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Wyoming Real Estate Broker — Requirements & Free Practice

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Real Estate Associate Broker License

Individual broker license under a responsible broker, without supervisory responsibilities. Active and inactive status belong to this license.

Licensing authority: Wyoming Real Estate Commission · Application information

Licensure for applicants actively licensed in another jurisdiction
Wyoming Real Estate Broker Licensing Examination — State Portion
Age
Must have reached the age of majority.
Applicant status
Presently hold an active real estate license in another jurisdiction; certify a valid like-license in good standing and required active practice.
Application
Submit the completed application, required fee, photograph, proof of legal presence and legal name, fingerprints and fingerprint processing payment.
Character
Provide satisfactory proof of honesty, trustworthiness, integrity and competence; disclose criminal and professional disciplinary history.
Course assessment
Pass the approved course assessments. A Commission-approved Broker Course I challenge examination may replace class attendance; course assessments and education certificates are applicant education conditions.
Course time
Complete Commission-approved prelicensing coursework within one year before application.
Education
Complete Wyoming Law and Broker Course II.
Experience
Actively served as a real estate salesperson for two of the four years immediately preceding application.
Insurance
Provide errors and omissions insurance meeting Wyoming requirements for active licensure.
License history
Provide certified histories from every jurisdiction in which a real estate license is or was held.
Nonresident
Nonresidents must provide service-of-process designation; W.S. 33-28-110 requires a home-state like-license, active practice and certified good standing with no pending complaints for the nonresident like-license route.
Score time
File the complete application within ninety days of the most recent passing score notice; all applicable examination portions must be passed within the six-month period prescribed by Chapter 1, Section 4(h).
Uniform credit
Chapter 1, Section 4(k) accepts the uniform portion as already passed upon proper like-license certification; the applicant supplies licensing evidence rather than a separately specified currently offered national exam score.
Regular active license renewal
No examination is required for this applicant pathway.
Education
Complete 45 hours, including 24 required and 21 elective hours during the prior three years.
Existing license
Active license on its three-year renewal cycle.
Insurance
Provide proof of required E&O coverage.
Renewal
Submit complete application and fees on or before December 31 of the third year.

Official no-examination sources

Effective from 2026-09-22.

