A title commitment for a ranchette near Buffalo, Wyoming describes the parcel by 'commencing at the iron pin at the northeast corner, thence south 40 degrees west 220 feet...' What type of legal description is this?

Government survey (rectangular survey) description

"You'll have my complete loyalty as your listing agent — a different agent at our firm will exclusively represent the buyer," a broker in Jackson explains to a seller after one of the firm's own buyer clients shows interest in the seller's home. What kind of arrangement is being described?

Transaction brokerage with no representation

A listing agreement in Torrington ends the moment the sale closes and title transfers. Which method of agency termination does this represent?

Termination by completion of purpose

Termination by mutual agreement

Termination by expiration of term

Termination by operation of law

A buyer tours a home in Riverton with Agent A, who provides a written comparative market analysis, but the buyer later writes an offer through Agent B after Agent A stops responding to calls. If a commission dispute arises, what factor is typically most central to determining procuring cause?

Which agent's efforts were the uninterrupted, direct cause that led to the completed sale

Which agent's name appears first on the original showing schedule

Which agent has been licensed longer

Which agent's brokerage has the larger local market share

When should a real estate salesperson generally provide a disclosure explaining which party they represent in a transaction?

Early in the relationship, before the consumer relies on the licensee's guidance or shares confidential negotiating information

Only after a purchase contract has been fully executed

Only if the consumer specifically requests it in writing

At the closing table, immediately before signing

"Deal, she's yours at that price," a rancher near Big Piney says after shaking hands with a buyer over a verbal home-sale price, intending to sign paperwork the following week. Before any writing is signed, the rancher changes her mind and backs out. Can the buyer generally enforce the verbal agreement in court?

No, because the statute of frauds generally requires real estate contracts to be in writing to be enforceable

Yes, verbal agreements for real estate are always enforceable if a witness confirms them

Yes, but only if the buyer already paid earnest money in cash

No, because real estate contracts are void unless notarized at signing

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PRACTICE ENGINE · WYOMING REAL ESTATE

Wyoming Real Estate Practice Exam.
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QUESTION 1 / 61Property Ownership, Land Use & InterestsMedium0/0

A wind-energy company holds a recorded easement across a ranchette outside Douglas, Wyoming solely to run transmission lines to a substation, with no connection to any neighboring parcel the company owns. What type of easement is this?

