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.

Wyoming Sample Practice Real Estate Exam Questions and Answers

Wyoming State Section

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Question 1

The salesperson license fee costs how much?

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

Question 2

Does Wyoming allow Holographic wills?

A	No
B	Yes

Question 3

Does Wyoming allow reciprocity with other states?

A	No
B	Yes

Question 4

What term means "going to the state?"

A	Eminent Domain
B	escheat
C	Taxation
D	police power

Question 4 Explanation:

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

Question 5

The license law is administered by:

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

Question 6

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

A	Habendum
B	Premises
C	acknowledgement
D	novation

Question 7

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 8

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

Question 9

Is Wyoming a community property state?

A	Yes
B	No

Question 10

What is homestead protection?

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

Question 11

What tenancies does Wyoming allow?

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

Question 12

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

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

Question 13

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

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

Question 14

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

A	Lessee
B	Lessor
C	Buyer
D	Agent

Question 15

Does Wyoming have homestead laws?

A	No
B	Yes

Question 16

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	Depositing his/her clients escrow money into a personal account
C	Being authorized to accept and excessive commission.
D	Convicted of a felony

Question 17

What is a holographic will?

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

Question 18

An easement by prescription may establish:

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

Question 19

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 20

Which is not necessary for a valid contract?

A	due date
B	offer
C	acceptance
D	legal object

Question 21

Does Wyoming have dower laws?

A	Yes
B	No

Question 22

Standing trees would be considered:

A	Personal Property
B	Emblements
C	Chattels
D	Real property

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