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Wisconsin Real Estate Tests Bundle Set
Wisconsin Real Estate Tests Bundle Set
[Mostrar más]Wisconsin Real Estate Tests Bundle Set
[Mostrar más]A seller signs listing contract with firm. Who is the agent who is the principal? CORRECT ANSWER Seller is the principal, firm is the agent. 
 
If you are the listing agent and a buyer asks you to write an offer but does not sign an agency agreement, how do you describe the buyer? CORRECT ANSWER Cus...
Vista previa 3 fuera de 29 páginas
Añadir al carritoA seller signs listing contract with firm. Who is the agent who is the principal? CORRECT ANSWER Seller is the principal, firm is the agent. 
 
If you are the listing agent and a buyer asks you to write an offer but does not sign an agency agreement, how do you describe the buyer? CORRECT ANSWER Cus...
The listing broker is the seller's CORRECT ANSWER agent 
 
A licensee writes an offer for a buyer on the licensee's listing. The buyer is the licensee's CORRECT ANSWER customer 
 
When a firm is representing only one side of the transaction, the firm is practicing what type of agency? CORRECT ANS...
Vista previa 3 fuera de 18 páginas
Añadir al carritoThe listing broker is the seller's CORRECT ANSWER agent 
 
A licensee writes an offer for a buyer on the licensee's listing. The buyer is the licensee's CORRECT ANSWER customer 
 
When a firm is representing only one side of the transaction, the firm is practicing what type of agency? CORRECT ANS...
Broker Alex, who has an agreement to list Lisa's house, finds a buyer that is ready, willing and able to purchase Lisa's home. Lisa accepts the buyer's offer, but a week later decides she doesn't really want to move and withdraws her acceptance Alex : CORRECT ANSWER is entitled to collect a comm...
Vista previa 2 fuera de 15 páginas
Añadir al carritoBroker Alex, who has an agreement to list Lisa's house, finds a buyer that is ready, willing and able to purchase Lisa's home. Lisa accepts the buyer's offer, but a week later decides she doesn't really want to move and withdraws her acceptance Alex : CORRECT ANSWER is entitled to collect a comm...
Answer: C 
The writ of execution is a court order instructing the officer of the court to carry out the decision of the court. It is used in a judgment where the sheriff is told to seize a debtor's property so that it can be sold to pay off a debt. CORRECT ANSWER All of the following would be consi...
Vista previa 2 fuera de 13 páginas
Añadir al carritoAnswer: C 
The writ of execution is a court order instructing the officer of the court to carry out the decision of the court. It is used in a judgment where the sheriff is told to seize a debtor's property so that it can be sold to pay off a debt. CORRECT ANSWER All of the following would be consi...
Salespeople can use which of the following forms: CORRECT ANWER a form prepared and approved by the Department 
 
Which of the following statements is true of property held in joint tenancy? CORRECT ANWER If a joint tenant dies, the surviving tenant or tenants receive the interest of the deceased jo...
Vista previa 3 fuera de 26 páginas
Añadir al carritoSalespeople can use which of the following forms: CORRECT ANWER a form prepared and approved by the Department 
 
Which of the following statements is true of property held in joint tenancy? CORRECT ANWER If a joint tenant dies, the surviving tenant or tenants receive the interest of the deceased jo...
A seller signs a listing contract with a firm. Who is the agent and who is the principal? ______________ CORRECT ANSWER The seller is the principal. The firm is the agent. 
 
A buyer asks a listing agent to draft an offer. The buyer does not sign a buyer agency agreement. Is the buyer a customer or ...
Vista previa 3 fuera de 22 páginas
Añadir al carritoA seller signs a listing contract with a firm. Who is the agent and who is the principal? ______________ CORRECT ANSWER The seller is the principal. The firm is the agent. 
 
A buyer asks a listing agent to draft an offer. The buyer does not sign a buyer agency agreement. Is the buyer a customer or ...
The listing broker is the seller's CORRECT ANWER agent 
 
A licensee writes an offer for a buyer on the licensee's listing. The buyer is the licensee's CORRECT ANWER customer 
 
When a firm is representing only one side of the transaction, the firm is practicing what type of agency? CORRECT ANWER...
Vista previa 3 fuera de 30 páginas
Añadir al carritoThe listing broker is the seller's CORRECT ANWER agent 
 
A licensee writes an offer for a buyer on the licensee's listing. The buyer is the licensee's CORRECT ANWER customer 
 
