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ROCKWELL WA REAL ESTATE EXAM (3 VERSIONS)
ALL 500 QUESTIONS AND WELL ELABORATED
ANSWERS WITH RAIONALES LATEST UPDATE THIS YEAR
Question: Cluster zoning, which allows smaller lot sizes and reduced frontages, is suitable if a
development:
a. includes both commercial and residential uses
b. still has a density ratio consistent with the general plan
c. abuts a wetland or other sensitive site
d. abuts state-or city-owned land - CORRECT ANSWER✔✔b. still has a density ratio consistent
with the general plan
Question: A broker would need to have a securities license to participate in:
a. a sale of both real and personal property
b. a sale of a commercial building that is showing a profit
c. a transaction involving an investment contract
d. listing a property owned by a corporation - CORRECT ANSWER✔✔c. a transaction involving an
investment contract
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Question: Five people buy an investment property. They take title so that they each have equal
ownership shares, and so that if one of them dies, his share will pass to his heirs. How did they
take title?
A. Community property
b. Joint tenancy
c. Tenancy in common
d. Term Tenancy - CORRECT ANSWER✔✔c. Tenancy in common
What would cause a judgment lien to be imposed on a landowner's property?
a. Foreclosure
b. Lawsuit
c. Unpaid construction project
d. Unpaid property taxes - CORRECT ANSWER✔✔b. Lawsuit
Question: Buyer Perry would like to assume Seller
Joan's loan with ABC Mortgage Company,
in a way that would mean no further liability
for Joan. To accomplish this, Perry and
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Joan should use a:
a. acknowledgement of the agreement from ABC Mortgage.
b. purchase contract signed by the buyer and seller
c. release of liability signed by the ABC Mortgage
d. release of liability signed by Joan - CORRECT ANSWER✔✔c. release of liability signed by the
ABC Mortgage
Question: A buyer who records a deed is giving:
a. constructive notice
b. actual notice
c. pending notice
d. statutory notice - CORRECT ANSWER✔✔a. constructive notice
Question: John leases a commercial property. In the
lease, he agrees to pay part of the utilities
and taxes, as well as a fixed monthly rent
amount, This is a:
a. net lease
b. percentage lease
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c. ground lease
d. graduated lease - CORRECT ANSWER✔✔a. net lease
Question: By what right would a railroad company acquire private land necessary for a new
railway line?
a. Partition action
b. Eminent domain
c. Suit in federal court
d. condemnation - CORRECT ANSWER✔✔b. eminent domain
Question: A real estate agent lists Harold's home, which he owns as a life estate. Harold's
children hold the remainder interest. Which of the following is true?
a. someone who buys Harold's life estate receives only the interest held by Harold
b. Harold's children need to sign the listing agreement
c. The buyer will automatically receive a fee simple absolute interest
d. Since a life estate cannot be sold, the listing is invalid - CORRECT ANSWER✔✔a. someone
who buys Harold's life estate receives only the interest held by Harold
Question: The entity that determines the maximum number of people who may legally live in a
rental unit is the:
ROCKWELL WA REAL ESTATE EXAM (3 VERSIONS)
ALL 500 QUESTIONS AND WELL ELABORATED
ANSWERS WITH RAIONALES LATEST UPDATE THIS YEAR
Question: Cluster zoning, which allows smaller lot sizes and reduced frontages, is suitable if a
development:
a. includes both commercial and residential uses
b. still has a density ratio consistent with the general plan
c. abuts a wetland or other sensitive site
d. abuts state-or city-owned land - CORRECT ANSWER✔✔b. still has a density ratio consistent
with the general plan
Question: A broker would need to have a securities license to participate in:
a. a sale of both real and personal property
b. a sale of a commercial building that is showing a profit
c. a transaction involving an investment contract
d. listing a property owned by a corporation - CORRECT ANSWER✔✔c. a transaction involving an
investment contract
, Page 2 of 181
Question: Five people buy an investment property. They take title so that they each have equal
ownership shares, and so that if one of them dies, his share will pass to his heirs. How did they
take title?
A. Community property
b. Joint tenancy
c. Tenancy in common
d. Term Tenancy - CORRECT ANSWER✔✔c. Tenancy in common
What would cause a judgment lien to be imposed on a landowner's property?
a. Foreclosure
b. Lawsuit
c. Unpaid construction project
d. Unpaid property taxes - CORRECT ANSWER✔✔b. Lawsuit
Question: Buyer Perry would like to assume Seller
Joan's loan with ABC Mortgage Company,
in a way that would mean no further liability
for Joan. To accomplish this, Perry and
, Page 3 of 181
Joan should use a:
a. acknowledgement of the agreement from ABC Mortgage.
b. purchase contract signed by the buyer and seller
c. release of liability signed by the ABC Mortgage
d. release of liability signed by Joan - CORRECT ANSWER✔✔c. release of liability signed by the
ABC Mortgage
Question: A buyer who records a deed is giving:
a. constructive notice
b. actual notice
c. pending notice
d. statutory notice - CORRECT ANSWER✔✔a. constructive notice
Question: John leases a commercial property. In the
lease, he agrees to pay part of the utilities
and taxes, as well as a fixed monthly rent
amount, This is a:
a. net lease
b. percentage lease
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c. ground lease
d. graduated lease - CORRECT ANSWER✔✔a. net lease
Question: By what right would a railroad company acquire private land necessary for a new
railway line?
a. Partition action
b. Eminent domain
c. Suit in federal court
d. condemnation - CORRECT ANSWER✔✔b. eminent domain
Question: A real estate agent lists Harold's home, which he owns as a life estate. Harold's
children hold the remainder interest. Which of the following is true?
a. someone who buys Harold's life estate receives only the interest held by Harold
b. Harold's children need to sign the listing agreement
c. The buyer will automatically receive a fee simple absolute interest
d. Since a life estate cannot be sold, the listing is invalid - CORRECT ANSWER✔✔a. someone
who buys Harold's life estate receives only the interest held by Harold
Question: The entity that determines the maximum number of people who may legally live in a
rental unit is the:
