WRES Wyoming Real Estate Salesperson - Set 4 - Part 3
Test your knowledge of technical writing concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.
Question 41: Under the rules of most multiple listing services, when a participating broker places a listing in the service, that broker automatically extends to the other members an offer of cooperation and a share of the commission. How is this offer best described?
Question 42: Member brokers in a region pool their exclusive listings into a shared database so each can market the others' properties and cooperate on sales, giving sellers broader exposure and buyers a wider selection. This cooperative marketing organization is known as which of the following?
Question 43: An instructor reviews the federal protected classes under the Fair Housing Act and asks students to identify a characteristic that federal law does not list among them, even though some state and local laws add it. Which of the following is not a federal protected class?
Question 44: A seller in Rock Springs signs a listing under which she must pay the listed broker a commission if the property sells during the term, even if she personally finds the buyer without any help. Which listing type creates this obligation?
Question 45: A student learns that the primary federal statute banning discrimination based on color, religion, and national origin in most residential transactions is actually one part of a broader civil rights law enacted the same year. This statute is commonly known by which name?
Question 46: A buyer in Gillette asks his salesperson to interpret an unusual clause in the sales contract and explain its legal effect on his rights. Because the salesperson is not an attorney, which response best complies with the rule against unauthorized practice?
Question 47: The earliest federal housing law prohibits all racial discrimination in the sale or rental of any property, whether public or private, and allows absolutely no exemptions because its authority rests on the Thirteenth Amendment. Which of the following statutes establishes this unqualified ban?
Question 48: A residential salesperson in Laramie is asked by a client to advise on a complex commercial industrial lease involving zoning matters far outside her training and experience. To practice responsibly within her competence, what is her best course of action?
Question 49: A listed house near Laramie is destroyed by fire before any buyer is found, and the parties dispute whether the listing survives. Aside from expiration or mutual cancellation, which event also automatically terminates a broker's agreement to represent the seller?
Question 50: State law and risk-management principles require a designated broker to actively oversee the transactions, trust accounts, and advertising of the salespeople licensed under the brokerage. This ongoing duty to monitor and manage affiliated licensees is generally referred to as which responsibility?
Struggling With Exams?
Less Time Studying, More Time Living – Finish Your Degree Faster! Pay-After-you-Pass!
Get Exam Support