Wyoming Real Estate Master Actual Exam 2026 || Most Recent Exam
2026|2027 Actual Complete Real Exam Questions And Correct
Answers (Verified Answers) Already Graded A+ | Guaranteed
Success!! Newest Exam | Just Released!!
Balance -ANSWER-the appraisal principal stating that the greatest value
in a property will occur when the type and size of the improvements
are proportional to each other as well as the land
Balloon Payment -ANSWER-a final payment of a mortgage loan that is
considerably larger than the required periodic payments because the
loan amount was not fully amortized
Bargain and Sale Deed -ANSWER-a deed that carries with no warranties
against liens or other encumbrances but that does imply that the
grantor has the right to convey title. The grantor may add warranties to
the deed.
Base Line -ANSWER-the main imaginary line running east and west and
crossing a principal meridian at a definite point; used by surveyors for
reference in locating and describing land under the rectangular survey
system of legal description
density zoning -ANSWER-zoning ordinances that restrict the maximum
average number of housing units per acre that may be built within a
particular area, generally a sundivision
,Department of Housing and Urban Development (HUD) -ANSWER-
Federal Agency that has established rules and regulations that further
interpret that practices affected by federal law
depreciation -ANSWER-in appraisal. a loss of value in property due to
any cause, including physical deterioration, functional deterioration,
and external deterioration. In a real estate investment, a deduction for
tax purposes taken over the period of ownership of income property,
based on the properties acquisition cost
descent -ANSWER-acquisition of an estate by inheritance in which an
heir succeeds to the property by operation of law
designated agency -ANSWER-a process that accommodates an in house
sale in which two different agents are involved. The broker designated
one agent to represent the seller and one agent to represent the buyer
designated agent -ANSWER-a real estate professional authorized by a
broker to act as the agent for a specific principal in a particular
transaction
determinable fee estate -ANSWER-a fee simple estate providing that
the property returns to the original grantor or heirs when a specified
condition occurs, indicating that the property is no longer bring used
for the purpose prescribed
, discount point -ANSWER-a unit of measurement used for various loan
charges; one point equals 1% of the amount of the loan
discount rate -ANSWER-the interest rate set by the Fed that member
banks are charged when they borrow money through the Fed.
Dominant tenement -ANSWER-a property that includes in its ownership
the appurtenant right to use an easement over another persons
property for a specific purpose
dual agency -ANSWER-representing both parties to a transaction. This is
unethical unless both parties agree to it, and it is illegal in some states,
like Wyoming
Due-on-sale Clause -ANSWER-a provision in the mortgage stating that
the entire balance of the note is immediately due and payable if the
mortgagor transfers the property
duress -ANSWER-unlawful constraint or action exercised upon a person
whereby the person is forced to perform an act against her will. A
contract entered into under duress is voidable
easement appurtenant -ANSWER-an easement that follows along with
the land
2026|2027 Actual Complete Real Exam Questions And Correct
Answers (Verified Answers) Already Graded A+ | Guaranteed
Success!! Newest Exam | Just Released!!
Balance -ANSWER-the appraisal principal stating that the greatest value
in a property will occur when the type and size of the improvements
are proportional to each other as well as the land
Balloon Payment -ANSWER-a final payment of a mortgage loan that is
considerably larger than the required periodic payments because the
loan amount was not fully amortized
Bargain and Sale Deed -ANSWER-a deed that carries with no warranties
against liens or other encumbrances but that does imply that the
grantor has the right to convey title. The grantor may add warranties to
the deed.
Base Line -ANSWER-the main imaginary line running east and west and
crossing a principal meridian at a definite point; used by surveyors for
reference in locating and describing land under the rectangular survey
system of legal description
density zoning -ANSWER-zoning ordinances that restrict the maximum
average number of housing units per acre that may be built within a
particular area, generally a sundivision
,Department of Housing and Urban Development (HUD) -ANSWER-
Federal Agency that has established rules and regulations that further
interpret that practices affected by federal law
depreciation -ANSWER-in appraisal. a loss of value in property due to
any cause, including physical deterioration, functional deterioration,
and external deterioration. In a real estate investment, a deduction for
tax purposes taken over the period of ownership of income property,
based on the properties acquisition cost
descent -ANSWER-acquisition of an estate by inheritance in which an
heir succeeds to the property by operation of law
designated agency -ANSWER-a process that accommodates an in house
sale in which two different agents are involved. The broker designated
one agent to represent the seller and one agent to represent the buyer
designated agent -ANSWER-a real estate professional authorized by a
broker to act as the agent for a specific principal in a particular
transaction
determinable fee estate -ANSWER-a fee simple estate providing that
the property returns to the original grantor or heirs when a specified
condition occurs, indicating that the property is no longer bring used
for the purpose prescribed
, discount point -ANSWER-a unit of measurement used for various loan
charges; one point equals 1% of the amount of the loan
discount rate -ANSWER-the interest rate set by the Fed that member
banks are charged when they borrow money through the Fed.
Dominant tenement -ANSWER-a property that includes in its ownership
the appurtenant right to use an easement over another persons
property for a specific purpose
dual agency -ANSWER-representing both parties to a transaction. This is
unethical unless both parties agree to it, and it is illegal in some states,
like Wyoming
Due-on-sale Clause -ANSWER-a provision in the mortgage stating that
the entire balance of the note is immediately due and payable if the
mortgagor transfers the property
duress -ANSWER-unlawful constraint or action exercised upon a person
whereby the person is forced to perform an act against her will. A
contract entered into under duress is voidable
easement appurtenant -ANSWER-an easement that follows along with
the land
