Wyoming Real Estate Exam Prep

WY Salesperson Practice Exam

Our Wyoming Real Estate Exam Preparation guide will have you quickly prepared for your upcoming Salesperson License Exam. We have helped license over 50,000 students with an exam pass rate of over 95%. The practice exam questions and answers were created by industry experts and are constantly updated to Wyoming’s licensing requirements. We stand by our real estate practice exams and offer an exam pass guarantee.

How to Get Your Real Estate License Wyoming

If you want to get your real estate license in Wyoming, you must complete 54 hours of approved real estate classes. When you satisfy the educational requirements, you will be eligible to take the Wyoming real estate exam. With our Wyoming real estate study guides, we guarantee that you will pass this difficult test on your first attempt.

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Wyoming License Requirements

All real estate applicants need to have reached the age of majority, and must provide proof that they bear a good reputation for honesty, trustworthiness, integrity and have the competence to transact business as a licensed agent
The applicant must be sponsored by a Wyoming licensed real estate broker who will supervise and train the salesperson.
The applicant needs to successfully complete at least 54 hours of approved real estate education courses at an approved real estate school, consisting of 30 hours of Salesperson I and 24 hours of Salesperson II.
The applicant must successfully pass the salesperson real estate examinations.

Wyoming Sample Practice Real Estate Exam Questions and Answers

Wyoming State Section

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Question 1

What is a holographic will?

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

Question 2

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 3

What tenancies does Wyoming allow?

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

Question 4

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

A	novation
B	acknowledgement
C	Habendum
D	Premises

Question 5

Does Wyoming have homestead laws?

A	Yes
B	No

Question 6

Does Wyoming have dower laws?

A	Yes
B	No

Question 7

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

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

Question 8

The salesperson license fee costs how much?

A	$90.00
B	$100.00
C	$140.00
D	$50.00

Question 9

The license law is administered by:

A	Wyoming Department of Education
B	Wyoming Department of Taxation and Finance
C	Wyoming Real Estate Commission
D	Wyoming Department of Justice

Question 10

An easement by prescription may establish:

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

Question 11

What is homestead protection?

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

Question 12

Does Wyoming allow Holographic wills?

A	No
B	Yes

Question 13

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

A	Buyer
B	Lessor
C	Agent
D	Lessee

Question 14

Which of the following would not put a sales person in jeopardy of losing their license in Wyoming?

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

Question 15

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

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

Question 16

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

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

Question 17

Does Wyoming allow reciprocity with other states?

A	Yes
B	No

Question 18

Is Wyoming a community property state?

A	No
B	Yes

Question 19

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

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

Question 20

Standing trees would be considered:

A	Chattels
B	Real property
C	Personal Property
D	Emblements

Question 21

What term means "going to the state?"

A	Taxation
B	Eminent Domain
C	escheat
D	police power

Question 21 Explanation:

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

Question 22

Which is not necessary for a valid contract?

A	offer
B	legal object
C	due date
D	acceptance

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