When a firm is representing only one side of the transaction, the firm is practicing what type of agency? CORRECT ANWER...
Which of the following is NOT typically considered client funds? CORRECT ANSWER Security deposits collected by a property owner 
 
A buyer wants to have the interest earned on their earnest money deposit. Which of the following statements is most correct? CORRECT ANSWER The firm cannot draft an escr...
Vista previa 3 fuera de 19 páginas
Añadir al carritoWhich of the following is NOT typically considered client funds? CORRECT ANSWER Security deposits collected by a property owner 
 
A buyer wants to have the interest earned on their earnest money deposit. Which of the following statements is most correct? CORRECT ANSWER The firm cannot draft an escr...
A seller signs a listing contract with a firm. Who is the agent and who is the principal? CORRECT ANSWER The sales person who is associated with the firm is the agent and the principal is the client. 
 
If you are the listing agent and a buyer asks you to write an offer on one of your firm's listin...
Vista previa 3 fuera de 26 páginas
Añadir al carritoA seller signs a listing contract with a firm. Who is the agent and who is the principal? CORRECT ANSWER The sales person who is associated with the firm is the agent and the principal is the client. 
 
If you are the listing agent and a buyer asks you to write an offer on one of your firm's listin...
The foundation upon which real estate brokerage is practiced CORRECT ANSWER Agency 
 
A legal and ethical relationship created between a real estate firm and a party to a transaction; the party may be a buyer, seller, landlord, or tenant CORRECT ANSWER Agency Relationship 
 
A written agreement betw...
Vista previa 4 fuera de 63 páginas
Añadir al carritoThe foundation upon which real estate brokerage is practiced CORRECT ANSWER Agency 
 
A legal and ethical relationship created between a real estate firm and a party to a transaction; the party may be a buyer, seller, landlord, or tenant CORRECT ANSWER Agency Relationship 
 
A written agreement betw...
WB-11 CORRECT ANSWER Residential Offer to purchase 
 
WB-13 CORRECT ANSWER Vacant Land Offer to purchase 
 
WB-46 CORRECT ANSWER Multiple Counter Proposal 
 
Wb-44 CORRECT ANSWER Counter offer 
 
WB-41 CORRECT ANSWER Notice relating to offer to purchase 
 
WB-40 CORRECT ANSWER Amendment to offer to ...
Vista previa 3 fuera de 25 páginas
Añadir al carritoWB-11 CORRECT ANSWER Residential Offer to purchase 
 
WB-13 CORRECT ANSWER Vacant Land Offer to purchase 
 
WB-46 CORRECT ANSWER Multiple Counter Proposal 
 
Wb-44 CORRECT ANSWER Counter offer 
 
WB-41 CORRECT ANSWER Notice relating to offer to purchase 
 
WB-40 CORRECT ANSWER Amendment to offer to ...
Salespeople can use which of the following forms: CORRECT ANSWER a form prepared and approved by the Department 
 
Which of the following are NOT considered client funds? CORRECT ANSWER Promissory Notes 
 
Zoning laws may NOT be used to regulate which of the following? CORRECT ANSWER The placement o...
Vista previa 3 fuera de 17 páginas
Añadir al carritoSalespeople can use which of the following forms: CORRECT ANSWER a form prepared and approved by the Department 
 
Which of the following are NOT considered client funds? CORRECT ANSWER Promissory Notes 
 
Zoning laws may NOT be used to regulate which of the following? CORRECT ANSWER The placement o...
usts underground storage tanks used to hold hazardouse substances are exempt from regualtion when? CORRECT ANSWER 110 galloons are exempt from regulatory management- but if known it does need to be disclosed. 1.100 gallons used fro noncommercial use are exempt- septic tanks for waterway and or exces...
Vista previa 4 fuera de 45 páginas
Añadir al carritousts underground storage tanks used to hold hazardouse substances are exempt from regualtion when? CORRECT ANSWER 110 galloons are exempt from regulatory management- but if known it does need to be disclosed. 1.100 gallons used fro noncommercial use are exempt- septic tanks for waterway and or exces...
A conveyance by a minor CORRECT ANSWER Must be executed by an authorized guardian 
 
Adverse possession occurs if the use of the land is CORRECT ANSWER Actual and open 
 
The only way that an agent may sign a conveyance for another is if CORRECT ANSWER The agent has written authorization from the pr...
Vista previa 2 fuera de 10 páginas
Añadir al carritoA conveyance by a minor CORRECT ANSWER Must be executed by an authorized guardian 
 
Adverse possession occurs if the use of the land is CORRECT ANSWER Actual and open 
 
The only way that an agent may sign a conveyance for another is if CORRECT ANSWER The agent has written authorization from the pr...
0 - bedroom Dwelling CORRECT ANSWER efficieny and dormintory. Not target housing according to HUD. Exempt from needing to include the Lead Base Paint disclosure. 
 