Conversion from the other Wyoming broker license type without an active license elsewhere
Age
Must have reached the age of majority.
Applicant status
No presently active real estate license in another jurisdiction.
Application
Submit the completed application, required fee, photograph, proof of legal presence and legal name, fingerprints and fingerprint processing payment.
Character
Provide satisfactory proof of honesty, trustworthiness, integrity and competence; disclose criminal and professional disciplinary history.
Conversion form
The Board conversion form lists the following documents: TO CONVERT FROM A RESPONSIBLE BROKER TO AN ASSOCIATE BROKER, INCLUDE: o $30.00 Transfer fee (check payable to WYREC or credit card authorization form) o Non-Resident applicant: Certified license history from your resident state
Course assessment
Pass the approved course assessments. A Commission-approved Broker Course I challenge examination may replace class attendance; course assessments and education certificates are applicant education conditions.
Course time
Complete Commission-approved prelicensing coursework within one year before application.
Current wyoming license
Hold a Wyoming responsible broker license.
Education
Meet the applicable broker education requirements; associate-to-responsible conversion expressly requests broker management within two years.
Examination recognition
W.S. 33-28-107(a) and Chapter 1, Section 3 retain the broker examination requirement. Prior passage of a currently offered required examination remains an examination leaf under this survey contract; the Board conversion form does not request new examination score reports.
Experience
Actively served as a real estate salesperson for two of the four years immediately preceding application.
Insurance
Provide errors and omissions insurance meeting Wyoming requirements for active licensure.
License history
Provide certified histories from every jurisdiction in which a real estate license is or was held.
Nonresident
Nonresidents must provide service-of-process designation; W.S. 33-28-110 requires a home-state like-license, active practice and certified good standing with no pending complaints for the nonresident like-license route.
Score time
File the complete application within ninety days of the most recent passing score notice; all applicable examination portions must be passed within the six-month period prescribed by Chapter 1, Section 4(h).
Conversion from the other Wyoming broker license type while actively licensed elsewhere
Wyoming Real Estate Broker Licensing Examination — State Portion
Age
Must have reached the age of majority.
Applicant status
Presently actively licensed in another jurisdiction.
Application
Submit the completed application, required fee, photograph, proof of legal presence and legal name, fingerprints and fingerprint processing payment.
Character
Provide satisfactory proof of honesty, trustworthiness, integrity and competence; disclose criminal and professional disciplinary history.
Conversion form
The Board conversion form lists the following documents: TO CONVERT FROM A RESPONSIBLE BROKER TO AN ASSOCIATE BROKER, INCLUDE: o $30.00 Transfer fee (check payable to WYREC or credit card authorization form) o Non-Resident applicant: Certified license history from your resident state
Course assessment
Pass the approved course assessments. A Commission-approved Broker Course I challenge examination may replace class attendance; course assessments and education certificates are applicant education conditions.
Course time
Complete Commission-approved prelicensing coursework within one year before application.
Current wyoming license
Hold a Wyoming responsible broker license.
Education
Meet the applicable broker education requirements; associate-to-responsible conversion expressly requests broker management within two years.
Examination recognition
W.S. 33-28-107(a) and Chapter 1, Section 3 retain the broker examination requirement. Prior passage of a currently offered required examination remains an examination leaf under this survey contract; the Board conversion form does not request new examination score reports.
Experience
Actively served as a real estate salesperson for two of the four years immediately preceding application.
Insurance
Provide errors and omissions insurance meeting Wyoming requirements for active licensure.
License history
Provide certified histories from every jurisdiction in which a real estate license is or was held.
Nonresident
Nonresidents must provide service-of-process designation; W.S. 33-28-110 requires a home-state like-license, active practice and certified good standing with no pending complaints for the nonresident like-license route.
Score time
File the complete application within ninety days of the most recent passing score notice; all applicable examination portions must be passed within the six-month period prescribed by Chapter 1, Section 4(h).
Uniform credit
Chapter 1, Section 4(k) accepts the uniform portion as already passed upon proper like-license certification; the applicant supplies licensing evidence rather than a separately specified currently offered national exam score.
Reissuance after expiration for an applicant actively licensed elsewhere
Wyoming Real Estate Broker Licensing Examination — State Portion
Age
Must have reached the age of majority.
Applicant status
Presently hold an active real estate license in another jurisdiction; certify a valid like-license in good standing and required active practice.
Application
Submit the completed application, required fee, photograph, proof of legal presence and legal name, fingerprints and fingerprint processing payment.
Character
Provide satisfactory proof of honesty, trustworthiness, integrity and competence; disclose criminal and professional disciplinary history.
Course assessment
Pass the approved course assessments. A Commission-approved Broker Course I challenge examination may replace class attendance; course assessments and education certificates are applicant education conditions.
Course time
Complete Commission-approved prelicensing coursework within one year before application.
Education
Complete Wyoming Law and Broker Course II.
Experience
Actively served as a real estate salesperson for two of the four years immediately preceding application.
Expiration
License expired beyond the statutory grace period; meet all new-applicant requirements applicable to a holder of an active license elsewhere.
Insurance
Provide errors and omissions insurance meeting Wyoming requirements for active licensure.
License history
Provide certified histories from every jurisdiction in which a real estate license is or was held.
Nonresident
Nonresidents must provide service-of-process designation; W.S. 33-28-110 requires a home-state like-license, active practice and certified good standing with no pending complaints for the nonresident like-license route.
Score time
File the complete application within ninety days of the most recent passing score notice; all applicable examination portions must be passed within the six-month period prescribed by Chapter 1, Section 4(h).
Uniform credit
Chapter 1, Section 4(k) accepts the uniform portion as already passed upon proper like-license certification; the applicant supplies licensing evidence rather than a separately specified currently offered national exam score.
Reissuance after expiration beyond the grace period, based on a real estate degree
Age
Must have reached the age of majority.
Applicant status
Applicant does not presently hold an active real estate license in another jurisdiction.
Application
Submit the completed application, required fee, photograph, proof of legal presence and legal name, fingerprints and fingerprint processing payment.
Character
Provide satisfactory proof of honesty, trustworthiness, integrity and competence; disclose criminal and professional disciplinary history.
Course assessment
Pass the approved course assessments. A Commission-approved Broker Course I challenge examination may replace class attendance; course assessments and education certificates are applicant education conditions.
Course time
Complete Commission-approved prelicensing coursework within one year before application.
Degree
Hold a qualifying accredited real estate degree under W.S. 33-28-102(b)(xiv), including the prescribed core courses and at least eighteen semester or twenty-seven quarter hours. Submit official transcripts.
Degree substitution
The qualifying degree substitutes for the two-of-four-years salesperson experience requirement.
Education
Complete Broker Course I, Broker Course II and Wyoming Law.
Expiration
License expired beyond the statutory grace period; meet all new-applicant requirements including examination.
Insurance
Provide errors and omissions insurance meeting Wyoming requirements for active licensure.
License history
Provide certified histories from every jurisdiction in which a real estate license is or was held.
Nonresident
Nonresidents must provide service-of-process designation; W.S. 33-28-110 requires a home-state like-license, active practice and certified good standing with no pending complaints for the nonresident like-license route.
Score time
File the complete application within ninety days of the most recent passing score notice; all applicable examination portions must be passed within the six-month period prescribed by Chapter 1, Section 4(h).
Reissuance after expiration beyond the grace period, based on experience
Age
Must have reached the age of majority.
Applicant status
Applicant does not presently hold an active real estate license in another jurisdiction.
Application
Submit the completed application, required fee, photograph, proof of legal presence and legal name, fingerprints and fingerprint processing payment.
Character
Provide satisfactory proof of honesty, trustworthiness, integrity and competence; disclose criminal and professional disciplinary history.
Course assessment
Pass the approved course assessments. A Commission-approved Broker Course I challenge examination may replace class attendance; course assessments and education certificates are applicant education conditions.
Course time
Complete Commission-approved prelicensing coursework within one year before application.
Education
Complete Broker Course I, Broker Course II and Wyoming Law.
Experience
Actively served as a real estate salesperson for two of the four years immediately preceding application.
Expiration
License expired beyond the statutory grace period. Meet all new-applicant requirements, including the appropriate written examination.
Insurance
Provide errors and omissions insurance meeting Wyoming requirements for active licensure.
License history
Provide certified histories from every jurisdiction in which a real estate license is or was held.
Nonresident
Nonresidents must provide service-of-process designation; W.S. 33-28-110 requires a home-state like-license, active practice and certified good standing with no pending complaints for the nonresident like-license route.
Score time
File the complete application within ninety days of the most recent passing score notice; all applicable examination portions must be passed within the six-month period prescribed by Chapter 1, Section 4(h).
Late renewal and reactivation during the grace period
No examination is required for this applicant pathway.
Education
Complete 45 hours, including 24 required and 21 elective hours.
Existing license
Held an active license on December 31 and missed renewal.
Practice
Do not practice while inactive pending reactivation.
Renewal
Submit the complete renewal application, continuing education and fees by March 1, with the additional processing fee.

Official no-examination sources

Effective from 2026-09-22.

Regular inactive license renewal
No examination is required for this applicant pathway.
Education
Required and continuing education are not necessary for inactive renewal.
Existing license
Inactive license.
Practice
May not conduct licensed real estate activity while inactive.
Renewal
Renew on the regular three-year cycle using prescribed forms and fees.

Official no-examination sources

Effective from 2026-09-22.

First renewal of a newly issued active license
No examination is required for this applicant pathway.
Education
Continuing education is not required for this first renewal.
Existing license
Newly issued active license.
Insurance
Maintain required E&O insurance.
Renewal
Renew by December 31 of the issuance year; submit application and required fees.

Official no-examination sources

Effective from 2026-09-22.

