Wyoming Real Estate Broker Exam — All Questions

A new environmental ordinance leaves a landowner with no economically viable use of a parcel, although the government takes no title to it. The owner's strongest constitutional claim is:

• a.The ordinance is void because zoning cannot restrict use
• b.A regulatory taking entitling the owner to payment✓
• c.Escheat has occurred and the state now owns the parcel
• d.Spot zoning, since only this parcel lost its value

Regulation that goes so far it denies an owner all economically viable use is treated as a regulatory taking, and just compensation is owed even though the government never took title. Arguing that zoning simply cannot restrict use fails, because regulating land is a valid exercise of the police power and owners have no right to the most profitable use. Escheat moves property to the state only when an owner dies with no will and no heirs, which has nothing to do with an ordinance. Spot zoning describes singling out one parcel for a different classification, not a general environmental rule applied to a class of land.

Reviewing a title report, a broker finds an old recorded covenant, written decades ago, that bars resale of the lot to members of a specified race. Its legal effect today is:

• a.It binds the buyer because it was recorded before purchase
• b.It is void, so a court will never enforce it or enjoin it✓
• c.It stays valid until the homeowners association removes it
• d.It is enforceable by the association but not by an owner

A private restriction that discriminates on a protected basis is void and unenforceable under the federal Fair Housing Act and the Civil Rights Act of 1866, so no court will order compliance or enjoin a violation, and the association has no power the courts would back. Recording rescues nothing, because an illegal restriction gains no force from sitting in the public record. No association vote is required to strip it of effect, although many states let an owner have the language formally struck. Valid CC&Rs, by contrast, are enforced privately by injunction brought by an owner or the association. A broker must never repeat or give effect to such language.

A grantor signs and notarizes a deed naming a nephew as grantee, locks it in a safe deposit box, and tells no one. The grantor later dies. What is the deed's effect?

• a.Title passed when the grantor signed the deed
• b.Title passed because the deed was acknowledged
• c.No title passed, because delivery never occurred✓
• d.Title passes when the estate later records it

A deed operates only when the grantor delivers it with the present intent to pass title and the grantee accepts, and both must happen while the grantor is alive. Signing accomplishes nothing while the instrument stays under the grantor's control in a box no one knows about. Acknowledgment before a notary serves recording, not validity, so notarizing it changes nothing here. An estate representative cannot supply the delivery the grantor failed to make, and recording an undelivered deed does not revive it. The nephew takes only through the will or the intestacy statute, which is why closings hand over the executed deed rather than merely signing it.

A deed is signed by a competent grantor and handed to a grantee who accepts it, but the grantor's signature was never notarized. As between those two parties, the deed is:

• a.Void, since notarizing is a validity requirement
• b.Valid, though it cannot be recorded as it stands✓
• c.Valid only if the grantee later pays a recording fee
• d.Voidable at the option of the grantor's creditors

Acknowledgment is a recording requirement, not an element of a valid deed. Delivered and accepted, the deed transfers title between grantor and grantee even with no notary, but the recorder will reject it, leaving the grantee exposed to later purchasers and lienholders who record first. Calling it void confuses the two ideas: validity turns on a competent grantor, an identifiable grantee, words of conveyance, an adequate legal description, the grantor's signature, and delivery and acceptance. Paying a fee cannot cure a missing acknowledgment, because the recorder cannot accept the instrument at all. Creditors of the grantor gain no power to undo a completed conveyance.

In a deed, which clause opens with the words 'to have and to hold' and defines the extent of the estate the grantee is receiving?

• a.The granting clause containing the words of conveyance
• b.The habendum clause, following the granting clause✓
• c.The acknowledgment taken before a notary public officer
• d.The legal description identifying the land conveyed

The habendum clause follows the granting clause, begins with the traditional phrase 'to have and to hold,' and spells out the estate conveyed, for example a fee simple absolute or a life estate. The granting clause holds the words of conveyance that actually transfer the interest and names the grantee. The acknowledgment is the notary's certificate that the signature is genuine, which the recorder requires but the transfer does not. The legal description identifies the land by metes and bounds, lot and block, or government survey, and it fixes what is conveyed rather than how much of an estate. Reading both clauses tells a broker exactly what the buyer is getting.

A relocation company that has owned a home for three months conveys it, warranting title only against defects that arose during its own ownership. The deed it delivers is a:

• a.Bargain and sale deed implying ownership without covenants
• b.General warranty deed covering the entire chain of title
• c.Quitclaim deed conveying only the interest actually held
• d.Special (limited) warranty deed covering the grantor's period✓

Warranting only against defects created or suffered while the grantor held title describes the special or limited warranty deed, the customary instrument for corporate, relocation, and fiduciary sellers who cannot vouch for what earlier owners did. A general warranty deed reaches back through the whole history of the property and offers the broadest protection, which is more than this seller is giving. A quitclaim carries no warranties at all and passes only whatever interest the signer happens to hold. A bargain and sale deed implies that the grantor owns the property but adds few or no covenants. A buyer taking narrower covenants should lean on an owner's title policy.

A title search shows that a seller's former spouse may still hold a possible interest in the property. What is the usual instrument used to release that interest and clear the record?

