Wra real estate exam - Study guides, Class notes & Summaries

WRA LICENSING EXAM Questions And Answers (Verified And Updated) A seller signs a listing contract with a firm. Who is the agent and who is the principal? - answerThe seller is the principal. The firm is the agent. A buyer asks a listing agent to draft an offer. The buyer does not sign a buyer agency agreement. Is the buyer a customer or a client? - answerhe buyer is a customer. What kind of agency is a firm practicing if the firm represents just one party in the transaction? - answerSingl...

WRA EXAM QUESTIONS & ANSWERS | LATEST UPDATE The WB-11 Residential Offer to Purchase describes which of the following as the way an earnest money payment should be handled as a result of a sale involving cooperating firms? - ANSWER : The selling licensee should have all earnest money checks paid directly to the listing firm... Explanation: The Earnest Money section of the offer states: "Unless otherwise agreed, earnest money shall be paid to and held in the trust account of the ...

WRA FINAL EXAM QUESTIONS and ANSWERS VERIFIED Rated 100% 2023/2024. Amenities ANSWER : Features of a property that add value or desirability. Can be either tangible, such as a skylight, or intangible, such as an ocean view American with Disabilities Act (ADA) ANSWER : A federal law designed to eliminate discrimination against individuals with disabilities by mandating equal access to jobs, public accommodations, government services, public transportation, and telecommunications Amortizati...

WRA Review Exam Questions With 100% Verified Answers A seller signs a listing contract with a firm. Who is the agent and who is the principal? - answerThe seller is the principal. The firm is the agent. A buyer asks a listing agent to draft an offer. The buyer does not sign a buyer agency agreement. Is the buyer a customer or a client? - answerThe buyer is a customer. What kind of agency is a firm practicing is the firm represents just one party in the transaction? - answerSingle agency. ...

WRA FINAL EXAM QUESTIONS WITH VERIFIED ANSWERS 2023/2024. American with Disabilities Act (ADA) ANSWER : A federal law designed to eliminate discrimination against individuals with disabilities by mandating equal access to jobs, public accommodations, government services, public transportation, and telecommunications Amortization ANSWER : The gradual paying of a debt through systematic payments of principal and interest over a predetermined period of time Ancestry ANSWER : A person's rac...

WRA FINAL EXAM QUESTIONS WITH COMPLETE ANSWERS | VERIFIED 2023/2024. 0-Bedroom Dwelling ANSWER : Any residential dwelling in which the living area is not separated from the sleeping area Abstract of Title ANSWER : A condensed history of a property's title showing, in chronological sequence, matters such as conveyances, liens, and encumbrances that have been recorded against the title in the office of the register of deeds or other public recording place Acceleration Clause ANSWER : A cla...

WRA Pre Exam Review Questions And Answers (Verified And Updated) What rights to property come with ownership? - answerControl; Disposition; Quiet enjoyment; Encumber; Exclude; Possession. What form of ownership allows title to a deceased spouse's property to pass to the surviving spouse without probate? - answerSurvivorship marital property. A special form of joint tenancy with right of survivorship. Just for married people. What are some examples of encumbrances? - answerEasement; Liens...

WRA LICENSING EXAM Questions And Answers (Verified And Updated) A seller signs a listing contract with a firm. Who is the agent and who is the principal? - answerThe seller is the principal. The firm is the agent. A buyer asks a listing agent to draft an offer. The buyer does not sign a buyer agency agreement. Is the buyer a customer or a client? - answerhe buyer is a customer. What kind of agency is a firm practicing if the firm represents just one party in the transaction? - answerSingl...

WRA Review Exam Questions With 100% Verified Answers A seller signs a listing contract with a firm. Who is the agent and who is the principal? - answerThe seller is the principal. The firm is the agent. A buyer asks a listing agent to draft an offer. The buyer does not sign a buyer agency agreement. Is the buyer a customer or a client? - answerThe buyer is a customer. What kind of agency is a firm practicing is the firm represents just one party in the transaction? - answerSingle agency. ...

0-Bedroom Dwelling - Any Residentaial dwelling in which the living area is not separated from the sleeping area. Abstract of Title - a condensed history of the title to a particular piece of realestate showing, in chronological sequence, matters such as conveyances, liens, and the encumbrances which have been recorded against the title in the office of the register of deeds or other public place. Acceleration Clause - A clause within a mortgage, permitting the lender to accelerate...