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WRA Final Exam Practice 2024/2025 Exam Questions Marking Scheme New Update | A+ Rated
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WRA Final Exam Practice 2024/2025 Exam Questions Marking Scheme New Update | A+ Rated A selling licensee can receive a commission from the: A:selling firm B:buyer C:buyer's firm D:seller -

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  • March 16, 2025
  • 144
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • Real Estate
  • Real Estate

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NinjaNerd

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WRA Final Exam Practice 2024/2025
Exam Questions Marking Scheme New
Update | A+ Rated



A selling licensee can receive a commission from the:

A:selling firm

B:buyer

C:buyer's firm


D:seller - 🧠 ANSWER ✔✔selling firm




Wis. Stat. § 452.14(3)(f) Disciplinary proceedings shall be conducted by the

board if it finds that a licensee accepted from any person except the firm

with which the licensee is associated, if the licensee is associated with a

firm, a commission or valuable consideration for the performance of any act

specified in this chapter or as compensation for referring a person to

another licensee or to any other person in connection with a transaction.




COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
1
STATEMENT. ALL RIGHTS RESERVED

,Four condominium units are valued at $200,000; $215,000; $220,000; and

$225,000; a total value of $860,000. The four condominiums have an

annual property maintenance fee $8,500. The amount of the property

maintenance fee owed by each unit is based upon the unit's value in

relation to the total value of all four units; what is the monthly maintenance

fee of the most expensive unit?

A:$184.17

B:$2,125.00

C: $177.08


D: $708.33 - 🧠 ANSWER ✔✔$184.17




The most expensive unit is $225,000. The total value of all the units is

$860,000. $225,000 / $860,000 = .2616 or 26%. The annual maintenance

fee for all the units is $8,500. $8,500 x .26 = $2,210 per year for the most

expensive unit. $2,210/12 months determines the monthly maintenance fee

of the most expensive unit is $184.17.




COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
2
STATEMENT. ALL RIGHTS RESERVED

,According to the WB-11 Residential Offer to Purchase who is responsible

to pay special assessments levied against a seller's property after the date

of the offer but prior to acceptance?

A:Buyer

B:Selling firm

C:Seller


D:Listing firm - 🧠 ANSWER ✔✔Buyer




Lines 416-418 of the WB-11 Residential Offer to Purchase.

A borrower is obtaining a loan for $130,000. 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 do the two points cost the borrower?

A:$2,500

B:$2,600

C:$2,700


D:$2,800 - 🧠 ANSWER ✔✔$2,600




COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
3
STATEMENT. ALL RIGHTS RESERVED

, $130,000 principal loan amount x .02 = $2,600 cost of points.

Which of the following likely constitutes secondary mortgage market fraud?

A:A loan officer telling the seller and buyer to enter into a side agreement

that will not be shared with the secured lender.

B:A buyer applying for a loan even though it will be difficult to make the

monthly payments.

C:A real estate licensee drafting an amendment indicating that the seller

will be escrowing cash at closing to pay for repairs.

D:A seller agreeing to give the buyer a purchase money mortgage at

closing. - 🧠 ANSWER ✔✔A loan officer telling the seller and buyer to enter

into a side agreement that will not be shared with the secured lender.




Mortgage fraud occurs anytime a participant in a real estate transaction

misrepresents facts with the intent to swindle another party of money. The

key to committing mortgage fraud is keeping terms of a transaction away

from the secured lender. Licensees should never draft paperwork that

misrepresents the terms of a transaction and they are obligated to disclose

all terms of a real estate transaction to the secured lender.



COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
4
STATEMENT. ALL RIGHTS RESERVED

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