Download Wisconsin Real Estate Exam questions and answers 2025/26100% pass and more Exams Nursing in PDF only on Docsity!
answers 2025/26100% pass.
Salespeople can use which of the following forms: - Correct Answers ✅a form prepared and approved by the Department Which of the following are NOT considered client funds? - Correct Answers ✅Promissory Notes Zoning laws may NOT be used to regulate which of the following? - Correct Answers ✅The placement of interior partitions According to the WB-36 Buyer Agency/Tenant Representation Agreement, a commission is earned by the buyer firm only if the: - Correct Answers ✅buyer acquires an interest in property or enters into an enforceable contract that is acceptable to buyer A seller lists his house with Salesperson A. A buyer goes to Salesperson A's open house and decides to make an offer on the house. The buyer signs a buyer agency agreement with Salesperson A. Salesperson A drafts the offer to purchase for the buyer. Which of the following
Wisconsin Real Estate Exam questions and
answers 2025/26100% pass.
CORRECTLY identifies the relationship of Salesperson A and the buyer and the seller? - Correct Answers ✅The seller is Salesperson A's client, the buyer is Salesperson A's client Shoreland zoning regulates land located within: - Correct Answers ✅1,000 feet of the ordinary high water mark of a lake, pond, or flowage Bob changed his mind about purchasing 456 Right Here Avenue. The seller has accepted the offer. The offer has not been delivered to Bob. What is the effect on the transaction if Bob's license calls the seller and says the deal is off? - Correct Answers ✅Withdrawal of the offer A buyer discovered defects during the home inspection and the seller has the right to cure. Which of the following forms would be used to inform a seller of defects a buyer would like to have repaired prior to closing? - Correct Answers ✅Notice Relating to Offer to Purchase
Wisconsin Real Estate Exam questions and
answers 2025/26100% pass.
A buyer's firm writing an offer as a cooperating firm is an example of: - Correct Answers ✅single agency Licensees are required to disclose to all parties: - Correct Answers ✅possible material adverse facts Betty and Sam were in negotiations regarding property 789 Pear Street. Betty made an offer to purchase including earnest money of $5,000. Sam rejected Betty's offer. Who receives the disbursement of the $5,000 earnest money? - Correct Answers ✅Betty receives 5000. An offer to purchase for the sale of a home meets all of the requirements established in the listing agreement. Which of the following statements is true? - Correct Answers ✅The owner may reject the offer.
Wisconsin Real Estate Exam questions and
answers 2025/26100% pass.
The right of a governmental body to take ownership of real estate for public use is called: - Correct Answers ✅Eminent Domain A buyer wants to have the interest earned on their earnest money deposit. Which of the following statements is most correct? - Correct Answers ✅The firm cannot draft an escrow agreement for the buyer and seller. Which of the following is NOT true regarding a licensee who associates with a new firm? - Correct Answers ✅The licensee cannot provide real estate services for the new firm until at least 30 days have passed since the transfer was mailed. Which of the following statements is true of property held in joint tenancy? - Correct Answers ✅If a joint tenant dies, the surviving tenant or tenants receive the interest of the deceased joint tenant
Wisconsin Real Estate Exam questions and
answers 2025/26100% pass.
From the grantee's point of view, the best deed to receive is a: - Correct Answers ✅Warranty Deed Wisconsin fair housing laws prohibit discrimination in housing based on all of the following EXCEPT: - Correct Answers ✅Conviction Record A tenant has vacated a property at the end of the tenant's lease term. What is the landlord's deadline for returning a security deposit less any amounts properly withheld? - Correct Answers ✅21 days after the tenant vacates the unit Which of the following real estate licensee is NOT required to ensure compliance with the federal LBP disclosure law? - Correct Answers ✅A buyer's firm paid by the buyer: LBP disclosure law does not apply to purchasers.
Wisconsin Real Estate Exam questions and
answers 2025/26100% pass.
Which of the following is NOT viewed as an encumbrance that must be disclosed to a buyer? - Correct Answers ✅Back taxes that the seller will be paying off at closing A licensee is required to disclose: - Correct Answers ✅material inconsistent with or materially contradictory to the seller's statements or the inspection report of a third When purchasing the property, the owners disclosed that they received permission from the local municipality to build their deck onto the setback lines. This is an example of a: - Correct Answers ✅Variance The WB-36 Buyer Agency Agreement provides that the buyer's firm has the exclusive right to: - Correct Answers ✅act as a buyer's agent
Wisconsin Real Estate Exam questions and
answers 2025/26100% pass.
A buyer hires a firm to locate a specific type of property for a buyer. The buyer's licensee, upon finding the property, does not make the buyer aware of it and purchases it for himself. What duty to the buyer did the licensee violate? - Correct Answers ✅Loyalty Which of the following is a CORRECT statement regarding Antitrust Laws? - Correct Answers ✅The Sherman Antitrust Act was designed to maintain and preserve business competition. A licensee with a plumbing background notices a defect with a seller's plumbing that is not mentioned on the Real Estate Condition Report or the home inspection report. What should the licensee do? - Correct Answers ✅Inform the buyer and seller in writing of the defect What type of mortgage law is recognized in Wisconsin? - Correct Answers ✅Lien Theory
Wisconsin Real Estate Exam questions and
answers 2025/26100% pass.
