Any brokers in Washington state who wants to become a managing broker. It comprises the courses that the Department of Licensing requires in order to qualify for the managing broker's exam. This category is not for current managing brokers who only need to complete the standard continuing education of 30 hours. In order to become a managing broker in Washington state you must have three years of full-time experience as an active broker or other qualifying experience.
In order to qualify to take the state exam, students must complete 90 hours of approved education in the following categories:
You must pass the Washington state exam within 3 years of completing the first course of your required 90 clock hours.
The state managing broker exam is split into two parts. Part of the exam is meant to test your understanding of Washington state law, the second is designed to test your knowledge of national real estate concepts.
Here at Realestateschool.org we have a fantastic package designed just for brokers to get all of their 90 required hours and give them the tools to study for the exam. The most popular package students choose is: Managing Broker Platinum Package
Exams in Washington are in a multiple choice format. The Washinton state section of the exam is 44 questions and you are given 1.5 hours to complete the test. The national section of the exam is longer and consists of 90 questions which need to be completed in 2.5 hours. Some of the questions presented are scenario based and require the candidated to select the best possible option. The scenario based questions are weighted due to the quality of the choice. For example, the worst option(s) would receive 0 points, while 1 point would represent a better answer, and 2 points would represent a best answer.
The exam is 4 hours (2.5 hours for the national exam, and 1.5 hours for the state exam) and they will let you know how you did as soon as you finish.
Yes, and you can retake it as many times as you want. Granted, retaking the exam many times would be expensive and time consuming, but, there isn't currently a limit on the number of times you can take it.
If you pass one portion of the exam, you do not need to take that portion of the exam again. For example, if you pass the national part of the exam and fail the state portion, you can retake just the state portion. If you fail part of the exam, you must pass the other portion within 6 months. Your exam fees will be the same regardless if you are taking part of the exam or the entire exam.
No, broker's are considered renewed when they submit all the fees and documentation required to the DOL. This can be done online through the DOL's online portal, or by mailing the paperwork and check. If mailed, the date it's postmarked is considered the renewal date. We don't recommend you cut it close enough to worry, but it's important to know the exact date in case of late renewal.
No, but print out your certificates and maintain the records. The state randomly audits the records of brokers to verify compliance.
Absolutely. We will keep track of all of your education completed with us and you're welcome to log in and print your certificates or call our office if you ever lose your copies.
Most often, yes. Check with a tax professional regarding your specific situation to verify.
If you happen to have extra unused clock hours, you can use up to fifteen continuing education hours for your next renewal. The Washington DOL rules are that the hours must have been completed within 48 months (4 years) of the renewal they are being used for. Keep in mind, course hours cannot be split up, so, a student can't use extra hours from a course which was already claimed for credit, even partial.