington property has an effective gross income of $210,000 and an expense ratio of 40%. What is the NOI?
- A Washington property's asking price is $895,000. An offer comes in at $865,000. If the buyer offers $9,000 in earnest money, what percentage of the offer price is the earnest money?
- A Washington home with 2,400 SF sells for $696,000. Price per square foot is:
- A Washington investment property is purchased for $875,000 with NOI of $61,250. The cap rate is:
- A Washington property manager charges 10% of collected rents on a 20-unit building at $1,350/month per unit, with 95% occupancy. Annual management fee:
- A Washington home appraiser determines a GLA adjustment of $120/SF. A comparable has 1,950 SF and the subject has 1,780 SF. The GLA adjustment applied to the comparable is:
- A Washington seller's annual property taxes are $9,120 and the closing occurs on October 1. Taxes are paid in arrears. Seller owes for Jan 1 to Oct 1 (273 days). Using the 365-day method:
- A Bellevue office building produces $1.2M in EGI. The expense ratio is 35%. At a 6% cap rate, the building is worth:
- A Washington property sold for $742,000. Using Washington's REET tiers (1.10% on first $500,000; 1.28% on $500K-$1.5M), what is the REET?
- A Washington broker lists a property. After 45 days, the seller lowers the price by 2.5% from $825,000. The new list price is:
- A Washington tenant pays $2,100/month in rent. Landlord requires a security deposit equal to 1.5 months' rent and first and last month's rent. Total amount due at move-in:
- A Washington buyer qualifies for a 30-year loan at 7.25%. The payment factor per $1,000 is $6.82. The maximum loan amount if the maximum monthly P&I is $2,250 is approximately:
- A Washington commercial lease has a base rent of $15.50/SF/year. With an expense stop of $8/SF, the tenant pays operating expenses above the stop. If actual expenses are $11.50/SF, how much does the tenant pay in total per SF per year?
- A Washington listing sold at $745,000. The broker's 5.5% commission was split 55% listing, 45% co-op. The co-op broker earned:
- A Washington home's NOI is $38,400. The seller wants a price that reflects an 8% cap rate. What should the asking price be?
- A Washington building has 15 units at $1,200/month and 5 units at $1,450/month. Annual vacancy rate is 6%. What is the effective gross income?
- A Washington seller is asked to contribute $12,000 toward buyer's closing costs on a $498,000 sale. The net to the seller (before mortgage payoff) after 5.5% commission and this concession is:
- A Washington investor can invest $300,000 and earn 8% annual return. If they invest in a property, they need NOI of at least:
- A Washington commercial space of 3,200 SF is leased at $24/SF/year with a 3% annual CPI escalator. Year 2 rent per SF is:
- A Washington investor purchases a $1,050,000 property with 30% down. Annual NOI is $67,200. The cap rate is:
- A Washington home was listed at $785,000 and sold for $772,000 after 28 days. If the listing broker received 3% of the sale price and the buyer's broker received 2.5%, what are the total commissions paid?
- A Washington home is assessed at $412,000 with a tax rate of 0.98% of assessed value. Annual property tax is:
- A Washington property is listed for $1,195,000. An offer comes in 4.8% below list. The offer is:
- A Tacoma property sells for $485,000. Washington's REET applies the first tier rate of 1.1% to the first $525,000. What is the REET owed?
- A property has a NOI of $72,000 and sells at a cap rate of 8%. What is the value?
- A buyer's monthly PITI payment is $2,400. The lender's maximum front-end DTI ratio is 28%. What is the minimum gross monthly income required?
- A buyer makes an offer of $375,000 on a Seattle condo. The seller counters at $389,000. They agree to split the difference. What is the final sales price?
- A property sells for $520,000. The commission rate is 5.5%. The listing broker and selling broker split the commission equally. How much does each broker receive?
- A buyer finances $400,000 at 6.5% interest for 30 years. The monthly payment factor for a 6.5% 30-year loan is approximately $6.32 per $1,000. What is the approximate monthly P&I payment?
- A buyer purchases a property for $350,000 with a 10% down payment. Two years later, the property is worth $420,000. What is the percentage increase in value?
- A property manager charges a 9% management fee on collected rents. The property generates $4,500/month in rents with a 5% vacancy rate. What is the management fee per month?
- A 6-unit building in Olympia has a gross income of $96,000/year. Operating expenses are $38,400. The property sells at a 7.5% cap rate. What is the sale price?
- A lender requires a minimum LTV of 75% for a commercial loan. The property appraises at $800,000. What is the maximum loan amount?
- A property is purchased for $600,000 with 25% down. The buyer obtained a 30-year loan at 7% with a monthly P&I factor of $6.65 per $1,000. What is the monthly P&I payment?
- A property manager collected $18,500 in rents last month. Operating expenses were $7,400. The property manager's fee is 8% of gross collected rents. What is the net income to the property owner?
- A Seattle property owner's assessed value is $750,000. The tax rate is $12.50 per $1,000 of assessed value. What are the annual property taxes?
- An investor purchases a duplex for $420,000. Each unit rents for $1,600/month. Annual operating expenses are $14,400. What is the annual cash-on-cash return if the investor put 30% down and the annual debt service is $20,640?
- A buyer takes a $360,000 loan at 5.5% for 30 years. The loan balance after 5 years is $332,000. The property has appreciated to $450,000. What is the buyer's equity?
- A property manager is paid a 10% leasing commission on the first year's rent for a new commercial lease. The 5-year lease has a base rent of $4,500/month in year 1, with 3% annual increases. What is the leasing commission?
- A 2,400 sq ft home in Renton sells at $195/sq ft. The real estate commission is 5%. What are the total dollar commissions?
- A Washington investor receives a monthly net income of $4,200 from a rental property purchased for $630,000. What is the annual capitalization rate (cap rate) for this investment?
- A property has an assessed value of $560,000 and a market value of $640,000. The assessment ratio is:
- A buyer makes a $400,000 offer at 20% down. The buyer's loan is at 6.75%, 30 years. Using a factor of $6.49 per $1,000, what is the monthly P&I payment?
- An investor buys a 4-unit building for $580,000. Two units rent at $1,300/month and two units at $1,450/month. Annual vacancy is 5% and operating expenses are $22,000/year. What is the NOI?
- A Washington homeowner refinances a $380,000 mortgage to a new $400,000 mortgage (cash-out refi). The new loan has a monthly P&I factor of $6.65/$1,000 at 7% for 30 years. What is the new monthly P&I payment?
- A real estate agent sells a property for $525,000, earning a 3% commission. The agent's broker receives 30% of the commission split. How much does the agent net?
- A commercial tenant in Bellevue has a 2,500 sq ft office with a monthly rent of $4.25 per square foot plus CAM charges of $0.85/sq ft/month. What is the tenant's total monthly rent obligation?
- A Washington property is purchased for $475,000. The buyer makes a 15% down payment. What is the LTV ratio, and does PMI apply?
- A Bellevue commercial property generates a monthly NOI of $18,500. An investor requires a 7% annual return. What is the maximum price the investor should pay?
- A property was purchased for $320,000 five years ago. It has appreciated at 4% annually. What is the current estimated value? (Compound appreciation)
- A house is listed at $499,000. After 45 days, the seller agrees to reduce the price by 3%. What is the new listing price?
- A property manager's annual operating budget shows: gross rents $128,400; vacancy at 8%; management fee 10% of EGI; other operating expenses $26,000. What is the NOI?
- An investor wants a 9% return on a $1,200,000 investment in a commercial property. What is the minimum annual NOI required?
- A seller accepts a net listing from a broker. The seller wants to net $380,000 after paying a 5% commission. What must the property sell for?
- A property has a gross income of $180,000 per year. The GRM for similar properties is 10.5. What is the estimated property value using the GRM?
- A buyer makes a $25,000 earnest money deposit on a $625,000 purchase. What percentage of the purchase price does the earnest money represent?
- An investment property has a cash flow of $36,000/year. The investor paid $480,000 cash for the property. What is the annual cash-on-cash return?
- An appraisal of a Redmond office building shows: replacement cost $3,800,000; land value $800,000; accrued depreciation $950,000. What is the indicated value using the cost approach?
- A Washington homeowner's mortgage balance is $285,000. The current appraised value is $380,000. What is the homeowner's equity percentage?
- A Washington broker lists a home at $540,000. After 3 price reductions of $10,000 each, what is the final listing price?
- A property in Seattle was purchased for $750,000. After 10 years, it is sold for $1,100,000. What is the total appreciation and the percentage gain?
- A 20-unit apartment building in Tacoma has a gross potential income of $276,000/year. Vacancy is 6%, and operating expenses are $85,000. The owner wants a 7% cap rate. What would the property be worth?
- A buyer purchases a home at a 4% interest rate when the market rate is 6%. The seller carried back financing at the below-market rate. If the $350,000 seller-financed loan had been at 6%, the monthly P&I payment factor is $6.00/$1,000 vs $4.77/$1,000 at 4%. What is the monthly savings?
- An investor wants to determine the break-even occupancy rate for a property. Annual debt service is $48,000, operating expenses are $24,000, and gross potential income is $96,000. What is the break-even occupancy rate?
- A Washington property is bought for $265,000 and sold for $310,000 two years later. After paying a 5.5% commission and $3,200 in other closing costs, what is the net profit?
- A Washington property has a potential gross income of $150,000, vacancy of 7%, and operating expenses of 42% of EGI. What is the NOI?
- A Washington seller agrees to pay a 6% commission on a $575,000 sale. The listing broker and buyer's broker split the commission equally, and each broker splits with their agent at 60/40 in favor of the agent. How much does the buyer's agent receive?
Washington License Law
139 questions- Which state agency regulates real estate licenses in Washington State?
- How many hours of pre-license education are required for a Washington real estate broker applicant?
- What is the passing score required on the Washington State real estate broker licensing examination?
- How many questions are on the Washington State broker licensing examination?
- In Washington State, a newly licensed real estate broker must affiliate with:
- Washington State real estate broker licenses must be renewed every:
- To upgrade from a broker license to a managing broker license in Washington, a licensee must have at least:
- Washington State's seller disclosure law requires sellers of residential property to:
- Under Washington law, a buyer who receives a deficient seller disclosure statement has how long to rescind the contract?
- Which of the following is NOT required in Washington State to obtain a real estate broker license?
- In Washington State, designated broker supervision duties include:
- Washington State is classified as which type of property state for married couples?
- Under RCW Chapter 18.85, which entity has authority to revoke or suspend a Washington real estate broker's license?
- A Washington real estate broker who performs property management must:
- Which of the following acts would NOT constitute grounds for disciplinary action against a Washington real estate licensee?
- Washington's Real Estate License Law (RCW 18.85) requires that a broker's trust account be maintained:
- A Washington broker wishes to operate under a trade name. Under RCW 18.85, the broker must:
- How many hours of continuing education must a Washington real estate broker complete per two-year renewal cycle?
- Under Washington law, an unlicensed assistant may legally:
- When a Washington real estate license is placed on inactive status, the licensee may:
- Washington State's continuing education requirement for managing brokers during each renewal cycle is:
- A Washington designated broker who allows an affiliated broker to operate without adequate supervision may face:
- A Washington real estate firm that wants to advertise as 'ABC Realty' but operate under 'XYZ Properties' in another city must:
- An 'affiliated licensee' in Washington's real estate law refers to:
- Washington's real estate license law (RCW 18.85) exempts which of the following persons from the licensing requirement?
- When a Washington broker's license is revoked by the DOL, the broker may:
- Washington's real estate continuing education requirement includes a mandatory 3-hour 'core course' that covers:
- A Washington broker who wishes to operate as a sole proprietor (their own firm) must hold which license in addition to the broker license?
- Under Washington law, earnest money received in connection with a real estate transaction must be deposited in a trust account within:
- A Washington real estate broker convicted of a felony crime involving fraud or dishonesty may face:
- Washington's license law requires designated brokers to maintain transaction records for a minimum of:
- A Washington broker who negotiates the sale of a business opportunity (business only, no real estate) must:
- Under RCW 18.85, the designated broker of a Washington real estate firm is responsible for:
- Washington prohibits a real estate licensee from receiving compensation from more than one party in a transaction unless:
- The Washington Real Estate Research Center is associated with:
- A Washington real estate firm that has multiple office locations must:
- A Washington real estate broker who practices without a current license is:
- A Washington broker who moves their license from one firm to another must:
- A Washington broker's advertising must include:
- Under Washington's license law, which of the following is required to be licensed as a real estate broker?
- A Washington real estate broker is required to maintain errors and omissions (E&O) insurance because:
- In Washington, the penalty for a first-time violation of the Real Estate License Law (RCW 18.85) may include a fine of up to:
- A Washington real estate broker receives a referral fee from a mortgage lender for sending clients to the lender. This practice is:
- Under RCW 18.85, a Washington real estate broker found to have committed fraud may have their license:
- Washington real estate broker licenses are issued by the:
- If a Washington real estate broker dies, the designated broker of the firm must:
- Under Washington's real estate license law, the term 'managing broker' refers to:
- When a Washington seller accepts an offer, the listing broker must retain the original signed purchase agreement for a minimum of:
- A Washington broker who changes their mailing address must notify the DOL within:
- A Washington real estate licensee who acts as both the listing and selling broker on the same transaction and represents both parties must disclose the dual agency to:
- In Washington, a licensee who does not have a social security number may use an Individual Taxpayer Identification Number (ITIN) when applying for a real estate license.
- Under Washington's license law, which activity does NOT require a real estate license?
- The Washington Real Estate Program within the DOL issues how many types of real estate licenses?
- A Washington designated broker who wants to sell their firm must ensure that:
- Under RCW 18.85, advertising for a team within a real estate firm must:
- A Washington real estate licensee who practices under a team name must ensure that all team advertising:
- Under RCW 18.85, the broker's duty to supervise clients does NOT include which of the following?
- A Washington broker who assists a landlord in renting a commercial property for more than one year must hold a valid:
- Under Washington's RCW 18.85, a real estate broker's license may be denied if the applicant:
- In Washington, a real estate licensee who is also a licensed mortgage loan originator must:
- Washington's Real Estate License Law requires a listing agreement to include which of the following?
- A Washington real estate broker's license is suspended for 6 months. During the suspension, the broker may:
- Under Washington law, an unlicensed person may assist a licensed broker in completing a transaction by performing which task?
- Under Washington law, a broker who has a financial interest in a property they are listing must:
- In Washington, which of the following is considered a 'material fact' that a broker must disclose?
- Under Washington's broker license law, which of the following constitutes 'commingling' of funds?
- Washington law requires a real estate broker to keep trust account records that are:
- When a Washington real estate firm changes its designated broker, the new designated broker must:
- Under Washington law, a broker who negotiates their own purchase of a listed property must disclose to all parties that they are:
- In Washington, a 'pocket listing' (selling a property without MLS exposure) is:
- Washington prohibits a real estate broker from collecting a commission unless:
- In Washington, a broker who takes continuing education hours that do not meet DOL requirements will find that:
- Under Washington law, a real estate firm that sponsors a new broker must have the broker complete which requirement before the broker can independently show properties?
- A Washington real estate broker who receives an earnest money check made payable to the broker personally (not to the firm) must:
- A Washington broker's license is renewed automatically if they:
- A Washington broker who receives an earnest money deposit must keep records of the deposit for a minimum of how many years?
- The Washington State Legislature delegates authority to the DOL to regulate real estate through which statute?
- In Washington, a licensed real estate broker who assists a friend in selling their home without charging a commission is:
- Under Washington law, a broker who acts as both a buyer's agent and a listing broker on the same property without consent from both parties is:
- In Washington, a newly licensed broker must complete the 'Broker's First Year' course requirement of 30 additional hours within:
- Under Washington law, which statement about real estate commissions is TRUE?
- Under Washington law, a broker who offers to pay a referral fee to an unlicensed person for sending real estate clients is:
- A Washington broker's trust account is subject to an audit by the DOL. The broker cannot locate records for a transaction from 18 months ago. This is:
- Under RCW 18.85, the Washington DOL may conduct an investigation of a licensed broker based on:
- A Washington real estate broker who violates the Consumer Protection Act (CPA) by making unfair or deceptive representations may face:
- In Washington, a broker who receives an earnest money check must deposit it into the trust account:
- In Washington, a broker who represents a buyer exclusively must provide which written document to the seller or seller's agent at first contact?
- Under Washington's license law, the 'fiduciary duty' a broker owes to their client includes the duty of loyalty, which means the broker must:
- Under RCW 18.85, how long does a Washington real estate licensee have to report a criminal conviction to the Department of Licensing?
- A Washington managing broker wishes to open a real estate branch office. What is required?
- A Washington real estate licensee receives an earnest money check. Under RCW 18.85, the licensee must deposit the funds into a trust account within:
- A Washington real estate broker receives a written complaint. The DOL investigation finds a violation of trust account rules. The most serious sanction the DOL can impose is:
- Under Washington law, a real estate licensee may collect a fee from which of the following parties in a transaction?
- A Washington real estate broker's license was suspended for 30 days. During the suspension period, the broker may:
- A licensed Washington broker works for Firm A. Without informing Firm A, the broker also works for Firm B. This violates Washington law because:
- A Washington managing broker must maintain trust account records for a minimum of:
- A Washington managing broker receives notice of a DOL audit of their trust accounts. The managing broker must make trust account records available to DOL within:
- Under RCW 18.85, which of the following activities requires a Washington real estate license?
- Under Washington law, a designated broker is personally responsible for:
- A Washington real estate licensee wants to use the team name 'The Pacific Northwest Dream Team' in advertising. Under Washington advertising rules, the team name must:
- A Washington real estate licensee's license has lapsed due to failure to renew on time. The licensee may not perform real estate activities until:
- A Washington real estate broker is found guilty of misrepresenting a material fact to a buyer. Under RCW 18.85, this may result in all of the following EXCEPT:
- Under Washington's real estate brokerage practices rules, a licensee must disclose their license status when purchasing real property for their own account. This disclosure must be made:
- The Real Estate Education Program (REEP) in Washington is funded by:
- A Washington real estate brokerage firm must display which of the following at every licensed office location?
