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Wisconsin Real Estate BUNDLED Exam 2023 with 100% correct answers
Wisconsin Real Esreal estate test wis. exam 2023 with 100% correct answers tate Exam 2023 with 100% correct answers
[Show more]Wisconsin Real Esreal estate test wis. exam 2023 with 100% correct answers tate Exam 2023 with 100% correct answers
[Show more]A seller signs a listing contract with a firm. Who is the agent and who is the principal? - correct answerThe sales person who is associated with the firm is the agent and the principal is the client. 
 
If you are the listing agent and a buyer asks you to write an offer on one of your firm's listi...
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Add to cartA seller signs a listing contract with a firm. Who is the agent and who is the principal? - correct answerThe sales person who is associated with the firm is the agent and the principal is the client. 
 
If you are the listing agent and a buyer asks you to write an offer on one of your firm's listi...
Acceleration Clause - correct answerA clause within a mortgage, permitting the lender to accelerate the amount due upon default and declare the entire balance due. 
 
Adjustable Rate Mortgage - correct answerA mortgage with a fluctuating interest rate usually limited to one adjustment each year. The...
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Add to cartAcceleration Clause - correct answerA clause within a mortgage, permitting the lender to accelerate the amount due upon default and declare the entire balance due. 
 
Adjustable Rate Mortgage - correct answerA mortgage with a fluctuating interest rate usually limited to one adjustment each year. The...
Express Agency - correct answerAgency through a formal agreement 
 
Implied agency - correct answerDon't have a formal agreement but develop an agency agreement through one or both of the parties actions unintentionally 
 
Express or implied in Wi - correct answerExpress, must be written - a ct wil...
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Add to cartExpress Agency - correct answerAgency through a formal agreement 
 
Implied agency - correct answerDon't have a formal agreement but develop an agency agreement through one or both of the parties actions unintentionally 
 
Express or implied in Wi - correct answerExpress, must be written - a ct wil...
Client - correct answerThe person who employs an agent to perform a service on their behalf. 
 
Material Adverse Fact - correct answerAn adverse fact that a party indicates is of such significance, or that is generally recognized by a competent licensee as being of such significance to a reasonable ...
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Add to cartClient - correct answerThe person who employs an agent to perform a service on their behalf. 
 
Material Adverse Fact - correct answerAn adverse fact that a party indicates is of such significance, or that is generally recognized by a competent licensee as being of such significance to a reasonable ...
Fee Simple Defeasible Estate - correct answerAn estate of inheritance that may be nullified upon the occurrence or non-occurrence of a particular event. 
 
Escheat - correct answerThe reversion of property to the state or county, as provided by state law, in cases where a decedent dies intestate and...
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Add to cartFee Simple Defeasible Estate - correct answerAn estate of inheritance that may be nullified upon the occurrence or non-occurrence of a particular event. 
 
Escheat - correct answerThe reversion of property to the state or county, as provided by state law, in cases where a decedent dies intestate and...
WB-11 - correct answerResidential Offer to purchase 
 
WB-13 - correct answerVacant Land Offer to purchase 
 
WB-46 - correct answerMultiple Counter Proposal 
 
Wb-44 - correct answerCounter offer 
 
WB-41 - correct answerNotice relating to offer to purchase 
 
WB-40 - correct answerAmendment to off...
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Add to cartWB-11 - correct answerResidential Offer to purchase 
 
WB-13 - correct answerVacant Land Offer to purchase 
 
WB-46 - correct answerMultiple Counter Proposal 
 
Wb-44 - correct answerCounter offer 
 
WB-41 - correct answerNotice relating to offer to purchase 
 
WB-40 - correct answerAmendment to off...
0 - bedroom Dwelling - correct answerefficieny and dormintory. Not target housing according to HUD. Exempt from needing to include the Lead Base Paint disclosure. 
 
Abstract of Title - correct answerA condensed history of a property's title showing, in chronological sequence, matters such as conve...
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Add to cart0 - bedroom Dwelling - correct answerefficieny and dormintory. Not target housing according to HUD. Exempt from needing to include the Lead Base Paint disclosure. 
 
Abstract of Title - correct answerA condensed history of a property's title showing, in chronological sequence, matters such as conve...
Agency - correct answerthe foundation upon which real estate brokerage is practiced. It describes a legal and ethical relationship between a real estate firm and a party to a transaction. 
 
Licensee - correct answerAny person licensed under state law to practice real estate. 
 