• a.A quitclaim deed from the former spouse✓
• b.A general warranty deed from the former spouse
• c.A trustee's deed issued after a foreclosure
• d.A correction deed fixing the legal description

A quitclaim releases whatever interest the signer may hold, with no warranties attached, which makes it the standard tool for removing a cloud such as a possible marital interest, a stale easement claim, or a name discrepancy. Demanding a general warranty deed asks the former spouse to guarantee title he or she may never have owned, and it is normally refused. A trustee's deed is what the trustee under a deed of trust issues to the purchaser at a foreclosure sale. A correction deed reforms a mistake in an earlier deed between the same parties and cannot release an outsider's claim.

A court-appointed personal representative sells a decedent's home during probate, and the buyer's broker asks what instrument will convey title. The answer is:

• a.A trustee's deed given after a nonjudicial foreclosure
• b.A sheriff's deed issued following a judicial sale
• c.A general warranty deed with full title covenants
• d.An executor's or personal representative's deed✓

Estate property is conveyed by an executor's deed when a will names the executor, or by a personal representative's or administrator's deed when the court makes the appointment; these deeds recite the court authority and give only limited covenants. A trustee's deed comes from the trustee under a deed of trust after a nonjudicial foreclosure sale. A sheriff's deed, called a referee's deed in some states, follows a judicial sale ordered by a court. A general warranty deed is not used, because a fiduciary will not personally guarantee title against the acts of the decedent or of owners further back in the chain.

After closing under a general warranty deed, a buyer discovers a recorded utility easement that the deed never disclosed. Which covenant did the grantor breach?

• a.Quiet enjoyment, a promise against eviction by better title
• b.Seisin, a promise that the grantor owns the estate conveyed
• c.Against encumbrances, a promise of no undisclosed burdens✓
• d.Further assurance, a promise to sign curative papers

The covenant against encumbrances promises that no liens, easements, or similar burdens exist beyond those the deed discloses, so a recorded easement left unmentioned breaches it at the moment of delivery. Seisin promises the grantor actually owns the estate being conveyed, which is not the trouble when ownership is sound but burdened. Quiet enjoyment shields the grantee from later eviction by someone holding superior title, and an easement holder's use is not an eviction. Further assurance obliges the grantor to sign additional documents needed to perfect title. A general warranty deed carries all of these along with the right to convey and warranty forever.

A neighbor has openly farmed and fenced a strip of an absentee owner's land, excluding others and never asking permission. To take title by adverse possession the neighbor must prove:

• a.Payment of the owner's property taxes for every year
• b.Open, notorious, continuous, hostile, and exclusive possession✓
• c.A written agreement signed by the record title owner
• d.A recorded deed describing the disputed strip of land

Adverse possession requires possession that is open and notorious, continuous, hostile in the sense of being without permission, and exclusive, held for the statutory period set by state law. Some states add payment of taxes or color of title, but those elements are not universal, so a broker should never assume them from another state's rule. A written agreement from the record owner would destroy the claim outright, since permission defeats hostility. Recording a deed creates no possession and cannot manufacture the required years of use. Adverse possession is one form of involuntary alienation, alongside descent, escheat, foreclosure, eminent domain, and accretion.

An owner dies leaving no will, and after a diligent search no heirs can be located. A broker asked to list the property should understand that title:

• a.Passes by devise to the beneficiaries named in a will
• b.Descends to the decedent's nearest surviving creditors
• c.Vests permanently in the administrator the court appoints
• d.Escheats to the state, an involuntary transfer of title✓

Escheat is the state's claim to property when an owner dies intestate and no heirs can be found, and it is a classic involuntary transfer rather than a voluntary one by deed or will. Devise is a gift of real property by will, so it cannot operate where there is no will and no named beneficiary. Descent carries property to heirs under the intestacy statute, but creditors are paid as claimants out of the estate and never inherit the land itself. An administrator has authority to manage and convey estate property during probate, not to own it permanently. Each state sets its own escheat procedure and waiting period.

A search reveals an old mortgage of record that was paid off but never released, and the lender no longer exists. Which step clears that cloud so title is marketable?

• a.Ordering an abstract of title with an attorney's opinion
• b.Buying an owner's title policy that insures over it
• c.Filing a quiet title action asking a court to clear it✓
• d.Recording a correction deed signed by the current seller

A quiet title action asks a court to determine ownership and extinguish a stale or unreleasable claim, which is the practical cure when the mortgagee has vanished and no release can be obtained. An abstract of title with an attorney's opinion summarizes and evaluates the recorded chain; it reports the cloud rather than removing it, and it offers no indemnity. An owner's policy may insure over a known risk, but insurance pays for loss and leaves the defect on the record for the next buyer to confront. A correction deed fixes a drafting error between the original parties and cannot release a third party's lien.

A seller deeds a parcel to one buyer and later deeds the same parcel to a second buyer, who records first. Which framework decides who owns the land?

• a.A federal recording statute applied in all fifty states
• b.The state's recording act, race, notice, or race-notice✓
• c.The order in which the two deeds were signed and dated
• d.The county recorder's discretion over competing claims

Priority between competing grantees is governed by the recording act of the state where the land lies, and the schemes differ: a pure race state protects whoever records first, a notice state protects a later purchaser who took without notice of the earlier deed, and a race-notice state protects one who took without notice and recorded first. No federal statute governs land recording. Signing dates do not decide the contest, which is precisely why a public recording system exists. Recorders act ministerially and have no power to resolve claims. Because the gap between closing and recording is the danger zone, a broker should press for prompt recording.

