Wyoming real estate Test questions with correct answers

A responsible broker must secure which of the following to renew his license: a. 2 hours titled real estate law b. 4 hours titled real estate economics c. 8 hours titled broker management d. 4 hours titled business ethics CORRECT ANSWER c. 8 hours titled broker management If a buyer gives a licensee an earnest money deposit and wants it deposited in an interest-bearing account, the Responsible broker should place the deposit: a. in a certificate of deposits at current interest rates. b. in a person interest-bearing account. c. in an interest-bearing account identified as "Interest-bearing account for (buyer's name)". d. in an interest-bearing demand sales trust account. CORRECT ANSWER d. in an interest-bearing demand sales trust account. According to the Real Estate License Act: a. a responsible broker must place deposits in his trust account or with a funds holder within one banking day of receipt. b. a responsible broker must place deposits in his trust account or with a funds holder within one day of acceptance of the offer by the seller. c. a salesperson must place deposits in his broker's trust account immediately. d. a salesperson working for a cooperating broker must place deposits in his brother's trust account. CORRECT ANSWER a. a responsible broker must place deposits in his trust account or with a fun