Wyoming Real Estate Salesperson Exam — All Questions

Regarding a known adverse material fact about a property, a Wyoming licensee must:

• a.Conceal it if the seller requests
• b.Disclose it only when acting as an agent, never as a customer's licensee
• c.Disclose the known adverse material fact and deal honestly with the parties✓
• d.Ignore it under caveat emptor

Whether acting as an agent or working with a customer, a Wyoming licensee must disclose known adverse material facts about a property and deal honestly with all parties. A licensee may not conceal or misrepresent a known defect even at the seller's request.

Earnest money a Wyoming salesperson receives from a buyer must be:

• a.Delivered promptly to the responsible broker for deposit in the brokerage trust account✓
• b.Held by the salesperson in a personal account until closing
• c.Sent to the Real Estate Commission for safekeeping
• d.Given directly to the seller when the offer is made

Client funds such as earnest money must be handled through the brokerage's trust account, which the responsible broker maintains and keeps separate from personal funds. A salesperson who receives money must deliver it promptly to the responsible broker. Commingling or converting client money is a serious violation of Wyoming license law.