A buyer pays for a lender's title policy at closing and asks the broker whether it also protects the buyer's equity in the home. The correct answer is that the policy:

• a.Protects both parties equally up to the full purchase price
• b.Protects the buyer once the mortgage has been fully repaid
• c.Protects the buyer against defects arising after closing
• d.Protects only the lender, declining with the balance✓

A lender's, or mortgagee's, policy insures only the lender's security interest, and its coverage shrinks as the principal is paid down, ending altogether when the loan is satisfied. It never covers the buyer's equity, which is why a separate owner's policy is offered at closing for a one-time premium and lasts as long as the insured holds an interest. Repaying the mortgage does not convert the lender's coverage into the buyer's; it extinguishes it. And no title policy insures defects that first arise after its date. Brokers should explain this plainly before a buyer waives owner's coverage to save money.

Six months after closing, a contractor the buyer hired records a mechanic's lien against the home. The buyer files a claim under the owner's title policy. The insurer will most likely:

• a.Deny, because the defect arose after the policy was issued✓
• b.Pay, because owner's policies cover all future liens
• c.Pay, because the standard exceptions were removed
• d.Deny, because only a lender may file a title claim

Title insurance looks backward: it covers defects that already existed when the policy was issued but were not discovered or excepted, not events that happen later. A lien for work the buyer ordered after closing is a new problem the buyer must resolve directly. Buying extended coverage removes standard exceptions and broadens what is insured as of the policy date, but it does not push coverage forward in time. Owners plainly may claim under their own policies; the lender's policy is the one limited to the lender. Extended coverage typically depends on a current survey, which reveals encroachments and boundary issues a records search alone cannot.

A buyer tours a house and finds an occupant who is not the seller living there under an unrecorded lease. What kind of notice does that occupancy give the buyer?

• a.Actual notice, given by the seller's written disclosure
• b.Constructive notice, given by the public record
• c.No notice at all, since the lease was not recorded
• d.Inquiry notice, requiring the buyer to ask about it✓

Someone in possession who is not the seller puts a buyer on inquiry notice: the buyer is charged with whatever a reasonable investigation of that occupancy would have turned up, including an unrecorded lease or an option to purchase. Actual notice is what a party genuinely knows, typically from a disclosure or a conversation, and no one has told this buyer anything. Constructive notice comes from the public record, which by definition cannot reveal an unrecorded lease. Treating an unrecorded interest as invisible is the classic error, because possession is itself notice. A broker should always ask who occupies a property and on what terms.

The Wyoming Real Estate Commission may contract with an independent hearing officer to hear a contested case. That hearing officer may not be:

• a.An attorney who is in private practice in Wyoming
• b.A person who has decided an earlier real estate case
• c.An employee of the Commission or attorney general✓
• d.Someone who lives in the county of the violation

W.S. 33-28-113(a) lets the Commission contract with independent hearing officers and then names the only disqualification: the hearing officer "shall not be an employee of the office of the attorney general, or an employee or member of the commission." The point is independence from the two bodies that build and prosecute the case. A Wyoming attorney in private practice is the ordinary profile for the job, not a bar to it. Nothing in the statute disqualifies someone who has heard a real estate case before; experience is not a conflict. And residence is irrelevant, because the statute limits venue for judicial review under W.S. 33-28-113(c), not who may preside.

For each separate offense by a licensee, the largest administrative fine the Wyoming Real Estate Commission may impose is:

• a.$1,000
• b.$2,500✓
• c.$5,000
• d.$10,000

W.S. 33-28-111(a) authorizes the Commission to "impose an administrative fine not to exceed two thousand five hundred dollars ($2,500.00) for each separate offense" alongside censure, probation, suspension, or revocation. The cap is per offense, so a course of conduct with several violations can total more than $2,500 even though no single count may exceed it. The $5,000 figure belongs elsewhere in the chapter: it is the criminal fine for a repeat unlicensed-practice conviction, or for a convicted entity, under W.S. 33-28-114(a). The $1,000 and $10,000 figures appear nowhere as a Commission fine; $10,000 is the recovery-account payment ceiling under W.S. 33-28-202(a). Note also that fines collected go to the public school fund of the county where the violation occurred, not to the Commission.

During a Commission investigation, a Wyoming responsible broker unreasonably refuses to produce transaction records he controls. That refusal:

• a.Must be tested by a court order before records are reached
• b.Is proper as to records that name a client of the firm
• c.Is excused once the transaction has already closed
• d.Is itself a separate ground for discipline under the Act✓

W.S. 33-28-111(a)(xii) makes "unreasonably failing to produce documents of record in his possession or under his control concerning any real estate transaction under investigation by the commission" a stand-alone ground for discipline, and W.S. 33-28-122(a)(iii) separately obliges every responsible broker to "permit the commission or its representative to examine the responsible broker's trust accounting records." No court order is needed, because the duty runs to the licensing agency under the Act rather than through civil discovery. Client identity is not a shield: the records the Commission examines are transaction and trust records, and the Act carries no privilege for them. Closing does not end the duty either, since W.S. 33-28-123 requires records to be kept for at least two years after the company last participated.