Initial licensure by examination based on a real estate degree
Age
Must have reached the age of majority.
Applicant status
Applicant does not presently hold an active real estate license in another jurisdiction.
Application
Submit the completed application, required fee, photograph, proof of legal presence and legal name, fingerprints and fingerprint processing payment.
Character
Provide satisfactory proof of honesty, trustworthiness, integrity and competence; disclose criminal and professional disciplinary history.
Course assessment
Pass the approved course assessments. A Commission-approved Broker Course I challenge examination may replace class attendance; course assessments and education certificates are applicant education conditions.
Course time
Complete Commission-approved prelicensing coursework within one year before application.
Degree
Hold a qualifying accredited real estate degree under W.S. 33-28-102(b)(xiv), including the prescribed core courses and at least eighteen semester or twenty-seven quarter hours. Submit official transcripts.
Degree substitution
The qualifying degree substitutes for the two-of-four-years salesperson experience requirement.
Education
Complete Broker Course I, Broker Course II and Wyoming Law.
Insurance
Provide errors and omissions insurance meeting Wyoming requirements for active licensure.
License history
Provide certified histories from every jurisdiction in which a real estate license is or was held.
Nonresident
Nonresidents must provide service-of-process designation; W.S. 33-28-110 requires a home-state like-license, active practice and certified good standing with no pending complaints for the nonresident like-license route.
Score time
File the complete application within ninety days of the most recent passing score notice; all applicable examination portions must be passed within the six-month period prescribed by Chapter 1, Section 4(h).
Initial licensure by examination based on experience
Age
Must have reached the age of majority.
Applicant status
Applicant does not presently hold an active real estate license in another jurisdiction.
Application
Submit the completed application, required fee, photograph, proof of legal presence and legal name, fingerprints and fingerprint processing payment.
Character
Provide satisfactory proof of honesty, trustworthiness, integrity and competence; disclose criminal and professional disciplinary history.
Course assessment
Pass the approved course assessments. A Commission-approved Broker Course I challenge examination may replace class attendance; course assessments and education certificates are applicant education conditions.
Course time
Complete Commission-approved prelicensing coursework within one year before application.
Education
Complete Broker Course I, Broker Course II and Wyoming Law.
Experience
Actively served as a real estate salesperson for two of the four years immediately preceding application.
Insurance
Provide errors and omissions insurance meeting Wyoming requirements for active licensure.
License history
Provide certified histories from every jurisdiction in which a real estate license is or was held.
Nonresident
Nonresidents must provide service-of-process designation; W.S. 33-28-110 requires a home-state like-license, active practice and certified good standing with no pending complaints for the nonresident like-license route.
Score time
File the complete application within ninety days of the most recent passing score notice; all applicable examination portions must be passed within the six-month period prescribed by Chapter 1, Section 4(h).
First renewal of a newly issued inactive license
No examination is required for this applicant pathway.
Education
No continuing education required.
Existing license
Newly issued inactive license.
Practice
May not conduct licensed real estate activity while inactive.
Renewal
Renew by December 31 of issuance year; fees and forms required.

Official no-examination sources

Effective from 2026-09-22.

Activation after inactivation for missing insurance
No examination is required for this applicant pathway.
Education
Meet the applicable current education requirements for activation.
Existing license
License placed inactive for failure to provide insurance.
Fees
Submit required activation forms and fees.
Insurance
Provide required proof of insurance and obtain Commission activation before practicing.

Official no-examination sources

Effective from 2026-09-22.

Expedited licensure for a military service member or military spouse licensed elsewhere
Wyoming Real Estate Broker Licensing Examination — State Portion
Age
Must have reached the age of majority.
Applicant status
Presently hold an active real estate license in another jurisdiction; certify a valid like-license in good standing and required active practice.
Application
Submit the completed application, required fee, photograph, proof of legal presence and legal name, fingerprints and fingerprint processing payment.
Character
Provide satisfactory proof of honesty, trustworthiness, integrity and competence; disclose criminal and professional disciplinary history.
Course assessment
Pass the approved course assessments. A Commission-approved Broker Course I challenge examination may replace class attendance; course assessments and education certificates are applicant education conditions.
Course time
Complete Commission-approved prelicensing coursework within one year before application.
Education
Complete Wyoming Law and Broker Course II.
Expedited process
W.S. 33-1-117(b) provides issuance within thirty days after a completed application; an applicant licensed in good standing elsewhere for at least five consecutive years may request the expedited license without filing a completed application. Complete required procedures and fees; subsection (k) preserves other applicable licensure requirements.
Experience
Actively served as a real estate salesperson for two of the four years immediately preceding application.
Insurance
Provide errors and omissions insurance meeting Wyoming requirements for active licensure.
License history
Provide certified histories from every jurisdiction in which a real estate license is or was held.
Military experience
Relevant military education and training must be considered; relevant spouse work experience, including part-time and volunteer work, may count.
Military status
Qualify as a military service member or military spouse under W.S. 33-1-117(a); provide military status evidence and applicable orders or honorable-release evidence.
Nonresident
Nonresidents must provide service-of-process designation; W.S. 33-28-110 requires a home-state like-license, active practice and certified good standing with no pending complaints for the nonresident like-license route.
Score time
File the complete application within ninety days of the most recent passing score notice; all applicable examination portions must be passed within the six-month period prescribed by Chapter 1, Section 4(h).
Uniform credit
Chapter 1, Section 4(k) accepts the uniform portion as already passed upon proper like-license certification; the applicant supplies licensing evidence rather than a separately specified currently offered national exam score.
Reactivation of an inactive license
No examination is required for this applicant pathway.
Education
Complete 45 hours, including 24 required and 21 elective hours.
Existing license
Hold an inactive license.
Insurance
Provide current required E&O insurance; do not practice until activated.
Reactivation
Submit an application, all required fees and proof of current required/elective education under Chapter 4, Sections 8 and 9.

Official no-examination sources

Effective from 2026-09-22.

Transfer to another real estate company
No examination is required for this applicant pathway.
Documents
Submit the transfer form, fee, E&O proof and nonresident certified license history; obtain the required signatures. Responsible brokers must document company appointment, ownership/management role, trust account or funds holder and office zoning as applicable.
Existing license
Hold the applicable Wyoming broker license.
Practice
Obtain Commission reissuance before practicing through the new affiliation.

Official no-examination sources

Effective from 2026-09-22.

Real Estate Responsible Broker License

Individual responsible broker license with company supervision responsibilities. A degree alone does not replace the statutory experience requirement.