- A Washington real estate licensee wants to conduct a home inspection business in addition to their real estate practice. In Washington, this:
- A Washington licensee's employing broker (designated broker) closes the firm without notice. The licensee must:
- A Washington real estate broker is found to have commingled client trust funds with their personal funds. The DOL may:
- A Washington real estate licensee receives a gift card from a mortgage lender as a 'thank you' for referring clients. This practice:
- A Washington broker who works on commission for a real estate firm is typically classified for tax purposes as:
- Under Washington law, a real estate broker may operate under an assumed business name (trade name). What is required for the use of a trade name?
- A Washington real estate licensee wants to practice real estate in Oregon as well. To do so, the licensee must:
- A Washington real estate brokerage firm wants to affiliate with a national franchise. The firm's franchise agreement requires certain advertising standards. Under Washington law, the DOL's advertising rules:
- A Washington designated broker is retiring and wants to close the brokerage. What must happen to the existing listings and buyer representation agreements?
- Under Washington real estate law, a seller's agent who also represents the buyer in the same transaction without proper disclosure and consent has:
- A Washington broker completes 30 hours of continuing education before their license renewal. The required CE for a broker in Washington every two years includes:
- Washington allows real estate licensees to provide broker price opinions (BPOs) under which circumstances?
- A Washington licensee's managing broker is negligent in supervising the licensee's transaction, resulting in client harm. Under Washington law, the designated broker:
- A Washington designated broker wants to verify that an applicant for an affiliated broker position has an active license. The best way to verify this is to:
- A Washington real estate broker receives a complaint from a former client about the broker's conduct during a sale. The DOL's investigation process may include which of the following?
- A Washington licensee is practicing in a team environment. All team members must be:
- Under Washington law, the Real Estate Research Center (RERC) at Washington State University is funded by:
- A Washington broker notices their employing firm's designated broker has been absent for 6 months with no one supervising the office. The broker should:
- A Washington broker is also a licensed mortgage loan originator (MLO). In a real estate transaction, the broker may:
- A Washington real estate managing broker wants to open their own independent brokerage. What designation do they need to apply for?
- A Washington real estate licensee is asked to perform a broker's price opinion (BPO) for a client who wants to know the value of their home for estate planning. This is:
- A Washington buyer's broker learns that the seller is about to lose their home to foreclosure. The broker represents only the buyer. The broker may:
- A Washington buyer's agent files a lawsuit against a seller for misrepresentation on behalf of the buyer. Who is the proper party to bring the lawsuit?
- A Washington real estate agent posts an advertisement on Facebook saying 'Call Sarah for all your real estate needs! Best prices in Tacoma!' Without including the firm name, this advertisement is:
- A Washington real estate license examination candidate must complete pre-license education. For a broker candidate, the required number of clock hours is:
- A Washington licensee's client asks the licensee to lie to a lender about the buyer's ability to make a down payment. The licensee should:
- A Washington buyer's agent is receiving a referral fee from a mortgage lender for sending the buyer to that lender. If the buyer is unaware of this referral fee, the agent has:
- A Washington designated broker who discovers that one of their affiliated brokers has forged a client's signature on a listing agreement must:
- Under Washington's real estate license law, a broker who has been licensed for at least 3 years and completes additional education requirements may apply to the DOL for:
- A Washington real estate broker collects earnest money from a buyer. The designated broker is on vacation. The broker must still deposit the funds into the trust account within:
- A Washington real estate firm changes its business name. The firm must:
- A Washington real estate licensee who receives a referral fee from an out-of-state broker for referring a client must:
- Under Washington law, a real estate licensee who acts as a property manager without a real estate license, or outside the scope of activities requiring a license, commits:
- The Washington Department of Licensing requires broker applicants to complete how many hours of pre-license education?
Property Ownership
136 questions- In Washington's community property system, property acquired during marriage is owned:
- In Washington, separate property includes:
- A Washington property owner grants a neighbor an easement to use a private road across the property. The property with the easement is called the:
- A Washington State condominium owner holds:
- In Washington, adverse possession requires the claimant to use the property in a manner that is:
- Washington's Washington Condominium Act is found in:
- The Washington Homeowners Association Act (RCW 64.38) governs HOAs for:
- In Washington, tenancy in common differs from joint tenancy in that:
- A Washington homeowner grants a utility company permission to install power lines across the property. This type of easement is called a:
- Which of the following correctly describes a fee simple absolute estate in Washington?
- In Washington, when a spouse dies without a will in a community property marriage, the deceased's community property share:
- A Washington life estate gives the life tenant the right to:
- A Washington property owner's deed contains a restriction limiting the property to residential use only. This is an example of a:
- Washington's Shoreline Management Act primarily regulates development:
- In Washington, a cooperative (co-op) housing arrangement means residents:
- In Washington, the legal description most commonly used in urban areas to describe individual lots is the:
- Washington's government (rectangular) survey system divides land into townships that are:
- A section of land in the rectangular survey system contains:
- Washington's Washington Condominium Act (RCW 64.34) requires the seller of a new condominium to provide the buyer with a:
- A Washington property owner's neighbor builds a fence 2 feet over the property line. If the encroachment continues for 10 years without permission, the neighbor may claim ownership through:
- A Washington property owner who dies with a will has their estate distributed through:
- Washington State's escheat law means that when a property owner dies with no will and no heirs, the property:
- An appurtenant easement in Washington travels with the land, meaning:
- In Washington, a property owner's interest in their property can be involuntarily transferred to a creditor through a:
- In Washington, a property tax lien for unpaid taxes is which type of lien?
- In Washington, the right of a municipality to regulate land use through zoning ordinances comes from its:
- A Washington property described as 'the NW¼ of the NE¼ of Section 12, Township 25N, Range 4E' contains how many acres?
- A Washington title search would NOT reveal which of the following interests in property?
- A Washington property owner who fails to pay property taxes for three years may lose the property through:
- In Washington, the bundle of rights in real property ownership includes all of the following EXCEPT:
- A Washington property owner whose property is taken by eminent domain for a new highway must receive:
- In Washington, a lien on a property can be removed by all of the following EXCEPT:
- In Washington, which form of deed offers the buyer the LEAST protection?
- In Washington, the Torrens system (certificate of title) is:
- Washington's Marketable Title Act limits title searches by extinguishing old claims after a specified period. This benefits buyers by:
- In Washington, property that is gifted to one spouse during the marriage remains:
- A Washington landlord's right to re-enter a property after a tenant's lease expires is called:
- In Washington, 'air rights' refer to:
- In Washington, 'subsurface rights' or 'mineral rights' may be:
- In Washington, riparian rights give a landowner whose property borders a natural stream the right to:
- A Washington condominium association may levy special assessments against unit owners to pay for:
- A Washington property owner's right to prevent others from trespassing is known as the right to:
- In Washington, a tenancy at sufferance occurs when a tenant:
- In Washington, a partition action may be brought by one co-owner of property when:
- A Washington homeowner's association lien for unpaid dues typically has priority over:
- In Washington, a fixture dispute between a buyer and seller involves an item that:
- The 'MARIA' acronym used to identify fixtures in Washington real estate stands for:
- In Washington, the term 'appurtenance' in a deed means:
- In Washington, which of the following is classified as real property?
- Washington's Torrens title registration system differs from the standard recording system in that:
- In Washington, 'constructive notice' means that all persons are deemed to have notice of:
- In Washington, a 'license' in real property law (not a professional license) is:
- In Washington, the right of the government to control private property through zoning without paying compensation is called:
- In Washington, a property owner who loses their property through foreclosure may have the right to cure the default before the trustee's sale. This right is called the:
- In Washington, which government power allows local municipalities to collect property taxes?
- In Washington State, 'personal property' in real estate is best defined as:
- A Washington property is described as being in 'Section 6, Township 24N, Range 7E, W.M.' The 'W.M.' stands for:
- In Washington, the right of a surviving joint tenant to automatically inherit the deceased joint tenant's share is called the right of:
- A Washington property owner dedicates land for a public road. After dedication and acceptance by the government, the land becomes:
- In Washington, a leasehold estate differs from a freehold estate in that a leasehold:
- In Washington, a land trust holds real property title for the benefit of:
- In Washington, which deed provides the MOST protection to the buyer?
- In Washington, a 'license' granted to a neighbor to park in the driveway differs from an easement because a license is:
- In Washington, a right-of-way easement for a county road adjacent to a private property is considered:
- A Washington property owner who wants to create a nonprofit land trust to conserve their farmland may use a:
- In Washington, when a property owned in joint tenancy is sold by one joint tenant to a third party without the other joint tenant's consent, the joint tenancy is:
- In Washington, a 'tenancy by the entirety' is:
- In Washington, a 'fee simple defeasible' estate is one that:
- In Washington, a 'cloud on title' refers to:
- In Washington, to 'quiet title' means to:
- In Washington, 'constructive eviction' occurs when a landlord's actions or neglect renders the property uninhabitable, causing the tenant to:
- In Washington, 'tacking' in adverse possession allows a claimant to:
- In Washington, the sale of a mobile home (manufactured home) on land owned by the buyer is treated as:
- In Washington, a 'blanket mortgage' covers:
- In Washington, 'littoral rights' pertain to properties bordering:
- In Washington, the 'homestead exemption' protects the homeowner by:
- A Washington married couple purchases a home and takes title as 'community property with right of survivorship.' This means:
- In Washington, a 'possessory interest' in real property refers to:
- In Washington, the concept of 'unity of time' in joint tenancy means all joint tenants must:
- In Washington, the Washington State Department of Natural Resources (DNR) manages which type of state-owned land for the benefit of public schools and institutions?
- In Washington, a property boundary dispute between neighbors is most definitively resolved by:
- In Washington, the transfer of real property by 'devise' means the property is transferred:
- In Washington, a 'remainder interest' in a property follows which type of estate?
- In Washington, a property owner who suffers a loss of access to their property due to government construction may seek compensation through:
- Washington's Growth Management Act's 'essential public facilities' requirement means that local governments must provide sites for:
- Washington's Homeowners Association (HOA) Act (RCW 64.38) gives homeowners the right to:
- In Washington, a 'special assessment' by a local government (not an HOA) typically funds:
- In Washington, 'quiet enjoyment' in a leasehold context means the tenant has the right to:
- A Washington property owner wants to sell the mineral rights to their property separately. This is accomplished by:
- In Washington, property ownership in the name of a limited liability company (LLC) provides owners with:
- In Washington, a 'tenancy from period to period' is another name for a:
- In Washington, a 'defeasance clause' in a mortgage or deed of trust means:
- Two Washington residents hold title as joint tenants. One of them files for bankruptcy. What happens to the joint tenancy?
- In Washington, a prescriptive easement requires use of another's land that is open, notorious, continuous, and adverse for how many years?
- A Washington couple takes title as tenants in common. One spouse dies without a will. Under Washington's intestacy laws, the deceased's share passes to:
- A Washington easement appurtenant benefits which party?
- A Washington property is subject to a deed of trust. Who are the three parties to a deed of trust in Washington?
- In Washington, a fee simple absolute estate is best described as:
- A Washington property is held in a revocable living trust. For federal income tax purposes, how is the property treated?
- What distinguishes a general warranty deed from a special warranty deed in Washington?
- Under Washington community property law, which of the following assets acquired during marriage is considered separate property?
- A Washington homeowner has a life estate. What can the life tenant do with the property?
- A Washington property owner wants to grant a neighbor the permanent right to run a water pipe across a corner of their property. The appropriate instrument is:
- A Washington homeowner receives a notice of property tax appeal deadline from their county assessor's office. The appropriate body to hear a property tax appeal in Washington is:
- A Washington property is subject to an easement for a power line that has been abandoned for 20 years. The easement may have been terminated by:
- A Washington homeowner has a deed restriction that prohibits commercial use of the property. This type of restriction is an example of a:
- In Washington, who has the right of redemption after a trustee's sale (non-judicial foreclosure) under the Deed of Trust Act (RCW 61.24)?
- A Washington property owner wants to change a restrictive covenant that limits use to single-family residential. To remove or modify the covenant, the owner typically must:
- In Washington, property taxes are assessed based on:
- A Washington property is conveyed via a deed that states 'to John Smith, but if the property is ever used for commercial purposes, it shall revert to the grantor.' This is an example of a:
- Washington is a community property state. A married person wants to purchase investment property using their separate property funds without including their spouse's interest. To clearly establish separate property status, the purchaser should:
- A Washington landowner discovers their property's eastern boundary fence has been 2 feet inside the neighbor's property for over 30 years. The neighbor claims adverse possession. Under RCW 7.28.050, what must the neighbor prove?
- Under Washington's Homestead Act (RCW 6.13), a homestead exemption protects a portion of a primary residence's equity from:
- A Washington landlord of a residential property wants to convert units to condominiums and sell them. The conversion is governed by:
- A Washington property owner wants to donate property to a charity and retain a life estate. Upon the donor's death, the property passes to the charity. This arrangement is called a:
- In Washington, when a property owner dies intestate (without a will) and has no heirs, the property:
- A Washington couple is divorcing and must decide how to handle their jointly owned home. Which of the following is a common outcome in divorce proceedings?
- A Washington homeowner installs a fence that turns out to be 2 feet inside their neighbor's property. The neighbor later sells their property. The new neighbor demands removal of the fence. The fence owner may argue:
- A Washington property owner grants an easement to a neighbor to use a shared driveway. The easement is documented in a recorded deed. When the original grantor sells the property, the easement:
- A Washington property developer recorded a plat for a residential subdivision. Each lot in the subdivision has a deed restriction prohibiting commercial use. These restrictions are:
- A Washington property owner wants to change the use of their property from residential to commercial. They must apply for a:
- A Washington testator's will leaves a house to 'my grandchildren who survive me.' At the time of death, only 2 of 4 grandchildren are alive. Title passes to:
- A Washington property owner has an undivided half interest in a parcel as a tenant in common. The owner wants to sell their half interest without the other co-owner's consent. Washington law:
- A Washington homeowner's property is subject to an HOA that has a right of first refusal when the property is sold. If the homeowner receives an offer from a buyer, the HOA may:
- A Washington property owner donates a conservation easement to a land trust over their farmland. A conservation easement limits:
- A Washington property owner holds title as trustee of a revocable living trust. When selling the property, the deed should be signed by:
- In Washington, who has the primary authority to levy property taxes?
- Under Washington's community property law, can one spouse encumber (mortgage) community real property without the other spouse's consent?
- A Washington developer creates a common interest community (condominium or HOA) and records a declaration. Under RCW 64.34 (condos) or RCW 64.38 (HOAs), the declaration creates:
- A Washington property owner wants to sell to a specific buyer at below market value. The property is encumbered by a deed of trust with $300,000 owed. The lender's approval is needed for which type of sale?
- A Washington property owner has owned their home for 35 years and has paid off the mortgage. The property is free and clear. The owner sells to a buyer using seller financing. Who determines whether the title is clear at closing?
- A Washington property that was condemned under eminent domain but the government decided not to proceed with the project would be returned to the owner through:
- In Washington, when a property owner dies and their will attempts to leave the property to someone other than their surviving spouse, but the property is community property, what happens?
- A Washington property is owned by a limited liability company (LLC). If the LLC sells the property, who must sign the deed on behalf of the LLC?
- Washington's Manufactured/Mobile Home Landlord-Tenant Act (RCW 59.20) provides special protections for owners of manufactured homes who rent space in a mobile home park. These protections are necessary because:
- Under Washington's Uniform Disposition of Community Property Act, Washington community property retains its character even if a married couple moves to:
Finance
131 questions- Washington State does NOT have which of the following taxes?
- Washington's Real Estate Excise Tax (REET) is paid by:
- A Washington buyer borrows $400,000 at 7% annual interest. What is the interest accrued in the first month?
- Title insurance is especially important in Washington because the state uses a:
- An adjustable-rate mortgage (ARM) differs from a fixed-rate mortgage in that:
- Washington's Real Estate Excise Tax (REET) uses a tiered rate structure. For sales above $3 million, the rate is:
- A Washington buyer obtains a conventional loan with a 20% down payment on a $550,000 home. What is the loan-to-value (LTV) ratio?
- Under the federal Truth in Lending Act (TILA), the Annual Percentage Rate (APR) disclosed to a Washington borrower:
- Washington borrowers using FHA loans must pay:
- A Washington seller agrees to pay two discount points to buy down a buyer's interest rate. If the loan amount is $380,000, what is the cost of the points?
- Which type of loan program is specifically designed to help Washington veterans purchase homes with no down payment?
- In Washington, a deed of trust involves how many parties?
- Under Washington's Deed of Trust Act (RCW 61.24), the non-judicial foreclosure process requires a minimum notice period before the trustee's sale of:
- A Washington borrower's monthly principal and interest payment is $2,100. The lender requires the housing expense ratio not to exceed 28%. What minimum monthly gross income is required?
- A Washington buyer's loan has a 'due-on-sale' clause. This means:
- The Dodd-Frank Act created the Consumer Financial Protection Bureau (CFPB), which regulates Washington mortgage lenders primarily through:
- A Washington borrower's debt-to-income ratio (DTI) is calculated by dividing:
- Which mortgage type is most common for Washington home purchases and has a fixed interest rate for the life of the loan?
