Wisconsin Real Estate License Property Laws & Regulations 5

Question 1

Under the federal and Wisconsin Fair Housing laws, which of the following is a protected class beyond the federal minimums that Wisconsin adds?

Accepted Answer

Lawful source of income

Answer

Wisconsin's Open Housing Law adds protected classes such as lawful source of income beyond the federal Fair Housing Act.

Question 2

In Wisconsin, a landlord must return a tenant's security deposit within how many days after the tenant vacates?

Accepted Answer

21 days

Answer

Wisconsin law requires landlords to return the security deposit, minus lawful deductions, within 21 days of the tenant moving out.

Question 3

Which Wisconsin disclosure is required when selling a home built before 1978?

Accepted Answer

Lead-based paint disclosure

Answer

Federal law, applicable in Wisconsin, requires lead-based paint disclosure for homes built before 1978.

Question 4

A Wisconsin real estate licensee who represents both the buyer and seller in the same transaction is acting as a:

Accepted Answer

Dual agent

Answer

A licensee representing both parties is a dual agent and must have written consent from both buyer and seller in Wisconsin.

Question 5

Wisconsin homestead protection primarily shields a portion of a homeowner's equity from:

Accepted Answer

Certain creditors' claims

Answer

The Wisconsin homestead exemption protects a set amount of home equity from most unsecured creditors.

Wisconsin Real Estate License Practice Test