WRA EXAM 2024/2025 WITH GUARANTEED ACCURATE ANSWERS |VERIFIED
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Course
WRA
Institution
WRA
0-Bedroom Dwelling - Accurate AnswersAny residential dwelling in which the living area is not separated from the sleeping area
Abstract of Title - Accurate AnswersA condensed history of a property's title showing, in chronological sequence, matters such as conveyances, liens, and encumbrances th...
WRA EXAM 2024/2025
WRA EXAM 2024/2025 WITH GUARANTEED ACCURATE ANSWERS |VERIFIED
0-Bedroom Dwelling - Accurate Answers✔✔Any residential dwelling in
which the living area is not separated from the sleeping area
Abstract of Title - Accurate Answers✔✔A condensed history of a
property's title showing, in chronological sequence, matters such as
conveyances, liens, and encumbrances that have been recorded against
the title in the office of the register of deeds or other public recording
place
Acceleration Clause - Accurate Answers✔✔A clause within a mortgage
permitting a lender to accelerate the amount due upon default and
declare the entire balance due
,Acceptance - Accurate Answers✔✔Acceptance occurs when all buyers
and sellers have signed an identical copy or separate but identical copies
of the offer
Accession - Accurate Answers✔✔The right of a property owner to
become entitled to all that a property produces and to all that is added to
it, either naturally or artificially
Active Property - Accurate Answers✔✔Property currently for sale
Actual Notice - Accurate Answers✔✔The actual knowledge a person
has about the existence of a particular fact when notice is expressly and
actually given
Ad Valorem - Accurate Answers✔✔Latin for according to valuation.
Refers to a tax based on a property's value, not the income of the
property owner
Addenda - Accurate Answers✔✔Additional material attached to and
made part of a document
Adjustable Rate Loan - Accurate Answers✔✔A loan with a fluctuating
interest rate
Advance Fee - Accurate Answers✔✔A fee paid to a firm before any
services are rendered
,Adverse Fact - Accurate Answers✔✔Something that significantly and
adversely affects the value of a property, significantly reduces the
structural integrity of improvements to real estate, presents a health risk
to occupants of the property, or information that indicates that a party to
a transaction is not able to or does not intend to meet the obligations
under a contract made concerning a transaction
Age - Accurate Answers✔✔A protected class under Wisconsin fair
housing laws that refers to any person at least 18 years of age
Agency - Accurate Answers✔✔A relationship in which one person acts
for or represents another
Agent - Accurate Answers✔✔A person who is authorized to act on
behalf of another
Amendment - Accurate Answers✔✔Used to change terms of a contract
Amenities - Accurate Answers✔✔Features of a property that add value
or desirability. Can be either tangible, such as a skylight, or intangible,
such as an ocean view
American with Disabilities Act (ADA) - Accurate Answers✔✔A federal
law designed to eliminate discrimination against individuals with
disabilities by mandating equal access to jobs, public accommodations,
government services, public transportation, and telecommunications
, Amortization - Accurate Answers✔✔The gradual paying of a debt
through systematic payments of principal and interest over a
predetermined period of time
Ancestry - Accurate Answers✔✔A person's racial and ethnic
background
Annexation - Accurate Answers✔✔An addition to property by the act of
joining one thing to another
Annual Percentage Rate (APR) - Accurate Answers✔✔The relationship
of the total finance charge to the total amount to be financed as required
under the federal Truth in Lending Act
Anticipation - Accurate Answers✔✔Future physical, economic, social,
or political changes that may affect present value of property
Antitrust Laws - Accurate Answers✔✔Laws that make it illegal to
conspire to restrain trade or the free flow of goods and services in a
market place
Appraisal - Accurate Answers✔✔An estimate or opinion of value based
on supportable evidence and approved methods
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