Before applying for a Wyoming responsible broker's license, an applicant must first have served actively as a salesperson or associate broker for:

• a.One of the two years immediately preceding the application
• b.Two of the four years immediately preceding the application✓
• c.Three of the five years immediately preceding the application
• d.Four of the six years immediately preceding the application

W.S. 33-28-106(c)(ii) requires each responsible broker applicant to "have first served actively for two (2) of the four (4) years immediately preceding the application as a real estate salesperson or associate broker." The same two-of-four test appears at W.S. 33-28-106(n)(ii) for associate brokers, except that an associate broker applicant may substitute a degree in real estate as defined in W.S. 33-28-102(b)(xiv). A responsible broker applicant has no degree substitute, so the experience itself is mandatory. The other spans are invented: the statute fixes both the amount of service and the window it must fall in, and no shorter or longer measuring period appears anywhere in the chapter.

Which of these people is engaged in activity that requires a Wyoming real estate license?

• a.An owner offering for sale a house she owns herself
• b.An attorney in fact under a recorded power of attorney
• c.Someone paid to collect another's rent✓
• d.A trustee in bankruptcy selling property under a court order

W.S. 33-28-102(b)(xlv)(F) makes it real estate activity when an individual, for another and for compensation, "collects, offers, attempts or agrees to collect rent for the use of real estate," and W.S. 33-28-101 bars unlicensed real estate activity. The other three are exempted by name in W.S. 33-28-103(a): an owner dealing with property she owns, an attorney in fact acting under a duly executed and recorded power of attorney, and a person acting as a trustee in bankruptcy or under a court order. Each of those exemptions is qualified by the same phrase, "unless that individual is a licensee," so an existing licensee cannot use them to step outside the Act.

A Wyoming real estate license is issued on a renewal cycle of:

• a.One year, expiring on the licensee's birthday
• b.Two years, expiring December 31 of the second year
• c.Three years, ending December 31✓
• d.Four years, expiring on the anniversary of issue

W.S. 33-28-118(a) provides that licenses "may be renewed for successive three (3) year periods," and Commission rules chapter 4, section 1(b) fixes the deadline at "on or before December 31 of the third year it is issued." An initial license runs only to the December 31 of the year it was issued; that first renewal starts the three-year cycle. Wyoming does not use a birthday-anniversary or issue-anniversary expiration, which is why the statutory grace period at W.S. 33-28-102(b)(xxii) is a fixed calendar window of January 1 to March 1 rather than a moving date tied to each licensee.

An active Wyoming responsible broker renewing a license must show continuing education for the three-year cycle totaling:

• a.45 hours
• b.53 hours✓
• c.60 hours
• d.72 hours

Commission rules chapter 4, section 1(c) requires responsible broker renewal applicants to show "fifty-three (53) hours of continuing education," broken out by section 8 into 32 hours of required education, which must include a broker management course, plus 21 hours of elective education. Associate brokers and salespersons take 45 hours under sections 1(d) and 9, which is why that figure is the tempting wrong answer at the broker tier. The 60-hour figure is the statutory ceiling on the Commission's rulemaking authority under W.S. 33-28-118(b), not the requirement itself. All hours must be earned during the three previous years.

A Wyoming license that has been on inactive status for more than three years may be returned to active status only after the licensee:

• a.Retakes both portions of the licensing examination
• b.Serves two more years under a responsible broker
• c.Pays a penalty equal to three renewal fees
• d.Meets the continuing education requirements first✓

W.S. 33-28-118(f) states that "a license on inactive status for more than three (3) years shall not be reissued on an active status unless the licensee has first met the educational requirements under subsection (b) of this section," that is, the continuing education the Commission sets by rule. Subsection (g) contrasts the shorter case: a license inactive for less than three years may go active on a renewal application and fee alone. Re-examination is reserved by W.S. 33-28-118(d) for a license that has actually expired past the grace period, which is a different failure. Nothing in the chapter imposes a fresh experience period or a multiple-fee penalty for reactivation.

A Wyoming salesperson advertises her own home for sale. The advertisement must state:

• a.That an owner is a licensee✓
• b.The rate she will pay a cooperating brokerage
• c.The price she originally paid for the property
• d.That the sale is exempt from the License Act

W.S. 33-28-119(h) provides that a licensee "shall not advertise the sale, purchase, exchange or lease of real estate owned by the licensee unless the advertisement includes the fact that an owner of the real estate is a licensee." The disclosure exists so the public knows it is dealing with someone who has professional knowledge of the market and of the paperwork. Commission rates are negotiable and never a required element of an advertisement. Purchase history is not required either, and the licensee's own price is not a market fact the Act compels. The last option inverts the law: the owner exemption in W.S. 33-28-103(a)(i) is expressly unavailable to a licensee.

A Wyoming salesperson's association with her firm ends. The License Act requires the Commission to be notified for cancellation of her license by:

• a.The departing salesperson, in writing within ten days
• b.The responsible broker, immediately on termination✓
• c.The new responsible broker at the time of transfer
• d.The county clerk where the brokerage keeps its office

W.S. 33-28-109(c) puts the duty on the supervising broker: "upon termination of an associate broker's or salesperson's association or contractual relationship, his responsible broker shall immediately notify the commission for cancellation of the associate broker's or salesperson's license." The same subsection gives the licensee a separate duty when she wants to change brokers, to notify the Commission promptly in writing and pay the fee, but that is the transfer step, not the cancellation step, and it carries no ten-day figure. Waiting for the receiving broker would leave a licensee in limbo, and the statute closes that gap by barring any association with a new responsible broker until a license has been issued for it. County clerks have no role in licensing.

