Agency and License Law Practice Question
Question
A closing coordinator flags an issue before settlement for the Washington Real Estate Broker Exam involving accounting and agency law pamphlet concepts. Which response best applies the rule? (Item 187)
Answer choices
- A. The party who complains first automatically receives the remedy requested.
- B. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
- C. Properly handle and account for money, documents, and property entrusted to the licensee in a way that fits Washington exam practice.
- D. The client’s preference eliminates the need to disclose known material facts.
Correct Answer
C. Properly handle and account for money, documents, and property entrusted to the licensee in a way that fits Washington exam practice.
Explanation
The correct answer is C because accounting requires candidates to properly handle and account for money, documents, and property entrusted to the licensee. The Washington reference keeps the scenario tied to state licensing practice, while the other options rely on unsafe assumptions about oral custom, escrow, client preference, independent licensee authority, or ignoring written duties.
Question details
- Difficulty: medium
- Domain: Agency and License Law
- Objective: accounting