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WRA Online Course Final Exam Questions & answers
WRA Online Course Final Exam Questions & answers
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WRA Online Course Final ExamIn the WB-1 Residential Listing Contract, who has the authority to accompany a
home inspector during a home inspection?
The buyer
All of the following would be examples of public land use restrictions EXCEPT:
A:bulk zoning
B:deed conditions
C:setbacks
D:spot zoning
deed conditions
When a depository institution remits the interest earned on a firm's
interest-bearing trust account to the Department they must inform the firm of all
the following EXCEPT the:
A:Rate of interest applied to the account
B:Account balance
C:Interest earned on the account
D:Service charges on the account
Interest earned on the account
,A licensee wishes to sell the licensee's personally owned property without the
assistance of the licensee's real estate company. At what point must the licensee
disclose the licensee's licensed status?
A:At the time the buyer decides to write the offer
B:Prior to accepting the buyer's offer or counter-offer
C:As soon as possible whether that be a showing or first contact with a buyer or
agent of the buyer
D:At some point prior to closing the transaction
As soon as possible whether that be a showing or first contact with a buyer or
agent of the buyer
A licensee is going to list a property improved with a structure. Which of the
following statements best describes a licensee's inspection duties?
A:A licensee needs to complete a reasonably competent and diligent inspection
only if requested by the parties.
B:A licensee needs to complete a reasonably competent and diligent inspection
to detect observable, material facts.
C:A licensee needs to complete a reasonably competent and diligent inspection
to detect observable, material adverse facts.
D:A licensee does not have an inspection obligation.
A licensee needs to complete a reasonably competent and diligent inspection to
detect observable, material adverse facts.
What state agency owns the interest earned on a firm's Interest Bearing Real
Estate Trust Account (IBRETA)?
,A:The Department of Safety and Professional Services
B:The Department of Agriculture, Trade and Consumer Protection
C:The Department of Financial Institutions
D:The Department of Administration
The Department of Administration
A licensee is working with a deaf individual. The individual needs an interpreter to
understand the real estate contracts. Who is required to pay for the interpreter?
A:The seller
B:The firm
C:The buyer
D:Housing and Urban Development
The firm
A city zoning board changes the zoning for a single parcel of property to meet a
public need. This would be called:
A:a variance
B:downzoning
C:nonconforming use
D:spot zoning
, spot zoning
What document does a seller use to convey ownership of personal property to a
buyer?
A:An abstract of title
B:An evidence of ownership
C:A warranty deed
D:A bill of sale
A bill of sale
Compare the WB-13 Vacant Land Offer to Purchase to the WB-11 Residential
Offer to Purchase. Which of the following statements is most correct?
A:The WB-13 financing contingency requires a well water and septic test
whereas the WB-11 financing contingency does not.
B:The WB-13 must have a legal description and the WB-11 does not.
C:The WB-13 includes a map contingency.
D:The WB-13 includes a provision requiring the seller to provide the buyer with a
survey of the property and the WB-11 does not have any survey language.
The WB-13 includes a map contingency.
Who signs a deed?
A:The seller and buyer
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