Wyoming Real Estate Salesperson Exam — All Questions

Under Wyoming's brokerage-relationships law, until a written agency agreement is signed, a licensee working with a consumer is presumed to be:

• a.A dual agent for both parties
• b.Working with the consumer as a customer, not as the consumer's agent✓
• c.The consumer's fiduciary agent
• d.An attorney-in-fact for the consumer

Wyoming law presumes a licensee is working with a consumer as a customer, not as that consumer's agent, until a written agency agreement is signed. This distinctive rule is explained in the required written brokerage disclosure the licensee must give at the first reasonable opportunity.

In Wyoming, a licensee who assists both the buyer and the seller in a transaction without being the agent of either party is acting as:

• a.A designated agent
• b.An intermediary✓
• c.A subagent
• d.A dual agent

Wyoming recognizes the intermediary, who assists both parties in a transaction without being the agent of either. This differs from a dual agent, who represents both the buyer and the seller and may act only with the written consent of both parties, without disclosing one party's confidential information to the other.

A Wyoming licensee engaged as an intermediary must disclose to the parties that the intermediary:

• a.represents whichever party first signed with the brokerage
• b.owes no fiduciary duty to either party and may not negotiate on behalf of either one✓
• c.owes the same duties as a buyer's agent to both parties
• d.becomes a dual agent once both parties sign a consent

The required disclosure also tells the parties that the intermediary may have to reveal information learned about a property, and may be barred from revealing information about the other party that could materially affect negotiations. Cite: Wyo. Stat. §33-28-305(a), (b)(ii)(K).

A Wyoming intermediary may cooperate with other responsible brokers but:

• a.shall not show competing properties
• b.shall not accept compensation from the seller
• c.shall not engage any subagents✓
• d.shall not close the transaction

An intermediary may show alternative properties not owned by the seller, list competing properties, and show a buyer's properties of interest to other buyers without breaching any obligation. Cite: Wyo. Stat. §33-28-305(f)-(g).

Under Wyoming's broker relationships article, dual agency is:

• a.prohibited; a licensee shall not establish dual agency with any seller or buyer✓
• b.permitted with the written consent of both parties
• c.permitted only in commercial transactions
• d.permitted if a separate designated licensee serves each side

A licensee may serve as agent for the seller with the buyer as a customer, or as agent for the buyer with the seller as a customer, but not as agent for both. A licensee may be designated to act as an intermediary for both parties. Cite: Wyo. Stat. §33-28-302(k), (o).

In Wyoming, the relationship between a licensee and a party to a transaction is a customer relationship:

• a.unless the party pays some part of the licensee's compensation at closing
• b.until the party makes a written offer on a property
• c.only while the party remains unrepresented by any brokerage
• d.unless a written agreement establishes agency or intermediary status✓

The statute adds that a licensee owes no duty of confidentiality to a customer, and that when one party has a written listing agreement, another licensee may work with the other party as a customer. Cite: Wyo. Stat. §33-28-302(p).

Wyoming's written relationship disclosure must include a statement that a customer shall not:

• a.be shown property listed by the licensee's own company
• b.be given an estimate of closing costs before an offer
• c.be required to sign a written agency agreement to view or tour real estate during showings✓
• d.be asked for proof of financing before a showing

The 2026 amendment also broadened the definition of "customer" to include a person who has expressed an interest in buying, selling or leasing real estate or who attends a showing without any agency relationship. Cite: Wyo. Stat. §33-28-306(a)(vii); §33-28-102(b)(xiii), as amended by 2026 Wyo. Sess. Laws ch. 50 (SF0105, effective July 1, 2026).

Wyoming's relationship disclosure must be printed in a font size of:

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

The disclosure also needs a signature line for the buyer or seller to acknowledge receipt, and the acknowledgment by itself is not a contract with the licensee. Cite: Wyo. Stat. §33-28-309; §33-28-306(b).

In Wyoming, the fact that a party pays a responsible broker's compensation:

• a.establishes an agency relationship with the paying party
• b.makes the paying party vicariously liable for the broker's acts
• c.converts the relationship into an intermediary relationship by operation of law
• d.does not establish an agency or intermediary relationship with that party✓

Compensation may come from the seller, the buyer, a third party, or a split between responsible brokers, and a broker may be paid by more than one party where all have consented in writing before the parties contract to buy or sell. Cite: Wyo. Stat. §33-28-308(a)-(b), (g).

A Wyoming licensee acting as an agent in an in-house transaction may instead act as an intermediary to both parties when:

• a.both parties execute a written consent at the earliest opportunity✓
• b.the licensee's responsible broker approves the change in writing in advance of it
• c.the licensee gives oral notice to both parties
• d.the commission grants a written waiver

The written consent must contain a conspicuous statement of the duties and obligations that would no longer be owed once the licensee becomes an intermediary. Cite: Wyo. Stat. §33-28-307(a)(ii).

A Wyoming licensee may act as a subagent only under:

• a.an oral offer of subagency published through the multiple listing service
• b.the buyer's written consent to be treated as a customer
• c.a written seller agreement authorizing an offer of subagency✓
• d.a commission rule that presumes subagency in cooperative sales

A subagent then carries the same obligations and responsibilities the statute imposes on the seller's agent. Cite: Wyo. Stat. §33-28-302(c); §33-28-303(f)-(g).

A Wyoming responsible broker who is personally representing a buyer or seller in an in-house transaction must immediately appoint a transaction manager unless:

• a.the other licensee in the transaction is an associate broker✓
• b.the transaction involves unimproved land
• c.both parties waive supervision in writing
• d.the other licensee works from a different branch office

A transaction manager is designated in writing, is not involved in the transaction, and has the duties of an intermediary while supervising it. Simultaneous designations do not create dual agency. Cite: Wyo. Stat. §33-28-302(h)-(j); §33-28-102(b)(lx).