Free Wisconsin Real Estate Salesperson Examination Practice Questions
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Sample Practice Questions
Try these 10 sample questions from the Wisconsin Real Estate Salesperson Examination practice bank. Each includes the answer and explanation. Continue with the interactive practice above to review the full question set.
1A recorded utility easement crosses a parcel that is being sold. What is the easement's principal effect on the owner's title?
- A. It automatically transfers title to the utility
- B. It burdens the parcel while leaving ownership with the owner
- C. It converts the parcel into personal property
- D. It prevents every future conveyance
Answer: B
Explanation: An easement is an encumbrance: it limits use or benefits another party without itself transferring fee title. The official WB-11 treats “recorded easements” as title encumbrances that may remain as permitted exceptions.
Reference: WB-11_Fnal 2024 no highlight — lines 382-391, Conveyance of Title
2Which item is a private rather than governmental land-use control?
- A. A recorded subdivision covenant
- B. A zoning ordinance
- C. A building code
- D. A condemnation order
Answer: A
Explanation: Recorded covenants are created by private owners or developers, while zoning, codes, and condemnation arise from governmental authority. WB-11 lists “restrictions and covenants” as title exceptions.
Reference: WB-11_Fnal 2024 no highlight — lines 382-391, recorded building and use restrictions and covenants
3In a sales-comparison analysis, a comparable lacks a garage that the subject has. To estimate the subject's value, what should the analyst do to the comparable sale price?
- A. Adjust it upward for the comparable's inferior feature
- B. Adjust it downward because the subject is superior
- C. Ignore the difference automatically
- D. Add the subject's entire construction cost
Answer: A
Explanation: The Wisconsin Property Assessment Manual directs: “if the sale property is inferior to the subject, a positive adjustment is made.” Because the comparable lacks the subject’s garage, its sale price is adjusted upward.
Reference: Wisconsin Property Assessment Manual — Sales Comparison Approach; adjustment of comparable sales
4A Wisconsin seller signs an agency agreement with a brokerage firm. What is the seller's relationship to that firm?
- A. Customer only
- B. Client
- C. Subagent
- D. Unrepresented party
5A Wisconsin licensee knows a material adverse fact that a buyer cannot discover through reasonably vigilant observation. Unless disclosure is prohibited by law, what must the licensee do?
- A. Disclose it to the parties in writing
- B. Wait until after closing
- C. Tell only the firm's client orally
- D. Remain silent unless the seller authorizes disclosure
6Which alteration may a Wisconsin licensee make to an approved buyer agency agreement?
- A. Create an authorized exclusive-right-to-negotiate form
- B. Delete the Board's approval statement
- C. Replace it with an unapproved deed
- D. Use an obsolete version of the form
7While seeking a Wisconsin buyer agency agreement, what representation is a licensee prohibited from making?
- A. A misleading claim about benefits from using the licensee's services
- B. An accurate description of the agreement term
- C. A truthful disclosure of the firm's duties
- D. An objective explanation of the approved form
8Which class is protected by Wisconsin fair housing law in addition to the core federal list?
- A. Marital status
- B. Preferred architectural style
- C. Occupation in every circumstance
- D. Credit score
9Competing brokerage firms agree that none will charge less than a six-percent commission. What antitrust concern is most direct?
- A. Horizontal price fixing
- B. A lawful unilateral price decision
- C. A title defect
- D. A zoning restriction
Answer: A
Explanation: An agreement among competing brokers to set commission rates suppresses price competition and is “Price Fixing - Horizontal”, unlike each firm's independent pricing decision.
Reference: Antitrust Division | U.S. v. Kentucky Real Estate Commission | United States Department of Justice — Case Violation: Price Fixing - Horizontal
10A Wisconsin salesperson associated with a firm earns a commission in a transaction. To whom must that compensation be paid?
- A. Directly to the salesperson
- B. To the salesperson's firm
- C. To the register of deeds
- D. To the Real Estate Examining Board
Topics in this practice bank
These topics describe the available practice for Wisconsin Real Estate Salesperson Examination. Review the examination outline and its sources for scope and allocation details.
