Wyoming real estate Tests Bundle Set

A responsible broker must secure which of the following to renew his license: a. 2 hours titled real estate law b. 4 hours titled real estate economics c. 8 hours titled broker management d. 4 hours titled business ethics CORRECT ANSWER c. 8 hours titled broker management If a buyer gives a l...

How many hours of continuing education does the Wyoming Sale associate or broker associate have to acquire during each (3) year period? a. 20 b. 45 c. 12 d. 24 CORRECT ANSWER b. 45 Listing in this state must meet all of the following requirements, EXCEPT: a. containing a definite expiration ...

the real estate license would be required by all of the following EXCEPT: a. a friend rents his neighbors house for a fee. b. an auctioneer holding a land sale in conjunction with a resident broker c. a guardian selling a minor's real property. d. a person unsuccessful in collecting rents. COR...

The purpose of Wyoming's license law is to: a. arbitrate disputes regarding commissions b. protect the public c. provide the recovery fund with a revenue stream d. standardize the rate of commission for residential real estate transactions CORRECT ANSWER b. protect the public Wyoming real es...

Means having importance, relevance or consequence to a person making a decision regarding the purchase, sale or lease of real estate. CORRECT ANSWER Interest in the transaction You must have a trust account for CORRECT ANSWER Each area of business must have a separate trust account A provision...

What is a fee claimed for a listing, advertisement or offer to sell or lease real estate CORRECT ANSWER Advance fee What is the maximum liability of an insured for a series of losses in a given period of time CORRECT ANSWER Aggregate limit An individual who is qualified to act under a responsi...

A: A law which requires individuals desiring to practice law to obtain a state licence. E: A public law regulates behavior, the practice of law, which directly concerns the government, through the legal system. Pg. 3 CORRECT ANSWER Q: Which of the following would be an example of a public law? ...

Notes are said to be negotiable and non-negotiable. Which of the following best defines a negotiable note? CORRECT ANSWER If a note is secured by a mortgage the note is negotiable but the mortgage is non-negotiable. The maker signs a note and the payee endorses it. Buyer gives seller a purchase m...

How much will the seller receive at closing? CORRECT ANSWER $244,045.02 How much will the buyer pay for points? CORRECT ANSWER $4,725.00 What is the buyer's share of the existing hazard insurance already paid in full? CORRECT ANSWER $232.05 What is the buyer's prepaid interest? CORRECT AN...

A broker obtained an offer with a deposit from a buyer on June 10, 2008, which states that the offer was irrevocable for five days from date. There had been no acceptance by the next day when the buyer called and revoked his offer. The broker should: get an acceptance by June 15th. get an accep...

It is a violation for agent to inform buyer that seller will accept less CORRECT ANSWER false how long must a structural termite report be kept on file by the structural pest control board CORRECT ANSWER 2 years a buyer who does not have an re license may make a secret profit without violating...

b. the fees are collected to pay appraisal and credit report fees and any excess funds are immediately refunded to the borrower. CORRECT ANSWER A broker does not need prior DRE approval to charge an advance fee when: a. the fees are under $50. b. the fees are collected to pay appraisal and cre...