WISCONSIN REAL ESTATE EXAM PREP QUESTIONS AND 100% CORRECT ANSWERS|LATEST 2025/2026|GRADED A+_

WISCONSIN REAL ESTATE EXAM PREP
QUESTIONS AND 100% CORRECT
ANSWERS|LATEST 2025/2026|GRADED A+_

A seller signs listing contract with firm. Who is the agent who is the principal? -
B B B B B B B B B B B B B B B



B ANSWER Seller is the principal, firm is the agent.
B B B B B B B




If you are the listing agent and a buyer asks you to write an offer but does not sign an agency a
B B B B B B B B B B B B B B B B B B B B B



greement, how do you describe the buyer? - ANSWER
B B B B B B B B Customer



What kind of agency is the firm practicing if they represent just one party in a transaction? -
B B B B B B B B B B B B B B B B B



B ANSWER Single Agency B




When can a firm engage in multiple representation? -
B B B B B B B B



B ANSWER When buyer and seller consent and receive full written disclosure.
B B B B B B B B B




In what kind of transaction must a firm provide agency disclosure? -
B B B B B B B B B B B



B ANSWER ALL TRANSACTIONS 1-4 family need to sign
B B B B B B




By when must a firm provide agency disclosure to client? Customer? -
B B B B B B B B B B B



ANSWER
B Before or at the same time executing client agency agreement. Before negoti B B B B B B B B B B B



ations for customer.B B




If you are a buyers agent by when must you disclose your agency relationship to seller or listin
B B B B B B B B B B B B B B B B B



g firm. -
B B



ANSWER
B First chance you get, first contact when parties exchange information about tr
B B B B B B B B B B B



ansaction or the seller, showing of property, any other negotiation with seller or listing firm.
B B B B B B B B B B B B B B




What are listing firms agency disclosure obligations when working with a customer who wants
B B B B B B B B B B B B B



to write an offer on a duplex? Commercial warehouse? -
B B B B B B B B B B

,ANSWER
B Must provide disclosure in ALL transactions, 1- B B B B B B



4 family must sign, commercial no signature required.
B B B B B B B




When does a property manager need to have a real estate license? -
B B B B B B B B B B B B



B ANSWER If they are negotiating terms or signing leases on behalf of the landlord.
B B B B B B B B B B B B




If a licensee is representing a family member who is writing an offer, what are the disclosure o
B B B B B B B B B B B B B B B B B



bligations? Does it matter if they are a client or customer? -
B B B B B B B B B B B



B ANSWER Disclose in writing and offer to purchase. Written consent from all parties.
B B B B B B B B B B B




What are the licensees disclosure obligations if receiving a referral fee from lawn maintenance
B B B B B B B B B B B B B



company? Referral between agents? -
B B B B B



BANSWER Before or at time licensee makes they referral, must disclose in writing that th B B B B B B B B B B B B B



ey will receive compensation from lawn care company. Licensees do not need to disclose refer
B B B B B B B B B B B B B B



ral fees for real estate services.
B B B B B




When must a licensee disclose that they hold a real estate license when selling their own hom
B B B B B B B B B B B B B B B B



e? Commercial property owned by licensee? -
B B B B B B



ANSWER
B First contact with party or agent where information is being exchanged, showi B B B B B B B B B B B



ng property or other negotiations.
B B B B




What tie in arrangements are legal? -
B B B B B B



B ANSWER If builder and licensee own property, the buyer has to use builder. Builder and
B B B B B B B B B B B B B



B licensee selling improved - need to pick from house and use builder. Deed restrictions —
B B B B B B B B B B B B B B



B use builder to achieve uniformity.
B B B B




Who can retain unlicensed personal assistant? Licensed? -
B B B B B B B



B ANSWER Anyone can hire unlicensed assistant. Firm can only hire licensed.
B B B B B B B B B




When can agent agree to write an offer for a buyer on a property only if the buyer agrees to lis
B B B B B B B B B B B B B B B B B B B B



t buyers current property with agent? - ANSWER
B B B B B B B NEVER-ILLEGAL

, Which agent duty survives the transaction? - ANSWER
B B B B B B B Confidentiality



What duties does a firm owe to all parties in a transaction? -
B B B B B B B B B B B B



ANSWER
B Fair and honest treatment, disclosure of material adverse facts, confidentialit
B B B B B B B B B



y, provision of accurate market condition information, reasonable skill and care, accounting, o
B B B B B B B B B B B B



bjective presentation of offers.
B B B




What are the additional duties owed to a client? -
B B B B B B B B B



B ANSWER Loyalty, Advice, Disclosure, Obedience (Obligation), Negotiation
B B B B B




When a firm has a multiple representation relationship with designated agency, to whom will
B B B B B B B B B B B B B B



each salesperson provide information, opinions, advice? -
B B B B B B



B ANSWER Each client receives full negotiation services from their designated agent.
B B B B B B B B B




How should a client withdraw consent to a multiple representation relationship? -
B B B B B B B B B B B



ANSWER
B In writing. Amend agency agreement, terminate agreement and be a custom
B B B B B B B B B B



er or hire a different firm.
B B B B B




How should a client waive a firms duty of negotiation? - ANSWER
B B B B B B B B B B B In writing.
B




Which type of agency representation is created with written words? -
B B B B B B B B B B



B ANSWER Express agency B




Which type of agency relationship gives an agent the authority to represent a principal in mor
B B B B B B B B B B B B B B B



e than one transaction? - ANSWER
B B B B B General agency B




What are the seven different ways to terminate an agency relationship? -
B B B B B B B B B B B



BANSWER Death or Incapacity, Destruction or Condemnation of Property - B B B B B B B B



BEminent Domain, Expiration of Term of the Contract, Mutual Agreement, Breach, Operation o
B B B B B B B B B B B B



f Law, Completion.
B B