WI Real Estate Sales Exam Prep 2026/2027
– Practice Questions & Answers
The listing broker is the seller's - correct answer-agent
A licensee writes an offer for a buyer on the licensee's listing. The buyer is the
licensee's - correct answer-customer
When a firm is representing only one side of the transaction, the firm is practicing
what type of agency? - correct answer-Single agency
Multiple Representation may only occur if - correct answer-there is full written
consent and disclosure from all parties
A broker shall provide a copy of the disclosure form to a client: - correct answer-
no later than the time of agency agreement
Agency disclosure is required in what types of real estate transactions? - correct
answer-All
,When acting as a buyer's agent, the agency relationship must be disclosed by the
earlier of: - correct answer-first contact, showing, negotiation w/seller or listing
broker
What are the agency disclosure requirements, including a buyer's
acknowledgment of the disclosure, for a buyer intending to purchase a duplex
versus a buyer intending to purchase a commercial warehouse? - correct answer-
Give disclosure for both. Need acknowledgment for residential, not commercial.
A property manager is showing a unit to a prospective tenant, In what situations
would a property manager need to be licensed? - correct answer-If signing leases
on behalf of landlord.
A licensee is representing a family member in the purchase of property. At
minimum, where would the licensee disclose this information to the other party?
- correct answer-On the offer to purchase.
What types of referral fees may be paid or received without disclosure to the
parties in a real estate transaction? - correct answer-R.E. licensee to R.E. licensee
When must a licensee, selling personally owned property, disclose to the buyer
his licensed status? - correct answer-First contact, first showing, negotiation
Tie in arrangements are legal under what circumstances? - correct answer-builder
involved
An unlicensed personal assistant can be employed by: - correct answer-Any
licensee in firm, sales employee
, If an agent agrees to write an offer on a property for a buyer only if the buyer
then agrees to list his current property with that agent, that would be an illegal -
correct answer-tie-in
Which agency duty survives the transaction? - correct answer-Confidentiality
What are the additional duties to a client? - correct answer-N-negotiation
O-obligation
L-loyalty
I-information
D- disclosure of material facts
What are the duties owed to all persons in a transaction? - correct answer-S-
safeguard
H-honesty
O-objective
C-confidentiality
A-accurate information
R-reasonable skill and care
D- disclosure of adverse material facts
Under a multiple representation relationship with designated agency to whom
will each salesperson provide information, opinions, and advice? - correct
answer-To the client for whom they are negotiating
– Practice Questions & Answers
The listing broker is the seller's - correct answer-agent
A licensee writes an offer for a buyer on the licensee's listing. The buyer is the
licensee's - correct answer-customer
When a firm is representing only one side of the transaction, the firm is practicing
what type of agency? - correct answer-Single agency
Multiple Representation may only occur if - correct answer-there is full written
consent and disclosure from all parties
A broker shall provide a copy of the disclosure form to a client: - correct answer-
no later than the time of agency agreement
Agency disclosure is required in what types of real estate transactions? - correct
answer-All
,When acting as a buyer's agent, the agency relationship must be disclosed by the
earlier of: - correct answer-first contact, showing, negotiation w/seller or listing
broker
What are the agency disclosure requirements, including a buyer's
acknowledgment of the disclosure, for a buyer intending to purchase a duplex
versus a buyer intending to purchase a commercial warehouse? - correct answer-
Give disclosure for both. Need acknowledgment for residential, not commercial.
A property manager is showing a unit to a prospective tenant, In what situations
would a property manager need to be licensed? - correct answer-If signing leases
on behalf of landlord.
A licensee is representing a family member in the purchase of property. At
minimum, where would the licensee disclose this information to the other party?
- correct answer-On the offer to purchase.
What types of referral fees may be paid or received without disclosure to the
parties in a real estate transaction? - correct answer-R.E. licensee to R.E. licensee
When must a licensee, selling personally owned property, disclose to the buyer
his licensed status? - correct answer-First contact, first showing, negotiation
Tie in arrangements are legal under what circumstances? - correct answer-builder
involved
An unlicensed personal assistant can be employed by: - correct answer-Any
licensee in firm, sales employee
, If an agent agrees to write an offer on a property for a buyer only if the buyer
then agrees to list his current property with that agent, that would be an illegal -
correct answer-tie-in
Which agency duty survives the transaction? - correct answer-Confidentiality
What are the additional duties to a client? - correct answer-N-negotiation
O-obligation
L-loyalty
I-information
D- disclosure of material facts
What are the duties owed to all persons in a transaction? - correct answer-S-
safeguard
H-honesty
O-objective
C-confidentiality
A-accurate information
R-reasonable skill and care
D- disclosure of adverse material facts
Under a multiple representation relationship with designated agency to whom
will each salesperson provide information, opinions, and advice? - correct
answer-To the client for whom they are negotiating
