Wyoming Real Estate Salesperson Exam — All Questions

To qualify for a Wyoming salesperson license, an applicant must first:

• a.Already hold a responsible broker license
• b.Hold a four-year college degree in real estate
• c.Complete the Commission-approved pre-license education, then pass the licensing exam✓
• d.Work two years as an unlicensed assistant

Wyoming requires an applicant to complete the Commission-approved pre-license education, including the required fundamentals and practice coursework, and to pass the salesperson licensing examination. After passing and meeting eligibility requirements, the salesperson must associate with a responsible broker to activate the license.

An applicant for a Wyoming associate broker's license must show two of the four years immediately preceding the application spent actively as a salesperson, or instead show:

• a.five years of unlicensed experience in property management
• b.proof of a degree in real estate from an accredited college or university✓
• c.a broker's license held in a reciprocal state
• d.completion of 120 hours of approved coursework

The associate broker route accepts either the two-of-four-years experience or a real estate degree, evidenced by official college transcripts filed with the application. Cite: Wyo. Stat. §33-28-106(n)(ii); §33-28-102(b)(xiv) ("degree in real estate").

An applicant for a Wyoming responsible broker's license must have first served actively as a real estate salesperson or associate broker for:

• a.three of the five years immediately preceding the application
• b.one of the two years immediately preceding the application
• c.four consecutive years at any time before the application
• d.two of the four years immediately preceding the application✓

The responsible broker applicant must also have reached the age of majority and satisfy the commission as to honesty, truthfulness, integrity and competency. Cite: Wyo. Stat. §33-28-106(c)(i)-(iii).

Wyoming requires proof of errors and omissions insurance coverage from:

• a.applicants, renewing licensees, and licensees going active✓
• b.responsible brokers only, and then only at the time of original licensure
• c.every licensee, but only once every three renewal cycles
• d.licensees who have had a claim filed against them

Coverage may be obtained through the commission's group program or certified individually, and all licensees must obtain and maintain it. Cite: Wyo. Stat. §33-28-401(a)-(b).

Wyoming's errors and omissions insurance requirement does not apply for a year in which the commission cannot obtain group coverage at an annual premium not exceeding:

• a.$150 per licensee, with no inflation adjustment
• b.$500 per licensee, adjusted every three years
• c.$300 per licensee✓
• d.$1,000 per real estate company

The statutory ceiling is adjusted each year by the state's rate of inflation for the preceding twelve months as calculated by the department of administration and information, and the ceiling covers premium only, not the commission's administrative fee. Cite: Wyo. Stat. §33-28-401(d)-(e).

Wyoming real estate licenses are renewed for successive periods of:

• a.one year
• b.three years✓
• c.two years
• d.four years

The commission may set a grace period for renewal of no more than 60 days and a late renewal fee of no more than $75. Cite: Wyo. Stat. §33-28-118(a).

By statute, the continuing education the Wyoming commission may require by rule is capped at:

• a.60 hours per three-year period✓
• b.30 hours each year of the renewal period
• c.14 hours each year of the renewal period
• d.45 hours allocable over each two-year period

The statute sets only the ceiling; the actual hours are fixed by commission rule. Cite: Wyo. Stat. §33-28-118(b).

A Wyoming licensee whose license has expired and whose grace period has ended must, before a license will be reissued:

• a.pay the late renewal fee together with a reinstatement penalty set by the commission
• b.complete double the continuing education hours
• c.petition the commission for a hearing
• d.comply with all requirements of a new applicant, including the examination✓

Failure to submit a complete renewal application, proof of the required continuing education and the fees when due causes the license to expire automatically. Cite: Wyo. Stat. §33-28-118(c)-(d).

A Wyoming license that has been on inactive status for more than three years may not be reissued on active status unless the licensee has first:

• a.retaken the national portion of the examination
• b.obtained a new sponsoring responsible broker and a new company license
• c.completed the required continuing education✓
• d.paid three years of back renewal fees

A license inactive for less than three years may simply be renewed on active status with the renewal fee and application before the renewal deadline. Cite: Wyo. Stat. §33-28-118(f)-(g).

Before a Wyoming license is issued to a nonresident, the nonresident must file a written designation appointing:

• a.the director of the commission as agent for service of process✓
• b.the Wyoming attorney general as agent for service of process
• c.a Wyoming-resident responsible broker as agent for service of process
• d.the secretary of state as agent for service of process

Service on the designated agent equals personal service on the licensee, and the director then mails a copy by certified mail to the licensee's last known business address. Cite: Wyo. Stat. §33-28-110(f).

A Wyoming resident responsible broker may lawfully establish and hold licenses for:

• a.exactly one real estate company, with no exceptions
• b.any number of real estate companies that the broker is able to supervise adequately in person
• c.no more than five real estate companies statewide
• d.at least one but no more than three real estate companies or sole proprietorships✓

Each company or sole proprietorship must keep a fixed principal office in Wyoming, and the address of each office is designated on every license associated with it. A sole proprietorship does not need a separate company license. Cite: Wyo. Stat. §33-28-109(a).