A Wyoming responsible broker is personally representing the seller in an in-house transaction where the buyer's designated licensee is a salesperson. The responsible broker must immediately:

• a.Appoint a transaction manager for the transaction✓
• b.Convert both relationships to an intermediary status
• c.Refer the buyer to a competing real estate company
• d.Obtain written consent to act as a dual agent

W.S. 33-28-302(j) provides that if the responsible broker is representing a buyer or a seller in an in-house transaction, "the responsible broker shall immediately appoint a transaction manager unless the other licensee is an associate broker." A transaction manager is defined in W.S. 33-28-102(b)(lx) as a licensee designated in writing to supervise the transaction who is not involved in it and who has the duties of an intermediary. Forcing both sides into intermediary status is not required, because the same subsection says simultaneous designations do not constitute dual agency or compel an intermediary role. Sending the buyer away is not the remedy the statute chose. Dual agency cannot be consented to at all: W.S. 33-28-302(o) states flatly that a licensee shall not establish it.

A Wyoming salesperson closes a sale and the seller offers to hand her a bonus directly. Accepting it would be:

• a.Allowed if the responsible broker is told afterward
• b.Allowed if the amount appears on the closing statement
• c.Allowed because a seller may pay any party he chooses
• d.A ground for discipline under the Act✓

W.S. 33-28-111(a)(xvii) makes it a ground for discipline for an associate broker or salesperson to accept "compensation by an associate broker or salesperson from anyone other than his responsible broker." The rule routes all earned compensation through the supervising broker, which is also how W.S. 33-28-110(a) keeps unlicensed people out of the payment chain. Telling the broker afterward does not cure it, because the violation is in the direct receipt. Disclosure on the closing statement makes the payment visible but not lawful. And the seller's freedom to decide who is paid, recognized in W.S. 33-28-308(a), governs which party bears the cost, not which pocket a salesperson may take money from.

Under the Wyoming License Act, a licensee's "interest in a transaction" means an advantage, benefit, or profit other than:

• a.The agreed upon compensation✓
• b.A referral fee received from a lender
• c.A rebate paid to the licensee at closing
• d.An ownership share in the property sold

W.S. 33-28-102(b)(xxvii) defines "interest in a transaction" as "any advantage, benefit or profit, other than the agreed upon compensation, which may be realized by a licensee as the result of a purchase, sale or lease of real estate." The agreed compensation is carved out precisely because the parties already know about it. Everything else falls inside the definition and therefore inside the disclosure duty: a fee from a lender, a rebate at closing, and an ownership stake are each a benefit beyond the agreed pay. That matters because W.S. 33-28-111(a)(iii) makes "failing to disclose an interest in the transaction" a ground for discipline on its own.

Wyoming's License Act defines what is "material to the transaction." That definition expressly excludes:

• a.Environmental hazards the licensee actually knows of
• b.Psychological considerations✓
• c.Physical defects the licensee actually knows about
• d.Title defects that the licensee actually knows about

W.S. 33-28-102(b)(xxxii) defines the term as "having importance, relevance or consequence to a person making a decision" about a property, then adds that it "does not include psychological considerations including, but not limited to, health issues, suicide, murder or crimes which have occurred on the property." The other three sit at the center of what a licensee must disclose. W.S. 33-28-303(c) requires a seller's agent to disclose to any prospective buyer all adverse material facts actually known, and names title, physical condition, material defects, and environmental hazards as examples. The knowledge qualifier matters: W.S. 33-28-303(d) adds that a seller's agent owes no duty to inspect independently or to verify the seller's statements.

Wyoming law sets a minimum type size for the written relationship disclosure a licensee gives a buyer or seller. That size is:

• a.8 point
• b.10 point
• c.12 point✓
• d.14 point

W.S. 33-28-309 states in a single sentence that "any disclosure under W.S. 33-28-306 shall be in a font size of 12 point or greater." The legislature wrote a floor rather than a fixed size, so larger type complies and smaller type does not. The disclosure it governs is the written statement required by W.S. 33-28-306(a) before any discussion or arrangement incidental to a sale, purchase, exchange, or lease, describing every relationship the article allows and the duties owed under each. Type size is part of the requirement because the disclosure is meant to be read by a consumer, not buried, and because W.S. 33-28-306(a)(iii) separately calls for a conspicuous statement of what an agent owes that an intermediary does not.

Without the seller's informed consent, a Wyoming seller's agent may not tell a buyer that:

• a.The seller would take less than the asking price✓
• b.The roof leaks whenever there is a heavy rainfall
• c.The property has an easement across its north line
• d.Another offer on the property was made last week

W.S. 33-28-303(b)(i) bars a seller's agent from disclosing, without the seller's informed consent, "that a seller is willing to accept less than the asking price for the property." The same subsection protects the seller's motivation, willingness to change financing terms, and other material information about the seller. A leaking roof runs the other way: W.S. 33-28-303(c) requires the seller's agent to disclose to any prospective buyer all adverse material facts actually known, including physical condition and defects. A recorded easement is a title matter listed in the same sentence. And the existence of another offer is not one of the four protected categories, so it is handled by the seller's instructions rather than by a statutory bar.