Licensing authority: Wyoming Real Estate Commission · Application information

Licensure for applicants actively licensed in another jurisdiction
Wyoming Real Estate Broker Licensing Examination — State Portion
Age
Must have reached the age of majority.
Applicant status
Presently hold an active real estate license in another jurisdiction; certify a valid like-license in good standing and required active practice.
Application
Submit the completed application, required fee, photograph, proof of legal presence and legal name, fingerprints and fingerprint processing payment.
Broker management
Chapter 1, Section 3(c)(iv) requires a Commission-approved broker management course within two years before application.
Character
Provide satisfactory proof of honesty, trustworthiness, integrity and competence; disclose criminal and professional disciplinary history.
Company role
Be an officer, partner, manager or owner of the supervised company. A resident sole proprietor need not acquire an additional company license under W.S. 33-28-109(a).
Course assessment
Pass the approved course assessments. A Commission-approved Broker Course I challenge examination may replace class attendance; course assessments and education certificates are applicant education conditions.
Course time
Complete Commission-approved prelicensing coursework within one year before application.
Education
Complete Wyoming Law and Broker Course II.
Experience
Actively served as a salesperson or associate broker, or equivalent, for two of the four years immediately preceding application. A degree alone does not replace this statutory requirement.
Handbook management instruction
The Pearson handbook also states: 3. Responsible Broker candidates must complete an 8-hour Wyoming Real Estate Management course approved by the Wyoming Real Estate Commission within one year immediately preceding the Commission’s receipt of the license application.
Insurance
Provide errors and omissions insurance meeting Wyoming requirements for active licensure.
License history
Provide certified histories from every jurisdiction in which a real estate license is or was held.
Nonresident
Nonresidents must provide service-of-process designation; W.S. 33-28-110 requires a home-state like-license, active practice and certified good standing with no pending complaints for the nonresident like-license route.
Score time
File the complete application within ninety days of the most recent passing score notice; all applicable examination portions must be passed within the six-month period prescribed by Chapter 1, Section 4(h).
Trust account
Provide Wyoming trust account or signed funds holder agreement; provide required company organization documents.
Uniform credit
Chapter 1, Section 4(k) accepts the uniform portion as already passed upon proper like-license certification; the applicant supplies licensing evidence rather than a separately specified currently offered national exam score.
Regular active license renewal
No examination is required for this applicant pathway.
Education
Complete 53 hours, including 32 required hours (with broker management) and 21 elective hours during the prior three years.
Existing license
Active license on its three-year renewal cycle.
Insurance
Provide proof of required E&O coverage.
Renewal
Submit complete application and fees on or before December 31 of the third year.

Official no-examination sources

Effective from 2026-09-22.

