US Real Estate Washington Advanced Test 7

Real Estate » Category

Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

Prepared with up-to-date content

Real Estate — Washington Professional (Real Estate, USA) USA — Washington State Real Estate License — USA

What is this test? for Real Estate Salesperson/Broker prep, USA (national + state law) — Professional (Real Estate, USA) level, USA — Washington.
For adults preparing for Real Estate license in the USA
Section: Real Estate — Washington · Education: Professional (Adult) · Part: Real Estate — Washington · Country: USA · Region: USA — Washington

Finance and real estate acumen covers markets, valuation, contracts, and budget management.

This test is designed to reinforce core concepts and help you succeed on your exams.

By solving this test of 20 questions, you can both test your knowledge and identify the topics you need to improve.

Question 1

What is a warranty deed?

A) guarantees clear title

B) quitclaim

C) lease

D) option

Question 2

What is agency in real estate?

A) tenancy

B) ownership

C) broker acting for a client

D) zoning

Question 3

What is a listing agreement?

A) deed

B) lease

C) contract to sell a property

D) purchase offer

Question 4

What is earnest money?

A) buyer good-faith deposit

B) tax

C) fee

D) commission

Question 5

What is a fiduciary duty?

A) dual profit

B) loyalty, obedience, care to client

C) secrecy from client

D) profit first

Question 6

What is dual agency?

A) no representation

B) two brokers

C) buyer only

D) one broker representing both sides

Question 7

What is a quitclaim deed?

A) transfers whatever interest exists

B) full warranty

C) loan

D) lease

Question 8

What is the Fair Housing Act?

A) building code

B) zoning code

C) tax law

D) bans housing discrimination

Question 9

What classes are protected in housing?

A) income

B) age only

C) politics

D) race, color, religion, sex, handicap, family, national origin

Question 10

What is redlining?

A) illegal denial by neighborhood

B) appraising

C) surveying

D) mapping

Question 11

What is steering?

A) showing homes

B) negotiating

C) advertising

D) guiding buyers by race (illegal)

Question 12

What is a CMA?

A) inspection

B) survey

C) appraisal

D) comparative market analysis

Question 13

What is an appraisal?

A) inspection

B) professional value opinion

C) listing

D) offer

Question 14

What is title insurance?

A) protects against title defects

B) home warranty

C) flood policy

D) life insurance

Question 15

What are the three appraisal approaches?

A) list, sell, close

B) show, stage, sell

C) offer, accept, record

D) sales comparison, cost, income

Question 16

What is PITI?

A) principal, interest, taxes, insurance

B) a deed

C) a tax

D) a loan type

Question 17

What is LTV?

A) listing traffic volume

B) loan-to-value ratio

C) lease term value

D) land title verification

Question 18

What is PMI?

A) insurance for low down payments

B) property tax

C) flood insurance

D) title insurance

Question 19

What is escrow?

A) down payment

B) tax

C) commission

D) neutral third-party holding

Question 20

What is a deed?

A) offer

B) lease

C) ownership transfer document

D) loan paper

US Real Estate Washington Advanced Test 7

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