Wra license exam - Study guides, Class notes & Summaries

WRA Review Exam Questions With 100% Verified Answers A seller signs a listing contract with a firm. Who is the agent and who is the principal? - answerThe seller is the principal. The firm is the agent. A buyer asks a listing agent to draft an offer. The buyer does not sign a buyer agency agreement. Is the buyer a customer or a client? - answerThe buyer is a customer. What kind of agency is a firm practicing is the firm represents just one party in the transaction? - answerSingle agency. ...

0-Bedroom Dwelling - Any Residentaial dwelling in which the living area is not separated from the sleeping area. Abstract of Title - a condensed history of the title to a particular piece of realestate showing, in chronological sequence, matters such as conveyances, liens, and the encumbrances which have been recorded against the title in the office of the register of deeds or other public place. Acceleration Clause - A clause within a mortgage, permitting the lender to accelerate...

WRA Final Exam Review Questions and Answers. 100% Correct Which of the following is a duty ONLY to a client? - Correct answer Loyalty represents interest." "Which of the following Services should NOT be performed for a buyer customer? - Correct answer Creating a market analyst of the property the buyer wishes to purchase." "Which of the following would a buyer's broker NOT be required to disclose to their client buyer? - Correct answer That the sellers are getting divorced and ne...

WRA Final Exam Review Questions and Answers. 100% Correct A buyers uses a buyers 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: A. Buyers firms trust account B: selling firms trust account C: sellers account D: Listing firms trust account - Correct answer listing firms trust account "Which of the following is the type of agency model where the firm represents just the seller in the tr...

WRA EXAM QUESTIONS DUE 27 SEPTEMBER 2023 The WB-11 Residential Offer to Purchase describes which of the following as the way an earnest money payment should be handled as a result of a sale involving cooperating firms? - CORRECT ANSWER-The selling licensee should have all earnest money checks paid directly to the listing firm... Explanation: The Earnest Money section of the offer states: "Unless otherwise agreed, earnest money shall be paid to and held in the trust account of the l...