According to the Truth in Lending Act (TILA), what should be disclosed to a borrower? - Correct Answers ✅The annual percentage rate (APR) Acceptance occurs when all: - Correct Answers ✅buyers and sellers have signed an identical copy of the offer What must a firm provide to its licensees? - Correct Answers ✅Reasonable access to a supervising broker A licensee associated with a firm wants to place an advertisement in the local newspaper. A licensee must use the firm's name in all advertising UNLESS: - Correct Answers ✅the licensee is advertising for tenants for personally owned rental property Which of the following transactions must include a real estate condition report? - Correct Answers ✅A seller selling a duplex that the seller has never lived in
Wisconsin Real Estate Exam questions and
answers 2025/26100% pass.
NOT be able to give a Notice of Defects? - Correct Answers ✅D:The buyer had knowledge of the defects at the time of the offer. How long does a licensee have to notify the DSPS of a misdemeanor conviction? - Correct Answers ✅48 Hours A seller delivers an amendment to the buyer, which is not accepted. What is the status of the offer? - Correct Answers ✅The terms remain as they were before the amendment. A listing agent has an accepted offer to purchase on a listing. Another offer is being written and the buyer wants information about the existing offer. What information can the listing agent share with the second buyer? - Correct Answers ✅The existing offer has a continued marketing (bump) clause
Wisconsin Real Estate Exam questions and
answers 2025/26100% pass.
A licensee offers payment for a buyer's home inspection. What is this offer from the licensee to the buyer called? - Correct Answers ✅An incentive Which of the following is NOT a duty owed to a customer? - Correct Answers ✅Disclosure of material facts Which of the following is a duty owed ONLY to a client? - Correct Answers ✅Loyally represents interests Without the written consent of the supervising broker, an agent has the authority to: - Correct Answers ✅Amend a buyer agency agreement to exclude commercial and agricultural properties Discount points enable a borrower to: - Correct Answers ✅reduce the initial interest rate of the loan
Wisconsin Real Estate Exam questions and
answers 2025/26100% pass.
Jane is showing a home to prospective buyer Lester. Jane shows Lester the warped steps of the back porch stairs, describing it as "country charm." She then shows him the "beautifully landscaped herb garden," while pointing to patch of overgrown weeds. Which term below describes Jane's actions in describing the property to Lester? - Correct Answers ✅Puffing A buyer's licensee is representing two separate buyers. Each buyer is interested in the same property. How should the buyer's licensee proceed? - Correct Answers ✅The licensee should draft competing offers on behalf of each buyer. According to the terms of the WB-1 Residential Listing Contract which of the following could be a protected buyer? - Correct Answers ✅A buyer who attended an individual showing Which of the following bundle of rights are NOT included in a leasehold estate? - Correct Answers ✅Disposition
Wisconsin Real Estate Exam questions and
answers 2025/26100% pass.
How must a supervising broker delegate supervision to another broker?
- Correct Answers ✅In a written statement signed by both brokers According to the terms of the WB-1 Residential Listing Contract, how many days does the seller have to provide a new listing firm with the former listing firm's list of protected buyers? - Correct Answers ✅7 days When renting commercial property to tenants, the property owner or property manager: - Correct Answers ✅needs to be aware of any local equal opportunity ordinances that may affect commercial or industrial properties A firm is allowed to act in a multiple representation relationship when: - Correct Answers ✅both clients in the transaction consent in writing to the multiple representation
Wisconsin Real Estate Exam questions and
answers 2025/26100% pass.
Beth, Jenny, and Molly all purchased a farm together. The deed only listed each of their names. Which of the following forms of ownership are they presumed to have taken? - Correct Answers ✅Tenants in Common Which of the following is NOT a federally protected class? - Correct Answers ✅Age The market data approach when used by a licensee: - Correct Answers ✅gives an opinion of the price a property will most likely sell for on the open market Which of the following is the way that title appears on public records? - Correct Answers ✅Record Which of the following is NOT a penalty for a licensee who breaches a duty to a client? - Correct Answers ✅Loss of MLS membership
Wisconsin Real Estate Exam questions and
answers 2025/26100% pass.
If the buyer would like the buyer's firm to be paid by the seller, the buyer: - Correct Answers ✅must authorize the payment of commission from seller to buyer's firm in the buyer agency agreement A buyer may be protected under a previous firm's listing contract in all of the following ways EXCEPT: - Correct Answers ✅the buyer saw the property at an open house When a depository institution remits the interest earned on a firm's interest-bearing trust account to the Department they must inform the firm of all the following EXCEPT the: - Correct Answers ✅Interest earned on the account The existing firms in town have decided not to work with a new firm that charges less commission. This is likely: - Correct Answers ✅Group- Boycotting
Wisconsin Real Estate Exam questions and