- A Washington homebuyer who qualifies for a USDA rural development loan must purchase a property:
- The Washington Housing Finance Commission (WSHFC) provides first-time homebuyer assistance programs that offer:
- The Truth in Lending Act (TILA) right of rescission allows a borrower to cancel a refinance mortgage on their primary residence within:
- Under RESPA, a Washington lender may NOT require a borrower to use a specific:
- A Washington lender charges origination fees and discount points at closing. Under TRID, these must be itemized on the:
- Private Mortgage Insurance (PMI) is typically required on Washington conventional loans when:
- The Federal Reserve's monetary policy affects Washington mortgage rates primarily by:
- A Washington buyer uses a bridge loan to:
- Washington's conforming loan limit for Fannie Mae/Freddie Mac in high-cost areas like Seattle/King County may be:
- Under Washington law, a deed of trust lender who completes non-judicial foreclosure (trustee's sale) generally:
- A Washington seller is willing to carry back a purchase money deed of trust to help the buyer finance the purchase. This arrangement is called:
- A Washington buyer applies for a loan. The lender runs a credit check, verifies income, and orders an appraisal. This process is called:
- In Washington, which type of mortgage allows the borrower to use the property as collateral without it being in the borrower's name (used for investment purposes)?
- A Washington borrower with an FHA loan wants to remove mortgage insurance. Under current FHA rules for loans originated after 2013 with less than 10% down, MIP:
- Washington's Community Reinvestment Act (CRA) obligations apply to:
- A Washington homebuyer obtains a 30-year fixed mortgage at 7% for $450,000. The monthly P&I payment factor for $1,000 at 7% for 30 years is approximately $6.65. What is the monthly P&I payment?
- In Washington real estate, a 'participation mortgage' is one where:
- A Washington mortgage that requires a large lump-sum payment at the end of the loan term is called a:
- In Washington, a 'wraparound mortgage' involves:
- Washington borrowers using a USDA guaranteed loan benefit from:
- Under ECOA (Equal Credit Opportunity Act), a Washington lender may NOT deny credit based on:
- In Washington, home equity lines of credit (HELOCs) are secured by:
- A Washington seller who accepts a buyer's VA loan offer should know that VA loans:
- A Washington first-time homebuyer uses the WSHFC 'Home Advantage' program. This program typically requires the buyer to:
- In Washington, a seller's concession (seller paying buyer's closing costs) may affect the:
- A Washington borrower refinances their home to access equity. The loan that replaces the original loan and provides additional cash is called a:
- A Washington mortgage servicer who receives a monthly payment applies it in which order?
- In Washington, a 'purchase money mortgage' is one where:
- In Washington, a 'non-recourse loan' means that if the borrower defaults:
- In Washington, private mortgage insurance (PMI) on a conventional loan must be automatically cancelled when the borrower's equity reaches what percentage under the Homeowners Protection Act?
- In Washington, which of the following best describes a 'hard money loan'?
- A Washington lender who makes a qualifying mortgage (QM) under the Ability to Repay rule is presumed to have:
- In Washington, a buyer who makes a down payment of less than 20% on a conventional loan is typically required to pay PMI, which protects:
- A Washington buyer's 30-year loan is $390,000 at 6.5%. The monthly P&I payment factor for $1,000 at 6.5% is $6.32. After the first month, the balance is approximately:
- In Washington, negative amortization occurs when:
- Which of the following statements about Washington State's property tax system is TRUE?
- Washington State's Mortgage Lending Fraud Prosecution Act makes mortgage fraud a felony. Mortgage fraud includes which of the following?
- In Washington, a 'recourse' loan allows the lender to:
- A Washington borrower is denied a mortgage loan. Under ECOA and Regulation B, the lender must:
- A Washington lender who discovers after loan closing that the borrower misrepresented their income may:
- A Washington buyer qualifies for a 30-year FHA loan at 6.75% for $320,000. FHA upfront MIP is 1.75% of the loan amount, added to the loan. The total loan amount after adding upfront MIP is:
- A Washington commercial loan with a 'yield maintenance' prepayment penalty requires the borrower who prepays to:
- A Washington borrower's adjustable-rate mortgage has an initial rate of 4.5%, a 2% annual adjustment cap, and a 6% lifetime cap. The maximum rate this loan could ever reach is:
- Under Regulation Z (TILA), Washington lenders who advertise a specific loan interest rate must also disclose the:
- Washington's Home Equity Loan Consumer Protection Act provides borrowers with additional protections for:
- In Washington, a 'contract for deed' (land installment contract) is considered a financing instrument rather than a sale because:
- In Washington, a buyer obtains a 'jumbo' mortgage. A jumbo loan is one that:
- In Washington, a 'teaser rate' on an ARM is the initial low interest rate that:
- Washington's Mortgage Broker Practices Act (RCW 19.146) regulates mortgage brokers who:
- In Washington, the Federal Home Loan Bank of Seattle (now FHLB Des Moines) serves Washington member banks by:
- In Washington, a 'buy-down mortgage' involves:
- Washington state charges a business and occupation (B&O) tax on real estate brokers based on their:
- Washington borrowers who receive a Loan Estimate must receive it within how many business days of submitting a complete mortgage application?
- In Washington, which of the following is a 'secondary market' entity that purchases mortgages from primary lenders?
- A Washington borrower refinancing their home to take cash out will receive a Truth in Lending disclosures and has the right to cancel the refinance within:
- Under Washington law, a hard money lender who charges excessive fees and interest rates on a mortgage loan to a consumer may face liability under:
- In Washington, the 'Closing Disclosure' required under TRID must be provided to the buyer at least how many business days before closing?
- Washington's 'first-time homebuyer' definition for most state programs means the buyer has NOT:
- Washington's Homeowner's Protection Act (HPA) requires lenders to automatically cancel PMI when the loan reaches which LTV?
- In Washington, the Federal Housing Administration (FHA) insures loans made by:
- In Washington, a 'portfolio loan' is one that a lender:
- Washington's Deeds of Trust Act includes a provision that restricts lenders from pursuing borrowers after non-judicial foreclosure. This is called the:
- Washington's consumer protection laws require mortgage lenders to provide borrowers with the Loan Estimate within 3 business days of application. If the lender provides it late, the borrower's primary remedy is:
- A Washington borrower applying for a conventional loan needs a credit score of at least how much to qualify for standard Fannie Mae/Freddie Mac underwriting?
- A Washington borrower's ARM has a 2/6 cap structure. The initial rate is 4%. The maximum rate over the life of the loan is:
- A Washington lender charges 2 discount points on a $320,000 loan. How much does the borrower pay in points at closing?
- A Washington buyer uses a VA loan to purchase a home. Which of the following is TRUE about VA loan requirements?
- A Washington borrower has a conventional loan with a loan-to-value ratio of 82%. The lender will require:
- Under TRID rules (TILA-RESPA Integrated Disclosure), what is the maximum number of business days before closing that a borrower must receive the Closing Disclosure?
- The Truth in Lending Act (TILA) requires lenders to disclose the Annual Percentage Rate (APR). The APR differs from the interest rate because it:
- Which loan type is best suited for a Washington borrower with high income, strong credit, and wanting to purchase a $1.5 million primary residence?
- A Washington property has a first mortgage of $280,000 and a second mortgage of $60,000. The lender forecloses on the first mortgage and the property sells for $310,000 at the trustee's sale. How much does the second mortgage lender receive?
- Which federal law requires lenders to provide borrowers with a Loan Estimate within 3 business days of receiving a loan application?
- A Washington borrower's FHA loan requires mortgage insurance premium (MIP). When can the annual MIP be cancelled on an FHA loan with a 3.5% down payment (96.5% LTV)?
- A Washington lender 'red flags' a transaction where the buyer's earnest money deposit is $50,000 but the bank statement provided shows only $5,000. This inconsistency indicates potential:
- A Washington seller agrees to carry back a second mortgage to help a buyer qualify. The seller should be aware that:
- What is the primary advantage of a 15-year mortgage over a 30-year mortgage for a Washington homebuyer?
- A Washington borrower is applying for a USDA Rural Development loan. USDA loans are available for properties located:
- Washington borrowers applying for a conventional conforming loan must meet Fannie Mae/Freddie Mac guidelines regarding debt-to-income ratios. The typical maximum total (back-end) DTI for conforming loans is:
- RESPA Section 8 prohibits which practice in connection with federally related mortgage transactions?
- Under the Home Mortgage Disclosure Act (HMDA), which information must lenders collect and report for mortgage loan applications?
- A Washington lender provides a 'bridge loan' to a borrower. A bridge loan is best described as:
- A Washington lender uses an automated valuation model (AVM) instead of a traditional appraisal for a home equity loan. AVMs are:
- A Washington homebuyer uses a 203(k) rehabilitation loan. This loan is offered by:
- A Washington lender offers a '5/1 ARM' loan. This means the interest rate:
- A Washington borrower pays $3,600 in prepaid interest (per diem) at closing. This charge typically represents:
- What is the purpose of title insurance when a lender requires it for a mortgage loan?
- A Washington buyer's loan officer discusses 'buying down the rate' by paying points. Generally, one discount point lowers the interest rate by approximately:
- The Equal Credit Opportunity Act (ECOA) prohibits lenders from discriminating in credit decisions based on all of the following EXCEPT:
- A Washington borrower has $50,000 in student loan debt, a $400/month car payment, and earns $7,500/month gross income. The proposed mortgage PITI is $2,200/month. What is the back-end DTI ratio?
- A Washington borrower completes a 'cash-out refinance' on their investment property. The proceeds are used to purchase a second investment property. For IRS purposes, the interest on the refinanced loan is:
- A Washington homebuyer uses down payment assistance from the Washington State Housing Finance Commission (WSHFC). This assistance is typically structured as:
- Under FIRPTA (Foreign Investment in Real Property Tax Act), when a foreign person sells U.S. real property, the buyer must typically:
- A Washington borrower has an existing mortgage with a low interest rate and wants to sell their home to a buyer who would like to take over the payments. The buyer's ability to do this depends on whether the existing mortgage is:
- A Washington borrower is told their mortgage application has a loan-to-value (LTV) of 92% and they must pay mortgage insurance. The borrower asks when PMI can be removed on their conventional loan. The answer is:
- A Washington lender approves a loan based on an appraised value of $520,000 at 80% LTV. The purchase price is $535,000. The maximum loan amount is based on:
- A Washington lender denies a mortgage application. Under the Equal Credit Opportunity Act (ECOA), the lender must provide the applicant with:
- What is the primary difference between a construction loan and a permanent mortgage?
- A Washington commercial loan has a 20-year amortization but requires a balloon payment at year 7. This means:
- A Washington lender uses the concept of 'debt coverage ratio' (DCR) when underwriting commercial loans. A DCR of 1.25 means:
- A Washington homeowner has a $400,000 home with a $240,000 first mortgage. They take out a home equity line of credit (HELOC) for $80,000. What is the combined LTV (CLTV)?
- Under Washington State's High-Cost Mortgage Protection Act (RCW 61.34), certain high-cost home loans are subject to additional consumer protections. These protections include restrictions on:
- A Washington buyer is applying for a loan and provides inaccurate income documentation to qualify for a higher loan amount. This constitutes:
- A Washington lender sells a mortgage loan in the secondary market to Fannie Mae. The lender continues to collect mortgage payments from the borrower and manages the loan account. In this arrangement, the lender is acting as a:
- A Washington borrower's gross monthly income is $9,200. Their monthly debts include car payment ($450), student loan ($300), and proposed mortgage PITI ($2,400). What is the back-end DTI ratio?
- A Washington investor completes a 1031 exchange and purchases a larger replacement property using exchange funds plus additional debt. The additional debt the investor takes on in the exchange is called:
- Under the Real Estate Settlement Procedures Act (RESPA), which of the following is NOT prohibited?
- A Washington borrower's lender requires that property taxes and homeowner's insurance be paid through an escrow impound account. The initial escrow deposit at closing typically covers:
- A Washington home buyer is using a conventional loan with 20% down and an 80% LTV. Their loan is $480,000 at 6% for 30 years. Using a monthly payment factor of $6.00 per $1,000, what is the monthly P&I payment?
- A Washington lender offers a 'portfolio loan' that does not conform to Fannie Mae/Freddie Mac guidelines. Portfolio loans are retained by the originating lender on their own books. This means the lender:
- A Washington lender denies an application from a qualified applicant who is 75 years old, citing concerns about the length of the loan term relative to the applicant's age. This denial is most likely a violation of:
- Washington State's Home Loan Protection Act (RCW 61.34) provides protections against predatory lending. The act requires that high-cost loans not include certain features. Which of the following features would NOT trigger predatory lending concerns?
- A Washington homeowner sells their home after 3 years and receives $180,000 in capital gain. They are single. Under IRC Section 121, how much of the gain is excluded from federal income tax?
Property Management
122 questions- Washington's Residential Landlord-Tenant Act (RCW 59.18) requires landlords to maintain rental units in a:
- Under Washington's RCW 59.18, the maximum security deposit a residential landlord may collect is:
- In Washington, a landlord must return a security deposit within how many days after the tenant vacates?
- A Washington landlord wishes to raise the rent on a month-to-month tenant. The landlord must provide written notice at least:
- A Washington tenant on a month-to-month lease wants to terminate their tenancy. They must give the landlord:
- Under Washington's unlawful detainer statutes, a landlord who begins eviction proceedings must first provide the tenant with a:
- In Washington, a property manager's trust account must be:
- A Washington commercial lease with a percentage rent clause requires the tenant to pay:
- In a Washington triple-net (NNN) commercial lease, the tenant is responsible for:
- A Washington property manager who collects rents and security deposits is performing activities that require:
- A Washington landlord may enter a tenant's unit for non-emergency repairs with at least:
- A Washington property manager prepares an annual operating budget for a residential community. The management fee of 8% is applied to:
- Under the Washington Residential Landlord-Tenant Act, which of the following is a tenant's right?
- A Washington landlord who retaliates against a tenant for filing a complaint with a government agency may:
- A gross lease in commercial real estate means:
- A Washington commercial tenant has a right of first refusal in their lease. This means:
- Washington's Move-In Checklist requirement under RCW 59.18 means landlords must:
- In Washington, a property manager who collects a security deposit must place it in:
- Washington's 'just cause eviction' protections in certain jurisdictions mean a landlord may only evict a month-to-month tenant for:
- A Washington property manager who manages properties for multiple owners must keep each owner's funds:
- Under Washington's Residential Landlord-Tenant Act, a landlord must give a tenant the right to receive a statement of conditions before the rental term begins, also known as the:
- A Washington tenant has a fixed-term lease expiring in 6 months. The landlord wishes to terminate the tenancy at lease end. The landlord must:
- In Washington, a net lease shifts which costs to the tenant?
- A Washington property management company serves as a fiduciary for their property owner clients. This means they must:
- A Washington commercial tenant with a percentage rent lease has a natural breakpoint of $600,000 in annual sales with a 5% percentage rent rate. If actual sales are $750,000, what additional percentage rent is owed?
- A Washington commercial property manager negotiating a lease renewal should consider the tenant's:
- In Washington, a residential property manager who violates the Landlord-Tenant Act may be liable to the tenant for:
- A Washington residential property manager discovers a tenant has been illegally subletting the unit. Under RCW 59.18, the landlord may:
- In Washington, a 'holdover tenant' who remains after a fixed-term lease expires without a new agreement converts to a:
- Under Washington's Residential Landlord-Tenant Act, a landlord who wrongfully withholds a security deposit may owe the tenant:
- In Washington, a residential lease provision that waives the tenant's right to a move-in inspection checklist is:
- A Washington property manager with 50 residential units should establish which internal control to prevent theft?
- In Washington, an 'unlawful detainer' action is the legal process used by a landlord to:
- A Washington property management agreement is a contract between the property manager and the:
- A Washington landlord who fails to provide the required 24-hour notice before entry may be liable to the tenant for:
- In Washington, a residential lease with an automatic renewal clause that does not require affirmative action from the tenant to prevent renewal is:
- A Washington property manager receives a request from a prospective tenant for a reasonable accommodation. The manager must:
- In Washington, a residential tenant who is a victim of domestic violence, sexual assault, or stalking may terminate a lease early by providing:
- Washington's prohibition on retaliatory evictions (RCW 59.18.240) means a landlord cannot serve a notice to vacate within a specified period after a tenant:
- A Washington commercial property manager calculates a tenant's proportionate share of common area maintenance (CAM) charges using the tenant's:
- In Washington, the property manager's duty to account to the owner includes providing:
- A Washington tenant subleases their apartment without the landlord's written consent, and the lease prohibits subleasing. The landlord's proper course of action is to:
- A Washington property manager must disburse owner funds within what time period after collecting rents?
- In Washington, a commercial tenant's lease may include a 'co-tenancy clause' that:
- Washington's Residential Landlord-Tenant Act applies to which type of housing?
- In Washington, a property manager must give tenants a written receipt when collecting cash rent unless:
- A Washington commercial property manager receives a tenant's request to assign their lease to a new business. The property manager should first:
- In Washington, a residential property manager who improperly applies tenant security deposits to operating expenses is committing:
- A Washington landlord who wants to convert a rental property to condominiums must follow the requirements of:
- A Washington retail tenant's lease has a 'kickout clause.' This clause allows:
- A Washington property manager is hired to manage a 50-unit apartment complex. They should establish which type of maintenance program?
- A Washington commercial property owner wants to benchmark the performance of their building against similar buildings. The most useful metric for comparison is:
- In Washington, an HOA board member who votes to hire their own landscaping company without disclosing their financial interest is committing:
- In Washington, a tenant who has been a victim of domestic violence may request to have their locks changed by the landlord. Under RCW 59.18, the landlord:
- A Washington property manager who receives a tenant's maintenance request should document it because:
- In Washington, a property manager who manages 10 or more residential units should have which type of insurance to protect against errors in property management?
- A Washington residential tenant withholds rent claiming the heater has not worked for 3 weeks and the landlord has not responded to repair requests. Under RCW 59.18, the tenant should have:
- A Washington property manager who collects last month's rent in advance must treat this amount as:
- A Washington HOA that wants to amend its governing documents (CC&Rs) typically requires:
- A Washington commercial property manager negotiating a lease for a new tenant should conduct which due diligence?
