US Real Estate Wyoming Advanced Test 3

Real Estate » Category

Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

Prepared with up-to-date content

Real Estate — Wyoming Professional (Real Estate, USA) USA — Wyoming State Real Estate License — USA

What is this test? for Real Estate Salesperson/Broker prep, USA (national + state law) — Professional (Real Estate, USA) level, USA — Wyoming.
For adults preparing for Real Estate license in the USA
Section: Real Estate — Wyoming · Education: Professional (Adult) · Part: Real Estate — Wyoming · Country: USA · Region: USA — Wyoming

Finance and real estate acumen covers markets, valuation, contracts, and budget management.

This test is designed to reinforce core concepts and help you succeed on your exams.

By solving this test of 20 questions, you can both test your knowledge and identify the topics you need to improve.

Question 1

What is the Fair Housing Act?

A) zoning code

B) bans housing discrimination

C) tax law

D) building code

Question 2

What is agency in real estate?

A) ownership

B) tenancy

C) broker acting for a client

D) zoning

Question 3

What classes are protected in housing?

A) income

B) race, color, religion, sex, handicap, family, national origin

C) politics

D) age only

Question 4

What is a listing agreement?

A) deed

B) lease

C) purchase offer

D) contract to sell a property

Question 5

What is earnest money?

A) buyer good-faith deposit

B) fee

C) commission

D) tax

Question 6

What is a fiduciary duty?

A) loyalty, obedience, care to client

B) profit first

C) dual profit

D) secrecy from client

Question 7

What is dual agency?

A) no representation

B) buyer only

C) one broker representing both sides

D) two brokers

Question 8

What is redlining?

A) appraising

B) illegal denial by neighborhood

C) surveying

D) mapping

Question 9

What is steering?

A) guiding buyers by race (illegal)

B) negotiating

C) showing homes

D) advertising

Question 10

What is a CMA?

A) appraisal

B) comparative market analysis

C) survey

D) inspection

Question 11

What is an appraisal?

A) listing

B) offer

C) inspection

D) professional value opinion

Question 12

What are the three appraisal approaches?

A) show, stage, sell

B) offer, accept, record

C) list, sell, close

D) sales comparison, cost, income

Question 13

What is PITI?

A) a loan type

B) a tax

C) a deed

D) principal, interest, taxes, insurance

Question 14

What is LTV?

A) land title verification

B) listing traffic volume

C) lease term value

D) loan-to-value ratio

Question 15

What is PMI?

A) flood insurance

B) title insurance

C) insurance for low down payments

D) property tax

Question 16

What is escrow?

A) commission

B) down payment

C) neutral third-party holding

D) tax

Question 17

What is a deed?

A) lease

B) ownership transfer document

C) loan paper

D) offer

Question 18

What is a warranty deed?

A) quitclaim

B) lease

C) guarantees clear title

D) option

Question 19

What is a quitclaim deed?

A) lease

B) full warranty

C) transfers whatever interest exists

D) loan

Question 20

What is title insurance?

A) protects against title defects

B) home warranty

C) flood policy

D) life insurance

US Real Estate Wyoming Advanced Test 3

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