WRA EXAMS SET VERIFIED QUESTIONS
AND ACCURATE ANSWERS COMPLETE
PREPARATION FILE
●● A buyer wants to have the interest earned on their earnest money
deposit. Which of the following statements is most correct?
A: The broker cannot draft an escrow agreement for the buyer and seller
B: The broker can give the interest to the buyer if the offer to purchase
states that the buyer gets the interest
C: The broker can give the interest to the buyer with written permission
from the seller
D: The broker cannot hold the earnest money but they may draft an
escrow agreement for the buyer and the seller
Question 46
Answer: a. the broker cannot draft an escrow agreement for the buyer
and seller
●● Question 47 XXX
Which of the following is NOT true regarding a sales licensee who
transfers employment:
,A: May not practice real estate, once leaving the original place of
employment, until the transfer application is deposited into the U.S.
postal service, postage fees prepaid or delivered in person
B: Must pay a fee accompanied with a Department of Safety and
Professional Services transfer form
C: Must deliver the transfer application within 10 days of transfer
D: Is not employed by the new broker until the transfer form has been
delivered
Answer: must deliver the transfer application within 10 days of transfer.
●● Question 48 XXX
After entering into a sales contract a seller discovers a defect on the
property, the:
A: buyer can direct the seller on how to repair the defect
B: contract becomes null and void at the buyer's discretion
C: seller must update the real estate condition report and give a copy to
the buyer
D: seller must comply with the terms of the sales contract
Answer: D: seller must comply with the terms of the sales contract
●● Question 49 XXX
,A listing agent has an accepted offer to purchase on a listing. Another
offer is being written and the buyer wants information about the existing
offer. What information can the listing agent share with the second
buyer?
A: The existing offer meets the seller's closing date requirement of July
15
B: The existing offer doesn't look very strong because the buyer is
trying to obtain a loan for 100% of the purchase price
C: The existing offer has a continued marketing clause
D: The seller is looking for secondary offers because the primary
buyer's offer contains a well and septic inspection contingency that seller
is suppose to pay for and the seller doesn't want to pay for the inspection
Answer: the existing offer has a continued marketing clause.
●● Question 50
Bob Buyer changed his mind about purchasing 456 Right Here Avenue.
He called his salesperson and said, "Please withdrawal my offer, I do not
wish to purchase 456 Right Here Avenue." The action taken by Bob
Buyer is called:
A: Breach of Contract
B: Revocation
, C: Counter-offer
D: Rejection
Answer: revocation
●● Question 55 XXX
What is the purpose of a deed?
A: It provides evidence of marketable title
B: It transfers legal title from a grantor to a grantee
C: It transfers title upon the death of a grantor
D: If delivered correctly it constitutes constructive notice
Answer: It transfers legal title from a grantor to a grantee.
●● Question 56
The market data approach when used by a licensee:
A: Replaces the need for an appraisal
B: Is an appraisal
C: Is an opinion of a property's value
AND ACCURATE ANSWERS COMPLETE
PREPARATION FILE
●● A buyer wants to have the interest earned on their earnest money
deposit. Which of the following statements is most correct?
A: The broker cannot draft an escrow agreement for the buyer and seller
B: The broker can give the interest to the buyer if the offer to purchase
states that the buyer gets the interest
C: The broker can give the interest to the buyer with written permission
from the seller
D: The broker cannot hold the earnest money but they may draft an
escrow agreement for the buyer and the seller
Question 46
Answer: a. the broker cannot draft an escrow agreement for the buyer
and seller
●● Question 47 XXX
Which of the following is NOT true regarding a sales licensee who
transfers employment:
,A: May not practice real estate, once leaving the original place of
employment, until the transfer application is deposited into the U.S.
postal service, postage fees prepaid or delivered in person
B: Must pay a fee accompanied with a Department of Safety and
Professional Services transfer form
C: Must deliver the transfer application within 10 days of transfer
D: Is not employed by the new broker until the transfer form has been
delivered
Answer: must deliver the transfer application within 10 days of transfer.
●● Question 48 XXX
After entering into a sales contract a seller discovers a defect on the
property, the:
A: buyer can direct the seller on how to repair the defect
B: contract becomes null and void at the buyer's discretion
C: seller must update the real estate condition report and give a copy to
the buyer
D: seller must comply with the terms of the sales contract
Answer: D: seller must comply with the terms of the sales contract
●● Question 49 XXX
,A listing agent has an accepted offer to purchase on a listing. Another
offer is being written and the buyer wants information about the existing
offer. What information can the listing agent share with the second
buyer?
A: The existing offer meets the seller's closing date requirement of July
15
B: The existing offer doesn't look very strong because the buyer is
trying to obtain a loan for 100% of the purchase price
C: The existing offer has a continued marketing clause
D: The seller is looking for secondary offers because the primary
buyer's offer contains a well and septic inspection contingency that seller
is suppose to pay for and the seller doesn't want to pay for the inspection
Answer: the existing offer has a continued marketing clause.
●● Question 50
Bob Buyer changed his mind about purchasing 456 Right Here Avenue.
He called his salesperson and said, "Please withdrawal my offer, I do not
wish to purchase 456 Right Here Avenue." The action taken by Bob
Buyer is called:
A: Breach of Contract
B: Revocation
, C: Counter-offer
D: Rejection
Answer: revocation
●● Question 55 XXX
What is the purpose of a deed?
A: It provides evidence of marketable title
B: It transfers legal title from a grantor to a grantee
C: It transfers title upon the death of a grantor
D: If delivered correctly it constitutes constructive notice
Answer: It transfers legal title from a grantor to a grantee.
●● Question 56
The market data approach when used by a licensee:
A: Replaces the need for an appraisal
B: Is an appraisal
C: Is an opinion of a property's value
