WI Real Estate Sales Exam QUESTIONS WITH CORRECT ANSWERS

WI Real Estate Sales Exam QUESTIONS
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WITH CORRECT ANSWERS |\ |\




The listing broker is the seller's - CORRECT ANSWERS
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✔✔agent


A licensee writes an offer for a buyer on the licensee's
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listing. The buyer is the licensee's - CORRECT ANSWERS
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✔✔customer


When a firm is representing only one side of the
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transaction, the firm is practicing what type of agency? - |\ |\ |\ |\ |\ |\ |\ |\ |\ |\



CORRECT ANSWERS ✔✔Single agency |\ |\ |\




Multiple Representation may only occur if - CORRECT
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ANSWERS ✔✔there is full written consent and disclosure
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from all parties
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A broker shall provide a copy of the disclosure form to a
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client: - CORRECT ANSWERS ✔✔no later than the time of
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agency agreement |\




Agency disclosure is required in what types of real estate
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transactions? - CORRECT ANSWERS ✔✔All |\ |\ |\ |\

,When acting as a buyer's agent, the agency relationship
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must be disclosed by the earlier of: - CORRECT ANSWERS
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✔✔first contact, showing, negotiation w/seller or listing
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broker


What are the agency disclosure requirements, including a
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buyer's acknowledgment of the disclosure, for a buyer
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intending to purchase a duplex versus a buyer intending
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to purchase a commercial warehouse? - CORRECT
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ANSWERS ✔✔Give disclosure for both. Need |\ |\ |\ |\ |\ |\



acknowledgment for residential, not commercial. |\ |\ |\ |\




A property manager is showing a unit to a prospective
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tenant, In what situations would a property manager need
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to be licensed? - CORRECT ANSWERS ✔✔If signing leases
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on behalf of landlord.
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A licensee is representing a family member in the
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purchase of property. At minimum, where would the
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licensee disclose this information to the other party? -
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CORRECT ANSWERS ✔✔On the offer to purchase. |\ |\ |\ |\ |\ |\




What types of referral fees may be paid or received
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without disclosure to the parties in a real estate
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transaction? - CORRECT ANSWERS ✔✔R.E. licensee to R.E. |\ |\ |\ |\ |\ |\ |\



licensee
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, When must a licensee, selling personally owned property,
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disclose to the buyer his licensed status? - CORRECT
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ANSWERS ✔✔First contact, first showing, negotiation
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Tie in arrangements are legal under what circumstances?
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- CORRECT ANSWERS ✔✔builder involved
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An unlicensed personal assistant can be employed by: -
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CORRECT ANSWERS ✔✔Any licensee in firm, sales |\ |\ |\ |\ |\ |\ |\



employee


If an agent agrees to write an offer on a property for a
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buyer only if the buyer then agrees to list his current
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property with that agent, that would be an illegal -
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CORRECT ANSWERS ✔✔tie-in |\ |\




Which agency duty survives the transaction? - CORRECT
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ANSWERS ✔✔Confidentiality |\




What are the additional duties to a client? - CORRECT
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ANSWERS ✔✔N-negotiation |\




O-obligation
L-loyalty
I-information