WI Real Estate Sales Exam questions with correct 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.