WRA REAL ESTATE TEST
WRA REAL ESTATE TEST |2024\2025 |COMPLETELY SOLVED
$346,423 ($494,890 x 70% =$346,423
) - Accurate Answers✔✔What was the amount of the loan obtained by
the buyer? The property's appraised value is equal to the purchase price.
A:$134,970
B:$346,423
C:$148,467
D:$314,930
a group boycott - Accurate Answers✔✔The existing firms in town have
decided not to work with a new firm that charges less commission. This
is likely:
A:price-fixing
B:Commission structuring
,C:a group boycott
D:MLS policy
$274.80 ($91,600 x .003 = $274.80.) - Accurate Answers✔✔A seller
accepts an offer for $91,575 with a $10,000 mortgage carried by the
seller for the buyer. After adjustments between the parties were made on
the closing statement, the buyer ended up owing the seller $78,500 in
cash on closing day. What was the amount of transfer tax paid by the
seller?
A:$235.50
B:$244.80
C:$274.80
D:$274.72
$1,080 ($120,000 x 9 = $1,080,000. $1,080,000/$1000 = $1080. To find
the mortgage payment, multiply the loan amount by the factor and then
divide by 1000.) - Accurate Answers✔✔Calculate the monthly payment
for a mortgage of $120,000 at 9 percent for 20 years. The factor is 9.
A:$1,060
B:$960
C:$1,200
D:$1,080
A property owner charging more money to a tenant with children than to
a tenant without children - Accurate Answers✔✔Which of the following
would be a fair housing violation in Wisconsin?
, A:A firm refusing to list a property because the sellers insist on listing
the property for $25,000 more than the firm's estimated of selling price
B:A builder building homes designed specifically for the elderly
C:A lender charging different terms based only on the criteria of age in
the granting of credit
D:A property owner charging more money to a tenant with children than
to a tenant without children
C:Promissory notes - Accurate Answers✔✔Which of the following are
NOT considered client funds?
A:Downpayments
B:Earnest money
C:Promissory notes
D:Advanced fees
The transfer fee on a $129,550 purchase is $388.80. To calculate the
transfer fee, round the purchase price up to the nearest $100 and
multiply times .003. Round $129,550 up to $129,600 and multiply
by .003 = $388.80. - Accurate Answers✔✔A buyer purchases a property
for $129,550. How much is the transfer fee for this transaction?
A:$388.65
B:$388.50
C:$387.00
D:$388.80
WRA REAL ESTATE TEST |2024\2025 |COMPLETELY SOLVED
$346,423 ($494,890 x 70% =$346,423
) - Accurate Answers✔✔What was the amount of the loan obtained by
the buyer? The property's appraised value is equal to the purchase price.
A:$134,970
B:$346,423
C:$148,467
D:$314,930
a group boycott - Accurate Answers✔✔The existing firms in town have
decided not to work with a new firm that charges less commission. This
is likely:
A:price-fixing
B:Commission structuring
,C:a group boycott
D:MLS policy
$274.80 ($91,600 x .003 = $274.80.) - Accurate Answers✔✔A seller
accepts an offer for $91,575 with a $10,000 mortgage carried by the
seller for the buyer. After adjustments between the parties were made on
the closing statement, the buyer ended up owing the seller $78,500 in
cash on closing day. What was the amount of transfer tax paid by the
seller?
A:$235.50
B:$244.80
C:$274.80
D:$274.72
$1,080 ($120,000 x 9 = $1,080,000. $1,080,000/$1000 = $1080. To find
the mortgage payment, multiply the loan amount by the factor and then
divide by 1000.) - Accurate Answers✔✔Calculate the monthly payment
for a mortgage of $120,000 at 9 percent for 20 years. The factor is 9.
A:$1,060
B:$960
C:$1,200
D:$1,080
A property owner charging more money to a tenant with children than to
a tenant without children - Accurate Answers✔✔Which of the following
would be a fair housing violation in Wisconsin?
, A:A firm refusing to list a property because the sellers insist on listing
the property for $25,000 more than the firm's estimated of selling price
B:A builder building homes designed specifically for the elderly
C:A lender charging different terms based only on the criteria of age in
the granting of credit
D:A property owner charging more money to a tenant with children than
to a tenant without children
C:Promissory notes - Accurate Answers✔✔Which of the following are
NOT considered client funds?
A:Downpayments
B:Earnest money
C:Promissory notes
D:Advanced fees
The transfer fee on a $129,550 purchase is $388.80. To calculate the
transfer fee, round the purchase price up to the nearest $100 and
multiply times .003. Round $129,550 up to $129,600 and multiply
by .003 = $388.80. - Accurate Answers✔✔A buyer purchases a property
for $129,550. How much is the transfer fee for this transaction?
A:$388.65
B:$388.50
C:$387.00
D:$388.80
