Real Estate Wisconsin State Exam questions with correct answers

Broker Alex, who has an agreement to list Lisa's house, finds a buyer that is ready, willing and able to purchase Lisa's home. Lisa accepts the buyer's offer, but a week later decides she doesn't really want to move and withdraws her acceptance Alex : CORRECT ANSWER is entitled to collect a commission. If a real estate company has agency agreements with both a seller and a buyer, and the buyer wants to make an offer on the seller's property, is this legal under Wisconsin license law? CORRECT ANSWER Yes, if the buyer and seller give informed and written consent to dual agency. Susan's listing agreement with Alex has expired, so Alex lists his property with Lisa. Then Susan finds a buyer that is interested in Alex's property. Susan: CORRECT ANSWER cannot tell the buyers about any offers that Alex received while the property was listed with her. Lauren is working with the Douglas family to help them find their home. She succeeds, and the Douglas family ask Lauren if she can help them find a mortgage. Lauren knows a lender that pays a fee for referring purchasers to them. Can Lauren refer the Douglas family to this lender? CORRECT ANSWER Yes, if she discloses the referral fee to the sellers and the Douglas family and has their consent. Stephen calls Armonk Realty, saying he wants to buy a home in the area. Without entering into a buyer agency relationship with Stephen, a salesperson from the real estate office can do all of the following EXCEPT: CORRECT ANSWER inform the seller's of Stephen's financial status. Explaining agency agreements, mortgage rates and terms and providing information on pro