Washington Agency Disclosure and Confidential Information Quiz
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Questions and Answers

How should agency disclosure be communicated in Washington according to the text?

  • In writing (correct)
  • Through email communication
  • Verbally
  • Only in person
  • In what form should agency disclosure be presented according to the text?

  • In a separate paragraph or provision within an agency relationship contract (correct)
  • Only through phone calls
  • As a verbal statement
  • As an informal chat
  • What are the consequences for breaching the duties owed as per the text?

  • Legal action (correct)
  • No consequences
  • Promotion
  • Financial reward
  • Where can confidential information be found according to the text?

    <p>Through proper channels as specified in the state's regulations</p> Signup and view all the answers

    What document can include the agency disclosure in Washington as mentioned in the text?

    <p><strong>Listing agreement</strong></p> Signup and view all the answers

    What is the impact of the passage of the Real Estate Brokerage Relationships Act in 1997 on the duties owed to all parties?

    <p>The duties owed to all parties are now defined by statutory law.</p> Signup and view all the answers

    Under the Real Estate Brokerage Relationships Act in Washington, who are the duties owed only to principals determined by?

    <p>Statutory law</p> Signup and view all the answers

    What is the significance of the Real Estate Brokerage Relationships Act in terms of agency disclosure requirements?

    <p>It established agency disclosure requirements in statutory law.</p> Signup and view all the answers

    How are the duties owed to principals different from those owed to all parties under the Real Estate Brokerage Relationships Act?

    <p>Duties to principals are determined by statutory law while duties to all parties are based on common law.</p> Signup and view all the answers

    In which legal framework are the duties owed both to principals and all parties addressed?

    <p>Statutory law</p> Signup and view all the answers

    Who is responsible for supervision of affiliated licensees in Washington real estate?

    <p>Managing broker</p> Signup and view all the answers

    What is the key difference between a broker and a managing broker in Washington real estate?

    <p>Their role in supervision of licensees</p> Signup and view all the answers

    In Washington real estate, who is liable for the activities of all associated firm members?

    <p>Brokers</p> Signup and view all the answers

    What is the significance of the role of a designated broker in a brokerage firm in Washington?

    <p>Liable for firm members' activities</p> Signup and view all the answers

    Which licensee in Washington real estate has the responsibility to oversee the day-to-day operations of a brokerage?

    <p>Managing broker</p> Signup and view all the answers

    What is the main difference between a designated broker and a managing broker in Washington real estate?

    <p>Their role in supervision of licensees</p> Signup and view all the answers

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