Drafting and Supervision Knowledge
Area V is the single largest block, 37 of 100 items. Despite the heading, none of its lettered subtopics is about supervision: subtopic A names twelve documents, subtopic B covers two issues related to forms, and subtopic C is the obligation to furnish copies and maintain records. This is document mechanics, and the exam displays WB forms on screen for questions that need them.
The named forms
Subtopic A lists the WB-1 Residential Listing Contract, the WB-11 Residential Offer to Purchase, real estate condition reports, the WB-25 Bill of Sale, the WB-36 buyer agency form, the WB-40 Amendment, the WB-41 Notice, the WB-44 Counter-Offer, the WB-45 Cancellation and Mutual Release, the WB-46 Multiple Counter-Proposal, agency disclosures and lead-based paint disclosures. Note that the outline dates from 2016 and the forms have been revised since: DSPS now titles the WB-36 the Buyer Agency Agreement, with tenant representation moved to a separate WB-39, and the WB-45 is the Cancellation Agreement and Mutual Release.
WB-1 and WB-36: earning, extension and termination
The WB-1 lists five events that earn the commission, including a ready, willing and able buyer's bona fide written offer at or above the list price on substantially the same terms even if Seller does not accept it, and makes the commission due at the earlier of closing or the date set for closing even if the transaction does not close. Both forms extend for one year as to a Protected Buyer or Protected Property, and both provide that a termination by the Firm is effective only if put in writing by the supervising broker. The WB-36 caps the Firm's compensation from any source at the amount or rate agreed in the Agreement and carries the § 779.32 lien notice, which reaches commercial real estate only.
WB-11 mechanics
The current WB-11 defaults matter: the listing Firm holds earnest money if none is chosen; the Inspection Contingency runs 15 days after acceptance if the blank is left blank and the Radon Testing Contingency 20; radon objections are keyed to 4.0 pCi/L; a Firm holding earnest money may disburse under the listed alternatives once 60 days have passed after the date set for closing without a disbursement agreement; damage above five percent of the purchase price lets Buyer terminate; Deadlines in days exclude the day of the event and expire at 11:59 p.m. Central Time; and terms preceded by an OPEN BOX are in the Offer only if the box is marked.
Amendments, notices, counters and records
Use a WB-40 when both Parties will agree to modify the Offer and a WB-41 when a Party gives a notice that needs no agreement; an offered Amendment may be withdrawn before acceptance and delivery, while a delivered Notice cannot be withdrawn without the Receiving Party's written consent. A WB-44 rejects the offer it answers and does not pick up terms from another counter unless incorporated by reference; a buyer who cannot approve a WB-46 in its entirety must use a WB-44 or a new offer. On records, § REEB 15.02 requires exact and complete copies to everyone who signed and to the seller, buyer, listing broker and selling broker, and § REEB 15.04 (1) requires a two-year retention period.
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State-specific details
State exam facts
- State regulator
- Wisconsin Dept. of Safety and Professional Services (DSPS)
- Exam vendor
- Pearson VUE
- Prelicensing education
- 72-hour approved broker program (or 20 semester-hour credits, or a Wisconsin law license)
- Passing score
- Scaled score of 75 on a 0-100 scale
- Scored questions
- 100
- Time limit
- 195 minutes
Who regulates real estate brokers in Wisconsin?
The Wisconsin Department of Safety and Professional Services (DSPS), through the Real Estate Examining Board, licenses real estate brokers under Wis. Stat. ch. 452 and the board's rules in chs. REEB 11 to 25. DSPS contracts with Pearson VUE to deliver the exams.
What education do I need before the Wisconsin broker exam?
Per the Pearson VUE Wisconsin Real Estate Candidate Handbook, broker applicants must first satisfy the salesperson education and examination requirements or hold a Wisconsin salesperson license, and then complete one of three routes: an approved broker education program (72 hours for resident applicants), 20 semester-hour credits in real estate or real-estate-related law at an accredited institution, or a license to practice law in Wisconsin. Wisconsin sets no fixed period of salesperson experience for the broker license.
How is the Wisconsin broker exam structured?
The Wisconsin broker exam is a single 100-question all-Wisconsin paper, plus 5 to 10 unidentified pretest items, with 3.25 hours allotted. There is no national portion: the Pearson VUE broker content outline (#095006) publishes six Wisconsin areas summing to 100 items — Real Estate Practice 19, Trust Accounts 12, Conduct and Ethical Practices 22, Approved Forms and Legal Advice 6, Drafting and Supervision Knowledge 37, and Miscellaneous 4. Passing is a scaled score of 75 on a 0-100 converted scale set by DSPS, which the handbook notes is neither the number nor the percentage of questions answered correctly. The exam fee is $65.
Sources: https://www.pearsonvue.com/content/dam/VUE/vue/en/documents/publications/095006.pdf, https://www.pearsonvue.com/content/dam/VUE/vue/en/documents/publications/095000.pdf, https://dsps.wi.gov/Pages/Professions/REBroker/Exams.aspx, https://www.pearsonvue.com/us/en/wi/realestate.html
In the Wisconsin Real Estate Broker guide: A 60-question practice exam on the national principles, with a key that explains all four options and not just the right one. Practice here stays free.