Wisconsin Real Estate Exam Questions & Answers 100% Correct

Salespeople can use which of the following forms: - ANSWER-a form prepared and approved by the Department Which of the following are NOT considered client funds? - ANSWER-Promissory Notes Zoning laws may NOT be used to regulate which of the following? - ANSWER-The placement of interior partitions According to the WB-36 Buyer Agency/Tenant Representation Agreement, a commission is earned by the buyer firm only if the: - ANSWER-buyer acquires an interest in property or enters into an enforceable contract that is acceptable to buyer A seller lists his house with Salesperson A. A buyer goes to Salesperson A's open house and decides to make an offer on the house. The buyer signs a buyer agency agreement with Salesperson A. Salesperson A drafts the offer to purchase for the buyer. Which of the following CORRECTLY identifies the relationship of Salesperson A and the buyer and the seller? - ANSWER-The seller is Salesperson A's client, the buyer is Salesperson A's client Shoreland zoning regulates land located within: - ANSWER-1,000 feet of the ordinary high water mark of a lake, pond, or flowage Bob changed his mind about purchasing 456 Right Here Avenue. The seller has accepted the offer. The offer has not been delivered to Bob. What is the effect on the transaction if Bob's license calls the seller and says the deal is off? - ANSWER-Withdrawal of the offer A buyer discovered defects during the home inspection and the seller has the right to cure. Which of the following forms would be used to inform a seller of defects a buyer would like to have repaired prior to closing? - ANSWER-Notice Relating to Offer to Purchase A licensee is required to do all of the following EXCEPT: - ANSWER-have the technical knowledge, skills, or training possessed by competent third-party inspectors and investigators of real estate and related areas What would a buyer's licensee NOT have to disclose to the buyer-client? - ANSWER-The sellers are getting divorced and need to sell the house quickly. The buyer, in an effort to meet the terms of the Financing Contingency found in the WB-11 Residential Offer to Purchase, delivers a notice to the seller indicating that the buyer is ready to proceed to closing. Has the buyer waived the Financing Commitment Contingency? - ANSWER-No, because the buyer did not deliver a loan commitment. A buyer's firm writing an offer as a cooperating firm is an example of: - ANSWER-single agency Licensees are required to disclose to all parties: - ANSWER-possible material adverse facts Wisconsin Real Estate Exam Questions & Answers 100% Correct