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1. A wind-energy company holds a recorded easement across a ranchette outside Douglas, Wyoming solely to run transmission lines to a substation, with no connection to any neighboring parcel the company owns. What type of easement is this?
- A. Easement appurtenant
- B. Easement by prescription
- C. Easement in gross
- D. Easement by necessity
Show answer & explanation
Answer: C
An easement in gross benefits a person or company rather than an adjoining parcel of land, which fits a utility or energy company's right to cross property for transmission lines. An easement appurtenant instead requires two parcels, a dominant estate that benefits and a servient estate that is burdened, which does not apply when the holder owns no benefiting parcel nearby.
2. "I want my ranch house to go to my brother for his life, then to my niece," a rancher near Chugwater tells her attorney while drafting her will. What interest will the brother hold during his lifetime?
- A. A remainder interest
- B. A fee simple determinable
- C. A life estate
- D. A leasehold estate
Show answer & explanation
Answer: C
A life estate grants possession and use of the property only for the duration of the holder's life, after which it passes to whoever holds the remainder interest, here the niece. The brother does not hold a remainder himself since he would be the life tenant, and a leasehold would require a landlord-tenant rental relationship that does not exist under this will.
3. A storefront in downtown Rawlins operated as an auto repair shop for decades before the county rezoned the block for residential use only. The shop owner wants to keep operating. What legal doctrine most likely allows this?
- A. Variance
- B. Legal nonconforming use
- C. Conditional use permit
- D. Spot zoning
Show answer & explanation
Answer: B
A legal nonconforming use protects a property use that lawfully existed before a zoning change made it inconsistent with the new classification, allowing the owner to continue that specific use. A variance is instead a case-by-case exception granted for hardship on a property that never had the prior use, so it does not fit a use that already existed before rezoning.
4. A title commitment for a ranchette near Buffalo, Wyoming describes the parcel by 'commencing at the iron pin at the northeast corner, thence south 40 degrees west 220 feet...' What type of legal description is this?
- A. Government survey (rectangular survey) description
- B. Lot-and-block description
- C. Assessor's parcel description
- D. Metes and bounds description
Show answer & explanation
Answer: D
A metes and bounds description defines a parcel's boundaries using compass directions and measured distances from a fixed point of beginning, which matches the directional bearings and footage in this description. A lot-and-block description instead references a recorded subdivision plat number, and a government survey description uses township, range, and section references rather than bearings and distances.
5. "You'll have my complete loyalty as your listing agent — a different agent at our firm will exclusively represent the buyer," a broker in Jackson explains to a seller after one of the firm's own buyer clients shows interest in the seller's home. What kind of arrangement is being described?
- A. Transaction brokerage with no representation
- B. Designated agency
- C. Undisclosed dual agency
- D. Subagency
Show answer & explanation
Answer: B
Designated agency assigns one licensee within a brokerage to exclusively represent the seller while a different licensee from the same firm exclusively represents the buyer, so each client still receives individual advocacy despite the shared brokerage. This differs from dual agency, where a single licensee would attempt to represent both sides at once, which is not what happens when two separate agents each advocate for only one party.
6. A listing agreement in Torrington ends the moment the sale closes and title transfers. Which method of agency termination does this represent?
- A. Termination by mutual agreement
- B. Termination by expiration of term
- C. Termination by operation of law
- D. Termination by completion of purpose
Show answer & explanation
Answer: D
An agency relationship created to accomplish a specific task, such as selling a property, terminates naturally once that purpose is fulfilled at closing. Termination by expiration instead depends on a stated end date passing regardless of whether the sale happened, which is a distinct way an agency can end.
7. A buyer tours a home in Riverton with Agent A, who provides a written comparative market analysis, but the buyer later writes an offer through Agent B after Agent A stops responding to calls. If a commission dispute arises, what factor is typically most central to determining procuring cause?
- A. Which agent's name appears first on the original showing schedule
- B. Which agent has been licensed longer
- C. Which agent's brokerage has the larger local market share
- D. Which agent's efforts were the uninterrupted, direct cause that led to the completed sale
Show answer & explanation
Answer: D
Procuring cause disputes turn on which agent's efforts formed an unbroken chain that directly resulted in the sale, not on seniority, market share, or who scheduled an early showing. Because Agent A stopped responding and the buyer ultimately transacted through Agent B's continued efforts, the analysis focuses on whose actions actually completed the transaction.
8. When should a real estate salesperson generally provide a disclosure explaining which party they represent in a transaction?
- A. Only if the consumer specifically requests it in writing
- B. Only after a purchase contract has been fully executed
- C. Early in the relationship, before the consumer relies on the licensee's guidance or shares confidential negotiating information
- D. At the closing table, immediately before signing
Show answer & explanation
Answer: C
Agency disclosure is meant to inform a consumer who the licensee represents before the consumer relies on that licensee's guidance or shares sensitive negotiating information, so it belongs early in the relationship rather than after the fact. Waiting until closing or a signed contract defeats the purpose of the disclosure, since the consumer would have already relied on the licensee's guidance without knowing whose interests were being served.
9. A seller in Pinedale signs a document promising to sell her cabin to a buyer, but the buyer promises nothing of value in return. What is most likely missing from forming a valid contract?
- A. Legality of purpose
- B. Mutual assent
- C. Consideration
- D. Capacity of the parties
Show answer & explanation
Answer: C
Consideration requires each party to give something of legal value in exchange, so a one-sided promise where the buyer offers nothing in return fails to establish an enforceable contract. Mutual assent concerns whether both parties agreed to the same terms, which is a separate requirement from whether value was actually exchanged.
10. "Deal, she's yours at that price," a rancher near Big Piney says after shaking hands with a buyer over a verbal home-sale price, intending to sign paperwork the following week. Before any writing is signed, the rancher changes her mind and backs out. Can the buyer generally enforce the verbal agreement in court?
- A. No, because real estate contracts are void unless notarized at signing
- B. No, because the statute of frauds generally requires real estate contracts to be in writing to be enforceable
- C. Yes, verbal agreements for real estate are always enforceable if a witness confirms them
- D. Yes, but only if the buyer already paid earnest money in cash
Show answer & explanation
Answer: B
The statute of frauds requires most real estate sale contracts to be in writing to be enforceable, so a purely verbal agreement, even sealed with a handshake, generally cannot be enforced against a party who backs out before signing. Earnest money changing hands does not cure the lack of a written agreement, and notarization is a separate matter from the writing requirement itself.
11. Days before closing on a home in Guernsey, a title search turns up an old, unreleased mechanic's lien from a contractor the seller paid years ago. What must happen before the seller can convey marketable title?
- A. The lien must be released or otherwise cleared from the title before closing so the seller can convey marketable title
- B. The sale becomes automatically void since any lien makes a title permanently unmarketable