Conversion from the other Wyoming broker license type without an active license elsewhere
Age
Must have reached the age of majority.
Applicant status
No presently active real estate license in another jurisdiction.
Application
Submit the completed application, required fee, photograph, proof of legal presence and legal name, fingerprints and fingerprint processing payment.
Broker management
Chapter 1, Section 3(c)(iv) requires a Commission-approved broker management course within two years before application.
Character
Provide satisfactory proof of honesty, trustworthiness, integrity and competence; disclose criminal and professional disciplinary history.
Company role
Be an officer, partner, manager or owner of the supervised company. A resident sole proprietor need not acquire an additional company license under W.S. 33-28-109(a).
Conversion form
The Board conversion form lists the following documents: TO CONVERT FROM AN ASSOCIATE BROKER TO A RESPONSIBLE BROKER, INCLUDE: o $30.00 Transfer fee (credit card authorization form) o Proof of Wyoming Broker Management Course taken in the last two (2) years o Meeting minutes/resolution showing resignation of former responsible broker and appointment of new responsible broker o Meeting minutes/resolution showing current officers, partners, managers, and owners to include the new responsible broker o If establishing a new company, you must submit an Application for Corporation, Partnership, LLC, and Sole Proprietorship o Proof of Errors and Omissions Insurance ($100,000/$500,000) o Non-Resident applicant: Certified license history from your resident state
Course assessment
Pass the approved course assessments. A Commission-approved Broker Course I challenge examination may replace class attendance; course assessments and education certificates are applicant education conditions.
Course time
Complete Commission-approved prelicensing coursework within one year before application.
Current wyoming license
Hold a Wyoming associate broker license.
Education
Meet the applicable broker education requirements; associate-to-responsible conversion expressly requests broker management within two years.
Examination recognition
W.S. 33-28-107(a) and Chapter 1, Section 3 retain the broker examination requirement. Prior passage of a currently offered required examination remains an examination leaf under this survey contract; the Board conversion form does not request new examination score reports.
Experience
Actively served as a salesperson or associate broker, or equivalent, for two of the four years immediately preceding application. A degree alone does not replace this statutory requirement.
Handbook management instruction
The Pearson handbook also states: 3. Responsible Broker candidates must complete an 8-hour Wyoming Real Estate Management course approved by the Wyoming Real Estate Commission within one year immediately preceding the Commission’s receipt of the license application.
Insurance
Provide errors and omissions insurance meeting Wyoming requirements for active licensure.
License history
Provide certified histories from every jurisdiction in which a real estate license is or was held.
Nonresident
Nonresidents must provide service-of-process designation; W.S. 33-28-110 requires a home-state like-license, active practice and certified good standing with no pending complaints for the nonresident like-license route.
Score time
File the complete application within ninety days of the most recent passing score notice; all applicable examination portions must be passed within the six-month period prescribed by Chapter 1, Section 4(h).
Trust account
Provide Wyoming trust account or signed funds holder agreement; provide required company organization documents.
Conversion from the other Wyoming broker license type while actively licensed elsewhere
Wyoming Real Estate Broker Licensing Examination — State Portion
Age
Must have reached the age of majority.
Applicant status
Presently actively licensed in another jurisdiction.
Application
Submit the completed application, required fee, photograph, proof of legal presence and legal name, fingerprints and fingerprint processing payment.
Broker management
Chapter 1, Section 3(c)(iv) requires a Commission-approved broker management course within two years before application.
Character
Provide satisfactory proof of honesty, trustworthiness, integrity and competence; disclose criminal and professional disciplinary history.
Company role
Be an officer, partner, manager or owner of the supervised company. A resident sole proprietor need not acquire an additional company license under W.S. 33-28-109(a).
Conversion form
The Board conversion form lists the following documents: TO CONVERT FROM AN ASSOCIATE BROKER TO A RESPONSIBLE BROKER, INCLUDE: o $30.00 Transfer fee (credit card authorization form) o Proof of Wyoming Broker Management Course taken in the last two (2) years o Meeting minutes/resolution showing resignation of former responsible broker and appointment of new responsible broker o Meeting minutes/resolution showing current officers, partners, managers, and owners to include the new responsible broker o If establishing a new company, you must submit an Application for Corporation, Partnership, LLC, and Sole Proprietorship o Proof of Errors and Omissions Insurance ($100,000/$500,000) o Non-Resident applicant: Certified license history from your resident state
Course assessment
Pass the approved course assessments. A Commission-approved Broker Course I challenge examination may replace class attendance; course assessments and education certificates are applicant education conditions.
Course time
Complete Commission-approved prelicensing coursework within one year before application.
Current wyoming license
Hold a Wyoming associate broker license.
Education
Meet the applicable broker education requirements; associate-to-responsible conversion expressly requests broker management within two years.
Examination recognition
W.S. 33-28-107(a) and Chapter 1, Section 3 retain the broker examination requirement. Prior passage of a currently offered required examination remains an examination leaf under this survey contract; the Board conversion form does not request new examination score reports.
Experience
Actively served as a salesperson or associate broker, or equivalent, for two of the four years immediately preceding application. A degree alone does not replace this statutory requirement.
Handbook management instruction
The Pearson handbook also states: 3. Responsible Broker candidates must complete an 8-hour Wyoming Real Estate Management course approved by the Wyoming Real Estate Commission within one year immediately preceding the Commission’s receipt of the license application.
Insurance
Provide errors and omissions insurance meeting Wyoming requirements for active licensure.
License history
Provide certified histories from every jurisdiction in which a real estate license is or was held.
Nonresident
Nonresidents must provide service-of-process designation; W.S. 33-28-110 requires a home-state like-license, active practice and certified good standing with no pending complaints for the nonresident like-license route.
Score time
File the complete application within ninety days of the most recent passing score notice; all applicable examination portions must be passed within the six-month period prescribed by Chapter 1, Section 4(h).
Trust account
Provide Wyoming trust account or signed funds holder agreement; provide required company organization documents.
Uniform credit
Chapter 1, Section 4(k) accepts the uniform portion as already passed upon proper like-license certification; the applicant supplies licensing evidence rather than a separately specified currently offered national exam score.
Reissuance after expiration for an applicant actively licensed elsewhere
Wyoming Real Estate Broker Licensing Examination — State Portion
Age
Must have reached the age of majority.
Applicant status
Presently hold an active real estate license in another jurisdiction; certify a valid like-license in good standing and required active practice.
Application
Submit the completed application, required fee, photograph, proof of legal presence and legal name, fingerprints and fingerprint processing payment.
Broker management
Chapter 1, Section 3(c)(iv) requires a Commission-approved broker management course within two years before application.
Character
Provide satisfactory proof of honesty, trustworthiness, integrity and competence; disclose criminal and professional disciplinary history.
Company role
Be an officer, partner, manager or owner of the supervised company. A resident sole proprietor need not acquire an additional company license under W.S. 33-28-109(a).
Course assessment
Pass the approved course assessments. A Commission-approved Broker Course I challenge examination may replace class attendance; course assessments and education certificates are applicant education conditions.
Course time
Complete Commission-approved prelicensing coursework within one year before application.
Education
Complete Wyoming Law and Broker Course II.
Experience
Actively served as a salesperson or associate broker, or equivalent, for two of the four years immediately preceding application. A degree alone does not replace this statutory requirement.
Expiration
License expired beyond the statutory grace period; meet all new-applicant requirements applicable to a holder of an active license elsewhere.
Handbook management instruction
The Pearson handbook also states: 3. Responsible Broker candidates must complete an 8-hour Wyoming Real Estate Management course approved by the Wyoming Real Estate Commission within one year immediately preceding the Commission’s receipt of the license application.
Insurance
Provide errors and omissions insurance meeting Wyoming requirements for active licensure.
License history
Provide certified histories from every jurisdiction in which a real estate license is or was held.
Nonresident
Nonresidents must provide service-of-process designation; W.S. 33-28-110 requires a home-state like-license, active practice and certified good standing with no pending complaints for the nonresident like-license route.
Score time
File the complete application within ninety days of the most recent passing score notice; all applicable examination portions must be passed within the six-month period prescribed by Chapter 1, Section 4(h).
Trust account
Provide Wyoming trust account or signed funds holder agreement; provide required company organization documents.
Uniform credit
Chapter 1, Section 4(k) accepts the uniform portion as already passed upon proper like-license certification; the applicant supplies licensing evidence rather than a separately specified currently offered national exam score.
Reissuance after expiration beyond the grace period, based on experience
Age
Must have reached the age of majority.
Applicant status
Applicant does not presently hold an active real estate license in another jurisdiction.
Application
Submit the completed application, required fee, photograph, proof of legal presence and legal name, fingerprints and fingerprint processing payment.
Broker management
Chapter 1, Section 3(c)(iv) requires a Commission-approved broker management course within two years before application.
Character
Provide satisfactory proof of honesty, trustworthiness, integrity and competence; disclose criminal and professional disciplinary history.
Company role
Be an officer, partner, manager or owner of the supervised company. A resident sole proprietor need not acquire an additional company license under W.S. 33-28-109(a).
Course assessment
Pass the approved course assessments. A Commission-approved Broker Course I challenge examination may replace class attendance; course assessments and education certificates are applicant education conditions.
Course time
Complete Commission-approved prelicensing coursework within one year before application.
Education
Complete Broker Course I, Broker Course II and Wyoming Law.
Experience
Actively served as a salesperson or associate broker, or equivalent, for two of the four years immediately preceding application. A degree alone does not replace this statutory requirement.
Expiration
License expired beyond the statutory grace period. Meet all new-applicant requirements, including the appropriate written examination.
Handbook management instruction
The Pearson handbook also states: 3. Responsible Broker candidates must complete an 8-hour Wyoming Real Estate Management course approved by the Wyoming Real Estate Commission within one year immediately preceding the Commission’s receipt of the license application.
Insurance
Provide errors and omissions insurance meeting Wyoming requirements for active licensure.
License history
Provide certified histories from every jurisdiction in which a real estate license is or was held.
Nonresident
Nonresidents must provide service-of-process designation; W.S. 33-28-110 requires a home-state like-license, active practice and certified good standing with no pending complaints for the nonresident like-license route.
Score time
File the complete application within ninety days of the most recent passing score notice; all applicable examination portions must be passed within the six-month period prescribed by Chapter 1, Section 4(h).
Trust account
Provide Wyoming trust account or signed funds holder agreement; provide required company organization documents.
Late renewal and reactivation during the grace period
No examination is required for this applicant pathway.
Education
Complete 53 hours, including 32 required hours (with broker management) and 21 elective hours.
Existing license
Held an active license on December 31 and missed renewal.
Practice
Do not practice while inactive pending reactivation.
Renewal
Submit the complete renewal application, continuing education and fees by March 1, with the additional processing fee.