- Under Washington's RCW 59.18, a landlord may enter a tenant's unit without notice for which reason?
- A Washington tenant has been in a month-to-month lease for 3 years. The landlord wants to convert the unit to another use. The required notice to terminate this tenancy under current Washington law is:
- A Washington property manager accepting a management fee in excess of what is agreed in the management agreement without the owner's knowledge is:
- A Washington rental property owner wants their property manager to maximize NOI. The manager should focus on:
- Washington's Rental Assistance programs during the COVID-19 pandemic were administered through:
- A Washington residential property manager who fails to return a security deposit or provide an itemized written statement within 21 days faces:
- A Washington commercial property leases office space under a gross modified lease. Under this arrangement:
- A Washington property manager who charges a tenant late fees must ensure the late fee provision is:
- In Washington, a commercial tenant who stays beyond the lease term without the landlord's consent becomes a:
- In Washington, the maximum amount a landlord may charge for a tenant's late payment of rent is:
- A Washington property manager who manages a 100+ unit apartment complex should implement which practice to optimize tenant retention?
- In Washington, a property manager's professional ethical obligation means they should never:
- A Washington apartment building has a habitability issue — the hot water heater fails. Under RCW 59.18, the landlord must restore hot water within:
- A Washington property manager prepares a 'pro forma' for a potential investor. A pro forma is:
- A Washington HOA manager wants to implement a special assessment for a major roof repair. The HOA must first:
- A Washington tenant reports a pest infestation. Under RCW 59.18, the landlord is generally responsible for:
- A Washington commercial property manager calculates 'absorption rate' for office space in their market. This metric tells them:
- Washington state law requires landlords who collect a security deposit to provide tenants with a written:
- A Washington residential property manager holds security deposits. Under RCW 59.18, within how many days of a tenancy ending must the landlord return the deposit or provide an itemized statement?
- A Seattle property manager receives a 3-day pay or vacate notice. Under RCW 59.12, after the 3-day period, the landlord may:
- Under Washington's Landlord-Tenant Act (RCW 59.18), a landlord who fails to make required repairs after proper written notice may be subject to:
- A commercial property manager in Bellevue is negotiating a lease for office space. The tenant wants a gross lease. Under a gross lease structure, who pays operating expenses?
- A Spokane commercial landlord wants to include a percentage rent clause in a retail lease. This type of clause requires the tenant to pay:
- A Washington property manager discovers that a tenant has sublet the unit without permission, in violation of the lease. The property manager's first step should be:
- A Washington property manager's management agreement is terminated by the owner. The manager continues to collect rents for 30 days after termination without authorization. The manager has committed:
- Under Washington's Residential Landlord-Tenant Act, a landlord who wrongfully withholds a security deposit may be liable to the tenant for:
- A residential tenant in Washington wants to end their month-to-month tenancy. Under RCW 59.18, how much advance written notice must the tenant give?
- A Seattle commercial tenant holds a triple net (NNN) lease. Under a NNN lease, the tenant is responsible for paying:
- A Washington property management company manages units in multiple buildings. Trust account funds from different properties should be:
- A Washington tenant gives proper notice to vacate but leaves personal belongings behind. Under RCW 59.18, the landlord must:
- A Washington property management company manages a building with a known mold problem. The management company fails to disclose this to a prospective tenant. The tenant later becomes ill. The management company may be liable for:
- A Washington tenant reports that the heating system has failed during a cold weather period. Under RCW 59.18, the landlord must restore heat within:
- A commercial tenant in Seattle exercises an option to renew their lease. The original lease expired but the tenant is holding over while the renewal paperwork is completed. This situation is:
- A Washington commercial property manager discovers a tenant has installed an unpermitted improvement. The manager should:
- A Washington tenant wants to terminate a fixed-term lease early due to domestic violence. Under RCW 59.18.575, the tenant:
- A Washington property owner wants to raise the rent on a month-to-month residential tenant. Under RCW 59.18 (as amended), the landlord must provide how much advance notice for a rent increase?
- Under Washington's condominium act (RCW 64.34), unit owners are assessed for their share of common area maintenance and capital reserves. A unit owner who does not pay their assessments:
- A Washington commercial landlord and tenant have a lease that has expired but the tenant continues to pay rent and the landlord continues to accept it. This creates a:
- A Washington residential property manager receives a written request from a city code enforcement officer to inspect a rental unit. The manager should:
- A Washington property management company discovers an employee has been embezzling trust account funds. The designated broker should immediately:
- Under Washington's Just Cause Eviction ordinance (applicable in certain cities), a landlord must have a specific reason to terminate a tenancy. Which of the following is typically a valid just cause for eviction?
- A Washington property management company enters into a management agreement with a property owner. The management agreement should specify all of the following EXCEPT:
- A Washington residential tenant suffers an injury on the rental property due to a hazard the landlord knew about but failed to fix. The landlord's liability is governed by:
- A Washington residential property manager receives a security deposit for $2,800 at the beginning of a tenancy. The manager must deposit these funds into:
- A property management company in Seattle manages a building subject to Seattle's Rental Housing Inspection Program (RHIP). Under this program, landlords must:
- A Washington property manager receives a maintenance request from a tenant about a broken window latch. The property manager's responsibility under RCW 59.18 is to:
- A Washington landlord wants to enter a tenant's unit to show it to prospective tenants. Under RCW 59.18, the landlord must provide:
- Under Washington's Manufactured/Mobile Home Landlord-Tenant Act (RCW 59.20), if a manufactured home park owner wants to close the park, they must provide residents with:
- A Washington commercial property manager is negotiating a lease for an anchor tenant in a retail center. The anchor tenant wants exclusive use rights preventing the landlord from leasing to a competitor. This lease provision is called:
- A Washington commercial tenant vacates before the lease term ends without cause. The landlord has a duty to:
- A Washington residential tenant believes their landlord is retaliating against them for reporting a housing code violation. Under RCW 59.18.240, a landlord may not retaliate by:
- A Washington commercial property manager manages an office building with common area restrooms. Under the ADA, the property manager must ensure restrooms are:
- A Seattle commercial landlord offers a 'tenant improvement allowance' (TI) to a new tenant as part of a lease negotiation. A TI allowance is:
- A Washington commercial tenant's lease is about to expire. The landlord wants to redevelop the building and has given proper termination notice. The tenant asks for a lease extension while they find new space. The landlord may:
- A Washington residential property manager changes a tenant's lock after the tenant allegedly violated the lease. Without a court order, this is:
- A Washington commercial tenant wants to sublease half their space to another business. Under most commercial leases, subleasing requires:
- A Washington landlord wants to convert a garage into a rental ADU. Before renting it out, the landlord must ensure the unit:
- A Washington property manager executes a commercial lease on behalf of a property owner. The manager does not have a written power of attorney or specific written authorization from the owner. This lease may be:
- Under Seattle's Winter Eviction Ban (Ordinance 126148), which tenants are protected from eviction during the winter protection period?
- A Washington property manager must keep property management records for a minimum of 3 years. If a dispute about a security deposit arises 2.5 years after a tenancy ends, the manager's records from that tenancy:
- A Washington tenant has not paid 2 months' rent. The property manager has sent proper notices. The next step in the legal eviction process is:
- A Washington property management company discovers that a tenant has been running a daycare center from their apartment without authorization. The management company should:
Escrow & Title
119 questions- In Washington State, closings are typically handled by:
- Washington uses a deed of trust instead of a mortgage, which means the lender's primary remedy upon default is:
- A lender's title insurance policy in Washington protects:
- Washington's recording act is a 'race-notice' statute, meaning a subsequent purchaser is protected if they:
- In Washington, an escrow agent's primary duty is to:
- A preliminary title report (title commitment) in Washington is issued by:
- A Washington buyer discovers a mechanic's lien on the property they are purchasing. This lien should be:
- In a Washington real estate closing, proration means:
- In Washington, the most common type of deed used in a standard residential sale is a:
- A quitclaim deed in Washington transfers:
- For a Washington deed to be valid, it must include all of the following EXCEPT:
- When a Washington property is sold subject to an existing mortgage, the buyer:
- Washington's race-notice recording statute protects subsequent purchasers who:
- A Washington title insurance owner's policy is issued for:
- In Washington, a deed of reconveyance is issued when:
- A Washington lis pendens recorded against a property means:
- A Washington property's chain of title refers to:
- In Washington, the county auditor's office records real estate documents in order to:
- A title insurance policy exception lists items that are:
- A buyer in Washington purchases a home and does not obtain owner's title insurance. Two years later, a prior unrecorded deed surfaces. The buyer:
- In Washington, a deed must be acknowledged (notarized) before it can be:
- In a Washington escrow closing, the escrow agent may NOT:
- Washington's homestead exemption protects a portion of a homeowner's equity from:
- When a Washington seller prepays the full year's property taxes and the sale closes on July 1, the seller receives a credit from the buyer for:
- A Washington property is sold and closes. The deed is not recorded for 45 days. During that time, another creditor of the seller records a judgment lien. Under Washington's race-notice statute:
- In Washington, a certificate of title issued after a title search provides:
- In Washington, a notice of trustee's sale must be recorded and mailed to the borrower at least how many days before the sale?
- Under Washington's Deed of Trust Act, after a trustee's sale, the borrower's right of redemption is:
- An owner's title insurance policy in Washington protects against which of the following defects?
- In Washington, the ALTA extended coverage owner's title insurance policy provides broader protection than a standard policy by covering:
- In Washington, a title insurance company that underwrites title for a real estate transaction is required to be licensed by the:
- The Washington Escrow Agent Registration Act (RCW 18.44) regulates which entities?
- In Washington, the Real Estate Excise Tax Affidavit (REETA) must be submitted to the county treasurer:
- A Washington property is subject to a lien priority dispute. Generally, lien priority is determined by:
- A title insurance policy exception for 'taxes and assessments not yet due and payable' means the policy:
- In Washington, who has the primary responsibility for ensuring that all escrow instructions are fulfilled before funds are disbursed?
- A Washington title search reveals a 'gap' in the chain of title — a period where there is no recorded conveyance. This 'gap' is:
- In Washington, a 'settlement statement' provided at closing (previously HUD-1, now Closing Disclosure for TRID loans) shows:
- In Washington, the transfer of title occurs legally at the moment:
- A Washington buyer learns at closing that the property has an unresolved mechanic's lien from a contractor the seller hired. The correct resolution is:
- In Washington, a deed-in-lieu of foreclosure is an agreement where:
- In Washington, a property sold at a trustee's sale (non-judicial foreclosure) is typically conveyed by a:
- Under Washington law, a 'satisfaction of judgment' removes a judgment lien from a property when:
- In Washington, a special warranty deed (also called a statutory warranty deed in some contexts) warrants title against claims arising:
- In Washington, the escrow closing process is initiated by:
- A Washington buyer's lender requires that title be 'marketable.' Marketable title means:
- In Washington, a deed recorded at the county auditor's office becomes part of the public record. This means it provides:
- A Washington seller uses a 'seller carry-back' deed of trust for part of the purchase price. This means the seller:
- In Washington, the 'junior lien holder' in a foreclosure proceeding typically:
- In Washington, the 'policy effective date' of a title insurance policy is:
- A Washington property has a right-of-way easement for a gas pipeline. This easement was recorded before the seller purchased the property. Under the race-notice statute, the seller's knowledge:
- In Washington, a 'subordination agreement' in real estate means:
- In Washington, title insurance typically does NOT cover which of the following risks?
- A Washington escrow officer who has competing instructions from a buyer and seller about fund disbursement should:
- In Washington, the ALTA homeowner's policy of title insurance (ALTA Homeowner's Policy) provides extended coverage including protection against:
- A Washington property has both a first and second deed of trust. The first deed of trust is foreclosed. What happens to the second deed of trust?
- In Washington, an 'endorsement' to a title insurance policy is:
- In Washington, 'impounds' or 'escrow accounts' maintained by a lender for a borrower's property taxes and insurance:
- In Washington, a lender's 'closing protection letter' (CPL) is issued by a title insurance underwriter to:
- A Washington property is conveyed by a trustee's deed after a trustee's sale. The new owner takes title:
- In Washington, a 'short sale' occurs when:
- In Washington, a 'split closing' occurs when:
- In Washington, real property taxes constitute a specific lien on the property assessed that has priority over:
- In Washington, a release of a mechanic's lien should be obtained from the:
- Washington's Deed of Trust Act gives a borrower how many days after the trustee's sale to assert any claims against the trustee or lender for procedural violations?
- In Washington, when a buyer assumes an existing mortgage, the buyer should determine whether:
- A Washington property has two liens: a first deed of trust for $300,000 and a second for $80,000. The property sells at foreclosure for $350,000. The second lienholder receives:
- A Washington seller provides a 'warranty of title' in their deed. If a prior undisclosed lien is later discovered by the buyer, the buyer can:
- In Washington, a preliminary title report is issued BEFORE the title insurance policy. The preliminary report does NOT provide:
- In Washington, 'constructive fraud' in a real estate transaction differs from 'actual fraud' in that constructive fraud:
- A Washington escrow company holds $50,000 in earnest money when the buyer and seller have a dispute about who is entitled to the funds. The escrow company's proper course of action is:
- In Washington, a 'foreclosure mediation' program allows defaulting borrowers to:
- In Washington, the FIRPTA (Foreign Investment in Real Property Tax Act) withholding requirement applies when:
- Washington's Real Estate Excise Tax (REET) is collected by the:
- A Washington property seller who owes back HOA dues at closing will typically have those dues:
- At a Washington closing, the seller's prorated property taxes appear as a:
- A Washington title search reveals a mechanic's lien filed after the purchase and sale agreement was signed but before closing. The buyer's attorney should:
- In Washington, which document conveys real property from a grantor to a grantee and contains the strongest title warranties?
- A Washington title insurance policy protects against losses from defects existing:
- Washington's recording act protects subsequent purchasers who record first. This type of recording act is a:
- In Washington, what does a preliminary title commitment (prelim) represent?
- A Washington seller sells their home without a real estate agent. At closing, the seller discovers there is an old unpaid judgment lien against the property. The title company will:
- In a Washington real estate closing, the escrow officer's primary role is to:
- When a Washington property is sold using a deed of trust, what document does the beneficiary sign and deliver after the loan is fully paid off?
- When Washington real property is sold, who is responsible for paying the Real Estate Excise Tax (REET)?
- After a Washington trustee's sale (non-judicial foreclosure), the title passes to the highest bidder. What document evidences the transfer?
- A Washington property is being sold during a divorce proceeding. Who must sign the deed?
- In Washington, which of the following encumbrances would NOT appear in a title search of public records?
- A Washington buyer purchases a property and later discovers that the prior owner had an unpaid IRS tax lien that wasn't paid at closing. The buyer's title insurance policy will:
- Washington uses the term 'closing' to describe the final step of a real estate transaction. Who typically coordinates the closing in Washington?
- A Washington title company discovers an old deed from 1945 that was never recorded. This unrecorded deed creates a:
- A Washington deed must contain which of the following essential elements to be valid?
- In Washington, a lis pendens recorded against a property provides notice that:
- In a Washington real estate transaction, when does legal title transfer to the buyer?
- A Washington title search reveals that the property was part of a subdivision that was never platted and recorded with the county. A potential buyer should be concerned because:
- A Washington buyer wants to purchase a property that has a mechanic's lien for $12,000. The seller refuses to pay it. The buyer can:
- A Washington property owner sells their home and receives net proceeds of $180,000 after the mortgage payoff and closing costs. The seller used the proceeds to purchase a replacement home. For capital gains tax purposes, the seller:
- After closing, a Washington buyer discovers the title company missed a recorded easement that significantly impacts the property's use. Under the owner's title insurance policy, the buyer:
- A Washington property owner wants to transfer property to their adult child. The least expensive and simplest deed to use is a:
- At a Washington closing, a buyer receives a settlement statement that shows an unexpected $1,500 charge not in the Loan Estimate. Under TRID rules, the buyer may:
- A Washington title company discovers a 'cloud on title' affecting a property. A cloud on title is best described as:
- In a Washington 1031 exchange transaction, why must a qualified intermediary (QI) be used?
- In Washington, a 'chain of title' refers to:
- A Washington buyer's title insurance policy (owner's policy) covers the buyer for losses from title defects. Who pays for the owner's title insurance in a typical Washington transaction?
- A Washington title insurance company issues a policy with an exception for a specific easement identified in Schedule B. This means:
- In Washington, the escrow closing process for a residential purchase typically includes which final step?
- What is the difference between an escrow company and a title company in Washington?
- What is the purpose of a 'holdback' in a Washington real estate escrow?
- A Washington property is sold and a buyer's closing costs include prepaid items. Which of the following is a prepaid item, not a closing cost?
- In Washington, a 'deed in lieu of foreclosure' is an agreement where:
- In Washington, when is the escrow agent authorized to release the buyer's earnest money to the seller after a buyer default?
- A Washington escrow company receives the recording confirmation. What is the significance of the recording date?
- A Washington home sale closing has been delayed 3 times due to lender issues. The buyer wants to know if the seller can terminate the contract due to the delays. Under typical NWMLS agreement language, termination is possible only if:
- A Washington title company discovers an old deed restriction from 1962 that limits the property to residential use only. The restriction has been violated for the past 15 years by the current owner who operates a small business from home. Can the restriction be enforced?