- C. The title company must simply omit the lien from the title commitment
- D. The buyer must accept title subject to the lien and resolve it after closing
Show answer & explanation
Answer: A
Marketable title requires the property to be free of undisclosed liens or encumbrances that would impair a buyer's ownership, so an outstanding mechanic's lien generally must be released or satisfied before or at closing rather than passed along to the buyer. A lien does not automatically void a sale, and a title company omitting a known lien from the commitment would not actually clear the seller's obligation to convey clean title.
12. A lender in Rawlins forecloses on a defaulted loan through a court proceeding rather than a non-judicial sale process. What type of foreclosure is this?
- A. Power-of-sale foreclosure
- B. Judicial foreclosure
- C. Strict foreclosure
- D. Deed-in-lieu foreclosure
Show answer & explanation
Answer: B
Judicial foreclosure proceeds through the court system, requiring the lender to file a lawsuit and obtain a court order before the property can be sold to satisfy the debt. A power-of-sale foreclosure instead allows a trustee to sell the property without court involvement when the security instrument grants that authority, which is not what occurred here.
13. "You'll need mortgage insurance since you're putting down less than 20 percent," a loan officer tells a buyer financing a home in Alpine with a conventional loan. What is the lender protecting against by requiring this?
- A. The seller's liability for undisclosed property defects
- B. The buyer's ability to make future improvements
- C. The lender's risk of loss if the borrower defaults with relatively little equity in the property
- D. The title company's exposure to recording errors
Show answer & explanation
Answer: C
Lenders typically require private mortgage insurance on conventional loans when the down payment is well below 20%, since it protects the lender against loss if the borrower defaults with relatively little equity built up in the property. It has nothing to do with the seller's disclosure obligations or a title company's recording exposure, which are unrelated risks in the transaction.
14. "It sold for $176,400 and rents for $1,470 a month," an appraiser notes about a comparable fourplex near Mountain View. Based on this sale, what gross rent multiplier should the appraiser apply?
- A. 120
- B. 10
- C. 1,200
- D. 12
Show answer & explanation
Answer: A
The gross rent multiplier is calculated by dividing the sale price by the monthly rent, so $176,400 divided by $1,470 equals 120. Shifting the decimal point in either direction, or mistakenly dividing by the annual rather than the monthly rent, produces the other incorrect multipliers rather than the multiplier this sale actually supports.
15. What approach to value should an appraiser use for a newly built veterinary clinic near Hanna, a specialized property type with almost no comparable sales nearby, by estimating the land value and adding the cost to construct a similar building today, minus depreciation?
- A. Gross rent multiplier approach
- B. Sales comparison approach
- C. Income approach
- D. Cost approach
Show answer & explanation
Answer: D
The cost approach estimates value as land value plus the cost to reproduce or replace improvements minus depreciation, and it is particularly useful for unique or special-purpose properties with few comparable sales. The sales comparison approach instead requires similar recent sales to analyze and adjust, which may not exist for an unusual property type like a purpose-built veterinary clinic.
16. An appraiser notes that a home in Sundance has an outdated single-bathroom layout for its size, a design flaw common to homes built decades ago in that neighborhood. What type of depreciation does this represent?
- A. Curable physical depreciation
- B. Physical deterioration
- C. External (economic) obsolescence
- D. Functional obsolescence
Show answer & explanation
Answer: D
Functional obsolescence refers to a loss in value caused by outdated design features, such as an insufficient number of bathrooms for a home's size, rather than physical wear or outside economic influences. External obsolescence instead comes from factors outside the property itself, like nearby land uses or market conditions, which is not what is described in this scenario.
17. A buyer asks a listing agent in Cody whether a previous occupant died of natural causes in the home years ago. Unsolicited disclosure of this type of fact is not generally required, but the agent has been directly asked. What is the appropriate response?
- A. Deny knowledge even if the agent knows the answer, to avoid liability
- B. Provide a vague answer designed to avoid the topic entirely
- C. Answer truthfully, since a direct question was asked even if unsolicited disclosure is not otherwise required
- D. Refuse to answer and refer the buyer to the seller's attorney only
Show answer & explanation
Answer: C
Even where a stigma-related fact does not require unsolicited disclosure, an agent who is directly and specifically asked a factual question should answer truthfully rather than deny knowledge or dodge the question, since knowingly misrepresenting facts in response to a direct inquiry can expose the agent and brokerage to liability. Simply refusing to engage does not fulfill the duty of honesty owed once the question has actually been asked.
18. A past client's former agent in Douglas is later asked by a new buyer client what the former client would have accepted below asking price. The representation of the former client ended over a year ago. What is the correct response?
- A. Share only general market trends, since specific figures are fine to disclose
- B. Share the information freely since the representation has ended
- C. Disclose it only if the new client promises to keep it private
- D. Continue to protect the confidential information from the past representation
Show answer & explanation
Answer: D
The duty of confidentiality to a former client generally survives the end of the agency relationship, so information learned during that past representation, such as a client's minimum acceptable price, should still be protected rather than shared with a new client. The passage of time since representation ended does not automatically remove that ongoing duty.
19. A salesperson in Kemmerer writes a Facebook ad for a listing that overstates the lot size by nearly half an acre to attract more interest. What ethical and legal principle does this violate?
- A. Fair housing familial status protections
- B. Antitrust prohibitions on price fixing
- C. RESPA's referral fee restrictions
- D. Truth-in-advertising standards prohibiting false or misleading claims
Show answer & explanation
Answer: D
Advertising must be truthful and not misleading, so materially overstating a measurable fact like lot size to generate more interest violates truth-in-advertising standards that protect consumers from false claims. This scenario involves neither a protected-class housing issue nor a referral-fee or pricing violation, which are distinct legal concerns unrelated to exaggerated advertising claims.
20. An agent contacts several homeowners near Superior, suggesting that families of a different race are about to move into the neighborhood and that they should sell quickly before values fall. What Fair Housing Act violation does this represent?
- A. Redlining
- B. Blockbusting
- C. Steering
- D. Restrictive covenant enforcement
Show answer & explanation
Answer: B
Blockbusting occurs when someone induces property owners to sell by suggesting that persons of a particular protected class are about to move into the neighborhood, typically implying a resulting decline in value or safety. Steering instead involves directing buyers toward or away from neighborhoods based on a protected characteristic, and redlining involves lenders or insurers denying services based on a neighborhood's demographics, neither of which matches inducing panic selling.
21. A consumer in Cheyenne wants to file a complaint alleging that a Wyoming salesperson mishandled trust funds. Which entity has authority to investigate and discipline that licensee?
- A. The Wyoming Real Estate Commission
- B. The buyer's title insurance company
- C. The National Association of Realtors
- D. The local county sheriff's office
Show answer & explanation
Answer: A
