Wisconsin Real Estate Exam Prep

WI Salesperson Practice Exam

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Wisconsin Sample Practice Real Estate Exam Questions and Answers

Wisconsin State Section

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Question 1

Which of the following is a landlord's option for a tenant not paying the rent?

A	unlawful detainer action in court
B	lock the tenant out of the apartment
C	shutoff the gas
D	shut off the power

Question 2

Which of the following isn't part of a deed?

A	Premises
B	novation
C	acknowledgement
D	Habendum

Question 3

Which of the following is required for an applicant to receive a Real Estate License?

A	Must have a Bachelors degree
B	Must be 25 or older
C	Must have lived in the state for more than a year
D	Must sit and pass the required exam

Question 4

How soon can a broker receive a commission check after a closing in Wisconsin?

A	After the transaction is completed and funded.
B	Once the seller agrees to the price.
C	When the Buyer moves in.
D	Once the offer sheet is signed.

Question 5

Does Wisconsin allow Holographic wills?

A	No
B	Yes

Question 6

Which is not necessary for a valid contract?

A	legal object
B	due date
C	acceptance
D	offer

Question 7

Is Wisconsin a community property state?

A	Yes
B	No

Question 8

What tenancies does Wisconsin allow?

A	Tenancy by the entirety
B	Both
C	Neither
D	Joint tenancy

Question 9

In what circumstances, if any, can a broker in Wisconsin who is serving as an intermediary representing both parties collect compensation from both the buyer and the seller?

A	Only when both buyer and seller have legal representation
B	Only when both buyer and seller give informed consent to this arrangement
C	None; the broker may only collect compensation from one party to a transaction
D	In most circumstances, except when the buyer and seller are related

Question 10

Who is responsible for maintaining a habitable property and for complying with local housing and building codes?

A	Lessee
B	Buyer
C	Lessor
D	Agent

Question 11

Standing trees would be considered:

A	Chattels
B	Real property
C	Emblements
D	Personal Property

Question 12

Which of the following is not a state that participates in reciprocity?

A	Indiana
B	New York
C	Illinois

Question 13

Does Wisconsin allow reciprocity with other states?

A	No
B	Yes

Question 14

Does Wisconsin have homestead laws?

A	No
B	Yes

Question 15

The Salesperson license fee costs how much?

A	$75
B	$70
C	$50
D	$80

Question 16

What term means "going to the state?"

A	escheat
B	Taxation
C	Eminent Domain
D	police power

Question 16 Explanation:

Escheat is if someone dies and there is no one to inherit or no will the property goes to the state.

Question 17

What is a holographic will?

A	a will and testament that has been entirely handwritten and signed by the testator.
B	a will that displays in 3D
C	a will that has been approved by each family member.
D	a standard boiler plate will.

Question 18

The license law is administered by:

A	Pearson VUE
B	The Department of State
C	The State Real Estate Commission
D	Sam Jones

Question 18 Explanation:

Pearson VUE is the board-approved vendor,

Question 19

Mortgage "discount" points only apply if which of the following conditions are met?

A	The seller has agreed to pay 1% of the closing costs
B	The loan does not close and the buyer owes the lender for services rendered
C	The interest rate on the mortgage loan has been lowered by 1% for each point charged
D	The interest rate on the mortgage loan has been lowered by 2% for each point charged

Question 20

Which of the following would not put a salesperson in jeopardy of losing their license in Wisconsin?

A	Being authorized to accept and excessive commission.
B	Convicted of a felony
C	Depositing his/her clients escrow money into a personal account
D	Placing an ad claiming to be a broker when they are not.

Question 21

What is homestead protection?

A	The status provided to a home owner's principal residence that protects the home against judgement up to a specified amount.
B	Net cash remaining to investor after sale of investment property
C	Gradual subsidence of waters, leaving dry land
D	The estimated value that an asset will have at then end of it's useful life

Question 22

After getting the real estate license, how often must you take Continuing Education classes?

A	9 hours every 2 years
B	18 hours every 2 years
C	9 hours every year
D	18 hours every year

Question 23

Does Wisconsin have dower laws?

A	Yes
B	No

Question 24

An easement by prescription may establish:

A	use of property
B	who owes back taxes
C	homestead rights
D	a claim to title

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Wisconsin Real Estate Exam Prep

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