Official no-examination sources

Effective from 2026-09-22.

Regular inactive license renewal
No examination is required for this applicant pathway.
Education
Required and continuing education are not necessary for inactive renewal.
Existing license
Inactive license.
Practice
May not conduct licensed real estate activity while inactive.
Renewal
Renew on the regular three-year cycle using prescribed forms and fees.

Official no-examination sources

Effective from 2026-09-22.

First renewal of a newly issued active license
No examination is required for this applicant pathway.
Education
Continuing education is not required for this first renewal.
Existing license
Newly issued active license.
Insurance
Maintain required E&O insurance.
Renewal
Renew by December 31 of the issuance year; submit application and required fees.

Official no-examination sources

Effective from 2026-09-22.

Initial licensure by examination based on experience
Age
Must have reached the age of majority.
Applicant status
Applicant does not presently hold an active real estate license in another jurisdiction.
Application
Submit the completed application, required fee, photograph, proof of legal presence and legal name, fingerprints and fingerprint processing payment.
Broker management
Chapter 1, Section 3(c)(iv) requires a Commission-approved broker management course within two years before application.
Character
Provide satisfactory proof of honesty, trustworthiness, integrity and competence; disclose criminal and professional disciplinary history.
Company role
Be an officer, partner, manager or owner of the supervised company. A resident sole proprietor need not acquire an additional company license under W.S. 33-28-109(a).
Course assessment
Pass the approved course assessments. A Commission-approved Broker Course I challenge examination may replace class attendance; course assessments and education certificates are applicant education conditions.
Course time
Complete Commission-approved prelicensing coursework within one year before application.
Education
Complete Broker Course I, Broker Course II and Wyoming Law.
Experience
Actively served as a salesperson or associate broker, or equivalent, for two of the four years immediately preceding application. A degree alone does not replace this statutory requirement.
Handbook management instruction
The Pearson handbook also states: 3. Responsible Broker candidates must complete an 8-hour Wyoming Real Estate Management course approved by the Wyoming Real Estate Commission within one year immediately preceding the Commission’s receipt of the license application.
Insurance
Provide errors and omissions insurance meeting Wyoming requirements for active licensure.
License history
Provide certified histories from every jurisdiction in which a real estate license is or was held.
Nonresident
Nonresidents must provide service-of-process designation; W.S. 33-28-110 requires a home-state like-license, active practice and certified good standing with no pending complaints for the nonresident like-license route.
Score time
File the complete application within ninety days of the most recent passing score notice; all applicable examination portions must be passed within the six-month period prescribed by Chapter 1, Section 4(h).
Trust account
Provide Wyoming trust account or signed funds holder agreement; provide required company organization documents.
First renewal of a newly issued inactive license
No examination is required for this applicant pathway.
Education
No continuing education required.
Existing license
Newly issued inactive license.
Practice
May not conduct licensed real estate activity while inactive.
Renewal
Renew by December 31 of issuance year; fees and forms required.

Official no-examination sources

Effective from 2026-09-22.

Activation after inactivation for missing insurance
No examination is required for this applicant pathway.
Education
Meet the applicable current education requirements for activation.
Existing license
License placed inactive for failure to provide insurance.
Fees
Submit required activation forms and fees.
Insurance
Provide required proof of insurance and obtain Commission activation before practicing.

Official no-examination sources

Effective from 2026-09-22.

Expedited licensure for a military service member or military spouse licensed elsewhere
Wyoming Real Estate Broker Licensing Examination — State Portion
Age
Must have reached the age of majority.
Applicant status
Presently hold an active real estate license in another jurisdiction; certify a valid like-license in good standing and required active practice.
Application
Submit the completed application, required fee, photograph, proof of legal presence and legal name, fingerprints and fingerprint processing payment.
Broker management
Chapter 1, Section 3(c)(iv) requires a Commission-approved broker management course within two years before application.
Character
Provide satisfactory proof of honesty, trustworthiness, integrity and competence; disclose criminal and professional disciplinary history.
Company role
Be an officer, partner, manager or owner of the supervised company. A resident sole proprietor need not acquire an additional company license under W.S. 33-28-109(a).
Course assessment
Pass the approved course assessments. A Commission-approved Broker Course I challenge examination may replace class attendance; course assessments and education certificates are applicant education conditions.
Course time
Complete Commission-approved prelicensing coursework within one year before application.
Education
Complete Wyoming Law and Broker Course II.
Expedited process
W.S. 33-1-117(b) provides issuance within thirty days after a completed application; an applicant licensed in good standing elsewhere for at least five consecutive years may request the expedited license without filing a completed application. Complete required procedures and fees; subsection (k) preserves other applicable licensure requirements.
Experience
Actively served as a salesperson or associate broker, or equivalent, for two of the four years immediately preceding application. A degree alone does not replace this statutory requirement.
Handbook management instruction
The Pearson handbook also states: 3. Responsible Broker candidates must complete an 8-hour Wyoming Real Estate Management course approved by the Wyoming Real Estate Commission within one year immediately preceding the Commission’s receipt of the license application.
Insurance
Provide errors and omissions insurance meeting Wyoming requirements for active licensure.
License history
Provide certified histories from every jurisdiction in which a real estate license is or was held.
Military experience
Relevant military education and training must be considered; relevant spouse work experience, including part-time and volunteer work, may count.
Military status
Qualify as a military service member or military spouse under W.S. 33-1-117(a); provide military status evidence and applicable orders or honorable-release evidence.
Nonresident
Nonresidents must provide service-of-process designation; W.S. 33-28-110 requires a home-state like-license, active practice and certified good standing with no pending complaints for the nonresident like-license route.
Score time
File the complete application within ninety days of the most recent passing score notice; all applicable examination portions must be passed within the six-month period prescribed by Chapter 1, Section 4(h).
Trust account
Provide Wyoming trust account or signed funds holder agreement; provide required company organization documents.
Uniform credit
Chapter 1, Section 4(k) accepts the uniform portion as already passed upon proper like-license certification; the applicant supplies licensing evidence rather than a separately specified currently offered national exam score.
Reactivation of an inactive license
No examination is required for this applicant pathway.
Education
Complete 53 hours, including 32 required hours (with broker management) and 21 elective hours.
Existing license
Hold an inactive license.
Insurance
Provide current required E&O insurance; do not practice until activated.
Reactivation
Submit an application, all required fees and proof of current required/elective education under Chapter 4, Sections 8 and 9.

