Ethics & Professional Practices Flashcards
7 cards from real Wisconsin Real Estate License practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Ethics & Professional Practices flashcards as text
A Wisconsin licensee is representing a seller but personally wants to buy the property. What must occur?
Answer: Written disclosure of the licensee's status and interest to the seller
A licensee buying a client's property must disclose their licensee status and personal interest in writing.
Which practice violates Wisconsin advertising rules for licensees?
Answer: Advertising a property under the salesperson's name only without the broker
Advertising must include the employing broker's firm name; a salesperson cannot advertise independently.
A licensee fails to present a low offer because they assume the seller will reject it. This violates the duty of:
Answer: Loyalty and to present all offers
Licensees must present all written offers to the client and cannot decide for them.
Blockbusting under fair housing law involves:
Answer: Inducing owners to sell by claiming a protected group is moving in
Blockbusting is inducing panic selling by suggesting that protected-class members are entering a neighborhood.
A Wisconsin broker's trust account is found to have less money than owed to clients. This is:
Answer: A trust account shortage violation
A shortage of client funds in a trust account is a serious violation of license law.
If a licensee is unsure whether a fact is 'material' and must be disclosed, the safest ethical approach is to:
Answer: Err toward disclosure or seek guidance
When uncertain, licensees should err on the side of disclosure or consult legal counsel.
Continuing education for Wisconsin licensees is required primarily to:
Answer: Maintain competence and license renewal
Continuing education keeps licensees current on law and practice and is required for renewal.