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 homestead protection?

A	Net cash remaining to investor after sale of investment property
B	The status provided to a home owner's principal residence that protects the home against judgement up to a specified amount.
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 2

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

A	Lessor
B	Lessee
C	Buyer
D	Agent

Question 3

The salesperson license fee costs how much?

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

Question 4

An easement by prescription may establish:

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

Question 5

Does Wyoming have dower laws?

A	Yes
B	No

Question 6

Is Wyoming a community property state?

A	No
B	Yes

Question 7

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

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

Question 8

Does Wyoming allow reciprocity with other states?

A	No
B	Yes

Question 9

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 sit and pass the required exam
D	Must have lived in the state for more than a year

Question 10

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 11

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 standard boiler plate will.
D	a will that has been approved by each family member.

Question 12

Does Wyoming have homestead laws?

A	No
B	Yes

Question 13

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

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

Question 14

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

Question 15

The license law is administered by:

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

Question 16

What tenancies does Wyoming allow?

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

Question 17

What term means "going to the state?"

A	Eminent Domain
B	Taxation
C	police power
D	escheat

Question 17 Explanation:

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

Question 18

Standing trees would be considered:

A	Real property
B	Personal Property
C	Emblements
D	Chattels

Question 19

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

A	Premises
B	novation
C	Habendum
D	acknowledgement

Question 20

Which is not necessary for a valid contract?

A	acceptance
B	legal object
C	offer
D	due date

Question 21

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

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

Question 22

Does Wyoming allow Holographic wills?

A	Yes
B	No

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