Official no-examination sources

Effective from 2026-09-22.

Transfer to another real estate company
No examination is required for this applicant pathway.
Documents
Submit the transfer form, fee, E&O proof and nonresident certified license history; obtain the required signatures. Responsible brokers must document company appointment, ownership/management role, trust account or funds holder and office zoning as applicable.
Existing license
Hold the applicable Wyoming broker license.
Practice
Obtain Commission reissuance before practicing through the new affiliation.

Official no-examination sources

Effective from 2026-09-22.

Real Estate National/General Examination for Brokers

Provider
Pearson VUE
Format
National/general portion of state real estate broker licensing examinations, scored separately from the state portion; every item is classified as knowledge, application or analysis; candidates who fail retake only the portion they failed
Exam questions
80 scored items plus 5 unscored pretest items
Examination outline
  • I. REAL PROPERTY CHARACTERISTICS, LEGAL DESCRIPTIONS, AND PROPERTY USE (BROKER 10 of 80 scored items; 2 KNOWLEDGE, 5 APPLICATION, 3 ANALYSIS)
    • A. Real property vs. personal property (3 Items): 1. Fixtures, trade fixtures, emblements; 2. Attachment, severance, and bill of sale
    • B. Characteristics of real property (2 Items): 1. Economic characteristics — a. Scarcity; b. Modification / Improvement; c. Permanence of Investment / Fixity; d. Area Preference / Situs; 2. Physical characteristics — a. Immobility; b. Indestructibility; c. Non-homogeneity / Uniqueness
    • C. Legal descriptions (2 Items): 1. Methods used to describe real property; 2. Survey
    • D. Public and private land use controls – encumbrances (3 Items): 1. Public controls – governmental powers — a. Police power, eminent domain, taxation, escheat; b. Zoning ordinances; 2. Private controls, restrictions, and encroachments — a. Covenants, conditions, and restrictions (CC&Rs), HOAs; b. Easements; c. Licenses and encroachments
  • II. FORMS OF OWNERSHIP, TRANSFER, AND RECORDING OF TITLE (BROKER 8 of 80 scored items; 2 KNOWLEDGE, 3 APPLICATION, 3 ANALYSIS)
    • A. Ownership, estates, rights, and interests (4 Items): 1. Forms of ownership; 2. Freehold estate — a. Fee simple absolute; b. Fee simple defeasible, determinable, and condition subsequent; c. Life estate; d. Bundle of rights; 3. Leasehold estates and types of leases — a. Estate for years and from period to period (periodic estate); b. Estate at will and estate at sufferance; c. Gross, net, percentage leases, and etc.; 4. Liens and lien priority; 5. Air surface and sub-surface rights
    • B. Deed, title, transfer of title, and recording of title (4 Items): 1. Elements of a valid deed; 2. Types of deeds; 3. Title transfer — a. Voluntary alienation; b. Involuntary alienation; 4. Recording the title — a. Constructive and actual notice; b. Title abstract and chain of title; c. Marketable title and cloud on title; d. Attorney title opinion, quiet title lawsuit, and title insurance
  • III. PROPERTY VALUE AND APPRAISAL (BROKER 10 of 80 scored items; 2 KNOWLEDGE, 4 APPLICATION, 4 ANALYSIS)
    • A. Concept of value (3 Items): 1. Market value vs. market price; 2. Characteristics of value; 3. Principles of value
    • B. Appraisal process (3 Items): 1. Purpose and steps to an appraisal; 2. Federal oversight of the appraisal process
    • C. Methods of estimating value and Broker Price Opinions (BPO) (4 Items): 1. Sales comparison approach (market data); 2. Cost approach — a. Improvements and depreciation; b. Physical deterioration, functional, and economic obsolescence; c. Reproduction or replacement costs; 3. Income approach; 4. Gross rent and gross income multipliers; 5. Comparative Market Analysis (CMA); 6. Broker Price Opinion (BPO); 7. Assessed value and tax implications
  • IV. REAL ESTATE CONTRACTS AND AGENCY (BROKER 15 of 80 scored items; 3 KNOWLEDGE, 6 APPLICATION, 6 ANALYSIS)
    • A. Types of contracts (2 Items): 1. Express vs. implied; 2. Unilateral vs. bilateral
    • B. Required elements of a valid contract (3 Items): 1. Voluntary; 2. Agreement / Promise; 3. Legally competent parties; 4. Lawful consideration; 5. Legal act / Purpose
    • C. Contract performance (2 Items): 1. Executed vs. executory; 2. Valid vs. void; 3. Voidable vs. unenforceable; 4. Breach of contract, rescission, and termination; 5. Liquidated, punitive, or compensatory damages; 6. Electronic contracts and digital signatures; 7. Statute of Frauds; 8. Time is of the essence
    • D. Sales contract (2 Items): 1. Offer and counteroffer; 2. Earnest money and liquidated damages; 3. Equitable title; 4. Contingencies; 5. Disputes and breach of contract; 6. Option contract and installment sales contract
    • E. Types of agency and licensee-client relationships (2 Items)
    • F. Creation and termination of agency (2 Items)
    • G. Licensee obligations to parties of a transaction (2 Items)
  • V. REAL ESTATE PRACTICE (BROKER 12 of 80 scored items; 5 KNOWLEDGE, 5 APPLICATION, 2 ANALYSIS)
    • A. Responsibilities of broker (3 Items): 1. Practicing within scope of expertise; 2. Unauthorized practice of law
    • B. Brokerage agreements between the broker and principal (seller, buyer, landlord, or tenant) (3 Items): 1. Seller representation – Types of listing agreements — a. Exclusive right-to-sell and exclusive agency listing; b. Non-exclusive or open listing; c. Net listing (conflict of interest); d. Multiple listing service (MLS); 2. Buyer representation; 3. Property management agreement — a. Accounting for funds; b. Property maintenance; c. Leasing property; d. Collecting rents and security deposits; 4. Termination of agreements; 5. Services, fees, and compensation
    • C. Fair Housing (3 Items): 1. Equal opportunity in housing; 2. Protected classes; 3. Fair housing laws; 4. Illegal practices, enforcement, and penalties; 5. Prohibited advertising; 6. Housing and Urban Development (HUD); 7. Americans with Disabilities Act (ADA)
    • D. Risk management (3 Items): 1. Supervision; 2. Compliance with federal regulations; including Privacy and Do Not Contact; 3. Vicarious liability; 4. Antitrust laws; 5. Fraud and misrepresentation; 6. Types of insurance — a. Errors and Omissions; b. General Liability
  • VI. PROPERTY DISCLOSURES AND ENVIRONMENTAL ISSUES (BROKER 9 of 80 scored items; 4 KNOWLEDGE, 3 APPLICATION, 2 ANALYSIS)
    • A. Property conditions and environmental issues (5 Items): 1. Hazardous substances — a. Lead-based paint; b. Asbestos, radon, and mold; c. Groundwater contamination and underground storage tanks; d. Waste disposal sites and brownfields; e. Flood plains, flood zones, and flood insurance; 2. Clean Air and Water Acts; 3. Environmental Protection Agency (EPA) — a. Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA); b. Superfund Amendment and Reauthorization Act (SARA); c. Environmental site assessments (including Phase I and II studies) and impact statements; d. Wetlands protection
    • B. Environmental and property disclosure obligations and liability (4 Items)
  • VII. FINANCING AND SETTLEMENT (BROKER 8 of 80 scored items; 3 KNOWLEDGE, 3 APPLICATION, 2 ANALYSIS)
    • A. Financing concepts and components (2 Items): 1. Methods of financing — a. Mortgage financing – conventional and non-conventional loans; b. Seller financing – land contract/contract for deed; 2. Lien theory vs. title theory and deed of trust; 3. Sources of financing (primary and secondary mortgage markets, and seller financing); 4. Types of loans and loan programs; 5. Mortgage clauses
    • B. Lender Requirements (2 Items): 1. FHA requirements; 2. VA requirements; 3. USDA loan requirements and rural development financing; 4. Conventional requirements; 5. Buyer qualification and Loan to Value (LTV); 6. Hazard and flood insurance; 7. Private mortgage insurance (PMI) and mortgage insurance premium (MIP)
    • C. Federal Financing Regulations and Regulatory Bodies (2 Items): 1. Truth-in-Lending and Regulation Z; 2. TILA-RESPA Integrated Disclosures (TRID) — a. Consumer Financial Protection Bureau (CFPB); b. Loan Estimate (LE); c. Closing Disclosure (CD); 3. Real Estate Settlement Procedures Act (RESPA) — a. Referrals; b. Rebates; 4. Equal Credit Opportunity Act (ECOA); 5. Mortgage fraud and predatory lending
    • D. Settlement and closing the transaction (2 Items)
  • VIII. REAL ESTATE MATH CALCULATIONS (BROKER 8 of 80 scored items; 3 APPLICATION, 5 ANALYSIS)
    • A. Property area calculations (1 Item): 1. Square footage; 2. Acreage total
    • B. Property valuation (2 Items): 1. Comparative Market Analysis (CMA); 2. Net Operating Income (NOI); 3. Capitalization rate; 4. Gross rent multiplier; 5. Gross income multiplier; 6. Equity in property; 7. Establishing a listing price; 8. Assessed value and property taxes
    • C. Commission/compensation (1 Item)
    • D. Loan financing costs (1 Item): 1. Interest; 2. Loan to Value (LTV); 3. Fees; 4. Amortization, discount points, and prepayment penalties
    • E. Settlement and closing costs (1 item): 1. Purchase price and down payment; 2. Monthly mortgage calculations- principal, interest, taxes, and insurance (PITI); 3. Net to the seller; 4. Cost to the buyer; 5. Prorated items; 6. Debits and credits; 7. Transfer tax and recording fee
    • F. Investment (1 Item): 1. Return on investment; 2. Appreciation; 3. Depreciation; 4. Tax implications on investment
    • G. Property management calculations (1 Item): 1. Property management and budget calculations; 2. Tenancy and rental calculations
Examination sources

