Washington License Law
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:
AWhen the designated broker returns
B1 banking day of receipt, regardless of the designated broker's availability✓ Correct
C3 banking days if the designated broker is unavailable
D5 business days in all circumstances
Explanation
Washington's trust account requirements are absolute — funds must be deposited within 1 banking day of receipt, regardless of whether the designated broker is available. The broker cannot hold funds pending the designated broker's return.
Related Washington Washington License Law Questions
- Under Washington's RCW 18.85, a real estate broker's license may be denied if the applicant:
- What is the passing score required on the Washington State real estate broker licensing examination?
- A Washington broker who negotiates the sale of a business opportunity (business only, no real estate) must:
- How many hours of pre-license education are required for a Washington real estate broker applicant?
- Under RCW Chapter 18.85, which entity has authority to revoke or suspend a Washington real estate broker's license?
- In Washington State, designated broker supervision duties include:
- A Washington real estate firm changes its business name. The firm must:
- An 'affiliated licensee' in Washington's real estate law refers to:
Practice More Washington Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Washington Quiz →