The Wyoming Real Estate Commission is the state agency with authority to investigate complaints against real estate licensees and impose discipline for violations of license law, including trust fund mishandling. A title company and a national trade association have no regulatory or disciplinary authority over a licensee's conduct under state law.
22. "I finished all my coursework, can I apply now?" a 17-year-old high school graduate near Hudson asks about a Wyoming real estate salesperson license. What eligibility requirement is she unable to meet?
- A. She must be a Wyoming property owner
- B. She must first work as an unlicensed assistant for one year
- C. She must first obtain a broker's license
- D. She must have reached the age of majority
Show answer & explanation
Answer: D
Wyoming law requires an applicant for a salesperson's license to have reached the age of majority, and a 17-year-old has not yet met that threshold regardless of completed coursework. There is no requirement to first work as an unlicensed assistant, hold a broker's license before a salesperson's license, or own property in the state.
23. A first-time applicant in Casper has passed the national portion of the salesperson exam but has not yet passed the Wyoming state portion. Can she submit her license application now?
- A. No, a first-time applicant must pass both the national and state portions before applying
- B. Yes, the national portion alone qualifies her to apply
- C. No, she must retake the national portion again first
- D. Yes, as long as she schedules the state portion within a year
Show answer & explanation
Answer: A
First-time license applicants in Wyoming must pass both the national and state portions of the exam before submitting a license application, so passing only the national portion is not sufficient to proceed. There is no requirement to retake an already-passed national portion, since the missing requirement is completing the state portion, not repeating the national one.
24. What license law violation occurs when a broker near Rock River deposits a tenant's security deposit into the same account the firm uses to cover its advertising and utility bills?
- A. Procuring cause dispute
- B. Failure to provide agency disclosure
- C. Commingling of trust funds
- D. Undisclosed dual agency
Show answer & explanation
Answer: C
Commingling occurs when a broker mixes client trust funds with personal or business operating funds instead of keeping them in a separate, dedicated trust account, which is exactly what happened by depositing a tenant's security deposit into the firm's advertising and utility account. This is a distinct violation from agency disclosure failures or procuring cause disputes, which involve entirely different aspects of license law and practice.
25. A salesperson in Cody posts a for-sale ad online listing only her personal cell number, with no mention of her brokerage's name anywhere in the ad. What license law concern does this raise?
- A. A RESPA kickback violation
- B. An unauthorized dual agency arrangement
- C. A prohibited blind advertisement that fails to identify the brokerage
- D. A fair housing familial status violation
Show answer & explanation
Answer: C
License law generally requires advertising by a licensee to identify the brokerage under which they are licensed, so an ad that omits any reference to the brokerage is a prohibited blind advertisement. This issue is about advertising transparency and licensee identification, not a fair housing, referral-fee, or dual agency concern, which involve different conduct entirely.
26. An unlicensed personal assistant working for a broker in Powell wants to help by negotiating price terms directly with a prospective buyer during an open house. Is this permissible under license law?
- A. Yes, provided the assistant is a family member of the broker
- B. No, unlicensed assistants may not negotiate price or terms on behalf of a licensee
- C. Yes, since open houses are exempt from licensing requirements
- D. Yes, as long as the assistant reports the conversation to the broker afterward
Show answer & explanation
Answer: B
Unlicensed assistants may perform limited clerical and administrative support tasks, but they may not negotiate price, terms, or other substantive aspects of a transaction, since that activity requires a real estate license. Reporting the conversation afterward, holding an open house, or being related to the broker does not create an exception allowing an unlicensed person to negotiate on a licensee's behalf.
27. During the licensing process, a first-time applicant in Rock Springs is required to submit fingerprint cards so the Commission can complete a background check before licensure. What is the primary purpose of this requirement?
- A. To satisfy a requirement unrelated to licensure eligibility
- B. To verify the applicant's completion of pre-licensing coursework
- C. To allow a criminal history review as part of assessing the applicant's fitness for licensure
- D. To confirm the applicant's identity for the national exam only
Show answer & explanation
Answer: C
Fingerprint submission supports a criminal background check that the licensing authority uses to assess an applicant's fitness for holding a real estate license, since license law aims to protect the public from unqualified or untrustworthy licensees. This requirement is not about verifying coursework completion, which is documented separately, nor is it limited to exam identity confirmation.
28. While settling her late husband's estate near Newcastle, a widow learns that he and his brother held a 60-acre hay parcel as joint tenants with right of survivorship. Her husband has now died. What happens to his interest in the parcel?
- A. It passes automatically to the surviving brother, bypassing probate
- B. It passes through the husband's will to whomever he named
- C. It reverts to the county because no probate transfer occurred
- D. It is divided equally between the widow and the surviving brother
Show answer & explanation
Answer: A
Joint tenancy carries the right of survivorship, so a deceased joint tenant's interest transfers immediately and automatically to the surviving joint tenant outside of probate, meaning the widow inherits nothing directly through this parcel's title. Tenancy in common, by contrast, would allow the husband's share to pass through his will or to his heirs, which is the outcome the wrong choices describe for that different form of co-ownership.
29. To finance a barn renovation, a rancher near Wright sells only the surface rights to a 20-acre pasture while retaining all subsurface coal and mineral rights through a separate recorded conveyance. What best describes the buyer's resulting ownership?
- A. The buyer holds a leasehold interest until the mineral rights expire
- B. The buyer owns the surface estate only, and the mineral estate has been severed as a separate, distinct property interest
- C. The buyer's ownership is void because mineral and surface rights cannot be conveyed separately
- D. The buyer owns a fee simple estate that includes automatic access to any minerals discovered later
Show answer & explanation
Answer: B
Mineral rights can be severed from surface rights and conveyed or retained separately, creating two distinct estates in the same land, a common arrangement in mineral- and coal-producing regions. The surface owner in that situation does not automatically gain rights to underlying minerals, and the split ownership is a valid, enforceable form of title rather than something that voids the conveyance.
30. In Pine Bluffs, a homeowner discovers that a neighbor's storage shed sits three feet over the property line without any agreement allowing it. What is this situation best described as?
- A. A deed restriction
- B. An encroachment
- C. A license
- D. A lien
Show answer & explanation
Answer: B
An encroachment occurs when a structure or improvement extends onto a neighboring owner's land without legal right, which is exactly what an unauthorized shed placement across a boundary line represents. A lien is a financial claim against property, and a license is merely permission to use land that can be revoked, neither of which describes a physical boundary intrusion.
31. "I could go as high as $12,000 over my current offer if that's what it takes," a buyer tells her exclusive agent during a private showing in Afton. What must the agent do with this information?
- A. Report it to the broker's file for compliance purposes only
- B. Share it with the listing agent to speed up negotiations
- C. Disclose it to the seller directly since it affects the sale price
- D. Keep it confidential and use it only to serve the buyer's interests
