Wisconsin Real Estate License Law - Section 25 Study Materials

Wisconsin Real Estate License Law - Section 25 Study Materials Flashcards For which of these disciplinary actions can a licensee request that the circuit court review the board's findings?Any disciplinary actionOnly a license revocationOnly a license suspensionOnly a reprimand Any disciplinary action Which one of these individuals needs a real estate license?An appraiser who is appraising real estateAn attorney who is assisting a client in understanding a sales contractAn individual selling his own homeSomeone performing real estate services for others for a fee Someone performing real estate services for others for a fee Which of these individuals is using the correct process to obtain a Wisconsin real estate license?Carol's license expired three years ago. She had a disciplinary action against her license, but she met all the requirements that REEB had set. She's using the reinstatement process to get her license back.REEB revoked Juanita's license last year. She's completed the terms of her agreement with REEB. Her original renewal date is next month, and she's begun the renewal process to get her license back.REEB revoked William's license more than five years ago. He's cleaned up his act, and since it's been more than five years, he's using the new license application process to obtain a real estate license.While Roberto was actively deployed in the U.S. military, his license expired three months before he retired. He's planning to use the license renewal process to get his real estate license.While Roberto was actively deployed in the U.S. military, his license expired three months before he retired. He's planning to use the license renewal process to get his real estate license.Jimbo doesn't yet have a real estate license. Which activity is he legally allowed to perform without one?Give advice to a friend who is negotiating the purchase of a house.List a friend or family member's home for sale for a fee.Negotiate the sale of a house for two friends and receive a tip as thanks.Receive payment for managing real estate.Give advice to a friend who is negotiating the purchase of a house.Kristina is a member of Wisconsin's Real Estate Contractual Forms Advisory Council. Which of these might be true?Kristina and her council colleagues approve forms that REEB creates.Kristina might also be a REEB member.Kristina's council term is limited to two years.Kristina was appointed to the council by the governor.Kristina might also be a REEB member.Are Wisconsin brokers permitted to associate with more than one brokerage firm at a time?Not under any

circumstances.No, unless the firms are in different cities.Yes, as long as the managing brokers of both firms approve.Yes, if one of the associations is with the broker's own independent firm.Yes, if one of the associations is with the broker's own independent firm.

Carson is serving a term on Wisconsin's Council on Real Estate Curriculum and Examinations with five real estate licensees. Which of these MUST be true?Carson also serves on the Real Estate Examining Board.Carson could be an unlicensed member of the public.Carson holds a broker's license.Carson holds a salesperson's license.Carson could be an unlicensed member of the public.Which of these statements related to qualification for a Wisconsin real estate license is TRUE?Applicants must be U.S. citizens or otherwise legally reside in the U.S.Applicants must receive a broker's recommendation before beginning pre-licensure coursework.Individuals who live in a country that has a reciprocity agreement with Wisconsin are eligible for licensing.Salesperson applicants must have two years of real estate-related experience before applying for licensure.Applicants must be U.S. citizens or otherwise legally reside in the U.S.REEB notified Wisconsin licensee Aria that a former client filed a complaint against her, and an investigation was underway. Although what she did was an accident, Aria knows she's guilty. She decides to surrender her license, hoping that the commission will go easy on her. Can Aria surrender her license to avoid being disciplined?Maybe.The board or the department may refuse to accept the surrendered license.No. Wisconsin licensees aren't permitted to surrender their licenses.Yes. Aria can surrender her license to avoid being disciplined.Yes, but if Aria surrenders her license to avoid being disciplined, she will never be able to obtain a Wisconsin license again.Maybe. The board or the department may refuse to accept the surrendered license.Compare the license renewal process for all individual applicants. Which of these requirements must all applicants with an expired Wisconsin real estate license complete before they can renew the license?Demonstrate practical experience worth at least 20 experience points.Pass the appropriate licensing exam.Provide proof of completing all required education.Submit a broker's affidavit affirming eligibility to renew the license.Provide proof of completing all required education.What's the chief function of licensing laws?Create career paths for real estate professionalsEnsure that consumers are protectedGenerate funding for professional education and researchGrow the economy through a pipeline of professionals Ensure that consumers are protected Which of these statements about Wisconsin licensee continuing education is true?All licensees complete 18 hours of CE in the three-year licensing period.Both broker and salesperson licensees complete 18 CE hours in the licensing biennium.Broker licensees complete 18 hours of

CE in their three-year licensing period; salespersons complete 18 hours in their two-year licensing period.Broker licensees complete 21 hours of CE, and salespersons complete 18 hours in the licensing biennium.Question 5 Both broker and salesperson licensees complete 18 CE hours in the licensing biennium.Felicity's brokerage firm is registered as a partnership with the department. The partners have decided to incorporate.They send the proper application materials to the