Abstract of Title CORRECT ANSWER A condensed history of a property's title showing, in chronological sequence, matters such as conveya...
Vista previa 4 fuera de 43 páginas
Añadir al carrito0 - bedroom Dwelling CORRECT ANSWER efficieny and dormintory. Not target housing according to HUD. Exempt from needing to include the Lead Base Paint disclosure. 
 
Abstract of Title CORRECT ANSWER A condensed history of a property's title showing, in chronological sequence, matters such as conveya...
A way of terminating the rights of the parties under a contract whereby the parties act as if the contract never existed and forfeit their right to sue. CORRECT ANSWER Rescission 
 
Uninterrupted chain of events which lead to the sale. CORRECT ANSWER Procurement 
 
The broker will earn their commiss...
Vista previa 2 fuera de 5 páginas
Añadir al carritoA way of terminating the rights of the parties under a contract whereby the parties act as if the contract never existed and forfeit their right to sue. CORRECT ANSWER Rescission 
 
Uninterrupted chain of events which lead to the sale. CORRECT ANSWER Procurement 
 
The broker will earn their commiss...
Express Agency CORRECT ANSWER Agency through a formal agreement 
 
Implied agency CORRECT ANSWER Don't have a formal agreement but develop an agency agreement through one or both of the parties actions unintentionally 
 
Express or implied in Wi CORRECT ANSWER Express, must be written - a ct will n...
Vista previa 2 fuera de 5 páginas
Añadir al carritoExpress Agency CORRECT ANSWER Agency through a formal agreement 
 
Implied agency CORRECT ANSWER Don't have a formal agreement but develop an agency agreement through one or both of the parties actions unintentionally 
 
Express or implied in Wi CORRECT ANSWER Express, must be written - a ct will n...
Which of the following statements INCORRECTLY describes a multiple representation relationship? 
 A: The firm owes both parties the duty of confidentiality. 
 B: A firm must disclose multiple representation to all parties in writing. 
 C: The firm owes loyalty to the party who first signed an agency...
Vista previa 3 fuera de 16 páginas
Añadir al carritoWhich of the following statements INCORRECTLY describes a multiple representation relationship? 
 A: The firm owes both parties the duty of confidentiality. 
 B: A firm must disclose multiple representation to all parties in writing. 
 C: The firm owes loyalty to the party who first signed an agency...
Fee Simple Defeasible Estate CORRECT ANSWER An estate of inheritance that may be nullified upon the occurrence or non-occurrence of a particular event. 
 
Escheat CORRECT ANSWER The reversion of property to the state or county, as provided by state law, in cases where a decedent dies intestate and t...
Vista previa 3 fuera de 27 páginas
Añadir al carritoFee Simple Defeasible Estate CORRECT ANSWER An estate of inheritance that may be nullified upon the occurrence or non-occurrence of a particular event. 
 
Escheat CORRECT ANSWER The reversion of property to the state or county, as provided by state law, in cases where a decedent dies intestate and t...
The seller of realty under a land contract. CORRECT ANSWER vendor 
 
Financing that does not give the lender the added security of a government guarantee or insurance. CORRECT ANSWER conventional financing 
 
Loan programs that are either insured or guaranteed by the federal government. CORRECT ANSW...
Vista previa 2 fuera de 10 páginas
Añadir al carritoThe seller of realty under a land contract. CORRECT ANSWER vendor 
 
Financing that does not give the lender the added security of a government guarantee or insurance. CORRECT ANSWER conventional financing 
 
Loan programs that are either insured or guaranteed by the federal government. CORRECT ANSW...
A physical or mental impairment that substantially limits one or more major life activities, a record of having such an impairment or being regarded as having such an impairment. CORRECT ANSWER disability 
 
A person's religious or spiritual beliefs and practices, or his or her denominational affil...
Vista previa 2 fuera de 7 páginas
Añadir al carritoA physical or mental impairment that substantially limits one or more major life activities, a record of having such an impairment or being regarded as having such an impairment. CORRECT ANSWER disability 
 
A person's religious or spiritual beliefs and practices, or his or her denominational affil...
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