Broker - correct ans...
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Add to cartAgency - correct answerthe foundation upon which real estate brokerage is practiced. It describes a legal and ethical relationship between a real estate firm and a party to a transaction. 
 
Licensee - correct answerAny person licensed under state law to practice real estate. 
 
Broker - correct ans...
The foundation upon which real estate brokerage is practiced - correct answerAgency 
 
A legal and ethical relationship created between a real estate firm and a party to a transaction; the party may be a buyer, seller, landlord, or tenant - correct answerAgency Relationship 
 
A written agreement be...
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Add to cartThe foundation upon which real estate brokerage is practiced - correct answerAgency 
 
A legal and ethical relationship created between a real estate firm and a party to a transaction; the party may be a buyer, seller, landlord, or tenant - correct answerAgency Relationship 
 
A written agreement be...
Salespeople can use which of the following forms: - correct answera form prepared and approved by the Department 
 
Which of the following are NOT considered client funds? - correct answerPromissory Notes 
 
Zoning laws may NOT be used to regulate which of the following? - correct answerThe placemen...
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Add to cartSalespeople can use which of the following forms: - correct answera form prepared and approved by the Department 
 
Which of the following are NOT considered client funds? - correct answerPromissory Notes 
 
Zoning laws may NOT be used to regulate which of the following? - correct answerThe placemen...
A seller signs listing contract with firm. Who is the agent who is the principal? - correct answerSeller is the principal, firm is the agent. 
 
If you are the listing agent and a buyer asks you to write an offer but does not sign an agency agreement, how do you describe the buyer? - correct answerC...
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Add to cartA seller signs listing contract with firm. Who is the agent who is the principal? - correct answerSeller is the principal, firm is the agent. 
 
If you are the listing agent and a buyer asks you to write an offer but does not sign an agency agreement, how do you describe the buyer? - correct answerC...
Which of the following is NOT typically considered client funds? - correct answerSecurity deposits collected by a property owner 
 
A buyer wants to have the interest earned on their earnest money deposit. Which of the following statements is most correct? - correct answerThe firm cannot draft an es...
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Add to cartWhich of the following is NOT typically considered client funds? - correct answerSecurity deposits collected by a property owner 
 
A buyer wants to have the interest earned on their earnest money deposit. Which of the following statements is most correct? - correct answerThe firm cannot draft an es...
Transfer Fee - correct answerRound to the nearest hundred and multiply by .003. 
 
Bundle of Rights - correct answerRights & interest of having title such as possession, control, exclusion, sell, and of enjoyment. 
 
Real Property - correct answerGoes with the property. Generally immovable. 
 
Chatt...
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Add to cartTransfer Fee - correct answerRound to the nearest hundred and multiply by .003. 
 
Bundle of Rights - correct answerRights & interest of having title such as possession, control, exclusion, sell, and of enjoyment. 
 
Real Property - correct answerGoes with the property. Generally immovable. 
 
Chatt...
Antitrust laws - correct answerlaws that make it illegal to conspire to restrain trade or the free flow of goods and services in a marketplace 
 
Buyer agency agreement - correct answera written employment agreements that creates an agency relationship between a broker and a buyer. They buyer employ...
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Add to cartAntitrust laws - correct answerlaws that make it illegal to conspire to restrain trade or the free flow of goods and services in a marketplace 
 
Buyer agency agreement - correct answera written employment agreements that creates an agency relationship between a broker and a buyer. They buyer employ...
The listing broker is the seller's - correct answeragent 
 
A licensee writes an offer for a buyer on the licensee's listing. The buyer is the licensee's - correct answercustomer 
 
When a firm is representing only one side of the transaction, the firm is practicing what type of agency? - correct...
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Add to cartThe listing broker is the seller's - correct answeragent 
 
A licensee writes an offer for a buyer on the licensee's listing. The buyer is the licensee's - correct answercustomer 
 
When a firm is representing only one side of the transaction, the firm is practicing what type of agency? - correct...
Answer: C 
The writ of execution is a court order instructing the officer of the court to carry out the decision of the court. It is used in a judgment where the sheriff is told to seize a debtor's property so that it can be sold to pay off a debt. - correct answerAll of the following would be cons...
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Add to cartAnswer: C 
The writ of execution is a court order instructing the officer of the court to carry out the decision of the court. It is used in a judgment where the sheriff is told to seize a debtor's property so that it can be sold to pay off a debt. - correct answerAll of the following would be cons...
Salespeople can use which of the following forms: - correct answera form prepared and approved by the Department 
 