A Wyoming licensee engaged as an intermediary:

• a.Owes each party the loyalty an agent owes a client
• b.Negotiates for whichever party first requests it
• c.Acts as an advocate for neither party to the deal✓
• d.Is a dual agent for the buyer and seller alike

W.S. 33-28-305(a) says an intermediary "shall not act as an advocate or agent for either party" and is limited to the services listed in subsection (b)(ii). Those services are real but non-partisan: present all offers, keep the parties informed, account for money, disclose adverse material facts, and advise the parties to get expert help. The loyalty and fidelity language belongs to agents under W.S. 33-28-303(a)(iii) and 33-28-304(a)(iii), and it is exactly what an intermediary does not supply. Negotiating for a party is ruled out by W.S. 33-28-305(b)(ii)(K), which requires the intermediary to tell the parties he is not allowed to negotiate on their behalf. And the intermediary is not a dual agent, because W.S. 33-28-302(o) prohibits dual agency outright.

A Wyoming buyer signs no written agreement with the licensee who is showing him homes, so he is a customer. That licensee owes him:

• a.A duty of confidentiality in all communications
• b.No duty of confidentiality✓
• c.The loyalty and fidelity owed to a principal
• d.The same fiduciary duties owed to a seller client

W.S. 33-28-302(p) is explicit: a customer relationship exists unless an agency or intermediary relationship is created in writing, and "a licensee shall not owe any duty of confidentiality to a customer." The written disclosure required by W.S. 33-28-306(a)(vii)(B) has to tell the consumer that plainly, that he will not be afforded any confidentiality in communications with the licensee. What the customer does get is set out in W.S. 33-28-310(a): reasonable skill and care, timely presentation of offers, accounting for money, being kept informed, and disclosure of adverse material facts. Loyalty, fidelity, and fiduciary duty are the agent's obligations under W.S. 33-28-303 and 33-28-304 and follow only from a written agency agreement.

A Wyoming buyer signs a written offer in the licensee's office. Commission rules require a copy of the signed offer to be delivered:

• a.At the same time the document is signed✓
• b.Once the seller has accepted the offer
• c.Within five business days of the closing
• d.After the responsible broker has reviewed it

Commission rules chapter 3, section 1(a) requires that when a responsible broker or a licensee acting on his behalf prepares an instrument, they "shall deliver a hard or electronic copy of the document contemporaneously with the signing of such document," and the same section adds that nothing permits withholding delivery in order to obtain other signatures or for any other reason. That last clause forecloses waiting for the seller's acceptance and waiting for the broker's review alike. The statute backs the rule from the other direction: W.S. 33-28-111(a)(xxi) makes failing to deliver a completed copy of any document to all parties within a reasonable time a ground for discipline. Delivery is a signing-time duty, not a closing-time one.

A Wyoming buyer offers a promissory note rather than cash as earnest money. The License Act allows the licensee to accept it only if the fact is:

• a.Approved in advance by the Wyoming Real Estate Commission
• b.Recorded with the county clerk before the offer is presented
• c.Reported to the responsible broker within one banking day
• d.Told to the owner before acceptance and put on the receipt✓

W.S. 33-28-111(a)(xxxi) makes it a ground for discipline to accept other than cash as earnest money unless two things happen together: "the fact is communicated to the owner prior to the owner's acceptance of the offer to purchase" and "the fact is shown in the earnest money receipt." Both conditions are required, and both run to the seller, who is deciding whether the offer is backed by anything. The Commission approves no individual offers. County recording has nothing to do with earnest money. And the one-banking-day figure is real but belongs to a different duty, the deposit deadline for financial instruments in W.S. 33-28-111(a)(xxvii); a promissory note in a cooperative transaction is held rather than deposited under W.S. 33-28-122(g).

Under the Wyoming License Act, every written listing agreement must contain:

• a.A definite expiration date for the agreement✓
• b.An automatic renewal clause of equal length
• c.A guaranteed minimum sale price for the seller
• d.A waiver of the seller's right to cancel it

W.S. 33-28-111(a)(xx) makes it a ground for discipline to fail to obtain written listing agreements that identify the property and contain all terms and conditions, "including the price or price range, the compensation to be paid, the signatures of all parties concerned and a definite expiration date." A definite end date is what keeps a listing from becoming an open-ended claim on the owner's property. An automatic renewal does the opposite and is not authorized anywhere in the chapter. A guaranteed minimum price would be a promise about market outcomes, and W.S. 33-28-111(a)(xix) separately forbids guaranteeing future profits on resale. A waiver of the right to cancel is not a required term and cannot be, since the statute is written to protect the consumer, not the brokerage.

