WI Real-Estate Exam Questions with Verified
Answers. 100% Complete 2025-2026 Revised
Latest Update [Graded A+.].
Which of the following is NOT typically considered client funds? - CORRECT ANS>>Security
deposits collected by a property owner
A buyer wants to have the interest earned on their earnest money deposit. Which of the
following statements is most correct? - CORRECT ANS>>The firm cannot draft an escrow
agreement for the buyer and seller.
Which of the following does NOT create a voidable contract? - CORRECT ANS>>A counter-offer
signed by an authorized power of attorney
To ensure compliance with the lead-based paint (LBP) disclosure law, licensees: - CORRECT
ANS>>must inform the seller of the seller's obligations under the federal LBP laws
When renting commercial property to tenants, the property owner or property manager: -
CORRECT ANS>>needs to be aware of any local equal opportunity ordinances that may affect
commercial or industrial properties
Chain of title refers to: - CORRECT ANS>>the succession of conveyances from some starting
point whereby the current owner derives title to the real estate
A borrower is obtaining a loan for $130,000. The loan is 95% of the property's value. The
interest rate on the loan is 5% after the borrower pays two points. How much do the two
points cost the borrower? - CORRECT ANS>>$2,600
When purchasing a condominium the buyer has the right to a copy of the condominium
declaration bylaws within how many days prior to closing? - CORRECT ANS>>15
,The duties to all parties include all of the following EXCEPT - CORRECT ANS>>negotiation
Discount points enable a borrower to - CORRECT ANS>>reduce the initial interest rate of the
loan
A seller lists a house with Salesperson A. A buyer attends Salesperson A's open house and
decides to write an offer after signing a buyer agency agreement with Salesperson A. Which of
the following correctly identifies the relationship between the buyer, the seller, and
Salesperson A? - CORRECT ANS>>Salesperson A has a multiple representation relationship
Which of the following would violate advertising rules for real estate licensees? - CORRECT
ANS>>Advertising a property that has already been sold
The WB-11 Residential Offer to Purchase does NOT have any information at lines 557 and 558.
This means that - CORRECT ANS>>binding acceptance can only occur by delivery to the Party,
not the agent
D: the buyer will accept delivery in any form
Which of the following sales would need to include a lead-based paint addendum to the Offer
to Purchase? - CORRECT ANS>>A duplex built prior to 1978
A firm has a contract with a person to pay a finder's fee if the person finds a buyer for the
firm's listing. This is permissible if the - CORRECT ANS>>person has a salesperson's license
Current municipality land uses and resources, forecasts community growth, and sets
objectives for the development that is desirable for the community's vision of its future
defines the: - CORRECT ANS>>master plan
Which of the following situations requires a written earnest money disbursement agreement
prior to disbursement of funds when the earnest money is held by the listing firm? - CORRECT
ANS>>A buyer is not able to obtain financing
, How can a buyer terminate a buyer agency agreement according to the terms of the WB-36
Buyer Agency Agreement? - CORRECT ANS>>In writing
When presenting an offer to a For Sale by Owner (FSBO), a buyer's licensee will present what
form to the seller? - CORRECT ANS>>Disclosure to Customers
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? - CORRECT ANS>>Notice Relating to Offer to Purchase
According to the terms of the Extension of Listing section of the WB-1 Residential Listing
Contract, how long is the listing contract extended for protected buyers? - CORRECT
ANS>>One year
How long does a licensee have to notify the DSPS of a misdemeanor conviction? - CORRECT
ANS>>48 hours
Housing that meets the Fair Housing Act's definition of "housing for older persons" may
legally exclude: - CORRECT ANS>>families with children
Which of the following statements is INCORRECT regarding a licensee's duty to inspect real
estate? - CORRECT ANS>>A licensee cannot write an offer for a buyer without attending a
showing.
All of the following are true regarding discount points EXC - CORRECT ANS>>all loans have
discount points associated with them
What is the purpose of a deed? - CORRECT ANS>>It transfers legal title from a grantor to a
grantee
Answers. 100% Complete 2025-2026 Revised
Latest Update [Graded A+.].
