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WRA Final Exam Review Questions with verified solutions | Already Passed
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WRA Final Exam Review Questions with verified solutions | Already Passed
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WRA Final Exam Review Questionswith verified solutions | Already
Passed
According to the terms of the extension of leasing section of the WB - 1 residential listing
contract, buyers are protected for what time frame? ✔✔One year
According to the terms of the WB - 1 residential listing contract, assuming a broker has taken all of the
proper steps, which of the following is a protected buyer? ✔✔A buyer who attended an individual
showing.
If the buyer would like the buyer's broker to be paid by the seller: ✔✔The buyer should authorize
the direct payment of commission from seller to buyer broker in the buyer agency agreement.
A buyer's agent is representing two separate buyers. Each buyer is interested in the same property. How
should the buyer agent proceed? ✔✔The licensee should draft competing offers on the behalf of each
buyer.
In the event a seller on literally cancels the listing contract before its expiration date, a listing broker
may do which of the following? ✔✔Demand compensation for the damages sustained as a result.
,To avoid a price - fixing violation, which of the following statement is true? Licensees must always avoid
Communications with other Brokers relating to: ✔✔1. Commission rates charged to Consumers. 2.
Rates paid to other Brokers for cooperative commissions. 3. Compensation paid to salespersons.
Most commonly, price - fixing is in violation of: ✔✔Antitrust
A seller counters a buyer's offer. Upon rejection of the counter offer, the seller still acting within the
original time frame for binding acceptance, accepts and delivers the original offer to the buyer. At
this point: ✔✔A sales contract does not exist.
According to the WB - 11 residential offer to purchase who is responsible to pay special assessment
levied against a seller's property after the date of the offer but prior to its acceptance? ✔✔Buyer
Regarding earnest money, if a seller does not accept an offer, the listing broker MUST: ✔✔Promptly
disperse the money to the person who paid the money.
Refer to the transactional story problem on the introduction page of the final exam to answer the
following question. We're on the WB - 11 residential offer to purchase the Scott Frey insert the date
March 28th at 7 o'clock p.m.? ✔✔Line 28
Refer to the transactional story problem on the introduction page of the final exam to answer the
following question. What information does the buyer place and lines 15-16 on the WB - 11 residential
offer to purchase? ✔✔Washer, dryer, refrigerator
, Refer to the transactional story problem on the introduction page of the final exam to answer the
following question. Where on the WB - 11 residential offer to purchase does Scott free insert the
$5,000? ✔✔The first blank on-line 10
The " bump clause" time frame does not begin to run until the: ✔✔Buyers actual receipt of the notice.
If a buyer wishes to give a notice of defects, the buyer MUST provide: ✔✔A copy of the home
inspectors Report with the notice of defects.
Refer to the transactional story problem on the introduction page of the final exam to answer the
following question. Where on the WB - 11 residential offer to purchase does Scott Frey insert the
date April 30th? ✔✔Line 116
Acceptance occurs when all: ✔✔Buyers and sellers have signed an identical copy of the offer.
Deadlines expressed as a number of days from an event, such as acceptance, are calculated by excluding
the day of the event occurred and by counting subsequent calendar days. When does acceptance occur?
✔✔When all parties have signed a copy of the offer to purchase.
If a buyer has property given a notice of defects and the seller does NOT have the right to cure, what is
the status of the contract? ✔✔Null and void
If there is a rented fixture in the home that is listed and a buyer wishes to write an offer, a licensee
should: ✔✔Address it in the offer to purchase.
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