Which of the following statements is true of property held in joint tenancy? - correct answerIf a joint tenant dies, the surviving tenant or tenants receive the interest of the decease...
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Add to cartSalespeople can use which of the following forms: - correct answera form prepared and approved by the Department 
 
Which of the following statements is true of property held in joint tenancy? - correct answerIf a joint tenant dies, the surviving tenant or tenants receive the interest of the decease...
Which contract is used when one party agrees to use the real estate of another in exchange for periodic payments? - correct answerA lease 
 
What is a lessor's future interest in a property called? - correct answerA reversionary interest 
 
Which of the following is not a government power? - correc...
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Add to cartWhich contract is used when one party agrees to use the real estate of another in exchange for periodic payments? - correct answerA lease 
 
What is a lessor's future interest in a property called? - correct answerA reversionary interest 
 
Which of the following is not a government power? - correc...
A promise made, usually by a buyer, to purchase a seller's property under certain terms. - correct answeroffer to purchase 
 
Up front cash or item of value from the potential buyer which indicates their intention to make good on their offer to purchase. - correct answerearnest money 
 
The right o...
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Add to cartA promise made, usually by a buyer, to purchase a seller's property under certain terms. - correct answeroffer to purchase 
 
Up front cash or item of value from the potential buyer which indicates their intention to make good on their offer to purchase. - correct answerearnest money 
 
The right o...
A way of terminating the rights of the parties under a contract whereby the parties act as if the contract never existed and forfeit their right to sue. - correct answerRescission 
 
Uninterrupted chain of events which lead to the sale. - correct answerProcurement 
 
The broker will earn their commi...
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Add to cartA way of terminating the rights of the parties under a contract whereby the parties act as if the contract never existed and forfeit their right to sue. - correct answerRescission 
 
Uninterrupted chain of events which lead to the sale. - correct answerProcurement 
 
The broker will earn their commi...
The seller of realty under a land contract. - correct answervendor 
 
Financing that does not give the lender the added security of a government guarantee or insurance. - correct answerconventional financing 
 
Loan programs that are either insured or guaranteed by the federal government. - correct ...
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Add to cartThe seller of realty under a land contract. - correct answervendor 
 
Financing that does not give the lender the added security of a government guarantee or insurance. - correct answerconventional financing 
 
Loan programs that are either insured or guaranteed by the federal government. - correct ...
The statute requiring all contracts which transfer an interest in real estate to be in writing, state the date, describe the property, state the terms of payment, and be signed by the party incurring the debt. - correct answerstatute of frauds 
 
A contract created between parties as evidenced by th...
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Add to cartThe statute requiring all contracts which transfer an interest in real estate to be in writing, state the date, describe the property, state the terms of payment, and be signed by the party incurring the debt. - correct answerstatute of frauds 
 
A contract created between parties as evidenced by th...
A physical or mental impairment that substantially limits one or more major life activities, a record of having such an impairment or being regarded as having such an impairment. - correct answerdisability 
 
A person's religious or spiritual beliefs and practices, or his or her denominational affi...
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Add to cartA physical or mental impairment that substantially limits one or more major life activities, a record of having such an impairment or being regarded as having such an impairment. - correct answerdisability 
 
A person's religious or spiritual beliefs and practices, or his or her denominational affi...
A conveyance by a minor - correct answerMust be executed by an authorized guardian 
 
Adverse possession occurs if the use of the land is - correct answerActual and open 
 
The only way that an agent may sign a conveyance for another is if - correct answerThe agent has written authorization from the...
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Add to cartA conveyance by a minor - correct answerMust be executed by an authorized guardian 
 
Adverse possession occurs if the use of the land is - correct answerActual and open 
 
The only way that an agent may sign a conveyance for another is if - correct answerThe agent has written authorization from the...
Broker Alex, who has an agreement to list Lisa's house, finds a buyer that is ready, willing and able to purchase Lisa's home. Lisa accepts the buyer's offer, but a week later decides she doesn't really want to move and withdraws her acceptance Alex : - correct answeris entitled to collect a com...
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Add to cartBroker Alex, who has an agreement to list Lisa's house, finds a buyer that is ready, willing and able to purchase Lisa's home. Lisa accepts the buyer's offer, but a week later decides she doesn't really want to move and withdraws her acceptance Alex : - correct answeris entitled to collect a com...
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