Show answer & explanation
Answer: D
An agent owes a fiduciary duty of confidentiality to their client, meaning information about a buyer's negotiating position must not be disclosed to the other side of the transaction. Passing that figure to the seller or listing agent would breach loyalty to the buyer and could directly harm the buyer's negotiating leverage.
32. During a walkthrough in Basin, a newly licensed salesperson tells a buyer the home has 2,400 square feet when it is actually much smaller, and her supervising broker never learns of the statement until after the buyer sues. Under general agency principles, who can generally be held liable along with the salesperson?
- A. The supervising broker, under vicarious liability for acts within the scope of the salesperson's employment
- B. No one can be held liable because the statement was unintentional
- C. The multiple listing service that published the original listing data
- D. Only the salesperson, since the broker had no knowledge of the statement
Show answer & explanation
Answer: A
Because salespersons act as agents of their supervising broker, brokers can be held vicariously liable for a salesperson's misrepresentations made within the scope of their real estate duties, even without personal knowledge of the statement. Liability is not limited to the salesperson alone, and an unrelated party like the MLS that merely published listing data did not make the false statement.
33. A brokerage in Evanston sets a salesperson's own hours and lets her choose which leads to pursue, paying her only through commission splits rather than a salary. This arrangement is most consistent with which classification?
- A. Property manager
- B. Employee
- C. Subagent
- D. Independent contractor
Show answer & explanation
Answer: D
Independent contractor status is typically indicated by control over one's own schedule, commission-based pay rather than salary, and discretion over which work to pursue, all present here. An employee relationship instead usually involves the broker directing specific hours and methods of work, which is not the arrangement described.
34. After closing on a home in Sundance, a buyer discovers that the salesperson who claimed to represent only the buyer was secretly being paid a bonus by the seller's brokerage to steer the buyer toward that specific listing, without ever disclosing the arrangement. What is this situation most accurately characterized as?
- A. A permissible incentive as long as the buyer got a fair price
- B. Undisclosed dual agency or an undisclosed conflict of interest breaching fiduciary duty
- C. A standard cooperating-broker commission split
- D. A legitimate referral fee arrangement
Show answer & explanation
Answer: B
An agent who is secretly compensated by the opposing side while claiming exclusive loyalty to one client has an undisclosed conflict of interest that breaches the fiduciary duties of loyalty and full disclosure owed to that client. This is not a routine commission split or referral fee, because those are between brokerages and do not involve concealing a conflicting payment from the represented client.
35. A buyer submits a signed written offer of $340,000 on a horse property near Lusk, and the seller responds with a signed counteroffer at $355,000. When the buyer then insists on paying the original $340,000 price, what is the legal effect?
- A. The buyer can still insist on the original price because it was never formally withdrawn
- B. Both prices remain open simultaneously until one party withdraws
- C. The seller's counteroffer terminated the original offer, so the buyer can no longer revive the original price
- D. The higher price automatically controls, but the buyer can renegotiate later
Show answer & explanation
Answer: C
A counteroffer operates as a rejection of the original offer and terminates it, so once the seller countered at $355,000 the original $340,000 offer was no longer available for the buyer to accept or revive. The buyer would instead need to accept the counteroffer's terms or submit an entirely new offer.
36. Settling an estate in Moorcroft, an executor offers a deed on a commercial building that only warrants against title defects arising during the decedent's own period of ownership, not defects from earlier owners. What type of deed is this?
- A. Bargain and sale deed with no covenants
- B. Special warranty deed
- C. Quitclaim deed
- D. General warranty deed
Show answer & explanation
Answer: B
A special warranty deed limits the grantor's warranty of title to defects that arose only during that grantor's own period of ownership, unlike a general warranty deed, which warrants against title defects from all prior owners as well. A quitclaim deed offers no warranty of title at all, which is a lower level of protection than what the executor is offering here.
37. While preparing to sell her ranch near Meeteetse, an owner's title attorney discovers that a neighbor has openly and continuously grazed cattle on a fenced-off strip of her land for well over the statutory period, without her permission and without any objection ever raised. What legal doctrine could allow the neighbor to eventually claim title to that strip?
- A. Escheat
- B. Adverse possession
- C. Constructive eviction
- D. Eminent domain
Show answer & explanation
Answer: B
Adverse possession allows someone who occupies land openly, continuously, and without the true owner's permission for a legally sufficient period to eventually claim title, which fits a neighbor grazing cattle on a fenced-off strip unchallenged for years. Eminent domain instead involves government taking of property for public use with compensation, which has no application to a private dispute uncovered during a title review.
38. A buyer submits an earnest money deposit with her purchase offer on a home in Cheyenne. Who should typically hold that deposit before closing?
- A. The buyer's lender, to apply toward loan underwriting
- B. The buyer's own agent, kept in a personal account until closing
- C. The seller directly, to demonstrate the buyer's commitment
- D. A neutral third party such as an escrow or title company
Show answer & explanation
Answer: D
Earnest money is typically held by a neutral third party, such as an escrow or title company, to protect both parties until the transaction closes or the contract otherwise ends. Handing the funds directly to the seller, the buyer's own agent's personal account, or a lender before closing would remove that neutral protection and create risk for the depositing buyer.
39. "I already paid the whole year's HOA dues back in January," a seller closing on a townhome near Wheatland in July tells the closing agent. How should those prepaid dues be handled in settlement?
- A. The seller absorbs the full cost with no adjustment
- B. The dues are simply forgiven for the rest of the year
- C. The HOA refunds the prepaid dues directly to the seller
- D. The buyer credits the seller for the portion of dues covering the buyer's remaining months of ownership
Show answer & explanation
Answer: D
Proration at closing divides prepaid shared expenses like HOA dues between the buyer and seller based on each party's period of ownership within the covered period. Since the seller already paid dues covering months after closing when the buyer will own the townhome, the buyer credits the seller for that remaining portion rather than the seller absorbing the full cost or the HOA issuing a refund.
40. "You're financing $188,400, and locking in this rate means paying 1.65 discount points at closing," a loan officer tells a buyer refinancing a duplex near Saratoga. How much will the buyer owe in points?
- A. $2,826.00
- B. $31,086.00
- C. $3,108.60
- D. $1,884.00
Show answer & explanation
Answer: C
Each discount point equals one percent of the loan amount, so 1.65 points on a $188,400 loan is calculated as $188,400 multiplied by 0.0165, which equals $3,108.60. Using only 1% or 1.5% instead of the full 1.65%, or misplacing a decimal to treat the rate as 16.5%, produces the smaller or drastically larger incorrect totals among the other choices.
41. To close on a $146,000 fixer-upper near Thermopolis, a buyer puts down $36,500 in cash. What loan-to-value ratio results from this purchase?
- A. 133%
- B. 75%
- C. 25%
- D. 80%
Show answer & explanation
Answer: B
Loan-to-value ratio is the loan amount divided by the purchase price; here the loan amount is $146,000 minus the $36,500 down payment, or $109,500, and $109,500 divided by $146,000 equals 75%. Calculating the down payment's percentage of price instead of the loan's percentage produces the 25% figure, which describes the down payment ratio rather than the loan-to-value ratio the lender actually uses.
