WRA 2026/2027 QUESTIONS AND SOLUTIONS RATED A+
✔✔Chain of title refers to: - ✔✔the succession of conveyances from some starting point
whereby the current owner derives title to the real estate...Explanation:The chain of title
for a property is the succession of conveyances from some starting point whereby the
current owner derives title to the real estate. A chain of title may start with the original
grant of ownership from the United States to the first private owner and all subsequent
conveyances up to the current owner.
✔✔A radioactive gas in the air that comes from the natural breakdown of uranium in
soil, rock and water is: - ✔✔radon...Explanation:Radon is a gas that comes from the
natural (radioactive) breakdown of uranium in soil, rock, and water and gets into the air.
✔✔From the grantee's point of view, the best deed to receive is a: - ✔✔warranty
deed...Explanation:The general warranty deed offers the most comprehensive
guarantee of title. The grantor makes five promises to the grantee. They are the
covenants of seisin, against encumbrances, further assurance, quiet enjoyment, and
warranty forever.
✔✔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; what is the monthly maintenance fee of the most
expensive unit? - ✔✔$184.17...Explanation: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.
✔✔A listing contract is best described as a: - ✔✔personal service
contract...Explanation:A listing contract is a personal service contract based upon a
special fiduciary relationship of trust and confidence in the firm. Specific performance is
not an available remedy for breach of a listing contract. However, damages are an
available remedy for breach of a listing contract.
✔✔Question 136 - ✔✔
✔✔A buyer uses a buyer's licensee to draft an offer. The WB-11 Residential Offer to
Purchase directs the buyer's licensee to make the earnest money check payable to the:
- ✔✔listing firm's trust account...Explanation:The WB-11 Residential Offer to Purchase
states: "Unless otherwise agreed, earnest money shall be paid to and held in the trust
account of the listing broker (Buyer's agent if Property is not listed or Seller's account if
no broker is involved), until applied to the purchase price or otherwise disbursed as
provided in the offer."
✔✔Chain of title refers to: - ✔✔the succession of conveyances from some starting point
whereby the current owner derives title to the real estate...Explanation:The chain of title
for a property is the succession of conveyances from some starting point whereby the
current owner derives title to the real estate. A chain of title may start with the original
grant of ownership from the United States to the first private owner and all subsequent
conveyances up to the current owner.
✔✔A radioactive gas in the air that comes from the natural breakdown of uranium in
soil, rock and water is: - ✔✔radon...Explanation:Radon is a gas that comes from the
natural (radioactive) breakdown of uranium in soil, rock, and water and gets into the air.
✔✔From the grantee's point of view, the best deed to receive is a: - ✔✔warranty
deed...Explanation:The general warranty deed offers the most comprehensive
guarantee of title. The grantor makes five promises to the grantee. They are the
covenants of seisin, against encumbrances, further assurance, quiet enjoyment, and
warranty forever.
✔✔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; what is the monthly maintenance fee of the most
expensive unit? - ✔✔$184.17...Explanation: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.
✔✔A listing contract is best described as a: - ✔✔personal service
contract...Explanation:A listing contract is a personal service contract based upon a
special fiduciary relationship of trust and confidence in the firm. Specific performance is
not an available remedy for breach of a listing contract. However, damages are an
available remedy for breach of a listing contract.
✔✔Question 136 - ✔✔
✔✔A buyer uses a buyer's licensee to draft an offer. The WB-11 Residential Offer to
Purchase directs the buyer's licensee to make the earnest money check payable to the:
- ✔✔listing firm's trust account...Explanation:The WB-11 Residential Offer to Purchase
states: "Unless otherwise agreed, earnest money shall be paid to and held in the trust
account of the listing broker (Buyer's agent if Property is not listed or Seller's account if
no broker is involved), until applied to the purchase price or otherwise disbursed as
provided in the offer."