- In Washington, a 'quiet title action' is a legal proceeding that:
- A Washington property buyer discovers that a prior owner's contractor filed a mechanic's lien 3 years ago for $25,000 that was never satisfied or released. The lien affects the property the buyer is about to purchase. The title company should:
- Washington's recording act requires documents to be submitted to the county auditor for recording. To be eligible for recording, a deed must generally:
- A Washington homeowner refinances their primary residence. The homeowner has a 3-day right of rescission under the Truth in Lending Act (TILA). During this period, the homeowner may:
- A Washington escrow officer is instructed by the seller to close the transaction on December 30 for tax reasons, but the buyer's loan hasn't funded yet. The escrow officer should:
Environmental
117 questions- The Washington State Environmental Policy Act (SEPA) requires environmental review for:
- Lead-based paint disclosure is required in Washington for residential properties:
- A Washington property owner discovers underground storage tanks (USTs) on their property. They should:
- Radon is a concern in Washington real estate because:
- The Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA/Superfund) makes current property owners potentially liable for:
- Asbestos-containing materials (ACM) in Washington buildings constructed before 1980 present a hazard primarily when:
- Washington's Department of Ecology regulates which of the following environmental programs?
- The Model Toxics Control Act (MTCA) is Washington's equivalent of the federal CERCLA and primarily governs:
- A Washington seller's disclosure statement (Form 17) asks about which environmental issues?
- Wetlands on a Washington property are significant because:
- A Phase I Environmental Site Assessment (ESA) in Washington is designed to:
- Mold in a Washington rental unit is primarily a landlord concern because:
- Washington's Shoreline Management Act (SMA) was enacted primarily to:
- A Washington property owner near Puget Sound discovers their property has soil contaminated with petroleum products from a former gas station. Under MTCA, they:
- A Washington developer of a project near a stream must obtain a Hydraulic Project Approval (HPA) from:
- In Washington, a 'brownfield' property is one that:
- A Washington property buyer is concerned about electromagnetic fields (EMF) from power lines near the property. Under Washington law, the broker's duty is to:
- The Washington Clean Air Act is enforced regionally by:
- A Washington buyer is purchasing a property with a septic system. The buyer should be aware that:
- In Washington, the presence of agricultural pesticides in soil near farmland may affect:
- A Washington property contains fill materials of unknown composition. This is a concern because:
- Washington's Department of Ecology requires property owners who discover underground storage tanks (USTs) on their property to:
- A Washington property buyer's Phase I ESA reveals the site was previously a dry cleaning operation. The primary environmental concern is:
- Under SEPA, a Washington project that could have significant adverse environmental impact requires preparation of an:
- Washington's Puget Sound is classified as federally impaired waters. Real estate near Puget Sound may be subject to additional requirements from:
- In Washington, a Voluntary Cleanup Program (VCP) administered by the Department of Ecology allows property owners to:
- A Washington real estate transaction near a Superfund site should trigger which due diligence step?
- Vapor intrusion from a contaminated site can affect adjacent properties by:
- Washington's Forest Practices Act regulates timber harvesting to protect:
- A Washington residential property near a former orchard may have soil contamination from:
- In Washington, a 'sensitive area' or 'critical area' on a property must be disclosed on the seller disclosure statement (Form 17) because:
- Carbon monoxide (CO) detectors are required in Washington residential dwellings because:
- In Washington, a seller who knows their property was used for methamphetamine manufacturing must:
- A Washington property owner's well water tests positive for arsenic above the EPA maximum contaminant level (MCL). This is:
- Washington's Hazardous Waste Management Act governs the generation, storage, treatment, and disposal of hazardous wastes. Commercial properties with on-site hazardous waste activities:
- In Washington, the presence of a 100-year floodplain designation on a property requires buyers to know that:
- A Washington property located near a former gas station should be investigated for contamination from:
- Washington's Clean Water Act permits (NPDES permits) are required for:
- A Washington property with a wetland mitigation bank credit allows a developer to:
- A Washington landowner near a Puget Sound shoreline proposes to fill a portion of a wetland adjacent to their property. They will need all of the following permits EXCEPT:
- In Washington, a property with a 'No Further Action' (NFA) letter from the Department of Ecology means:
- A Washington seller fails to disclose known soil contamination on their property. The buyer discovers it after closing. The buyer may have claims against the seller for:
- Washington's Department of Ecology Toxics Cleanup Program (TCP) is responsible for:
- The 'innocent landowner defense' under CERCLA protects a Washington property owner from liability for contamination if they can show they:
- Washington's Puget Sound Clean Air Agency (PSCAA) regulates air quality in which counties?
- A Washington building inspection reveals suspected asbestos-containing floor tiles. The recommended course of action is to:
- In Washington, lead-based paint inspections for properties built before 1978 should be performed by:
- Washington's Stormwater Management Program requires developers of sites over a certain size to:
- In Washington, a prospective buyer of a commercial property should conduct an 'All Appropriate Inquiries' (AAI) investigation primarily to:
- In Washington, a seller who is aware of a leaking oil tank in the basement of their home must:
- Washington requires disclosure of proximity to agricultural chemicals in which seller disclosure form?
- In Washington, a property located in a designated 'geologically hazardous area' under the GMA may include areas prone to:
- In Washington, a homebuyer purchasing a property in the Puget Sound basin should be aware of regulations related to which resource protection?
- Washington's Hazardous Household Waste (HHW) program is relevant to real estate when:
- In Washington, the presence of lead water service lines in a home (pipes connecting the main water line to the house) is:
- Washington's Voluntary Cleanup Program (VCP) is particularly valuable for which type of real estate transaction?
- In Washington, 'emerging contaminants' such as PFAS (per- and polyfluoroalkyl substances) are increasingly being discovered near:
- In Washington, the 'no net loss of wetlands' policy means that if a developer fills wetlands for a project, they must:
- A Washington seller must disclose if they have received any notices from a governmental agency regarding violations involving the property. This requirement comes from:
- In Washington, a homebuyer's concern about an oil tank buried in the yard should be addressed by:
- A Washington homeowner suspects their drinking water well may be contaminated by a neighboring industrial facility. Their first step should be to:
- A Washington seller's home was built in 1962 and has original wood siding that was never repainted. The buyer should be concerned about:
- A Washington state environmental audit (SEPA review) that results in an EIS typically takes how long to complete?
- In Washington, a 'mitigation sequencing' approach for environmental impacts requires developers to first:
- In Washington, the Puget Sound Action Agenda is a plan to restore and protect:
- A Washington property owner discovers a bald eagle nest on their property. This triggers protections under:
- In Washington, a Hazardous Materials Business Plan (HMBP) or Tier II chemical inventory report may trigger which concern for prospective commercial property buyers?
- Washington's Pollution Liability Insurance Agency (PLIA) provides:
- In Washington, a buyer's 'due diligence' period for investigating environmental conditions on commercial property typically includes ordering:
- In Washington, the presence of a 'polychlorinated biphenyl' (PCB)-containing electrical transformer on a commercial property requires:
- A Washington home inspector discovers evidence of a former oil tank in the yard. The buyer's recommended response is to:
- In Washington, an 'environmental cleanup covenant' may be recorded on a property to:
- In Washington, a prospective commercial tenant conducting pre-lease due diligence should review which document to assess prior environmental use of the property?
- A Washington property owner discovers petroleum contamination from an underground storage tank that predates their ownership. Under MTCA (Model Toxics Control Act), the owner:
- A Washington commercial property is located in a FEMA-designated Special Flood Hazard Area. Federal law requires the buyer to:
- A Washington State Environmental Policy Act (SEPA) checklist is required for which of the following proposed actions?
- What does a Phase I Environmental Site Assessment (ESA) primarily involve?
- Asbestos-containing materials (ACM) in a building are generally considered most hazardous when they are:
- Under Washington State's SEPA, what triggers a Determination of Significance (DS) rather than a MDNS or DNS?
- Washington's Shoreline Management Act (SMA) applies to shorelines of which of the following water bodies?
- Lead-based paint disclosure requirements under the Residential Lead-Based Paint Hazard Reduction Act (42 U.S.C. 4852d) apply to the sale or lease of housing built:
- A Washington commercial property owner discovers PCBs (polychlorinated biphenyls) in old electrical equipment on-site. The owner must:
- A Washington property near a former dry-cleaning operation may contain which hazardous chemical contamination?
- A Washington State Department of Ecology 'No Further Action' (NFA) letter for a contaminated site means:
- Under the Washington State Energy Code (WSEC), new residential construction must meet energy efficiency standards primarily to:
- A Washington homebuyer discovers that the neighborhood has elevated radon levels during a home inspection. Radon mitigation in Washington typically involves:
- Washington's Clean Air Act (RCW 70A.15) and local air quality agencies regulate which of the following activities related to real estate?
- In Washington, a property owner near a stream wants to install a culvert to allow vehicle access across the stream. This activity requires a permit from:
- A Washington real estate licensee's buyer client wants to purchase a property adjacent to a Superfund (CERCLA) site. The licensee should:
- Under Washington law, a property seller must disclose to buyers the presence of a registered underground storage tank (UST) on the property. This requirement falls under:
- A Washington seller must provide buyers with a Natural Hazard Disclosure if the property is in a:
- A Washington developer proposes to fill a wetland for a commercial project. Under Section 404 of the Clean Water Act, the developer must obtain a permit from:
- Washington State's Growth Management Act requires counties to protect against development in 'critical areas.' Which of the following is NOT listed as a critical area under RCW 36.70A.030?
- A Washington property owner discovers petroleum contamination from heating oil that pre-dates their ownership. Under Washington's MTCA (RCW 70A.305), the property owner's potential liability is:
- Carbon monoxide (CO) detectors are required in Washington residential rental properties primarily because CO is:
- A Washington property's soil test reveals elevated arsenic levels. In Washington, arsenic contamination in soil is most commonly associated with:
- Volatile organic compounds (VOCs) are common indoor air quality concerns in newer Washington homes primarily because of:
- A Washington property owner living near the Hanford Nuclear Reservation should be aware that this federal site has:
- Washington State's Department of Ecology regulates shorelines under the Shoreline Management Act. The 'shoreline jurisdiction' typically extends how far inland from the ordinary high water mark?
- A Washington commercial property developer wants to build near a wetland and must mitigate the impact. Which of the following is NOT a typical wetland mitigation approach?
- A Washington property buyer learns from a neighbor that the seller disposed of old paint solvents on the property 10 years ago. This information is a:
- A Washington homebuyer notices a brownish staining on the basement floor consistent with oil. The appropriate next step is:
- A Washington homeowner wants to remove asbestos-containing insulation from their attic. Washington law requires this work to be performed by:
- Washington's Puget Sound region has experienced declining water quality from stormwater runoff. Real estate developers are typically required to implement Low Impact Development (LID) techniques to address this. LID techniques include:
- A Washington buyer's inspector finds evidence of galvanized steel pipes in a 1955 home. The inspector should note that galvanized pipes:
- Washington State's Department of Ecology has designated a property as a 'Confirmed and Contaminated Site' on the Hazardous Sites List. A real estate licensee representing a buyer of adjacent property should:
- Washington State's Shoreline Management Act requires a 'no net loss' standard for shoreline ecological functions. This means:
- A Washington residential property is located near a former industrial site that used to manufacture batteries. The most likely environmental concern is:
- A Washington buyer is purchasing a property with an on-site septic system. Prior to purchase, the buyer should request:
- A Washington property listed for sale was formerly used as an auto repair shop. A prospective buyer should be concerned about potential contamination from:
- A Washington seller's disclosure form asks about the presence of a well on the property. The seller failed to disclose an abandoned well in the backyard. Under Washington law, undisclosed abandoned wells:
- A commercial real estate developer in Washington wants to develop on a brownfield site (formerly contaminated industrial land). State and federal programs to encourage brownfield redevelopment include:
- A Washington property has a well for drinking water and the buyer wants to test the water quality. Which government agency in Washington provides information and standards for private well water quality?
- A Washington developer is building near a protected salmon stream. Under Washington's Hydraulic Code and the Endangered Species Act, the developer must:
- A Washington buyer is purchasing lakefront property on Lake Sammamish. An important disclosure related to this location is whether the property's sewage disposal complies with:
- A Washington landlord is renovating a pre-1978 rental property with paint that has tested positive for lead-based paint. Federal RRP (Renovation, Repair, and Painting) regulations require the landlord to:
- Washington State adopted PFAS (per- and polyfluoroalkyl substances) regulations because these 'forever chemicals' are associated with which primary environmental and health concerns?
Property Valuation
115 questions- A Washington appraiser values an income property with an NOI of $60,000 and applies a 7.5% capitalization rate. What is the indicated value?
- Economic obsolescence (external obsolescence) in property valuation is caused by:
- The sales comparison approach adjusts the sale prices of comparable properties for differences with the subject property. If a comparable sold for $500,000 and has a feature the subject lacks, the appraiser should:
- In Washington, the assessed value for property tax purposes is typically:
- The three approaches to value used by Washington appraisers are:
- In Washington, the cost approach to value is most reliable for appraising:
- Effective age differs from actual age in appraisal because:
- A Washington appraiser uses the gross rent multiplier (GRM) method. A small rental property has a monthly rent of $2,500 and the GRM for the area is 150. The indicated value is:
- In Washington, USPAP (Uniform Standards of Professional Appraisal Practice) governs appraisers because:
- Functional obsolescence in a Washington residential property is best illustrated by:
- Reconciliation in a Washington appraisal report means:
- A Washington property's land value is $120,000 and the building's depreciated value is $280,000. Under the cost approach, the indicated value is:
- Washington county assessors must complete a physical inspection of all real property at least once every:
- In Washington's Puget Sound market, the primary driver affecting residential property values compared to other Washington markets is:
- In Washington appraisal practice, 'market value' is defined as the most probable price a property would bring in:
- In the cost approach, the term 'reproduction cost' means:
- The principle of substitution in real estate valuation states that:
- A Washington apartment building has an NOI of $90,000 and sells for $1,200,000. What cap rate does this represent?
- Plottage (or assemblage) in Washington real estate refers to:
- In Washington, an appraiser using the sales comparison approach makes an upward adjustment to a comparable when:
- The principle of contribution in real estate valuation states that:
- Under the income approach, a vacancy and collection loss allowance is deducted from potential gross income to account for:
- In Washington, a broker's price opinion (BPO) differs from an appraisal because:
- The principle of anticipation in Washington real estate valuation holds that:
- A Washington appraiser assigns a final value of $525,000 after completing the sales comparison, cost, and income approaches. The final value is called the:
- When appraising a single-family home in Seattle, an appraiser would give the MOST weight to the:
- In Washington, a 'paired sales analysis' in the sales comparison approach is used to:
- The Washington Department of Revenue uses what method to verify real estate sale prices for REET calculation?
- In Washington, a 'drive-by appraisal' or 'exterior-only appraisal' is typically used for:
- A Washington assessor revalues all properties annually by statute. For residential properties, the standard assessment should be at what percentage of fair market value?
- In Washington, a property owner who believes their property is over-assessed may appeal to the:
- Washington's senior citizens and disabled persons are eligible for property tax exemptions under the Senior Citizen/Disabled Persons Exemption program if they meet which primary requirement?
- In Washington, a 'pocket listing' or off-market sale may affect the accuracy of comparable sales data because:
- The gross income multiplier (GIM) method of valuation uses which time period for income?
- In Washington, the highest and best use (HBU) analysis must satisfy all of the following criteria EXCEPT:
- In a Washington appraisal, 'time adjustments' are made to comparable sales to account for:
- In Washington, the 'income capitalization' approach is most appropriate for which type of property?
- In Washington, a 'before and after' appraisal is used in eminent domain proceedings to determine:
- In Washington, a residential appraiser's 'neighborhood analysis' in an appraisal report should address:
- In Washington, the 'cost to cure' method of depreciation applies to which type of depreciation?
- In Washington, a 'limited appraisal' differs from a 'complete appraisal' in that it:
- In Washington, the 'market extraction method' is used by appraisers to determine:
- A Washington appraisal completed for a litigation purpose (e.g., a divorce proceeding) requires the appraiser to:
- In Washington, 'functional utility' as used in appraisal refers to:
- In Washington, an appraiser analyzing a high-end residential property in Medina or Mercer Island should be especially careful to:
- In Washington, an appraiser who develops a restricted use appraisal report (formerly 'restricted appraisal report') must include a notice that:
- In Washington, the 'land residual technique' is an income capitalization method used to value:
- In Washington, a broker competitive market analysis (CMA) is used primarily for:
- In Washington, a 'desk review' of an appraisal by a lender's review appraiser involves:
- In a Washington appraisal, 'gross living area' (GLA) typically excludes which areas?
- In Washington, which appraisal report form is used for standard single-family residential home appraisals for conventional lending purposes?
- In Washington, a residential appraiser who is appraising a property in a neighborhood undergoing 'gentrification' must account for:
- In Washington, an 'as-improved' appraisal provides a value estimate that reflects:
- In Washington, a 'stabilized value' appraisal for an income property is based on:
- In Washington, the income approach considers all of the following operating expenses EXCEPT:
- In Washington, the 'excess land' in a property appraisal refers to:
- In Washington, an appraisal for a federally related transaction (FHA, VA, conventional with Fannie/Freddie) must be performed by:
- A Washington appraiser developing the sales comparison approach must ensure that each comparable sale is:
- In Washington, the 'cost to cure' in a property appraisal is always less than or equal to:
- Washington appraiser licensing levels include all of the following EXCEPT:
- A Washington commercial real estate investor uses a 'debt coverage ratio' (DCR) to evaluate a property. A DCR of 1.25 means the NOI is:
- In Washington, the Washington Center for Real Estate Research (WCRER) publishes housing market data that is useful for:
- In Washington, when an appraiser is asked to value a property 'as of' a specific past date, this is called a:
- In Washington, the market value of a property that is subject to long-term below-market leases is likely:
- In Washington, an appraiser's scope of work is determined by:
- In Washington, the effective age of a building with an actual age of 20 years but in excellent condition with many upgrades might be:
- In Washington, the 'absorption rate' is used by appraisers and real estate professionals to measure:
- In Washington, which of the following is NOT a function of the county assessor?
