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					Wisconsin Real Estate
                    Content Outlines
   •   for examinations taken before        1, 2011

   •   for examinations taken on or after      1, 2011
                          Wisconsin CE Test-Out Content Outline
Reference: The Wisconsin examination content study materials for the continuing education test-out examination for 2007-2008 have been
prepared by the Department of Regulation and Licensing and are available on CD-ROM for $6.50. Candidates may obtain this reference material
by contacting the Department by mail, by phone, or online as detailed on page 1.



  I. Issues Relating to New Listings, Agency Agreements,                III. New Developments in the Profession,
     Legal Advice, Binding Contracts, and Defaults                           Including New Agency Law, Condominium Law,
      A. New Listings                                                        and Vacant Land Use and Development
         1. Type of Conveyance                                                A. New Agency Law
         2. Additional Due Diligence—seller questionnaires/                      1. New Disclosures—Clients
            lien search                                                          2. New Disclosures—Customers
      B. Agency Agreements                                                       3. Pre-Agency Services
         1. Short Sale Disclosure Requirements                                   4. De ning Subagency Relationships
         2. Short Sale Broker Commission                                         5. Designated Agency
         3. Regulation Z—Triggering Terms                                        6. Limited Service Brokers
         4. Regulation Z—Required Disclosure                                     7. Scope of Broker Liability for Employees
         5. Real Estate Signs                                                    8. Choice of Form of Representation
         6. Multiple Representation                                              9. Designated Agency—Number of Agents Required
     C. Legal Advice                                                          B. Condominium Law
         1. Boundary Disputes                                                    1. Executive Summary
     D. Binding Contracts                                                        2. Disclosure Materials/Rescission Rights
         1. Commission Payment—Terminated Listing                                3. Statutory Reserve Accounts
         2. Signature Authority—Listing Contract                             C. Vacant Land Use and Development
         3. Signature Entities—Purchase Contract                                 1. Zoning
      E. Defaults                                                                2. Conditional Uses
         1. Short Sale—Inability to Close                                        3. Variances
         2. Timing of Representations                                    IV. Issues Relating to Real Estate Professional Ethics
 II. Issues Relating to O er to Purchase,                                    and Fair Housing
     Buyer Agency, Con dentiality of O ers, Inspection,                       A. Disclosures—s. 452.133
     72 Hour Clause and Financing Issues                                         1. Material and Adverse Facts
      A. O er to Purchase                                                        2. Con dentiality Obligations
         1. Included/Excluded Property                                           3. Trust Fund Obligations
         2. Acceptance                                                           4. Fair Presentation of O ers
         3. Document/Notice Delivery                                             5. Fiduciary Obligation/Client Interest
         4. Occupancy Agreement                                                  6. Obligation to be Informed
         5. Rental Weatherization                                             B. Fair Dealing and Best Practices
         6. