Exam (elaborations)
WI Real Estate Sales Exam Latest Questions With 100% Correct Answers!!
- Course
- Institution
WI Real Estate Sales Exam Latest Questions With 100% Correct Answers!!
[Show more]
Content preview
Name: Score:136 Multiple choice questions
Term 1 of 136
when can a licensee refuse to draft or submit any offer?
When the offer doesn't coincide with the instructions of the seller (put in writing)
When the buyer is not pre-approved for financing.
When the seller is out of town.
When the property is listed as 'not for sale'.
Term 2 of 136
During a land contract, what type of title does the seller hold? What type of title does the buyer
hold?
Substitution
Survivorship martial property
joint ownership/joint tenants
Vendors-S- legal title
Vendee- B- equitable title
Disposition encumber exclude Possession Quiet enjoyment control
Term 3 of 136
When acting as a buyer's agent, the agency relationship must be disclosed by the earlier of:
only after the purchase agreement is signed
at the time of closing the deal
first contact, showing, negotiation w/seller or listing broker
when the buyer makes an offer
,Term 4 of 136
After a borrow pays off a loan, what should he expect to be recorded by the lender?
Deed in lieu of foreclosure
Deed of reconveyance
Satisfaction of mortgage
Abstract of title
Term 5 of 136
How is a counter offer numbered?
Holistically
Substitution
Numerically
Sequentially
Term 6 of 136
What type of listing contract is illegal in Wisconsin?
Net lease
Net listing
Block busting
Exclusive agency listing
,Term 7 of 136
If a property has a market value of $175,000 and is assessed at 97% of its value, what is the
assessed value?
$175,000
$150,000
$180,000
$169,750
Term 8 of 136
The purchaser of a condominium must receive the disclosure documents no later than:
15 days prior to closing
30 days after closing
immediately after the purchase agreement is signed
at the time of the first inspection
Term 9 of 136
What type of agency relationship gives an agent the authority to represent a principal in more
than one transaction?
General Lien
General Agency
Single Agency
Express Agency
, Term 10 of 136
Give an example of a unilateral contract:
Warranty deed
Option to purchase
Specific performance
Offer to purchase
Term 11 of 136
On what line of the WB-1 REsidential Listing Contract states that the buyer may accompany
inspectors?
Line 191
Line 171
Line 201
Line 181
Term 12 of 136
A seller becomes aware of a defect after an Offer to Purchase has been accepted. Does the seller
have to amend the Real Estate Condition Report and deliver a copy to the buyer?
Nonconforming use
No (5% discussion)
7 days (Line 36)
Buyer (whomever paid)
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 Aplusplus. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now