- In Washington, a 'fee simple' value and a 'leased fee' value of the same property may differ because:
- In Washington, an appraiser who discovers evidence of recent sales manipulation in the comparables data should:
- In Washington, a residential property's 'replacement cost new' (RCN) is best estimated using which method for an appraiser?
- An appraiser in Spokane is using the cost approach for a 25-year-old commercial building. The building has an effective age of 20 years and an economic life of 50 years. What is the accrued depreciation percentage?
- Which appraisal approach is typically considered most reliable for valuing a single-family residence in a suburban Seattle neighborhood with many recent comparable sales?
- An appraiser is using the income approach to value a 10-unit apartment building in Olympia. Annual gross rents total $144,000, vacancy and collection loss is 5%, and operating expenses are $52,000. What is the NOI?
- In the sales comparison approach, an appraiser in Tacoma makes a $5,000 upward adjustment to a comparable for a feature the subject has but the comparable lacks. This means:
- The principle that real property value is determined by the anticipated future benefits (income, utility, or amenities) it will provide is known as:
- A commercial real estate appraiser is analyzing a 20,000 sq ft retail center with a GRM of 8.5. Annual gross rents are $240,000. What is the indicated value using the GRM?
- The principle of progression states that the value of an inferior property is:
- In the income approach to value, the capitalization rate is derived from:
- An appraiser making an 'as-is' appraisal of a Washington property values it at $340,000 as of the inspection date. This means:
- An appraiser conducting an exterior-only 'drive-by' appraisal (Form 2055) must note in the report that:
- In highest and best use analysis, which test does NOT need to be met?
- The term 'functional obsolescence' in a property appraisal refers to:
- An appraiser values a property and uses three comparable sales. The adjusted values are $385,000, $392,000, and $378,000. The appraiser gives greatest weight to the comparable with the fewest adjustments. The comp with the fewest adjustments has an adjusted value of $392,000. What value does the appraiser most likely conclude?
- When using the cost approach, an appraiser estimates the cost to replace a building with a similar building using current materials and construction methods. This is called:
- Which appraisal report format provides the most limited information and is typically used for simple, low-risk assignments?
- A Washington appraiser is preparing an appraisal for a federally related loan transaction. The appraiser must comply with:
- An appraiser in the Puget Sound region is reconciling three approaches to value: cost approach = $510,000, sales comparison approach = $495,000, income approach = $480,000. For a single-family residence, the appraiser should give primary weight to:
- An appraiser is asked to provide a 'retrospective appraisal' of a Washington property. This means the appraisal:
- An appraiser describes a comparable sale as a 'distressed sale' or 'non-arm's-length transaction.' Why might the appraiser give this sale less weight?
- When an appraiser applies the income approach to a commercial property, the Net Operating Income (NOI) is calculated BEFORE deducting:
- A Washington commercial property with a tenant-in-common ownership structure is being valued for a 1031 exchange. The appraiser must value:
- Under USPAP, a Washington appraiser who is related to the property owner by marriage should:
- An appraiser in Spokane is valuing a gas station site. The most appropriate appraisal approach is typically:
- A Washington appraiser is appraising a property for estate tax purposes. The relevant value standard is:
- An appraiser notes that a Tacoma neighborhood has experienced significant economic decline, with empty storefronts and declining rents. This type of depreciation affecting the subject property is:
- The term 'reconciliation' in an appraisal report refers to:
- In the cost approach, the cost to construct a new building is estimated at $2,200,000. The appraiser determines accrued depreciation of 35%. The land value is $400,000. What is the indicated value using the cost approach?
- The term 'effective gross income' in a property appraisal means:
- When appraising a Washington property using the direct capitalization method, the cap rate is applied to which figure?
- A Washington appraiser is preparing an appraisal for a buyer getting an FHA loan. The appraiser notices missing handrails, a broken window, and peeling paint. The appraiser will:
- An appraiser in Olympia is asked to prepare a 'desk appraisal' or 'desktop appraisal.' This type of appraisal:
- An appraiser is asked to provide an opinion of value for an unusual specialty property — a church — in Seattle. The most challenging aspect of this appraisal is typically:
- An appraiser uses the income approach to value a net-leased retail property in Kirkland. The tenant pays all operating expenses. In this case, the cap rate is applied to:
- When appraising a historic Craftsman bungalow in Seattle's Capitol Hill neighborhood, an appraiser should consider the premium buyers may pay for:
- An appraiser studying market conditions in Tacoma notes that residential properties are selling in less than 7 days with multiple offers. This market condition is described as a:
- An appraiser finds three comparable sales in Olympia: Comp A sold for $410,000 (3 months ago, inferior condition), Comp B sold for $420,000 (6 months ago, similar), Comp C sold for $415,000 (1 month ago, superior condition). The appraiser should give primary weight to:
- An appraiser notes that a newly built 6,000 sq ft single-family home is located in a neighborhood of 1,500–2,000 sq ft homes. The large home likely suffers from:
- An appraiser reviewing a commercial property's rent roll notices that several leases are at below-market contract rents. The appraiser may account for this by:
- The principle of substitution states that a buyer will pay no more for a property than the cost of acquiring an equally desirable substitute. This principle:
- A Washington property has unusual characteristics that make it difficult to find comparable sales. The appraiser has three approaches to value that yield widely different results. In the final reconciliation, the appraiser should:
- An appraiser for a Washington bank is appraising a small apartment building that the borrower claims is worth $1.2 million. The appraiser's independent analysis indicates a value of $950,000. Under USPAP, the appraiser must:
- Under USPAP Standards Rule 1-1, a Washington appraiser is responsible for:
- A Washington appraiser encounters a property that was recently sold between related parties (family members) at a price that is 30% below market value. Under USPAP, the appraiser should:
- A Washington residential appraiser is reviewing an automated valuation model (AVM) output for a property. The appraiser should treat AVM values as:
Land Use & Zoning
113 questions- Washington's Growth Management Act (GMA) requires cities and counties to:
- A Washington property owner wants to use their residentially zoned property as a day care center. They would need to apply for a:
- A Washington property that was legally operating as a commercial business before a new residential zoning ordinance was enacted may continue as:
- A Washington property owner believes the zoning ordinance as applied to their property causes an undue hardship unique to their parcel. They should apply for a:
- Washington's GMA requires counties to designate and protect which of the following?
- A Washington city's comprehensive plan under the GMA must include:
- Eminent domain allows the Washington state or local government to take private property for public use. The owner is entitled to:
- Spot zoning in Washington refers to:
- A Washington developer wants to build a mixed-use development with a combination of residential and commercial uses under a unified plan. They should apply for:
- A Washington property's deed shows a 20-foot building setback from the front property line. This limitation on where the owner can build is:
- In Washington, a developer who subdivides land into five or more lots for residential use must file a:
- A Washington county adopts a shoreline master program as required by the Shoreline Management Act. This program:
- A Washington building permit is required for which of the following construction activities?
- An 'infill development' in Washington's urban areas refers to:
- Washington's Growth Management Act identifies 'urban growth areas' (UGAs). Development outside UGAs is generally:
- A Washington property in a flood zone designated as 'Zone AE' on a FEMA flood map:
- In Washington, a 'design review' process required by many cities for new development primarily evaluates:
- Washington's Growth Management Act requires counties and cities to designate and conserve:
- An 'accessory dwelling unit' (ADU) in Washington is:
- In Washington, building codes are primarily enforced by:
- A Washington municipality's general plan or comprehensive plan serves as:
- In Washington, a 'critical areas ordinance' (CAO) required under the GMA protects which types of areas?
- In Washington, a 'buffer' required by a critical areas ordinance serves to:
- In Washington, a developer who disagrees with a local land use decision may appeal to the:
- Washington's State Environmental Policy Act (SEPA) requires that before a development permit is issued, the lead agency must determine:
- In Washington, a 'shoreline substantial development permit' is required for projects costing more than a threshold amount within the shoreline jurisdiction. The current threshold is approximately:
- A Washington county's critical areas ordinance designates a wetland buffer zone of 50 feet. A property owner may:
- Washington's Puget Sound Regional Council (PSRC) is responsible for:
- In Washington, a 'taking' (regulatory taking) occurs when government regulation goes too far and must pay compensation. This concept relates to:
- Washington's State Building Code Council adopts which model code as the basis for Washington's construction standards?
- A Washington county planning commission recommends a change to the comprehensive plan. Final approval is made by the:
- A Washington city rezones a property from residential to commercial use to benefit one developer. Neighboring property owners may challenge this as:
- In Washington, 'inclusionary zoning' refers to local requirements that:
- Washington cities like Seattle and Tacoma have adopted 'upzoning' policies to address housing affordability. Upzoning means:
- In Washington, an 'impact fee' charged to developers for new development:
- Washington's Urban Growth Areas (UGAs) must be sized to accommodate projected growth for at least:
- In Washington, a developer who wants to build apartments on land currently zoned for single-family use must apply for a:
- Washington's Buildable Lands Program, required under the GMA for certain counties, monitors:
- A Washington county's Agricultural Lands designation under the GMA protects farmland by:
- A Washington city adopts a 'transfer of development rights' (TDR) program. This allows:
- A Washington developer proposes a 500-unit residential development. Under SEPA, the developer must:
- In Washington, a 'development agreement' between a developer and a local government:
- A Washington property in a 'mixed-use zone' allows:
- In Washington, a 'right of way' granted to a railroad through a property creates:
- Washington's 'adequacy of public facilities' (concurrency) requirement under the GMA means that:
- In Washington, an 'overlay zone' is:
- In Washington, a 'density bonus' in zoning incentivizes developers by:
- Washington's Shoreline Management Act creates three types of shoreline environments for permitting purposes. A 'rural' shoreline environment designation generally allows:
- In Washington, 'interim zoning' may be adopted by a local government to:
- A Washington property owner whose land is condemned for a public project but not all of the property is taken may receive 'severance damages' for:
- Washington's Short Subdivision (Short Plat) process applies to subdivisions of:
- In Washington, a 'sensitive area' setback required by a local critical areas ordinance differs from a zoning setback in that:
- In Washington, a 'master plan development' or 'master planned development' allows a developer to:
- Washington's Shoreline Management Act exempts which types of development from the shoreline substantial development permit requirement?
- In Washington, a 'transit-oriented development' (TOD) zone near a light rail station typically allows:
- In Washington, a 'Binding Site Plan' is a land division tool commonly used for:
- In Washington, a 'design review board' typically reviews proposals based on their compliance with:
- In Washington, 'housing urban growth' outside of Urban Growth Areas is generally:
- In Washington, a property owner who has a legal nonconforming structure may generally continue to use and maintain it, but may NOT:
- In Washington, a 'landscape buffer' requirement in a development project serves to:
- Washington's Housing Action Plan legislation encourages cities to:
- In Washington, a 'Shoreline Conditional Use Permit' is required for uses that:
- Washington's GMA requires counties adjacent to counties experiencing rapid growth to adopt which planning elements?
- In Washington, a 'moratoria' on development approvals imposed by a local government is valid if:
- Washington's 'Middle Housing' legislation (HB 1110) passed in 2023 requires cities above a certain population to:
- Washington's County Road Administration Board (CRAB) provides technical assistance to county road programs. This is relevant to real estate because:
- Washington's 'planned action' under SEPA allows local governments to:
- In Washington, an 'annexation' occurs when:
- In Washington, a 'view protection ordinance' in a shoreline community may restrict:
- Under Washington's Growth Management Act, which of the following counties is REQUIRED to plan under the GMA?
- A property in Bellevue is located in a zone that permits single-family residential use. The owner wants to operate a licensed daycare for up to 6 children. Under Washington law, this use:
- A nonconforming use in Spokane is destroyed by fire to more than 75% of its value. Under typical Washington municipal zoning ordinances, the owner:
- A developer in Redmond seeks approval to build a mixed-use development that exceeds the allowed building height. The developer should apply for:
- A Washington city's comprehensive plan designates an area for mixed-use development. A property owner wants to build a use not yet allowed by the zoning code. The property owner should request:
- What is the legal doctrine that protects a property owner's right to continue a use that was lawful when established but no longer conforms to current zoning?
- A Washington property owner wants to use their property for a use specifically listed as requiring a conditional use permit. The owner must demonstrate to the reviewing body that the use:
- A Washington developer wants to build a large residential subdivision. The city requires the developer to dedicate land for parks and roads. This requirement is known as:
- What is the primary purpose of Washington's Urban Growth Area (UGA) designations under the Growth Management Act?
- A Washington city downzones an agricultural property from rural residential to conservation-only, preventing any development. The landowner may argue this constitutes:
- A Washington municipality wants to restrict development near a scenic highway to preserve viewsheds. This type of regulation is an example of:
- A Washington city's critical areas ordinance (CAO) designates wetlands on a property. Development restrictions in the CAO may require the property owner to:
- A Washington property owner applies for a building permit and is denied because the proposed building doesn't comply with current setback requirements. The owner has had the property for 30 years. The owner should apply for:
- A Washington developer wants to build a marina and boat launch on shoreline property. This project requires approval under:
- Under Washington's GMA, a county is required to designate and protect which of the following as 'resource lands'?
- Washington's Shoreline Management Act categorizes shorelines into different environment designations. A 'Shoreline Residential' designation is intended for:
- A Washington property owner has a nonconforming structure that is destroyed by fire. The structure exceeded the current height limit by 5 feet. The owner wants to rebuild identically. Under most Washington municipal codes, the owner:
- A Washington property is zoned for residential use. The owner wants to add an Accessory Dwelling Unit (ADU). Under a 2023 Washington State law (SB 5235), cities and counties:
- A Washington property is in a Planned Unit Development (PUD). PUDs typically allow:
- A Washington developer proposes a large mixed-use project that will significantly impact local roads, schools, and parks. The local government may require the developer to pay:
- A Washington property owner's parcel is bisected by a proposed city road expansion that would take 20% of the property. The city must compensate the owner under:
- Washington State passed legislation (SB 5290) requiring cities with populations over a certain threshold to allow 'middle housing' types. This legislation is intended to:
- A Washington city wants to preserve the character of a historic downtown district. The appropriate regulatory mechanism is:
- A Washington city council adopts a moratorium on new development permits in a certain area while conducting a comprehensive plan update. The moratorium must generally be:
- Under Washington law, a property owner has 'vested rights' to develop under prior zoning regulations if they have:
- A Washington municipality issues a 'determination of non-significance' (DNS) under SEPA for a proposed development. This determination means:
- A Washington county's shoreline master program (SMP) is a local policy document that must be consistent with:
- A Washington city wants to encourage mixed-income housing development near a light rail station. One tool the city can use to incentivize inclusion of affordable units is:
- Washington's Building Code (RCW 19.27) establishes minimum construction standards. Local jurisdictions may:
- A Washington developer wants to develop a mixed-use building in a downtown core. The proposed project exceeds building heights allowed by right but is consistent with the comprehensive plan's vision for the area. The developer should apply for:
- A Washington county's critical areas ordinance designates a portion of a parcel as a fish and wildlife habitat conservation area. Development within this designation may be:
- A Washington property is designated as 'commercial' in the zoning map. The owner wants to understand exactly what uses are permitted. They should consult:
- A Washington city wants to restrict the hours that a nightclub in a mixed-use zone can operate. This type of regulation is called a:
- A Washington property is subject to both county zoning and a state agency permit requirement. If the state permit is more restrictive than county zoning, which standard applies?
- Washington State passed legislation requiring local governments to zone sufficient land for projected 20-year population growth. When a city's EIS for a comprehensive plan update shows a growth shortfall, the city must:
- Washington's State Environmental Policy Act (SEPA) categorical exemptions allow certain small projects to proceed without a SEPA threshold determination. Which of the following is typically categorically exempt under SEPA?
- A Washington community is concerned about the impact of a proposed large retail store on local traffic. The local government's primary tool for analyzing and addressing these impacts is:
- A Washington property owner wants to install a large commercial sign on their property. Sign regulations in Washington are generally found in:
- A Washington city's zoning code includes a 'form-based code' for a downtown district. Form-based codes regulate:
- A developer in Bellevue proposes a 15-story mixed-use tower with ground-floor retail and upper-floor residential. This type of development is an example of:
- A Washington city adopts an 'inclusionary zoning' ordinance requiring residential developers to include a percentage of affordable units. This type of ordinance:
- Washington's annexation laws allow cities to annex adjacent unincorporated land. Before annexing land, a city must typically demonstrate that the annexation area:
- A Washington city's transit-oriented development (TOD) plan designates high-density mixed-use zoning within 1/4 mile of light rail stations. What is the primary policy goal of TOD?
- A Washington municipality adopts a 'transfer of development rights' (TDR) program. Under a TDR program:
Contracts
111 questions- The standard real estate purchase and sale agreement used in Washington State is commonly known as:
- In Washington State, an earnest money agreement is legally binding when:
- A Washington seller accepts the buyer's offer but changes the closing date. This is legally:
- In Washington, the financing contingency in a purchase and sale agreement typically allows the buyer to:
- Under Washington contract law, specific performance is a remedy typically sought when:
- A Washington buyer discovers after signing a purchase agreement that the seller made a material misrepresentation. The buyer's remedy may include:
- In Washington, an offer to purchase real property must be in writing to be enforceable under the:
- A buyer submits an offer with an earnest money check of $10,000. The seller's broker must:
- A Washington purchase and sale agreement includes an inspection contingency. The buyer's inspection reveals a cracked foundation. The buyer may:
- A Washington seller receives two offers simultaneously. The seller may legally:
- In Washington, time is of the essence clauses in purchase agreements mean:
- Under Washington law, mutual mistake in a real estate contract may:
- A Washington buyer's offer states that the seller must respond by 5 pm Friday. At 6 pm Friday the seller accepts. The buyer then refuses to proceed. Who is correct?
