Wi real estate exam - Study guides, Class notes & Summaries

A physical or mental impairment that substantially limits one or more major life activities, a record of having such an impairment or being regarded as having such an impairment. CORRECT ANSWER disability A person's religious or spiritual beliefs and practices, or his or her denominational affiliations. CORRECT ANSWER religion Housing constructed prior to 1978, which under the Lead Based Paint Disclosure Law, requires a Lead Based Paint Addendum included with the Offer to Purchase. The ex...

How many square feet are in an acre? correct answers 43,560 square feet How many feet in a mile? correct answers 5280 Loan to Value ratio correct answers LTV = (loan amount ÷ value) x 100 Transfer fee correct answers Transfer Fee = Purchase Price ÷ 100 x $.30 example $300,000 ÷ 100 = 3,000 x .30 = $900 Calculating Monthly Taxes correct answers Assessed value x tax rate = annual taxes ÷ 12 = monthly taxes Michael paid $385,000 for his home, which now has an assessed value of...

WI Real Estate Practice Exam Questions & Answers (Graded A)WI Real Estate Practice Exam Questions & Answers (Graded A)WI Real Estate Practice Exam Questions & Answers (Graded A)WI Real Estate Practice Exam Questions & Answers (Graded A) Answer: C The writ of execution is a court order instructing the officer of the court to carry out the decision of the court. It is used in a judgment where the sheriff is told to seize a debtor's property so that it can be sold to pay off a debt. - ANSWER...

WI Real Estate Sales Exam Questions with 100% Correct Answers | Latest Version (2024/2025) Expert Verified | Ace the Test

Answer: C The writ of execution is a court order instructing the officer of the court to carry out the decision of the court. It is used in a judgment where the sheriff is told to seize a debtor's property so that it can be sold to pay off a debt. - correct answerAll of the following would be considered an ENCUMBRANCE except: a. unpaid property taxes, b. An easement necessity, c. A writ of execution, d. A judgment Answer: A A construction lien is given as security to those who perf...

WI Real Estate Practice Exam questions and answers latest update 2023 RATED A+

A promise made, usually by a buyer, to purchase a seller's property under certain terms. correct answers offer to purchase Up front cash or item of value from the potential buyer which indicates their intention to make good on their offer to purchase. correct answers earnest money The right of a person to have the first opportunity either to purchase or lease real property. correct answers right of first refusal A component of binding acceptance. Delivery can occur by fax, by mail, or ...

WI Real Estate Practice Exam questions and answers latest update 2023 RATED A+

Which contract is used when one party agrees to use the real estate of another in exchange for periodic payments? - correct answerA lease What is a lessor's future interest in a property called? - correct answerA reversionary interest Which of the following is not a government power? - correct answerForeclosure Which of the following is not individual property under Wisconsin's Marital Property Act? - correct answerPredetermination date property. What interest do parties transfer w...

WI Real Estate Exam Questions and Answers 100% Correct WI Real Estate Exam Questions and Answers 100% Correct WI Real Estate Exam Questions and Answers 100% Correct WI Real Estate Exam Questions and Answers 100% Correct A conveyance by a minor - ANSWER-Must be executed by an authorized guardian Adverse possession occurs if the use of the land is - ANSWER-Actual and open The only way that an agent may sign a conveyance for another is if - ANSWER-The agent has written authorization fro...