42. A lender in Sheridan uses a security instrument that names a neutral trustee to hold legal title until the loan is repaid, rather than creating a direct lien in the lender's name alone. What is this financing instrument commonly called?
- A. A deed of trust
- B. A lease-purchase agreement
- C. A land contract
- D. A promissory note
Show answer & explanation
Answer: A
A deed of trust involves a three-party arrangement where a trustee holds legal title as security for the loan until it is repaid, which differs from a traditional mortgage's two-party lien structure directly between borrower and lender. A promissory note is simply the borrower's written promise to repay the debt and does not itself create the trustee arrangement described.
43. A homeowner in Buffalo wants to let a buyer simply take over her existing mortgage payments without notifying the lender. Her loan documents contain a due-on-sale clause. What is the most likely consequence?
- A. The clause automatically transfers the loan to the new buyer at the same terms
- B. The clause only affects the interest rate, not the loan balance
- C. The lender can call the full loan balance due immediately once the property transfers
- D. The lender must approve because due-on-sale clauses only apply to commercial loans
Show answer & explanation
Answer: C
A due-on-sale clause gives the lender the right to demand full repayment of the remaining loan balance if the property is transferred without the lender's consent, precisely to prevent an unapproved assumption like this. It does not automatically transfer the loan to a new buyer or merely adjust the interest rate; it protects the lender's ability to reassess the loan when ownership changes.
44. "Your rate stays the same for the first five years, then it resets periodically based on a market index," a lender explains to a first-time buyer financing a cabin near Kaycee. What type of loan is being described?
- A. A graduated payment mortgage
- B. A fixed-rate mortgage
- C. An adjustable-rate mortgage
- D. A wraparound mortgage
Show answer & explanation
Answer: C
An adjustable-rate mortgage has an interest rate that changes periodically after an initial fixed period, based on a financial index, which matches the loan described here. A fixed-rate mortgage instead locks in the same rate for the entire loan term, so its payments would not reset the way this buyer's loan does after the initial five years.
45. A Lysite self-storage owner is preparing an estate plan and needs a defensible number for the asset. Capitalizing its yearly earnings at the market rate her accountant supplied, what figure results?
- A. $60,000
- B. $6,000,000
- C. $600,000
- D. $5,415
Show answer & explanation
Answer: C
The income approach estimates value by dividing net operating income by the capitalization rate, so $57,000 divided by 0.095 equals $600,000. Multiplying the income by the rate's raw number instead of dividing, or misplacing the decimal in the cap rate, produces each of the other incorrect results rather than the value a 9.5% market cap rate actually indicates.
46. A vacant lot in downtown Gillette could legally support either a small retail building or a parking structure. An appraiser determines which use is most profitable and feasible to establish the lot's value. What appraisal principle is being applied?
- A. Principle of conformity
- B. Highest and best use
- C. Principle of progression
- D. Principle of substitution
Show answer & explanation
Answer: B
Highest and best use identifies the legally permissible, physically possible, and most financially productive use of a site, which is exactly the analysis being performed to determine which of the two possible uses maximizes the lot's value. The principle of substitution instead concerns how buyers compare alternative properties to set a ceiling on value, a different concept from choosing among a single site's possible uses.
47. "My comp doesn't have the detached garage this subject property has," an appraiser near Sinclair notes while finishing a refinance appraisal. How should the appraiser adjust the comparable's sale price?
- A. Make no adjustment since garages rarely affect value
- B. Add the value of the garage to the subject's estimated value
- C. Add the value of the garage to the comparable's price
- D. Subtract the value of the garage from the comparable's price
Show answer & explanation
Answer: C
In the sales comparison approach, adjustments are always made to the comparable, never to the subject property, and a feature the subject has that the comparable lacks is added to the comparable's price to bring it in line with the subject. Adjusting the subject's value directly, or subtracting for a feature the comparable does not have, would misstate the comparable's adjusted value.
48. A seller in Cheyenne knows the basement floods every spring but the buyer's inspector never identifies the issue during a dry season. What is the seller's best course of action regarding this known defect?
- A. Disclose it only if the buyer specifically asks about basements
- B. Wait until after closing to mention it if asked
- C. Disclose the known flooding history to the buyer
- D. Say nothing, since the inspector had a chance to find it
Show answer & explanation
Answer: C
A known material defect that affects a property's value or desirability, such as a recurring flooding history, generally must be disclosed regardless of whether an inspection happened to miss it or whether the buyer thought to ask. Staying silent because an inspector did not catch a hidden, known problem risks a misrepresentation claim after closing.
49. A listing description for a home in Laramie calls the kitchen 'absolutely stunning' but also falsely states the roof was replaced last year when it was not. Which statement crosses from acceptable opinion into a misrepresentation problem?
- A. The false statement about the roof replacement date
- B. Neither statement is a concern
- C. Both statements are equally problematic
- D. The 'absolutely stunning' description of the kitchen
Show answer & explanation
Answer: A
Subjective opinion statements like calling a kitchen 'absolutely stunning' are generally considered acceptable puffing, but a specific, false factual claim about when the roof was replaced is a material misrepresentation because it is a verifiable fact a buyer could reasonably rely on. Puffing and factual misrepresentation are treated differently precisely because one is opinion and the other is a checkable, false claim.
50. "We got three offers today, what do I show the seller?" a new agent asks her broker about a listing in Cokeville. What is the ethical approach to presenting these offers to the seller?
- A. Present only the highest offer to save the seller time
- B. Select the offer from the buyer represented by the same brokerage
- C. Present all offers received to the seller for their own decision
- D. Wait several days to see if a higher offer comes in before presenting any
Show answer & explanation
Answer: C
An agent's fiduciary duty requires presenting all offers received to the seller so the seller, not the agent, makes the decision about which offer to accept, reject, or counter. Filtering offers based on which brokerage represents the buyer, withholding lower offers, or delaying presentation to await better terms would substitute the agent's judgment for the seller's, which is not the agent's role.
51. "I actually want to buy this Dubois property myself," a listing agent admits to her broker after touring the home she has listed for a seller client. What must she do before proceeding?
- A. Resign from the brokerage before making an offer
- B. Fully disclose her licensed status and interest in purchasing to the seller in writing
- C. Nothing, since agents are free to buy any property they list
- D. Purchase through a relative's name to avoid any disclosure requirement
Show answer & explanation
Answer: B
When a licensee wants to purchase a property they have listed, they must fully disclose their license status and personal interest in the transaction to the seller in writing, since the potential conflict of interest could otherwise disadvantage the client. Attempting to purchase indirectly through a relative to avoid disclosure would itself be a deceptive act, not a solution to the conflict.