Which of the following is NOT typically considered client funds? - CORRECT ANS>>Security
deposits collected by a property owner
A buyer wants to have the interest earned on their earnest money deposit. Which of the
following statements is most correct? - CORRECT ANS>>The firm cannot draft an escrow
agreement for the buyer and seller.
Which of the following does NOT create a voidable contract? - CORRECT ANS>>A counter-offer
signed by an authorized power of attorney
To ensure compliance with the lead-based paint (LBP) disclosure law, licensees: - CORRECT
ANS>>must inform the seller of the seller's obligations under the federal LBP laws
When renting commercial property to tenants, the property owner or property manager: -
CORRECT ANS>>needs to be aware of any local equal opportunity ordinances that may affect
commercial or industrial properties
Chain of title refers to: - CORRECT ANS>>the succession of conveyances from some starting
point whereby the current owner derives title to the real estate
A borrower is obtaining a loan for $130,000. The loan is 95% of the property's value. The
interest rate on the loan is 5% after the borrower pays two points. How much do the two
points cost the borrower? - CORRECT ANS>>$2,600
When purchasing a condominium the buyer has the right to a copy of the condominium
declaration bylaws within how many days prior to closing? - CORRECT ANS>>15
,The duties to all parties include all of the following EXCEPT - CORRECT ANS>>negotiation
Discount points enable a borrower to - CORRECT ANS>>reduce the initial interest rate of the
loan
A seller lists a house with Salesperson A. A buyer attends Salesperson A's open house and
decides to write an offer after signing a buyer agency agreement with Salesperson A. Which of
the following correctly identifies the relationship between the buyer, the seller, and
Salesperson A? - CORRECT ANS>>Salesperson A has a multiple representation relationship
Which of the following would violate advertising rules for real estate licensees? - CORRECT
ANS>>Advertising a property that has already been sold
The WB-11 Residential Offer to Purchase does NOT have any information at lines 557 and 558.
This means that - CORRECT ANS>>binding acceptance can only occur by delivery to the Party,
not the agent
D: the buyer will accept delivery in any form
Which of the following sales would need to include a lead-based paint addendum to the Offer
to Purchase? - CORRECT ANS>>A duplex built prior to 1978
A firm has a contract with a person to pay a finder's fee if the person finds a buyer for the
firm's listing. This is permissible if the - CORRECT ANS>>person has a salesperson's license
Current municipality land uses and resources, forecasts community growth, and sets
objectives for the development that is desirable for the community's vision of its future
defines the: - CORRECT ANS>>master plan
Which of the following situations requires a written earnest money disbursement agreement
prior to disbursement of funds when the earnest money is held by the listing firm? - CORRECT
ANS>>A buyer is not able to obtain financing
, How can a buyer terminate a buyer agency agreement according to the terms of the WB-36
Buyer Agency Agreement? - CORRECT ANS>>In writing
When presenting an offer to a For Sale by Owner (FSBO), a buyer's licensee will present what
form to the seller? - CORRECT ANS>>Disclosure to Customers
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? - CORRECT ANS>>Notice Relating to Offer to Purchase
According to the terms of the Extension of Listing section of the WB-1 Residential Listing
Contract, how long is the listing contract extended for protected buyers? - CORRECT
ANS>>One year
How long does a licensee have to notify the DSPS of a misdemeanor conviction? - CORRECT
ANS>>48 hours
Housing that meets the Fair Housing Act's definition of "housing for older persons" may
legally exclude: - CORRECT ANS>>families with children
Which of the following statements is INCORRECT regarding a licensee's duty to inspect real
estate? - CORRECT ANS>>A licensee cannot write an offer for a buyer without attending a
showing.
All of the following are true regarding discount points EXC - CORRECT ANS>>all loans have
discount points associated with them
What is the purpose of a deed? - CORRECT ANS>>It transfers legal title from a grantor to a
grantee
