WRES - Wyoming Real Estate Salesperson

Question 21: A broker markets a rural parcel near Lander and must decide whether the statutory vacant-land property disclosure applies. Wyoming defines vacant land by three conditions that must all be met together. Which combination correctly states the statutory definition of vacant land in Wyoming?

Any parcel over 140 acres

No dwelling or under 80 acres

No dwelling, unplatted, under 140 acres

Any land outside city limits

Question 22: A licensee in Rawlins quietly represents a buyer while also holding a hidden ownership stake in the entity purchasing the property, saying nothing to the parties. This conduct implicates a core conflict-of-interest duty. Failing to disclose such an interest in the transaction is what?

A ground for discipline

Permitted if truly unintentional

A criminal felony automatically

Allowed for buyer's agents

Question 23: A seller's agent wants cooperating brokers from other firms to work as subagents on the seller's behalf when selling a listed property. Before any subagency relationship can arise from that cooperation, what does Wyoming law require the seller to have provided?

Verbal permission at listing

Written authorization to offer subagency

Automatic consent through cooperation

Approval from the cooperating broker

Question 24: A responsible broker who first agreed in writing to act as an agent later converts to acting as an intermediary for that same party. A contract clause purports to raise the party's compensation liability because of the switch. Under Wyoming law, what happens to that clause?

It is void and unenforceable

It is valid if disclosed

It is valid with written consent

It is valid up to double

Question 25: A Wyoming responsible broker wants to pay a referral fee to a broker licensed only in Colorado who sent a client across state lines. Under Wyoming law, paying that nonresident broker is lawful only if the out-of-state broker did what regarding real estate activity in Wyoming?

Obtained a temporary Wyoming permit

Split the fee with a resident

Conducted no real estate activity here

Registered the referral with the Commission

Question 26: A candidate preparing for the Wyoming licensing exam reviews several claims about listing agreements in the state. She must identify the one statement that Wyoming law actually supports. Which of the following statements about Wyoming listing agreements is correct?

They expire automatically after ninety days

They may be oral if witnessed

They transfer to the departing salesperson

They must be in writing

Question 27: A buyer's agent in Evanston wants to arrange to be paid by sharing the compensation the seller offers, rather than billing his own buyer. Before he may even propose that arrangement to the seller's agent, what must the buyer's agent first obtain from the buyer?

The buyer's written approval

The buyer's oral agreement

The seller's written consent

The Commission's prior authorization

Question 28: A newly licensed salesperson collects an advance listing fee and a down payment from clients and assumes she may keep them in her own account until closing. Her broker corrects her about where such funds belong. Under Wyoming law, how must these funds be handled?

Held in the salesperson's account

Deposited to the broker's trust account

Split between salesperson and broker

Kept as cash until closing

Question 29: In a Natrona County transaction the seller pays the entire commission, and the buyer assumes that means both cooperating licensees actually represent the seller. Under Wyoming law, what does the payment of compensation establish about who is represented in the deal?

That the payer is the client

That an intermediary relationship forms

Nothing about the agency relationship

That subagency is automatically created

Question 30: A salesperson accepts an earnest money check from a buyer on a Tuesday afternoon and hands it to the responsible broker. The broker asks by when the funds must reach the trust account. Under the Commission rule, what is the deadline for depositing trust funds after receipt?

Within three banking days

Within five calendar days

By the end of the month

The first banking day after receipt

Question 31: Preparing the written relationship disclosure required in Wyoming transactions, a broker in Torrington must format the document so it satisfies a specific statutory readability requirement. Any disclosure made under the relationship-disclosure statute must appear in a font of at least what size?

Ten point or greater

Eight point or greater

Twelve point or greater

Fourteen point or greater

Question 32: The Wyoming Real Estate Commission finds a licensee committed several distinct violations and intends to impose administrative fines. A colleague asks what the maximum administrative fine is for each separate offense under the disciplinary statute. What ceiling does the statute place on that fine?

Two thousand five hundred dollars

Five thousand dollars

One thousand dollars

Ten thousand dollars

Question 33: An applicant for a Wyoming salesperson license learns she must carry errors and omissions coverage as a condition of licensure. She asks about the minimum single-limit liability the coverage must provide for each licensee per occurrence or claim. What is that minimum figure?

Fifty thousand dollars

Three hundred thousand dollars

Five hundred thousand dollars

One hundred thousand dollars

Question 34: A salesperson who personally secured several listings decides to leave her current brokerage for a competitor and expects to take those listings with her. Her responsible broker disagrees. Under Wyoming law, where does the proprietary ownership interest in written listing agreements reside?

With the departing salesperson

With the responsible broker

With the property seller

Shared by broker and salesperson

Question 35: Two Wyoming licensees fall into a bitter dispute over how a commission should be split, and one threatens to bring the disagreement to the Real Estate Commission for resolution. How does the Commission treat complaints between licensees about the earning, splitting, or non-payment of compensation?

It will not entertain them

It arbitrates them on request

It refers them to the broker

It fines the non-paying licensee

Question 36: Wyoming's statute of frauds states the precise consequence when a covered agreement is not put in writing and signed by the person sought to be held to it. It uses one specific word for that result. Which word does the statute use?

Voidable

Unenforceable

Rescinded

Void

Question 37: A landlord in Casper signs an oral lease with a tenant for a term of exactly one year, and the tenant later argues the arrangement is unenforceable because nothing was written. Under Wyoming's statute of frauds, how should this oral one-year lease be treated?

Void because it is oral

Enforceable despite being oral

Void unless notarized

Enforceable only for six months

Question 38: A large ranch outside Riverton that qualifies as agricultural real estate is sold at foreclosure. Wyoming gives agricultural property a longer redemption period than ordinary property, again running from the date of sale. How long is the redemption period for agricultural real estate?

Three months from the sale

Six months from the sale

Twelve months from the sale

Twenty-four months from the sale

Question 39: After a non-agricultural home in Casper is sold at a foreclosure by advertisement and sale, Wyoming grants the former owner a statutory period to redeem the property by paying the required amount. How long is the redemption period for ordinary property?

Twelve months from the sale

Three months from the sale

Six months from the sale

One month from the sale

Question 40: A Cheyenne owner is ready to file a forcible entry and detainer case to remove a renter who will not leave. Wyoming assigns original jurisdiction over these eviction actions to a particular level of trial court. In which court is the action properly filed?

Circuit court

District court

Chancery court

Justice of the peace court

WRES Wyoming Real Estate Salesperson - Set 1 - Part 2