- In Washington, an option contract gives the optionee the:
- A Washington land installment contract (contract for deed) differs from a standard sale because:
- A Washington purchase agreement requires earnest money forfeiture as liquidated damages. If the buyer defaults, the seller's remedy is limited to:
- A Washington purchase agreement has a 10-day inspection contingency. On day 11, the buyer attempts to rescind based on the inspection. The seller may:
- In Washington, the seller's obligation under a purchase agreement is described as:
- A Washington seller accepts an offer and then discovers a higher offer was submitted 30 minutes later. The seller may:
- In Washington, the integration clause (merger clause) in a purchase agreement means:
- A Washington buyer wants to purchase a home contingent on the sale of their current home. The seller may include a 'bump clause' (right to continue marketing clause), which means:
- In Washington, a purchase agreement that is unenforceable differs from one that is void in that:
- In Washington, consideration in a real estate purchase contract is most commonly:
- In Washington, an assignment of a purchase agreement transfers:
- Under Washington contract law, novation in a real estate context means:
- Under Washington law, a contract entered into by a person who has been declared legally incompetent by a court is:
- A Washington purchase agreement is rescinded by mutual agreement before closing. The parties' rights and obligations:
- In Washington, a listing agreement creates a contractual relationship between the seller and the:
- A Washington home buyer has a 5-day due diligence review right before a contingency is effective. If the 5th day falls on a Sunday, the review period ends on:
- In Washington, the seller's disclosure statement (Form 17) is NOT required for which type of transaction?
- In Washington, a purchase agreement's 'as is' clause means the buyer:
- A Washington commercial lease is described as 'for a term of 5 years commencing November 1, 2025 at $8,500 per month with 3% annual escalations.' This type of escalation clause is called a:
- Under Washington's statute of limitations, a breach of written contract claim must be brought within:
- A Washington purchase agreement includes a 'hold harmless' clause in favor of the broker. This clause attempts to protect the broker from liability for:
- A Washington purchase agreement requires both parties to mediate disputes before litigation. Such a provision is:
- In Washington, an addendum to a purchase agreement must be:
- A Washington buyer and seller agree verbally to modify the closing date by one week. To be legally enforceable, this modification must be:
- In Washington, which element is NOT required for a valid real estate contract?
- In Washington, a buyer exercises their due diligence contingency and terminates the purchase agreement within the due diligence period. The earnest money is:
- In Washington, 'parol evidence' in a real estate contract dispute refers to:
- A Washington purchase agreement specifies that the buyer will receive possession at closing. The seller requests to remain in the property for 30 days after closing under a 'seller rent-back agreement.' This arrangement:
- In Washington, if a seller's agent presents a buyer's offer to the seller and the seller makes changes but also crosses out a contingency, this creates:
- A Washington listing agreement that does not have an expiration date is:
- In Washington, a 'backup offer' accepted by the seller while the primary offer is pending:
- Under Washington law, a real estate purchase agreement signed by a minor (under 18) is:
- A Washington seller and buyer enter into a purchase agreement with a home sale contingency. The seller receives a second offer and issues a notice to perform under the bump clause. The buyer has 3 business days to:
- A Washington 'as is' purchase requires the buyer to accept the property in its current condition. The seller still has a legal obligation to:
- In Washington, when a real estate contract does not specify which party bears the risk of loss if the property is destroyed before closing, the Uniform Vendor and Purchaser Risk Act provides that:
- In Washington, a buyer who uses their inspection contingency to terminate the contract after discovering a minor crack in a windowsill may:
- A Washington purchase agreement included an environmental contingency allowing the buyer 15 days to review an environmental report. On day 14, the buyer receives a Phase I ESA showing a recognized environmental condition. The buyer may:
- In Washington, 'accord and satisfaction' in a real estate contract context means:
- In Washington, a contract that contains an 'arbitration clause' means that disputes between the parties must be:
- In Washington, a lease with an option to purchase gives the tenant:
- A Washington purchase agreement is executed on Monday. The seller gives the buyer until Thursday at 5 PM to respond to a counter. The buyer calls at 4:59 PM Thursday to accept verbally. This creates:
- In Washington, a seller who makes a material misrepresentation in the seller disclosure statement (Form 17) may be liable for:
- Under Washington contract law, a 'void' contract differs from a 'voidable' contract in that a void contract:
- In Washington, a purchase agreement for the purchase of a newly constructed home from a builder typically includes a 'new construction addendum' that addresses:
- A Washington seller signs a listing agreement that expires in 90 days. After 95 days, with no sale, the seller wants to list with a new broker. Under the expired listing agreement, the original broker:
- A Washington purchase agreement states 'closing on or before October 15.' The buyer is ready but the seller needs until October 20. If the parties don't modify the agreement in writing, the buyer may:
- In Washington, a condominium purchase agreement must include a contingency allowing the buyer to review the:
- A Washington purchase and sale agreement specifies that 'time is of the essence.' On the final day of the financing contingency, the buyer's lender denies the loan. The buyer notifies the seller the next morning. The contingency:
- In Washington, an 'earnest money addendum' or 'earnest money agreement' is often used as the initial document in a real estate transaction to:
- Under Washington contract law, if a seller accepts a buyer's offer after the stated expiration date without communicating a counter-offer, the result is:
- A Washington purchase and sale agreement includes an inspection contingency that states the buyer must notify the seller within 10 days. The buyer fails to notify within the deadline. The contingency is:
- Under Washington law, which of the following is a valid way to discharge a contract?
- Under Washington law, a real estate purchase and sale agreement for real property must be in writing to be enforceable under:
- In Washington, a buyer submits an offer with a 72-hour bump clause. The seller then accepts a back-up offer with a 72-hour notice period. The first buyer receives the notice. The first buyer must:
- A Washington real estate contract is silent on attorney's fees. If a party must sue to enforce the contract and wins, can they recover attorney's fees?
- A Washington purchase and sale agreement contains a liquidated damages clause specifying that the earnest money is the seller's sole remedy if the buyer defaults. If the buyer defaults, the seller may:
- A Washington lease requires the tenant to give 30 days written notice before vacating. The tenant gives 20 days verbal notice and moves out. The landlord can:
- Under Washington law, a real estate sales contract where the buyer makes payments directly to the seller over time, and the seller retains legal title until the contract is paid off, is called:
- A Washington buyer and seller have a fully executed purchase and sale agreement. The seller then receives a higher offer. The seller can legally:
- A buyer in Washington includes a home sale contingency in a purchase offer. This contingency means:
- A Washington purchase and sale agreement is contingent on the buyer obtaining financing at a specific interest rate. The buyer cannot obtain a loan at that rate. The buyer should:
- In Washington, which party typically prepares the purchase and sale agreement?
- A buyer makes an offer on a Washington property. The seller makes a counteroffer changing the price. The buyer then makes a second counteroffer changing the closing date. At this point, which offer is on the table?
- Under Washington law, which of the following best describes the parol evidence rule as applied to real estate contracts?
- A Washington real estate purchase and sale agreement uses the NWMLS standard form. A buyer's agent wants to add a special clause. The proper way to do this is to:
- A Washington seller discloses a leaking roof on the seller disclosure statement (Form 17). The buyer proceeds with the purchase. The roof begins leaking again after closing. The seller's disclosure:
- A Washington seller's disclosure statement (Form 17) is required for which of the following transactions?
- A Washington purchase and sale agreement is signed by the buyer but not yet by the seller. What is the legal status of the document?
- A Washington buyer receives the seller's signed acceptance by email at 3:00 PM. The acceptance was emailed by the seller's agent at 2:00 PM. When was the contract formed?
- A Washington buyer has a 10-day inspection contingency in their purchase and sale agreement. On day 8, the inspector finds minor cosmetic issues only. The buyer decides they no longer want the property for personal reasons. The buyer may:
- Under Washington law, an option to purchase real estate is most accurately described as:
- In Washington, the Real Estate Purchase and Sale Agreement (Form 21) developed by NWMLS includes an addendum for which common transaction type?
- A Washington seller's disclosure statement (Form 17) is delivered to the buyer after the purchase and sale agreement is signed. Under RCW 64.06, the buyer has how many business days to rescind the agreement based on the disclosure statement?
- A Washington commercial lease requires the tenant to provide 6 months' notice of intent to renew. The tenant forgets and gives only 3 months' notice. The landlord may:
- A Washington buyer submits an offer that is contingent on the appraisal meeting or exceeding the purchase price. The property appraises at $15,000 below the purchase price. The buyer may:
- Under Washington law, a minor (person under 18) who signs a real estate purchase and sale agreement has entered into a contract that is:
- A Washington buyer and seller agree to extend the closing date by 10 days due to lender delays. This modification to the purchase and sale agreement should be:
- A Washington home inspection reveals significant foundation issues estimated at $45,000 to repair. The buyer and seller are unable to agree on who will pay. The buyer's best contractual option (assuming a proper inspection contingency) is to:
- A Washington seller has accepted an offer from Buyer A. Three days later, a higher offer comes in from Buyer B. The seller asks their agent to find a way to cancel the Buyer A contract. The agent should advise the seller that:
- A Washington seller's agent receives two identical offers at the same price and terms. The seller wants to choose between them. The agent's appropriate action is to:
- A Washington buyer submits an offer with a 5-day financing contingency. The lender needs 15 days. The buyer should:
- A Washington buyer purchases a home using seller financing with a land contract. The seller retains legal title. If the buyer defaults, the seller's remedy depends on whether they:
- A Washington buyer's offer includes a personal property list (refrigerator, washer, dryer). The seller accepts the offer but crosses off the dryer from the personal property list. This is:
- A Washington real estate contract specifies that 'time is of the essence.' What does this phrase mean?
- Under Washington law, a real estate purchase and sale agreement is considered 'fully executed' when:
- In Washington, a purchase and sale agreement that is signed by an agent 'for and on behalf of' the principal without written authorization is:
- A Washington buyer and seller have a purchase and sale agreement. The seller dies before closing. What typically happens to the contract?
- A Washington buyer submits an offer on a listed property. Before the seller responds, the buyer calls the agent and says they want to withdraw the offer. Under Washington law, the buyer may revoke the offer:
- A Washington buyer's offer includes an escalation clause that states: 'Buyer will pay $5,000 more than the highest competing bona fide offer up to a maximum of $600,000.' The seller receives competing offers at $550,000 and $560,000. With the escalation clause, the buyer's effective offer is:
- A Washington purchase and sale agreement requires the seller to provide a home warranty. The seller fails to purchase the warranty before closing. This is:
- A Washington buyer makes a written offer. Before the seller responds, the seller receives a verbal call from the buyer saying 'I'm increasing my offer by $10,000.' Is the verbal increase binding?
- A Washington purchase and sale agreement is subject to a 'kick-out clause.' This clause allows the seller to:
- A Washington buyer wants to include a clause in their offer saying the seller must move out within 2 days of closing. The seller counters to allow 7 days post-possession. The parties agree to 5 days post-possession. Under the contract, after closing, the seller's occupancy is governed by:
- A Washington seller receives three offers on the same day. Before responding to any offer, the seller learns one offer was submitted by a relative. The seller may:
- A Washington contract for the sale of a commercial building includes a 'due diligence period' of 30 days. During this period, what is the buyer typically entitled to do?
- A Washington buyer makes an all-cash offer with no financing contingency and no inspection contingency. This type of offer is described as:
- A Washington real estate lease for one year or less is generally:
- A Washington seller is under contract to sell their home. Before closing, the buyer discovers the seller has an active listing with another broker and claims breach of contract. The seller says 'it's just a backup.' Under Washington contract law, this situation:
Agency
110 questions- In Washington State, the law governing agency relationships in real estate is found in:
- Under Washington's Law of Real Estate Agency (RCW 18.86), a real estate broker owes all clients the duty of:
- In Washington, a buyer's agent owes the buyer the duty of:
- Washington's agency disclosure pamphlet 'The Law of Real Estate Agency' must be provided to buyers and sellers:
- In Washington, a dual agent must:
- An agency relationship in Washington is typically terminated by all of the following EXCEPT:
- Under RCW 18.86, which of the following is a duty owed exclusively to a seller-client (not to a buyer-customer)?
- A Washington buyer's broker shows the buyer a property listed by the same brokerage. If the brokerage represents both parties, this is:
- In Washington, a selling broker who has no written buyer representation agreement with the buyer is most likely acting as:
- In Washington, a listing broker's duty to disclose adverse material facts applies to:
- The Washington agency pamphlet 'The Law of Real Estate Agency' must be provided before:
- A Washington listing agreement is signed. Before the property is listed on the MLS, the seller tells the broker they need to sell within 30 days due to financial hardship. The broker must:
- When does a buyer agency relationship in Washington typically terminate?
- A Washington buyer's broker learns the buyer has a maximum budget of $700,000 but is offering $625,000. The broker must:
- Under Washington's Law of Real Estate Agency, a broker representing a seller must disclose to the buyer:
- Washington allows a brokerage to appoint one broker to represent the seller and a different broker to represent the buyer within the same transaction. This arrangement is called:
- In Washington, a seller's agent who knows the property has a cracked foundation hidden behind finished drywall must:
- A Washington broker acting as a buyer's agent learns the seller has priced the property significantly below market due to ignorance of recent sales. The buyer's agent should:
- Washington's agency law requires brokers to provide the agency disclosure pamphlet. When must this be done for a seller at a listing appointment?
- A Washington buyer's broker discovers the seller's property has an unreported sewer problem. Under RCW 18.86, the broker must:
- In Washington, a 'material fact' that a broker must disclose is one that:
- Under Washington's RCW 18.86, which parties must sign a written agency agreement to establish a buyer's agency relationship?
- A Washington broker who represents a buyer sees an in-house listing that could benefit the buyer. If the brokerage is in a dual agency situation, the broker must:
- Washington's statutory agency duties include which of the following duties owed to ALL parties (not just clients)?
- A Washington seller's agent is required to present all written offers to the seller:
- In Washington, a listing broker who inadvertently reveals the seller's minimum acceptable price to a buyer:
- Under Washington's agency law, 'obedience' as a fiduciary duty means the broker must:
- In Washington, a broker who represents neither the buyer nor the seller as a client (but assists both as customers) is acting as a:
- A Washington listing broker who knows the seller's property was used as a meth lab but fails to disclose this to buyers is:
- Washington's designated agency arrangement is beneficial because it allows:
- Under Washington law, a seller's agent who receives an offer is obligated to present it to the seller unless:
- In Washington, an agent who receives an offer for a property after a sale is pending must:
- Under Washington's Law of Real Estate Agency (RCW 18.86), a buyer's agent may NOT:
- Under Washington's RCW 18.86, a broker owes the duty of 'accounting' to their client. This means:
- A Washington listing broker who also works with the buyer on the same property without a separate buyer agency agreement most likely holds which position?
- A Washington buyer's agent presents an offer far below the list price. The listing agent must:
- A Washington buyer signs a buyer agency agreement with Broker A. The buyer then contacts Broker B without Broker A's knowledge. If Broker B assists the buyer in purchasing a property:
- In Washington, a buyer's broker who is also a licensed mortgage broker refers the buyer to obtain a mortgage from their own mortgage company. They must:
- In Washington, an agent who 'puffs' about a property — saying it's 'the best house in the neighborhood' — is:
- A Washington seller's listing agreement expires without a sale. The seller then sells the property directly to a buyer the broker introduced during the listing period. Under the listing's 'safety clause' (extender clause), the broker may:
- In Washington, a listing broker who believes their seller client is making a serious financial mistake by rejecting an offer should:
- In Washington, a listing broker who maintains client confidentiality after closing is:
- In Washington, when a buyer uses a broker from the same firm as the listing broker, the firm is likely in a situation called:
- Under Washington's agency law, if both the buyer's and seller's brokers are from different firms and the buyer's broker is also the transaction's dual agent, the buyer's broker owes:
- In Washington, a 'gratuitous agent' is an agent who:
- Under Washington's RCW 18.86, which of the following duties does a seller's agent owe to a buyer-customer who is not the agent's client?
- A Washington broker representing a buyer finds a property where the listing broker is from a competing firm. What is the standard agency arrangement?
- In Washington, an agent who has a conflict of interest in a transaction must:
- In Washington, when may a broker unilaterally terminate a listing agreement?
- Under Washington's agency law, a seller who gives their broker authority to sign documents on their behalf has granted the broker which type of authority?
- In Washington, a seller's agent who learns their client is planning to defraud the buyer must:
- In Washington, when does a buyer's agency relationship begin?
- A Washington buyer's agent shows the buyer a FSBO (For Sale By Owner) property. For compensation, the agent would need to:
- In Washington, when a buyer's agent identifies issues with the property during a showing, they should:
- In Washington, a listing broker has a fiduciary duty to the seller to disclose:
- In Washington, a broker who has been representing a buyer finds out during negotiations that the seller has made a material misrepresentation on Form 17. The broker should:
- In Washington, a broker who represents multiple sellers in the same area must:
- A Washington buyer's agent receives notice that the seller's listed property has been found to contain asbestos in the attic insulation. The buyer's agent must:
- Washington's RCW 18.86 requires brokers to present 'all material facts' to clients. When does this duty apply?
- In Washington, a seller's 'exclusive right to sell' listing agreement means:
- A buyer's agent in Washington discovers information that the seller would consider material but the buyer would benefit from not disclosing. The agent's duty is to:
- In Washington, when does a licensee's agency relationship with a buyer typically begin?
- Under Washington's agency law, which of the following best describes 'ratification' of an agency relationship?
- A Washington seller hires two different brokers under two separate exclusive right to sell listings covering the same property. This arrangement is:
- A Washington listing agent learns that the seller is going through a divorce and must sell quickly at any price. Under Washington agency law, this information is:
- Under Washington's RCW 18.86, what is the minimum agency disclosure requirement when a licensee represents both buyer and seller in the same transaction?
