WRA Final Exam Questions and
Answers 100% Solved | Graded A+
Which of the following statements is true of property held in joint tenancy? -
✔✔If a joint tenant dies, the surviving tenant or tenants receive the interest
of the deceased joint tenant
Which of the following situations requires a written earnest money
disbursement agreement prior to disbursement of funds when the earnest
money is held by the listing firm? - ✔✔A buyer is not able to obtain
financing
If the buyer would like the buyer's firm to be paid by the seller, the buyer: -
✔✔must authorize the payment of commission from seller to buyer's firm in
the buyer agency agreement
An offer is written and subsequently rejected. The buyer gave earnest
money with the offer. What would be the proper procedure to return the
earnest money? - ✔✔The earnest money can be returned to the buyer.
A licensee offers payment for a buyer's home inspection. What is this offer
from the licensee to the buyer called? - ✔✔An incentive
1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, Which of the following is NOT a duty owed to a customer? - ✔✔Disclosure
of material facts
Which of the following real estate licensee is NOT required to ensure
compliance with the federal LBP disclosure law? - ✔✔A buyer's firm paid
by the buyer - This term does not apply to purchasers or any purchaser's
representative who receives all compensation from the purchaser.
A selling agent has given the buyer information on the real estate market
and suggested a purchase price for the buyer's offer. The selling agent has
likely created what type of agency with the buyer? - ✔✔Implied
A property protected under the WB-36 Buyer Agency Agreement Extension
of Agreement Term is protected for how long after the expiration of the
contract? - ✔✔ONE YEAR
When renting commercial property to tenants, the property owner or
property manager: - ✔✔needs to be aware of any local equal opportunity
ordinances that may affect commercial or industrial properties
A licensee who is writing an offer for a buyer-customer on another firm's
listing is a: - ✔✔selling licensee
The duties to all parties include all of the following EXCEPT: -
✔✔Negotiation
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
Answers 100% Solved | Graded A+
Which of the following statements is true of property held in joint tenancy? -
✔✔If a joint tenant dies, the surviving tenant or tenants receive the interest
of the deceased joint tenant
Which of the following situations requires a written earnest money
disbursement agreement prior to disbursement of funds when the earnest
money is held by the listing firm? - ✔✔A buyer is not able to obtain
financing
If the buyer would like the buyer's firm to be paid by the seller, the buyer: -
✔✔must authorize the payment of commission from seller to buyer's firm in
the buyer agency agreement
An offer is written and subsequently rejected. The buyer gave earnest
money with the offer. What would be the proper procedure to return the
earnest money? - ✔✔The earnest money can be returned to the buyer.
A licensee offers payment for a buyer's home inspection. What is this offer
from the licensee to the buyer called? - ✔✔An incentive
1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, Which of the following is NOT a duty owed to a customer? - ✔✔Disclosure
of material facts
Which of the following real estate licensee is NOT required to ensure
compliance with the federal LBP disclosure law? - ✔✔A buyer's firm paid
by the buyer - This term does not apply to purchasers or any purchaser's
representative who receives all compensation from the purchaser.
A selling agent has given the buyer information on the real estate market
and suggested a purchase price for the buyer's offer. The selling agent has
likely created what type of agency with the buyer? - ✔✔Implied
A property protected under the WB-36 Buyer Agency Agreement Extension
of Agreement Term is protected for how long after the expiration of the
contract? - ✔✔ONE YEAR
When renting commercial property to tenants, the property owner or
property manager: - ✔✔needs to be aware of any local equal opportunity
ordinances that may affect commercial or industrial properties
A licensee who is writing an offer for a buyer-customer on another firm's
listing is a: - ✔✔selling licensee
The duties to all parties include all of the following EXCEPT: -
✔✔Negotiation
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