52. An agent in Cheyenne shows a family with young children homes only in one particular neighborhood, while steering childless buyers toward a wider variety of neighborhoods, based on an assumption about where families 'belong.' What Fair Housing Act violation does this represent?
- A. Restrictive covenant enforcement
- B. Blockbusting
- C. Redlining
- D. Steering
Show answer & explanation
Answer: D
Steering occurs when an agent directs buyers toward or away from certain neighborhoods based on a protected characteristic, such as familial status, rather than the buyer's own stated preferences. Redlining instead refers to lenders or insurers denying services based on a neighborhood's demographics, and blockbusting involves inducing panic selling by suggesting a protected class is moving in, neither of which matches this steering scenario.
53. A rental community in Sheridan advertises 'no children under 18' but does not qualify under any recognized housing-for-older-persons exemption. What Fair Housing Act issue does this policy raise?
- A. It is a lawful discretionary rule since it applies equally to all applicants
- B. It likely violates the familial status protections of the Fair Housing Act
- C. It only affects disability accommodations, not familial status
- D. It is lawful as long as the rule is written in the lease
Show answer & explanation
Answer: B
The Fair Housing Act protects familial status, meaning a blanket policy excluding families with children under 18 is generally unlawful unless the community qualifies for a specific housing-for-older-persons exemption, which this community does not meet. Simply applying the rule uniformly or putting it in writing does not make an otherwise discriminatory policy lawful.
54. What federal law is violated when a home warranty company near Medicine Bow pays a real estate agent a set fee for every client the agent refers for a home warranty policy?
- A. The Truth in Lending Act
- B. The Equal Credit Opportunity Act
- C. The Real Estate Settlement Procedures Act (RESPA)
- D. The Fair Housing Act
Show answer & explanation
Answer: C
RESPA generally prohibits giving or accepting fees, kickbacks, or other things of value in exchange for the referral of settlement service business, which directly addresses a home warranty company paying an agent for client referrals. The Fair Housing Act and Equal Credit Opportunity Act instead address discrimination in housing and lending decisions, not referral compensation between service providers.
55. A seller in Lander is listing a home built in 1965. What federal disclosure requirement is specifically triggered by the home's construction date?
- A. Asbestos abatement disclosure
- B. Lead-based paint disclosure
- C. Radon gas disclosure
- D. Flood zone disclosure
Show answer & explanation
Answer: B
Federal law requires disclosure of known lead-based paint hazards for housing built before 1978, since lead-based paint was commonly used in residential construction prior to that date, which applies to this 1965 home. Flood zone, radon, and asbestos disclosures may be relevant in some transactions but are not the disclosure specifically tied to a home's pre-1978 construction date.
56. Denying a joint refinance application near Story, a lender tells the applicants that a divorced co-applicant's income will be discounted because she is no longer married. What federal law most directly addresses this practice?
- A. The Truth in Lending Act
- B. RESPA
- C. The Fair Housing Act
- D. The Equal Credit Opportunity Act
Show answer & explanation
Answer: D
The Equal Credit Opportunity Act prohibits lenders from discriminating in credit decisions based on factors including marital status, directly addressing a lender discounting an applicant's income because she is divorced. RESPA instead governs settlement service disclosures and referral fees, and the Truth in Lending Act governs credit cost disclosures, neither of which covers discriminatory treatment based on marital status in underwriting.
57. "I just picked up a $2,000 earnest money check from my buyer here in Green River — what do I do with it now?" a new salesperson asks her supervising broker. What does license law require?
- A. Hold onto it personally until closing to avoid paperwork
- B. Deliver it promptly to the supervising broker for proper trust account handling
- C. Return it directly to the buyer's lender
- D. Deposit it into her own personal checking account temporarily
Show answer & explanation
Answer: B
Salespersons act under the supervision of their broker and generally must deliver client funds promptly to the broker for deposit into a proper trust account, rather than holding the funds personally or depositing them into a personal account, which would constitute commingling. Returning the deposit to the buyer's lender is not the correct handling for an earnest money deposit under a purchase contract.
58. An investigation finds that a Wyoming licensee knowingly told a buyer that a property had no known structural issues, when the licensee had actual knowledge of a cracked foundation. What is this most likely to constitute under license law?
- A. A minor advertising technicality
- B. A permissible negotiating tactic
- C. Grounds for disciplinary action based on misrepresentation
- D. A civil matter with no license law implications
Show answer & explanation
Answer: C
Knowingly making a false statement about a material fact, such as denying a known structural defect, constitutes misrepresentation and is grounds for disciplinary action against a licensee under license law. This is not a permissible negotiating tactic or a purely civil matter separate from licensing consequences, since license law directly addresses dishonest conduct by licensees.
59. "I've resigned from my old firm and I'm ready to start showing houses again," a salesperson near Farson tells her new sponsoring broker the same day she signs on. What must happen to her license status before she may resume licensed activity?
- A. Her license must be transferred to or reactivated under the new sponsoring broker before she resumes licensed activity
- B. Her license is automatically canceled and she must reapply as a new applicant
- C. She may practice independently without any sponsoring broker for up to six months
- D. She may continue practicing under the former broker until the new brokerage is ready
Show answer & explanation
Answer: A
A salesperson's license is tied to a sponsoring broker, so when that affiliation ends, the license must be properly transferred to or reactivated under the new broker before the salesperson may resume licensed activity; she cannot keep operating under the former broker or practice independently in the meantime. This transition process is different from full license cancellation, which is not automatically triggered by simply changing brokerages.
60. "Just send my buddy $500 for pointing that buyer our way," a broker near Lusk tells his assistant, referring to a friend who is not a licensed real estate agent. Is this permissible?
- A. No, referral fees for real estate transactions generally may be paid only to licensed persons
- B. Yes, as long as the fee is disclosed to the buyer
- C. Yes, if the friend signs a waiver
- D. Yes, provided the fee is under $1,000
Show answer & explanation
Answer: A
License law generally prohibits paying compensation for real estate referral activity to anyone who is not a licensed real estate professional, regardless of disclosure, waivers, or the dollar amount involved. Allowing unlicensed persons to receive transaction-related compensation would circumvent the licensing requirement meant to ensure real estate activity is conducted by qualified, accountable licensees.
61. A Wyoming licensee under investigation for a client complaint refuses to respond to the Commission's written requests for records related to the transaction. What is the likely consequence of this refusal?
- A. Additional disciplinary action for failing to cooperate with a Commission investigation
- B. No consequence, since licensees may decline to participate in investigations
- C. The Commission must obtain a court order before requesting any records
- D. The complaint is automatically dismissed if the licensee stays silent
Show answer & explanation
Answer: A
Licensees are generally obligated to cooperate with the Commission's investigative requests, and refusing to respond can itself result in additional disciplinary action separate from the underlying complaint. Silence does not cause a complaint to be dismissed, and the Commission does not need to obtain a court order merely to make an initial request for transaction-related records from a licensee it regulates.

