Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-680 - Escrow Agent Registration Act › LICENSING AND THE ESCROW OFFICER TEST › Section 208-680-145 - Escrow officer test

Current through Register Vol. 24-14, July 15, 2024
(1)
How do I take the escrow officer test?
While the director
						determines the form and content of the escrow officer test with the advice of
						the escrow committee, the test is administered by a third-party company under a
						contract with the department. It is given at least annually. For information
						about the test process and available dates, applicants should consult the
						department's web site, which will redirect them to the current testing service
						provider for more detailed information.
(2)
Do I need to take and pass the
						escrow officer test before filing my application and paying my application fee
						to the department?
Yes. You must submit a copy of your test pass
						certificate with your application to the department. You must have passed the
						escrow test no more than one year before your initial application for a
						license. If your initial license is not issued within two years of your
						successful completion of the test, you may be required to retake the
						test.
(3)
Will the department
						review my application before I take the test to see if I meet the other
						requirements?
No. Due to volume and resource limitations, the department
						does not review escrow officer applications unless they are accompanied by a
						test pass certificate.
(4)
I
						am an attorney licensed to practice law in Washington. If I am required to
						license as an escrow officer, will I be required to take and pass the escrow
						officer test?
No, the department will accept membership in the
						Washington bar in lieu of taking and passing the escrow officer test.
(5)
The company I work for only
						provides payment collection and processing and the performance of related
						services on seller financed loans secured by real or personal property
						(contract collection). Must I take the escrow officer test?
If the
						escrow agent applicant satisfactorily demonstrates during the license
						application process that the escrow agent only provides contract collection
						services you will not be required to take the escrow officer test. You are
						prohibited from holding yourself out as being licensed to provide escrow
						services on residential mortgage loan transactions. You are subject to all
						other provisions of the act.
(6)
The company I work for only provides escrow services on personal property
						transactions. Must I take the escrow officer test?
If the escrow agent
						applicant satisfactorily demonstrates during the license application process
						that the escrow agent only provides escrow services on personal property
						transactions you will not be required to take the escrow officer test. You are
						prohibited from holding yourself out as being licensed to provide escrow
						services for residential mortgage transaction. You are subject to all other
						provisions of the act.
Statutory Authority:
								RCW
								   43.320.040 and chapter 18.44 RCW (as amended
								by   2010 c  34). 10-20-124, §
											208-680-145, filed 10/5/10,
								effective 11/5/10.