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WRA EXAM QUESTIONS 2024/2025 Exam Questions and Answers | 100% Solved
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WRA EXAM QUESTIONS 2024/2025 Exam Questions and Answers | 100% Solved The WB-11 Residential Offer to Purchase describes which of the following as the way an earnest money payment should be handled as a result of a sale involving cooperating firms? -

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  • March 16, 2025
  • 52
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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WRA EXAM QUESTIONS 2024/2025
Exam Questions and Answers | 100%
Solved



The WB-11 Residential Offer to Purchase describes which of the following

as the way an earnest money payment should be handled as a result of a

sale involving cooperating firms? - 🧠 ANSWER ✔✔The selling licensee

should have all earnest money checks paid directly to the listing firm...

Explanation: The Earnest Money section of the offer states: "Unless

otherwise agreed, earnest money shall be paid to and held in the trust

account of the listing broker."

An appraisal would most likely be used in all of the following transactions or

situations EXCEPT: - 🧠 ANSWER ✔✔subletting an apartment unit.... Value

does not need to be established in order to sublet an apartment unit.

A buyer has an inspection contingency in the offer to purchase that does

not give the seller the right to cure. The home inspector finds a defect

during the inspection. The buyer would like the seller to repair the defect

according to the buyer's specifications. If the seller does not want to repair



COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
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STATEMENT. ALL RIGHTS RESERVED

,the defect as specified by the buyer then the buyer is no longer interested

in purchasing the property. How would you accomplish this for the buyer? -

🧠 ANSWER ✔✔Deliver an amendment to the seller specifying the repairs

that must be made and if the seller does not agree then deliver a notice of

defects. ...Explanation: Because the seller does not have the right to cure,

delivering a notice of defects will terminate the offer. The buyer should first

try and negotiate the repairs by amending the offer. If the seller does not

agree to the amendment, then issuing the notice will terminate the offer.

Which of the following would violate advertising rules for real estate

licensees? - 🧠 ANSWER ✔✔Advertising a property that has already been

sold. ...Explanation: Wis. Admin. Code § REEB 24.04(1) states, "Licensees

shall not advertise in a manner which is false, deceptive, or misleading."

At closing, the seller needs to give a credit to the buyer for property taxes.

Last year's taxes were $3,700 and there are 242 days from the first of the

year through the day of closing. How much will the buyer's tax credit be? -

🧠 ANSWER ✔✔$2,443.02... Explanation: $3, day year =

$10.1370 daily proration. $10.1370 x 241 days between January 1 and the

day prior to closing = $2,443.02.




COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
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STATEMENT. ALL RIGHTS RESERVED

,The right of a governmental body to take ownership of real estate for public

use is called: - 🧠 ANSWER ✔✔eminent domain...Explanation: Eminent

domain is one form of police power and is the power of a governmental

body to take ownership of real estate for a public use.

Rental property is sold to a new owner. Tenants remain under a written

lease. The new owner wants to raise the rent. When can the new owner

raise the rent? - 🧠 ANSWER ✔✔When the lease with the current tenants

expires Explanation: Unless the terms of the tenants' current lease permit

an increase in rent, the new owner must wait until the lease expires and

execute a new lease at the desired rent.

Which of the following activities can an unlicensed personal assistant do? -

🧠 ANSWER ✔✔Schedule appointments. Explanation: An unlicensed

personal assistant cannot do any activities that would require a real estate

license such as showings, open houses, or completing forms. An

unlicensed assistant can complete activities that do not require a license

such as scheduling appointments.

A city zoning board changes the zoning for a single parcel of property to

meet a public need. This would be called: - 🧠 ANSWER ✔✔spot

zoning...Explanation:Spot zoning occurs when a single parcel of land


COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
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STATEMENT. ALL RIGHTS RESERVED

, rezoned. A variance allows a parcel to violate permanently a zoning law.

Downzoning changes the use of all the properties within a zoning district.

A licensee is listing a 4-bedroom, two-story house. Which of the following

would be the most suitable comparable property? - 🧠 ANSWER ✔✔A 3-

bedroom, two-story house that was recently sold in the same neighborhood

as the listed property. Explanation: A comparable property is a similar

property currently being sold. The maximum value of a property tends to be

established by value of similar properties that have recently sold. A

foreclosed property does not provide a good comparison because it is not

an arm's length sale.

Evelyn and her boyfriend, Noah, are getting married, and are looking to

purchase a new home. They have asked you as their real estate licensee

for advice on how to take title. What advice can you give them regarding on

how they should take title? - 🧠 ANSWER ✔✔Suggest they speak to an

attorney. Explanation: Real estate licensees cannot give legal advice such

as how to take title.

Which of the following is the way that title appears on public records? - 🧠

ANSWER ✔✔Record....Explanation: Record title is the way that the title

appears on public records.


COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
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STATEMENT. ALL RIGHTS RESERVED

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