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Key facts: Wyoming Real Estate exam

Scaled 75 (0-100 scale)

To pass

$80

Exam fee

The Wyoming Real Estate is administered by Wyoming Real Estate Commission, with a Scaled 75 (0-100 scale) result.

This free Wyoming Real Estate practice test has 61 original questions written to Wyoming Real Estate Commission's official content outline, last checked against it on August 11, 2026. Every question shows a worked explanation, and nothing here requires a signup.

As of 2026, the Wyoming Real Estate exam fee is $80 (per portion at a test center; $90 per portion via OnVUE remote).

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Official sources

Every exam fact on this page traces to a primary document published by the body that administers the exam.

Wyoming Real Estate Candidate Handbook (Pearson VUE, official exam vendor for the Wyoming Real Estate Commission)Wyoming Real Estate Commissionpearsonvue.com
Wyoming Real Estate Commission – Obtain a Real Estate LicenseWyoming Real Estate Commissionrealestate.wyo.gov
Wyoming Statutes Title 33, Chapter 28 – Real Estate Brokers and Salespersons (Wyoming Legislature, official state law)Wyoming Real Estate Commissionwyoleg.gov

Last verified against the official exam content outline: August 11, 2026

Frequently asked questions

How many questions are on the Wyoming real estate salesperson exam?

The exam is split into two separately scored portions: the national portion has 80 scored items plus 5 unscored pretest items, and the Wyoming state portion has 40 scored items plus 5-10 unscored pretest items. A good practice test mirrors both portions separately rather than lumping them into one combined score.

What score do I need on a practice test to know I'm ready?

The real exam uses a scaled passing score of 75 on a 0-100 scale, applied separately to each portion. Treat that 75 as your target on practice sets for both the national and state content before scheduling the real exam.

What topics should a Wyoming salesperson practice test cover?

Coverage should track the official outline: national topics like property descriptions and property use (11 scored items on the real exam), plus Wyoming-specific topics such as licensing, the licensing agency's powers, and licensee requirements and activities. Wyoming statute also specifically calls out business ethics, composition, arithmetic, land economics and appraisal, and state law on deeds, mortgages, contracts, and agency.

Is this practice test free, and do I need to sign up?

Yes, this practice test is free to use and does not require creating an account. You can work through questions immediately and revisit them as many times as you like while preparing.

How should I use a practice test to prepare for this exam?

Work through practice questions by content area, review the explanation for every miss, and retake weaker sections until you're consistently scoring above your target. Because the real exam has separately timed national and state portions, it also helps to practice under similarly split time pressure rather than one long open-ended session.

How long is the actual exam I'm practicing for?

The national portion allows 2.5 hours and the Wyoming state portion allows 1.5 hours, taken as separate timed sessions. Pace your practice sessions to these limits so exam-day timing doesn't come as a surprise.