Wyoming Real Estate Broker Licensing Examination — State Portion

Provider
Pearson VUE
Format
Computer-delivered written examination
Exam questions
50 scored items plus 5–10 unscored pretest items
Time limit
1.5 hours
Passing score
75 scaled score
Examination outline
  • I. The Real Estate Licensing Agency’s Powers (Broker 2–5 items)
    • A. Investigations, Hearings and Appeals
    • B. Sanctions — 1. Disciplinary Actions — Revocation, Suspension, etc.
    • B. Sanctions — 2. Penalties
    • C. Examination of Records
  • II. Licensing (Broker 4–6 items)
    • A. Requirements for Licensure
    • B. Activities Requiring a License
    • C. License Renewal
    • D. Continuing Education
    • E. Change in License — 1. Change in Information
    • E. Change in License — 2. Change in Status — a. Inactive vs Active
    • E. Change in License — 2. Change in Status — b. Cancellation
  • III. Requirements Governing the Activities of Licensees (Broker 14–16 items)
    • A. Advertising
    • B. Broker/Salesperson Relationship — 1. Changes in Broker Affiliation — a. Transfers
    • B. Broker/Salesperson Relationship — 1. Changes in Broker Affiliation — b. Terminations
    • B. Broker/Salesperson Relationship — 2. Designated licensees
    • C. Compensation
    • D. Disclosure — 1. Conflict of Interest
    • D. Disclosure — 2. Property Disclosure
    • D. Disclosure — 3. Agency Disclosure
    • E. Duties Owed by a Licensee — 1. Agent
    • E. Duties Owed by a Licensee — 2. Intermediary
    • E. Duties Owed by a Licensee — 3. Customer
    • F. Handling of Documents
    • G. Handling of Monies
    • H. Listings
    • I. Errors and Omission Insurance
    • J. Grounds for Disciplinary Action
  • IV. Additional Topics (Broker 11–13 items)
    • A. Real Estate Recovery and Education Fund
    • B. Land Description
    • C. Landlord/Tenant Relationship
    • D. Foreclosure and Redemption
    • E. Statute of Frauds
    • F. Broker’s Price Opinion (BPOs)
  • V. Broker Responsibility and Office Management (Broker Only, 14–16 items)
    • A. Real Estate Company Management
    • B. Trust Accounts
    • C. Funds Holder Agreements
    • D. Place of Business
    • E. Recordkeeping
    • F. Supervision — 1. Branch Offices
    • F. Supervision — 2. Multiple Companies
Examination sources