- A Washington buyer's agent shows a property that the agent personally owns. The agent must:
- Under Washington law, a real estate licensee who has no representation agreement with a buyer but assists them in viewing properties is considered:
- A Washington real estate licensee represented the buyer in a transaction last year. The same client returns with a new property in mind. The licensee must:
- A Washington listing broker receives an offer that is lower than the listing price but is the best offer received after 60 days on market. The broker's duty to the seller is to:
- A Washington seller's agent discovers that the property has a significant foundation crack not disclosed on the seller disclosure statement. The agent's obligation is to:
- In a Washington in-company transaction, the designated broker must:
- A Washington broker who is a buyer's agent shows a property listed by their own firm. How should this in-company situation be handled?
- A Washington seller signs an exclusive right to sell listing agreement for 90 days. On day 75, a buyer contacts the seller directly without the agent's involvement. Under an exclusive right to sell agreement, if this buyer purchases the property:
- A Washington designated broker wants to represent both a buyer and seller in a transaction personally (not through different affiliated agents). This situation is called:
- A Washington real estate licensee discovers after closing that the seller had undisclosed structural damage that was concealed during the transaction. The buyer may have a claim against:
- A Washington buyer asks their agent whether the seller will take less than the listing price. The buyer's agent should:
- A Washington buyer's agent is representing a buyer who makes an offer on a property. The seller rejects the offer. The agent's obligation to the buyer continues until:
- A Washington listing broker representing the seller has a duty to present all offers to the seller. An exception to this duty may exist when:
- Under Washington agency law, the term 'subagency' in a real estate context traditionally referred to:
- In Washington, a seller's agent who receives an offer late on a Friday evening should:
- A Washington real estate firm has a buyer client looking for a rental investment property. The firm also manages properties for a property owner who is looking to sell. If the firm represents both buyer and seller, Washington law requires:
- A Washington buyer's agent has been showing a buyer properties for 3 months without a written representation agreement. The buyer finds a property and is ready to make an offer. At this point, the agent should:
- A Washington real estate agent is asked by their buyer client to write a low offer. The agent believes the offer is too low to be taken seriously. The agent should:
- A Washington seller refuses to sign a buyer's addendum but verbally tells their agent to 'tell the buyer we'll do it.' The agent relays the message. No written counter was signed. Is this a binding modification to the contract?
- A Washington real estate agent is buying a property from their own listing. This is called a:
- A Washington listing agent discovers during a showing that the buyer is represented by an out-of-state broker who is not licensed in Washington. The listing agent should:
- A Washington designated broker enters into a property management agreement with an owner. The designated broker then assigns a managing broker to oversee the property. In this context, the managing broker acts as:
- A Washington buyer's agent receives compensation from the seller (as is common in traditional MLS transactions). Does this compensation arrangement change the agent's legal duties to the buyer?
- A Washington seller's agent learns that the buyer's agent has disclosed the buyer's maximum budget ($650,000) to the listing agent. This disclosure:
- A Washington buyer's agent writes an offer on behalf of their client. The agent makes an error in the offer price (types $390,000 instead of the intended $380,000). This is a/an:
- A Washington designated broker wants to resign. What happens to the licenses of all affiliated brokers?
- A Washington real estate agent is showing a buyer a property that the agent suspects may have undisclosed mold, based on a musty smell and visible staining. The agent should:
- A Washington seller's agent advertises a property with a virtual tour but fails to disclose a major highway adjacent to the property in the advertising. A buyer who purchases after seeing only the virtual tour claims misrepresentation. The agent may be liable for:
- A Washington buyer's agent tells their client that a property listed for $550,000 recently had an offer for $510,000 that the seller rejected. The buyer then offers $530,000. The agent's action in sharing the prior offer information was:
- A Washington listing broker receives a written offer and verbally accepts on behalf of the seller without the seller's written authorization. This action is:
- A Washington seller's agent knows the seller's property has a HVAC system that is 25 years old and likely near end of life. The seller has not disclosed this. The agent should:
- When multiple Washington real estate licensees from the same firm represent competing buyers for the same property, the firm should:
- Under Washington agency law, an agent's authority to bind the principal can arise from three sources. Which of the following is NOT a recognized source of agent authority?
- A Washington seller's listing agreement expires before the property sells. Two weeks later, a buyer who was shown the property during the listing period makes an offer directly to the seller. Under typical listing agreement language, the listing broker may still be entitled to a commission if:
- In Washington, a real estate agent who provides services to a buyer without a written representation agreement owes the buyer:
- A Washington buyer's agent discovers after an accepted offer that the property is in an area the buyer had previously said they didn't want to live in. The agent failed to confirm this before writing the offer. The agent's failure is:
- A Washington listing broker tells a buyer that the property has never had water intrusion, even though the broker's inspection notes from a prior client's offer show water damage in the basement. The listing broker has committed:
- A Washington seller instructs their listing agent to tell all buyers the property is listed 'as-is' to discourage repair requests. A buyer makes an offer and asks about the condition of the roof. The listing agent knows the roof leaks. The agent must:
- Under Washington's agency law, the duty of 'loyalty' requires a real estate agent to:
- A Washington buyer's agent helps a buyer purchase a home. After closing, the buyer asks the agent to return part of their commission as a rebate. Under Washington law:
- A Washington seller tells their listing agent that they would accept $475,000 for their home listed at $510,000. A buyer's offer comes in at $480,000. The listing agent can tell the buyer's agent:
- A Washington listing agent is asked by the seller to misrepresent the age of the home's roof to make it more attractive. The agent agrees and tells buyers the roof is 5 years old when it is actually 15 years old. This constitutes:
- A Washington real estate agent is working with a buyer who has confidential information about a major employer relocating to the area, which will likely increase property values significantly. The agent must:
- A Washington designated broker wants to formalize their firm's policy on agency relationships in writing. The document that outlines the firm's policies on agency, how conflicts are handled, and how compensation is distributed is called a:
Fair Housing
108 questions- Washington State's Law Against Discrimination (WLAD) includes protected classes beyond the federal Fair Housing Act, including:
- Which of the following is an example of blockbusting?
- Under the Fair Housing Act, which of the following buildings is EXEMPT from the prohibition on discrimination based on familial status?
- A Washington landlord refuses to rent to a family because they have children. This is:
- The federal Fair Housing Act was passed in:
- Washington's Law Against Discrimination (RCW 49.60) applies to:
- Under Washington's RCW 49.60, marital status is a protected class. This means a Washington landlord may NOT:
- In Washington, redlining refers to the illegal practice of:
- A Washington property manager posts a rental ad stating 'perfect for young professionals.' This statement may violate fair housing because:
- Under the Fair Housing Act, a real estate broker who steers buyers of a certain race to specific neighborhoods is committing:
- A Washington landlord may legally refuse to rent to an applicant who:
- Under Washington's source of income protection in Seattle and many other jurisdictions, landlords may NOT:
- A Washington property owner who makes their property available for sale must provide equal access to all prospective buyers regardless of protected class. This principle is known as:
- Washington's Human Rights Commission enforces RCW 49.60 and may impose which remedy for fair housing violations?
- The Americans with Disabilities Act (ADA) applies to Washington commercial properties by requiring:
- Under the Fair Housing Act, a building owner must allow a tenant with a disability to make reasonable modifications at the tenant's expense when:
- A Washington condo association refuses to allow a resident with a mobility disability to install a ramp at their unit entrance. This likely violates:
- Fair Housing Act penalties for first-time violations can include civil penalties of up to:
- In Washington, discrimination in the sale or rental of housing based on a person's use of a service animal is:
- A Washington landlord's application screening criteria may legally include all of the following EXCEPT:
- The Fair Housing Act's prohibition against discrimination based on 'familial status' protects:
- In Washington, a property manager who shows different units to prospective tenants based on their race is committing:
- Under HUD's disparate impact theory, a Washington housing policy may be discriminatory even without intent if:
- A Washington property manager's written rental application unlawfully requires applicants to provide their:
- Under Washington's RCW 49.60, complaints about housing discrimination may be filed with the:
- An 'emotional support animal' differs from a 'service animal' in that:
- A Washington landlord may charge a pet deposit but under the Fair Housing Act cannot charge a 'pet fee' for a:
- Under the Fair Housing Act, a Washington newspaper may be liable for fair housing violations if it:
- In Washington, a real estate agent who discourages a buyer from purchasing a home in a particular neighborhood because of the racial composition of that neighborhood is committing:
- A Washington landlord who has a 'no overnight guests' policy and enforces it against tenants with familial status (children) but not against single tenants may be committing:
- A Washington property manager who requires a larger deposit from a family with young children than from adults without children is engaging in:
- The Washington State Human Rights Commission has jurisdiction over fair housing complaints for up to how many years after the alleged violation?
- In Washington, a landlord may ask a tenant requesting a disability accommodation for:
- A Washington HOA that enforces rules differently against residents of one ethnic background compared to others is committing:
- In Washington, the term 'testers' in fair housing enforcement refers to:
- A Washington apartment complex advertises 'No children — adults only' for a non-senior housing building. This is:
- A Washington seller instructs their broker not to show the home to buyers of a specific religion. The broker should:
- In Washington, a real estate broker's office must display which fair housing poster?
- Under the Fair Housing Act, a Washington seller who instructs their broker not to advertise on internet platforms that reach minority communities is:
- A Washington housing authority that uses a lottery system with no preference for race, religion, or national origin to allocate affordable housing units is:
- Under Washington law, a rental application that asks about a prospective tenant's criminal history must:
- A Washington property manager who segregates tenants by national origin into different buildings within a complex is committing:
- A Washington lender who charges higher interest rates to borrowers based on their national origin is violating which law(s)?
- Under Washington's Law Against Discrimination (RCW 49.60), a complaint of housing discrimination must be filed with the Human Rights Commission within:
- A Washington property manager imposes a maximum occupancy standard of two persons per bedroom. This standard may be:
- Washington's fair housing enforcement through the Washington State Human Rights Commission includes the ability to:
- A Washington condo association rule that prohibits residents from displaying religious symbols on their unit doors may:
- Under Washington law, a landlord who has a 'no smoking' policy must allow a tenant with a qualifying disability to smoke medical cannabis if:
- Under Washington law, a lender that requires a higher down payment from minority applicants than from similarly qualified non-minority applicants is:
- A Washington landlord advertises an apartment using words like 'walking distance to church' and 'Christian neighborhood.' This may violate fair housing because:
- Under Washington's RCW 49.60, which of the following is a newly added protected class that federal fair housing law does NOT currently include?
- In Washington, a lender who uses an automated underwriting system that produces discriminatory results may be liable under:
- Under Washington's fair housing law (RCW 49.60), disability includes which of the following conditions?
- In Washington, a real estate website that uses algorithms to show different property listings to users based on their inferred race or ethnicity would be:
- Under Washington's 'source of income' protection, which entities must accept Section 8 housing vouchers?
- Under the Fair Housing Act's reasonable modification provisions, who typically pays for reasonable modifications to a rental unit?
- In Washington, the concept of 'affirmatively furthering fair housing' (AFFH) requires jurisdictions receiving HUD funding to:
- A Washington property owner who personally resides in a building with 4 or fewer units and rents the other units may be exempt from the Fair Housing Act for:
- A Washington real estate developer who intends to build senior housing that restricts occupancy to persons 55 and older must ensure the housing qualifies under the Housing for Older Persons Act (HOPA) by:
- In Washington, a property manager who refuses to accept a completed rental application from a person because of their disability before reviewing the application has committed:
- Under Washington's fair housing law, a new apartment project must meet accessibility requirements for persons with disabilities in:
- A Washington landlord's policy of requiring co-signers for all applicants with 'non-traditional' income sources may be discriminatory if it:
- A Washington landlord who tells a prospective tenant 'the apartment is taken' when it actually is not, because the prospect is of a different race, has committed:
- A Washington rental company's software automatically generates higher rent quotes for users whose browsing patterns suggest they live in wealthier zip codes. If this disproportionately impacts protected class members, it may constitute:
- A Seattle landlord rents to a tenant who later develops a disability requiring a service animal. The lease prohibits pets. Under the Fair Housing Act, the landlord must:
- Under Washington's Law Against Discrimination (RCW 49.60), which protected class is included in Washington's law but NOT in the federal Fair Housing Act?
- A Washington property management company advertises apartments with the phrase 'ideal for young professionals.' This advertising language:
- A real estate licensee in Yakima shows minority buyers only properties in certain neighborhoods while never showing them properties in predominantly white neighborhoods. This practice is known as:
- A Washington property owner with a small building containing 2 units lives in one unit and rents the other. This owner is exempt from the federal Fair Housing Act under the 'Mrs. Murphy' exemption if they do NOT use:
- A Washington mortgage lender systematically denies loan applications from properties in certain zip codes associated with minority populations, without regard to individual creditworthiness. This practice is called:
- Under the Americans with Disabilities Act (ADA), which types of buildings must provide accessible design features?
- Under the Fair Housing Act, which of the following actions is permitted?
- A Washington landlord refuses to rent to a family with four children, claiming the unit is too small for that many occupants. Under fair housing law, occupancy standards must be:
- In Washington, a landlord who wants to sell a single-family rental home has a tenant with 6 months remaining on their lease. Under RCW 59.18, the landlord can sell the property, but:
- A Washington senior housing community wants to restrict occupancy to persons 55 and older. To qualify for the 55+ housing exemption from the familial status provisions of the Fair Housing Act, the community must:
- A Washington property manager receives a tenant's request to paint the unit walls a different color. This type of modification request should be addressed under:
- Under the Fair Housing Act, a property manager who 'steers' a buyer with a disability toward accessible units and away from non-accessible units — without the buyer requesting this — has potentially:
- Under the Fair Housing Act, a landlord may ask a prospective tenant with a visible disability for documentation of their disability in which circumstance?
- A Washington property management company uses a background check service that has a higher denial rate for applicants from certain racial groups. This policy may constitute a Fair Housing violation based on:
- A Washington real estate agent is asked by a client to only show homes in neighborhoods that are predominantly of the same race as the client. The agent should:
- A Washington landlord refuses to rent to a couple because they are not married. Under Washington's Law Against Discrimination (RCW 49.60), this may constitute discrimination based on:
- A Washington property management company markets units only through word-of-mouth referrals from current residents. If the current resident population is predominantly one race, this marketing practice may:
- A Washington real estate agent publishes an MLS listing noting the property is near a 'prestigious private school' and in a 'quiet, safe neighborhood.' This advertising:
- A Washington condominium association adopts a rule prohibiting all children under 18 from using the swimming pool. This rule violates:
- A Washington property manager receives a request for an emotional support animal (ESA) from a tenant with a mental health disability. The landlord may:
- A Washington property manager gives a white applicant a discounted first month's rent 'special' but doesn't offer the same promotion to a minority applicant who applies the same week. This is an example of:
- A Washington landlord advertises a unit as 'perfect for a young couple without children.' Under the Fair Housing Act, this advertisement:
- A Washington real estate agent is asked by a prospective client to 'find me a neighborhood with people like us.' The agent should:
- A Washington property owner wants to sell their own home without a real estate agent. Under the Fair Housing Act, the owner:
- A Washington landlord who manages more than 4 units uses an application screening policy that automatically rejects any applicant with a prior felony conviction. Under HUD guidelines and fair housing principles, this policy:
- A Washington condo association wants to screen rental applicants for its owner-occupied units. The association's screening criteria must:
- A Washington real estate agent refuses to negotiate with a buyer's agent because the buyer is perceived to be of a different national origin. This constitutes discrimination based on:
- Under Washington's Law Against Discrimination (RCW 49.60), which of the following is a protected class in Washington but NOT a federally protected class under the Fair Housing Act?
- A Seattle landlord checks social media profiles of prospective tenants as part of their screening process. Information gathered from social media could create fair housing liability if the landlord:
- A Washington landlord who wants to conduct criminal background screening of rental applicants should:
- A Washington tenant with HIV/AIDS discloses their condition to their landlord while requesting a reasonable accommodation. The landlord may NOT:
- A Washington real estate company produces flyers that only show photos of white families in their advertisements for a residential subdivision. This advertising practice may violate the Fair Housing Act because:
- A Washington landlord receives a complaint from a tenant with a mental health disability who requests that a support person be allowed to accompany them during lease renewal meetings. This is best categorized as a request for:
- A Washington property manager uses income-to-rent ratio requirements as part of tenant screening. To comply with fair housing law, this requirement must be:
- A Washington property manager requires prospective tenants to provide their Social Security Number (SSN) on a rental application. A foreign national without an SSN inquires about renting. The manager should:
- A Washington landlord sends renewal lease offers to all tenants simultaneously, but includes different rent increases for different units without any clear basis. Some minority tenants receive higher increases. This may constitute:
- Under the Fair Housing Act, a seller who refuses to sell to a buyer because the buyer has a national origin accent is engaging in:
- A Washington landlord receives rental applications from two equally qualified applicants — one is a U.S. citizen and one is a lawfully admitted immigrant. Under fair housing law, the landlord:
- A Washington landlord who is also a member of a religious organization refuses to rent to an unmarried couple. The landlord claims a religious freedom exemption. Under Washington's Law Against Discrimination (RCW 49.60), this refusal:
- A Washington rental complex requires applicants to provide 'personal references.' If this requirement is enforced to exclude applicants from certain national origins who are less likely to have American personal references, it may constitute:
- A Washington landlord is contacted by a local homeless shelter wanting to place a formerly homeless person with housing vouchers. The landlord says 'we don't take vouchers.' Under Seattle's Source of Income protection ordinance:
- A Washington housing provider is adding a new policy requiring tenants to obtain renters' insurance. To comply with fair housing law, this policy must be:
- A Washington landlord requires all tenants to provide proof of 'stable employment' for the past 2 years. A recently divorced person whose work history was interrupted to care for children applies. This screening criterion may constitute:
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