WRA Exam Questions (2/2) 2024/2025
Exam Questions and Detailed Answers |
Get it 100% Correct Answers
According to the terms of the WB-1 Residential Listing Contract, how many
days does the seller have to provide a new listing firm with the former
listing firm's list of protected buyers? - 🧠 ANSWER ✔✔B:Seven days
What document does a seller use to convey ownership of personal property
to a buyer? - 🧠 ANSWER ✔✔a bill of sale
Which of the following is a CORRECT statement regarding Antitrust Laws?
- 🧠 ANSWER ✔✔D:The Sherman Antitrust Act was designed to maintain
and preserve business competition.
A selling licensee can receive a commission from the: - 🧠 ANSWER
✔✔selling firm
Who of the following should NOT sign a seller's real estate condition
report? - 🧠 ANSWER ✔✔listing agent
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
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STATEMENT. ALL RIGHTS RESERVED
, What are deed conditions? - 🧠 ANSWER ✔✔land use controls used
between *private citizens*
A borrower is obtaining a loan for $130,150. The loan is 95% of the
property's value. The interest rate on the loan is 5% after the borrower pays
two points. How much did the borrower pay for the property? - 🧠 ANSWER
✔✔D:$137,000 (explanation: $130,150 / .95 = $137,000)
What type of mortgage law is recognized in Wisconsin? - 🧠 ANSWER
✔✔lien theory
Jimmy and Sara, a married couple, are selling their primary residence. Both
Jimmy and Sara must sign all of the following EXCEPT: (and explain) - 🧠
ANSWER ✔✔the listing contract. The listing contract, unlike the other
contracts, does not require the signature of both spouses in order to be
valid. The courts have held that the party signing the contract is responsible
for the commission
Which of the following creates a multiple representation relationship? - 🧠
ANSWER ✔✔A:A buyer's licensee writes an offer for a buyer on a property
listed by the buyer's licensee's firm
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
2
STATEMENT. ALL RIGHTS RESERVED
Exam Questions and Detailed Answers |
Get it 100% Correct Answers
According to the terms of the WB-1 Residential Listing Contract, how many
days does the seller have to provide a new listing firm with the former
listing firm's list of protected buyers? - 🧠 ANSWER ✔✔B:Seven days
What document does a seller use to convey ownership of personal property
to a buyer? - 🧠 ANSWER ✔✔a bill of sale
Which of the following is a CORRECT statement regarding Antitrust Laws?
- 🧠 ANSWER ✔✔D:The Sherman Antitrust Act was designed to maintain
and preserve business competition.
A selling licensee can receive a commission from the: - 🧠 ANSWER
✔✔selling firm
Who of the following should NOT sign a seller's real estate condition
report? - 🧠 ANSWER ✔✔listing agent
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
1
STATEMENT. ALL RIGHTS RESERVED
, What are deed conditions? - 🧠 ANSWER ✔✔land use controls used
between *private citizens*
A borrower is obtaining a loan for $130,150. The loan is 95% of the
property's value. The interest rate on the loan is 5% after the borrower pays
two points. How much did the borrower pay for the property? - 🧠 ANSWER
✔✔D:$137,000 (explanation: $130,150 / .95 = $137,000)
What type of mortgage law is recognized in Wisconsin? - 🧠 ANSWER
✔✔lien theory
Jimmy and Sara, a married couple, are selling their primary residence. Both
Jimmy and Sara must sign all of the following EXCEPT: (and explain) - 🧠
ANSWER ✔✔the listing contract. The listing contract, unlike the other
contracts, does not require the signature of both spouses in order to be
valid. The courts have held that the party signing the contract is responsible
for the commission
Which of the following creates a multiple representation relationship? - 🧠
ANSWER ✔✔A:A buyer's licensee writes an offer for a buyer on a property
listed by the buyer's licensee's firm
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
2
STATEMENT. ALL RIGHTS RESERVED
