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.

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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.

For more information on state requirements click here.

Wyoming Sample Practice Real Estate Exam Questions and Answers

Wyoming State Section

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Question 1

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

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

Question 2

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

A	Buyer
B	Lessee
C	Agent
D	Lessor

Question 3

Standing trees would be considered:

A	Real property
B	Personal Property
C	Emblements
D	Chattels

Question 4

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

A	acknowledgement
B	Premises
C	novation
D	Habendum

Question 5

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	The estimated value that an asset will have at then end of it's useful life
C	Gradual subsidence of waters, leaving dry land
D	Net cash remaining to investor after sale of investment property

Question 6

Does Wyoming allow reciprocity with other states?

A	Yes
B	No

Question 7

Is Wyoming a community property state?

A	Yes
B	No

Question 8

Does Wyoming have homestead laws?

A	Yes
B	No

Question 9

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 10

What term means "going to the state?"

A	Eminent Domain
B	escheat
C	Taxation
D	police power

Question 10 Explanation:

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

Question 11

Does Wyoming allow Holographic wills?

A	Yes
B	No

Question 12

The salesperson license fee costs how much?

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

Question 13

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 14

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

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

Question 15

The license law is administered by:

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

Question 16

Does Wyoming have dower laws?

A	No
B	Yes

Question 17

Which is not necessary for a valid contract?

A	acceptance
B	due date
C	legal object
D	offer

Question 18

What tenancies does Wyoming allow?

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

Question 19

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

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

Question 20

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

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

Question 21

An easement by prescription may establish:

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

Question 22

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 give informed consent to this arrangement
D	Only when both buyer and seller have legal representation