I. OWNERSHIP AND TRANSFER OF PROPERTY (14 ITEMS)
- A. Property Ownership (6 Questions)
- A.1. Definition of an encumbrance (easements, liens, encroachments, property taxes, special assessments)
- A.2. Differences between real and personal property
- A.3. Types of ownership under Wisconsin law (e.g., joint tenancy, tenancy in common, marital property)
- B. Transfer of Property (8 Questions)
- B.1. Title insurance (preliminary report, gap insurance)
- B.2. Difference between warranty, quit claim, personal reps deed
- B.3. Definition of a deed
- B.4. Deeds, warranties, and defects in title
- B.5. Definition of security interest and bills of sale
- B.6. Conveyances of real estate property, recording titles
II. LAND USE CONTROLS AND REGULATIONS (5 ITEMS)
- A. Private controls (e.g. restrictions, deed conditions, covenants)
- B. Public controls of permitted use, conditional use, non-conforming use, variance, setbacks
- C. PUDS
III. VALUING AND FINANCING PROPERTY; CALCULATIONS (20 ITEMS)
- A. Valuation and market analysis (3 Questions)
- A.1. Comparative market analysis
- A.2. Definition of market value/assessed value/appraised value
- A.3. Principles of value
- B. Financing (8 Questions)
- B.1. Types of loans (fixed, adjustable rate mortgage, balloon mortgages)
- B.2. Definitions (loan-to-value ratio (LTV), points, loan origination fees, private mortgage insurance (PMI))
- B.3. RESPA (Illegal kickbacks)
- B.4. Government programs (e.g. FHA, VA)
- B.5. Lending requirements
- B.6. Sources (seller/owner, land/installment contracts, primary market)
- B.7. Regulation Z
- B.8. TRID
- B.9. Mortgage fraud and secondary market fraud
- C. Mathematics (9 Questions)
- C.1. Basic mathematical skills involved in real estate calculations
- C.2. Prorations
- C.3. Calculation property tax payment - mill rate times assessed value
- C.4. Loan-to-value (LTV) ratios
- C.5. Calculation of transfer fee
IV. AGENCY (32 ITEMS)
- A. Laws of agency (17 Questions)
- A.1. Types of agencies and agents
- A.2. Duties to customers and clients
- A.3. Termination of agency
- A.4. Creation of agency
- B. Agency contracts (15 Questions)
- B.1. WB-1 - Residential Listing Contract
- B.2. WB-4 - Residential Condominium Listing Contract
- B.3. WB-36 - Buyer Agency/Tenant Representation agreement
- B.4. Real estate agency contracts
V. DISCLOSURES (13 ITEMS)
- A. Environmental disclosures (e.g., asbestos, Underground Storage Tanks)
- B. Disclosure by owners of residential real estate and vacant land
- C. Condominium disclosure requirements
- D. Federal lead-based paint disclosure law
- E. Other disclosure obligations
VI. CONTRACT LAW AND APPROVED FORMS (22 ITEMS)
- A. Contracts (6 Questions)
- A.1. Approved forms and legal advice
- A.2. Obligation to furnish copies and maintain records
- B. Offers to Purchase (16 Questions)
- B.1. WB-11 – Residential Offer to Purchase
- B.2. WB-13 – Vacant Land Offer to Purchase
- B.3. WB-14 – Residential Condominium Offer to Purchase
- B.4. WB-40 – Amendment to Offer to Purchase
- B.5. WB-41 – Notice Relating to Offer to Purchase
- B.6. WB-44 – Counter-Offer
- B.7. WB-46 – Multiple Counter Proposal
VII. BUSINESS ETHICS (14 ITEMS)
- A. Conduct and ethical practice for real estate licensees
- B. Real estate practice
VIII. FAIR HOUSING (6 ITEMS)
- A. Fair Housing Law
- B. Local equal opportunities
- C. Providing auxiliary services for the disabled (Americans with Disabilities Act)
IX. FEDERAL ANTI-TRUST LAW (2 ITEMS)
- A. Price fixing
- B. Group boycotts
X. MISCELLANEOUS (12 ITEMS)
- A. Trust accounts
- B. Fee splitting
- C. Responsibilities of firms and licensees
- D. Legal effects of leases as they pertain to approved forms
- E. Rental residential practices
How to use these free practice questions
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These are independent study questions, not actual examination items. For examination requirements and official information, view Wisconsin Real Estate Salesperson Examination details.