US Real Estate Washington Test 5

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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

Which agency licenses agents in Washington?

A) IRS

B) Department of Licensing

C) State Bar

D) Medical Board

Question 2

What is agency in real estate?

A) zoning

B) ownership

C) broker acting for a client

D) tenancy

Question 3

What is a listing agreement?

A) contract to sell a property

B) lease

C) deed

D) purchase offer

Question 4

What is earnest money?

A) commission

B) buyer good-faith deposit

C) tax

D) fee

Question 5

What is PITI?

A) a tax

B) a loan type

C) a deed

D) principal, interest, taxes, insurance

Question 6

What is a fiduciary duty?

A) dual profit

B) secrecy from client

C) profit first

D) loyalty, obedience, care to client

Question 7

What is dual agency?

A) two brokers

B) no representation

C) buyer only

D) one broker representing both sides

Question 8

What is the Fair Housing Act?

A) tax law

B) zoning code

C) bans housing discrimination

D) building code

Question 9

What classes are protected in housing?

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

B) income

C) age only

D) politics

Question 10

What is redlining?

A) appraising

B) illegal denial by neighborhood

C) mapping

D) surveying

Question 11

What is steering?

A) guiding buyers by race (illegal)

B) showing homes

C) negotiating

D) advertising

Question 12

What is LTV?

A) land title verification

B) listing traffic volume

C) lease term value

D) loan-to-value ratio

Question 13

What is a CMA?

A) appraisal

B) survey

C) comparative market analysis

D) inspection

Question 14

What is an appraisal?

A) offer

B) inspection

C) listing

D) professional value opinion

Question 15

What is PMI?

A) property tax

B) title insurance

C) flood insurance

D) insurance for low down payments

Question 16

What is escrow?

A) neutral third-party holding

B) commission

C) down payment

D) tax

Question 17

What is a deed?

A) ownership transfer document

B) lease

C) loan paper

D) offer

Question 18

What is a warranty deed?

A) quitclaim

B) lease

C) guarantees clear title

D) option

Question 19

What is a quitclaim deed?

A) transfers whatever interest exists

B) full warranty

C) lease

D) loan

Question 20

What is title insurance?

A) flood policy

B) protects against title defects

C) home warranty

D) life insurance

US Real Estate Washington Test 5

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