A Wyoming licensee's errors and omissions coverage lapses in the middle of a renewal cycle. Under Commission rules the license is:

• a.Revoked, and the licensee must reapply as a new applicant
• b.Placed on inactive status✓
• c.Unaffected, because coverage matters only at renewal time
• d.Suspended for six months as a first-offense penalty

W.S. 33-28-401(a) requires all licensees to "obtain and maintain errors and omissions insurance coverage," and Commission rules chapter 7 supplies the consequence. Section 9 places a license on inactive status as of the date coverage terminates when the carrier reports nonpayment, and section 12 provides that the licensee may not conduct licensed activity until proof of insurance is filed and the license is activated. Inactive status is a status change, not revocation, and it ends when coverage is restored. Coverage is not a renewal-only formality, since section 3 requires proof at issuance, at renewal, and at activation. And nothing in the chapter attaches a fixed six-month suspension to a lapse.

The Wyoming License Act makes discipline available against a licensee who receives more than three censures from the Commission within a period of:

• a.Six months
• b.One year
• c.Two years✓
• d.Five years

W.S. 33-28-111(a)(xxxiii) lists "receiving more than three (3) censures from the commission within a two (2) year period" as a ground for censure, probation, suspension, or revocation in its own right. The provision treats a pattern as a separate offense: each censure has already been imposed for its own conduct, and the fourth inside two years opens the door to a heavier sanction. The other spans do not appear in the section. Note that the trigger is more than three, so a licensee with exactly three censures in two years has not met it, and that the counting window moves with the censures rather than resetting on a calendar year.

The Wyoming real estate recovery account pays a consumer only on a final judgment against a licensee for:

• a.Any breach of a listing or buyer brokerage agreement
• b.Ordinary negligence in preparing the transaction paperwork
• c.A commission dispute between two licensed brokers
• d.Fraud, willful misrepresentation, deceit, or conversion✓

W.S. 33-28-202(a) limits the account to a person who "obtains a final judgment in any court of competent jurisdiction against any licensee on the grounds of fraud, willful misrepresentation, deceit or conversion of trust funds arising directly out of any transaction which occurred when the licensee was licensed." The list is closed, and each entry describes deliberate wrongdoing rather than a mistake. That is why ordinary negligence does not reach the account, and why a plain contract breach does not either. A dispute between licensees over compensation is doubly excluded: it is not one of the listed grounds, and Commission rules chapter 6, section 3(a) says the Commission will not even entertain complaints between licensees about the earning or splitting of compensation.

The most the Wyoming real estate recovery account may pay on a single claim for actual damages is:

• a.$5,000
• b.$10,000✓
• c.$25,000
• d.$50,000

W.S. 33-28-202(a) allows a petition for an order directing payment out of the account "in the amount of actual damages included in the judgment and unpaid, and that a writ of execution has been returned unsatisfied, but for not more than ten thousand dollars ($10,000.00)." Only actual damages count, so interest, costs, and punitive awards do not lift the ceiling. The petition must be filed within one year of the termination of all proceedings, including appeals. The $50,000 figure is a different number in the same article: under W.S. 33-28-201(b) and 33-28-206(a) it is the account balance at which the funding fee stops being collected, not a payment limit. If claims on file exceed the money available, W.S. 33-28-202(b) prorates them.

After the Wyoming recovery account pays on a judgment against a licensee, that license stays suspended until repayment in full together with interest at:

• a.6% per annum
• b.10% per annum
• c.18% per annum✓
• d.25% per annum

W.S. 33-28-204 requires the Commission to "immediately suspend the judgment debtor's license" on making any payment from the account, and bars licensure or reinstatement "until he has repaid in full the amount paid from the real estate recovery account with interest thereon of eighteen percent (18%) per annum." The same section adds that repayment does not stop the Commission from proceeding separately under W.S. 33-28-111, and that a discharge in bankruptcy does not relieve the licensee of the disability. The 10% figure is the statutory redemption interest rate in W.S. 1-18-103(a), a different subject entirely. Note also that under W.S. 33-28-205 the Commission is subrogated to the judgment creditor's rights for whatever it paid.

Wyoming's platting statute applies when an owner subdivides a tract for suburban lots into at least:

• a.2 parts
• b.3 parts✓
• c.5 parts
• d.10 parts

W.S. 34-12-102 applies to every original owner or proprietor of a tract who "shall hereafter subdivide the same into three (3) or more parts" for laying out a town or city, an addition, or suburban lots. That owner must cause a plat to be made "with references to known or permanent monuments," accurately describing the subdivisions, numbering them progressively, and giving the dimensions of the lots and the breadth and courses of the streets and alleys. Splitting a parcel in two does not trigger the section. The statute also makes lot-and-block descriptions taken from the recorded plat good and valid for conveyancing and taxation, which is why plat references are the ordinary way Wyoming subdivision land is described.

When a Wyoming subdivision plat is acknowledged and recorded, the areas the plat sets apart for streets are:

• a.Conveyed as if by a deed in fee simple to the public✓
• b.Held by the subdivider subject to a public easement
• c.Retained by the lot owners as tenants in common
• d.Transferred to the county only after formal acceptance

W.S. 34-12-104 provides that "the acknowledgment and recording of such plat, is equivalent to a deed in fee simple of such portion of the premises platted as is on such plat set apart for streets, or other public use, or is thereon dedicated to charitable, religious or educational purposes." The recorded plat itself does the conveying, which is why the statute is worded as an equivalence to a deed rather than as a promise to convey later. Wyoming did not choose the easement model, so the subdivider is not left holding the fee. Neither do the lot buyers take the streets in common. And no separate act of acceptance is required to complete the transfer, though W.S. 34-12-103 does require the plat to be approved before it is recorded.

