Under Washington's real estate license law, which state agency is responsible for establishing and enforcing trust account rules for real estate licensees?
Correct Answer
B) Washington State Department of Licensing (DOL)
Under RCW Chapter 18.85, the Washington State Department of Licensing (DOL), Real Estate Program, is the regulatory authority responsible for licensing real estate brokers and enforcing all rules related to trust accounts, commingling prohibitions, and other professional conduct standards.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Commingling is the illegal act of mixing client trust funds with a broker's personal or business operating funds; conversion is the misappropriation of those funds.
Continuing education (CE) refers to the ongoing coursework that licensed real estate professionals must complete during each renewal cycle to maintain an active license. CE ensures agents stay current with changes in laws, regulations, and industry practices.
The National Do Not Call Registry is a federal program administered by the FTC that allows consumers to opt out of receiving unsolicited telemarketing calls, including calls from real estate agents soliciting business.
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