Wra review questions - Study guides, Class notes & Summaries

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. ...

Which of the following is a duty ONLY to a client? Loyalty represents interest. Which of the following Services should NOT be performed for a buyer customer? Creating a market analyst of the property the buyer wishes to purchase. Which of the following would a buyer's broker NOT be required to disclose to their client buyer? That the sellers are getting divorced and need to sell the house quickly. Without the written consent of supervising broker, agents have the authority to do which of t...

Which of the following is a duty ONLY to a client? Loyalty represents interest. Which of the following Services should NOT be performed for a buyer customer? Creating a market analyst of the property the buyer wishes to purchase. Which of the following would a buyer's broker NOT be required to disclose to their client buyer? That the sellers are getting divorced and need to sell the house quickly. Without the written consent of supervising broker, agents have the authority to do which of ...

WRA Final Exam Review questions and answers

WRA Final Exam Review Questions and Answers. 100% Correct A buyers uses a buyers licensee to draft an offer. The WB-11 residential offer to purchase directs the buyer's licensee to make the earnest money check payable to the: A. Buyers firms trust account B: selling firms trust account C: sellers account D: Listing firms trust account - Correct answer listing firms trust account "Which of the following is the type of agency model where the firm represents just the seller in the tr...

Which of the following is a duty ONLY to a client? - Loyalty represents interest. Which of the following Services should NOT be performed for a buyer customer? - Creating a market analyst of the property the buyer wishes to purchase. Which of the following would a buyer's broker NOT be required to disclose to their client buyer? - That the sellers are getting divorced and need to sell the house quickly. Without the written consent of supervising broker, agents have the authori...

Four condominium units are valued at $200,000; $215,000, $220,000; and $225,000. Together the annual property maintenance fees for the condominiums are $8,500. What is the total value of the units? A: $868,500 B: $465,000 C: $415,000 D: $860,000 - D: $860,000 The total value of the four condominiums is $860,000 An appraisal would most likely be used in all of the following transactions or situations EXCEPT: A: originating a mortgage or home equity loan B: subletting an apartment un...

WRA Final Exam Review Questions and Answers. 100% Correct Which of the following is a duty ONLY to a client? - Correct answer Loyalty represents interest." "Which of the following Services should NOT be performed for a buyer customer? - Correct answer Creating a market analyst of the property the buyer wishes to purchase." "Which of the following would a buyer's broker NOT be required to disclose to their client buyer? - Correct answer That the sellers are getting divorced and ne...

What rights to property come with ownership? - Control; 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? - Survivorship marital property. A special form of joint tenancy with right of survivorship. Just for married people. What are some examples of encumbrances? - Easement; Liens; Encroachments; Property taxes and Special assessments. What type of interest is...

WRA Final Exam Review Questions with verified solutions | Already Passed