Washington State Real Estate Practice Exam

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Prepare for the Washington State Real Estate Exam with detailed flashcards and multiple choice questions, each with hints and explanations. Master the material and ace your exam!

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Are real estate licensees in Washington State required to carry errors and omissions insurance?

Yes, it is mandatory
Only if they choose to
No, it is not required
Only for commercial brokers

The correct answer is: Yes, it is mandatory

Real estate licensees in Washington State are indeed required to carry errors and omissions insurance. This requirement is in place to protect both the licensees and their clients. Errors and omissions insurance provides coverage in case a licensee is sued for negligence, inadequate work, or mistakes made in the course of their professional duties. This insurance helps to ensure that clients can seek recourse if they feel they have been harmed due to the actions of a real estate professional. The requirement for errors and omissions insurance demonstrates the state's commitment to maintaining a standard of professionalism and accountability in the real estate industry. Having this coverage not only safeguards the licensee's financial stability but also enhances the trust of consumers in the real estate market. In Washington, compliance with this requirement is essential for maintaining an active real estate license.