Under Wyoming's Residential Rental Property Act, the deposit balance and written itemization are due within 30 days after termination or, if that is not the later date:

• a.15 days after the renter gives a new mailing address✓
• b.10 days after the renter's last utility bill is paid
• c.45 days after the renter physically vacates the unit
• d.60 days after the rental agreement's stated end date

W.S. 1-21-1208(a) requires the balance of any deposit and prepaid rent, together with a written itemization of deductions and the reasons for them, to be delivered or mailed without interest "within thirty (30) days after termination of the rental agreement or within fifteen (15) days after receipt of the renter's new mailing address, whichever is later." The same subsection extends the period by another 30 days if there is damage to the unit, and it puts a matching duty on the renter to give the owner an address within 30 days of termination. The 10-day figure in the section is real but belongs to a separately identified utilities deposit under subsection (b). Failing to comply unreasonably lets the renter recover the full deposit and court costs.

Before starting a forcible entry and detainer action in Wyoming, the party must give the occupant written notice to leave at least:

• a.3 days in advance✓
• b.5 days in advance
• c.10 days in advance
• d.30 days in advance

W.S. 1-21-1003 requires the party who wants to bring a forcible entry or detainer action to notify the adverse party to leave the premises, and the notice "shall be served at least three (3) days before commencing the action, by leaving a written copy with the defendant or at his usual place of abode or business if he cannot be found." That three-day notice to quit is a precondition to filing, not the trial date. The summons itself is then served not less than three nor more than twelve days before trial under W.S. 1-21-1004. Do not confuse this with the 10-to-20-day window in W.S. 1-21-1203(d), which is the time an owner must allow a renter to find substitute housing when the owner terminates instead of repairing.

After a foreclosure sale of a Wyoming home that is not agricultural real estate, the owner's period to redeem is:

• a.Three months from the date of sale✓
• b.Six months from the date of sale
• c.Twelve months from the date of sale
• d.Eighteen months from the date of sale

W.S. 1-18-103(a) gives the owner three months from the date of sale to redeem property sold under an execution, a decree of foreclosure, or a foreclosure by advertisement and sale, by paying the purchase price with interest at ten percent per annum plus any taxes, assessments, and prior liens the purchaser paid. Subsection (b) sets the twelve-month period, but only for agricultural real estate, which subsection (c) defines as a parcel over eighty acres lying outside any incorporated city, town, or recorded subdivision, or property used substantially for agricultural purposes reaching eighty acres in aggregate. After the owner's period runs, W.S. 1-18-104(a) gives judgment creditors and lienholders thirty more days to redeem.

To foreclose a Wyoming mortgage by advertisement, the notice of sale must be published in a newspaper for:

• a.Two consecutive weeks, at least once a week
• b.Four consecutive weeks, at least once a week✓
• c.Six consecutive weeks, at least twice a week
• d.Ten consecutive days, on business days only

W.S. 34-4-104(a) requires notice that the mortgage will be foreclosed by sale to be given "by publishing the notice for four (4) consecutive weeks, at least once in each week, in a newspaper printed in the county where the premises" are situated, or in a paper of general circulation in the county if none is printed there. Publication is only part of the sequence. W.S. 34-4-103(a)(iv) first requires written notice of intent to foreclose, served by certified mail on the record owner and on any different occupant at least ten days before publication begins, and W.S. 34-4-104(a) requires a copy of the sale notice to be mailed to the owner, the occupant, and subordinate recorded lienholders before the first publication.

Wyoming's statute of frauds makes a lease of real estate void unless it is in writing and signed when the term is:

• a.A term of more than one year✓
• b.A term of more than two years
• c.A term of more than three years
• d.A term of any length at all

W.S. 1-23-105(a)(v) makes void, unless the agreement or some note or memorandum of it is in writing and subscribed by the party to be charged, "every agreement or contract for the sale of real estate, or the lease thereof, for more than one (1) year." A sale contract therefore needs writing regardless of duration, while a lease crosses into the statute only when its term runs past a year. A shorter tenancy can stand on an oral agreement, which is consistent with the Residential Rental Property Act's definition of a rental agreement at W.S. 1-21-1201(a)(ii) as any agreement "written or oral." Subsection (a)(i) catches a separate case, an agreement that by its terms cannot be performed within one year of the making.

Every broker's price opinion prepared in Wyoming must carry a statement that it:

• a.Was prepared using at least three closed comparables
• b.Is valid for ninety days from the date it was issued
• c.May be relied on by a lender making a mortgage loan
• d.Is an opinion of price and not a certified appraisal✓

W.S. 33-28-125(b) requires every printed or electronic broker's price opinion to include this statement: "This is an opinion of price and is not a certified appraisal of the market value of the property. If such an appraisal is desired, the service of a certified appraiser must be obtained." The wording is prescribed by the statute, so the licensee cannot paraphrase it away. The Act sets no minimum number of comparables and no expiration date for the opinion; W.S. 33-28-102(b)(lxii) simply describes it as an estimate that details a probable selling price with a varying level of detail. And the required statement points a reader who needs appraisal-grade value toward a certified appraiser rather than inviting reliance.