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

Does Wyoming allow Holographic wills?

A	Yes
B	No

Question 2

An easement by prescription may establish:

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

Question 3

What is homestead protection?

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

Question 4

What is a holographic will?

A	a will that displays in 3D
B	a standard boiler plate will.
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 5

Which is not necessary for a valid contract?

A	legal object
B	acceptance
C	due date
D	offer

Question 6

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 interest rate on the mortgage loan has been lowered by 2% for each point charged
C	The loan does not close and the buyer owes the lender for services rendered
D	The interest rate on the mortgage loan has been lowered by 1% for each point charged

Question 7

The salesperson license fee costs how much?

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

Question 8

Does Wyoming have homestead laws?

A	No
B	Yes

Question 9

What term means "going to the state?"

A	Eminent Domain
B	Taxation
C	police power
D	escheat

Question 9 Explanation:

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

Question 10

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

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

Question 11

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

A	acknowledgement
B	Habendum
C	Premises
D	novation

Question 12

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

Question 13

The license law is administered by:

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

Question 14

Does Wyoming allow reciprocity with other states?

A	No
B	Yes

Question 15

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 16

Does Wyoming have dower laws?

A	No
B	Yes

Question 17

What tenancies does Wyoming allow?

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

Question 18

Is Wyoming a community property state?

A	Yes
B	No

Question 19

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

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 20

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

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

Question 21

Standing trees would be considered:

A	Personal Property
B	Chattels
C	Emblements
D	Real property

Question 22

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

A	Agent
B	Buyer
C	Lessee
D	Lessor

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