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Quiz – WI Session 2

Quiz – WI Session 2

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Hour 4: Department of Safety and Professional Services Discipline Roundup* (include REALTOR® Preamble and Professional Standards) 0%
Hour 5. Wisconsin Legislative Updates 0%
Hour 6 Wisconsin Case Law Related to Real Estate 0%

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Question 1 of 15

1. Question

An agent reported a conviction of driving while intoxicated. As a result of this offense, one of the following happened:

The agent could not drive buyers/sellers due to a suspended license
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A fine was charged
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A letter of reprimand was issued and on display at DSPS’s website
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All the above
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Question 2 of 15

2. Question

The commonly cited violation allegation is which Article in the Code?

Article 1
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Article 10
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Article 16
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Article 18
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Question 3 of 15

3. Question

An agent has been notified they are a respondent in a hearing for potentially violating the Code of Ethics. What should a REALTOR® NOT do?

Involve their broker
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Attend the hearing
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Ignore the letter
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Prepare your statement
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Question 4 of 15

4. Question

According to the Preamble of the Code, what should a REALTOR® member do:

Urge exclusive representation of clients
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Do not attempt to gain any unfair advantage over their competitors
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Refrain from making unsolicited comments about other practitioners.
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All the above
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Question 5 of 15

5. Question

Ethics hearings at the Professional Standards hearing:

Are no cost
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Are confidential
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You can have your license suspended
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A and B but not C
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Question 6 of 15

6. Question

When a wholesaler is purchasing a property, they must inform the seller of the market value of the property and of their intention to sell to another party.

True
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False
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Question 7 of 15

7. Question

The amount of forfeited money if a transgression is found to have been made in Section 452 of Wisconsin law was increased to:

$500
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$1,000
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$5,000
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$10,000
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Question 8 of 15

8. Question

Before doing a private showing at a listing, the agent must

Get a pre-approval letter from their lender
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Do a background check on the potential buyer
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Disclose Agency options with the party
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Require an ID be presented
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Question 9 of 15

9. Question

Offers of compensation are still listed on MLS platforms.

True
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False
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Question 10 of 15

10. Question

Since 2024, personal property in the sale/purchase of a listing:

Whatever personal property in the MLS is automatically included.
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Should be specifically identified
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Is not subject to tax
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Not A, but B and C
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Question 11 of 15

11. Question

Wisconsin courts have established that licensees have a property interest in their licenses, requiring fair hearings before revocation.

True
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False
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Question 12 of 15

12. Question

Under Licensing Reforms, boards can deny a real estate license for:

Driving while impaired
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Financial fraud
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Domestic Abuse
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All the above
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Question 13 of 15

13. Question

If your buyer wishes to buy a property and make it a day care center, what statement is true about the Daycare Center?

License is mandatory for care of 4 or more children under 7 years of age
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The Daycare Center must rinse toys every 4 hours in a disinfectant solution.
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The caregiver must be certified in CPR
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All the above.
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Question 14 of 15

14. Question

A felony conviction in the previous 3 years could be a cause of license being denied or not renewed.

True
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False
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Question 15 of 15

15. Question

Revocation of license requires:

A violation of law that is substantially related to real estate
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Due Process
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Cannot be blanketly denied
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All the above
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