Exam (elaborations)
WI Real Estate Practice Exam Questions and Answers 2024 / 2025 (Verified Answers by Expert)
- Course
- Institution
WI Real Estate Practice Exam Questions and Answers 2024 / 2025 (Verified Answers by Expert)
[Show more]
Content preview
WI Real Estate Practice Exam.pdf file:///C:/Users/HP/Desktop/eewwww/WI%20Real%20Estate%20PraWI Real Estate Practice Exam
1. All of the following would be considered an ENCUMBRANCE except:
a. unpaid property taxes,
b. An easement necessity,
c. A writ of execution,
d. A judgment:
Answer: C
The writ of execution is a court order instructing the officer of the court to carry outthe decision
of the court. It is used in a judgment where the sheriff is told to seize adebtor's property so that
it can be sold to pay off a debt.
2. Which of the following liens take priority prior to recording in publicrecords?
a. Construction lien
b. Special assessment lien,
c. Tax lien,
d. Mortgage lien:
Answer: A
1/8
1 of 23 8/2/2024, 4:59
,WI Real Estate Practice Exam.pdf file:///C:/Users/HP/Desktop/eewwww/WI%20Real%20Estate%20Pra
A construction lien is given as security to those who perform labor or furnish materialor
professional services in the improvement of real property. Construction liens establish priority
from the date the first visible work commenced on the property.
3. Which of the following is most likely determined by the overall value of theproperty?
a. Property taxes
b. Special assessments
c. Judgment lien
d. Mortgage lien:
Answer A:
Property taxes are calculated according to the value of the property. Special assess- ments are
generally apportioned according to benefits received, rather than by the value of the land and
buildings being assessed.
4. The sellers are closing on their property tomorrow.They may remove all ofthe
following property from the house, except the:
a. Mirror hanging on a nail on the wall,
b. Master bedroom curtains and valances,
c. Dog kennel sitting in the backyard,
d. Rented water softener:
2/8
2 of 23 8/2/2024, 4:59
,WI Real Estate Practice Exam.pdf file:///C:/Users/HP/Desktop/eewwww/WI%20Real%20Estate%20Pra
Answer: D
The water softener is attached to the property and is treated as a fixture unlessotherwise
stated in the offer to purchase.
5. Which of the following does not meet the definition of a homestead?
a. Condominium,
b. 30-acre farmette,
c. Warehouse,
d. Single-family home:
Answer: C
3/8
3 of 23 8/2/2024, 4:59
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller TIPSCORE. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79650 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now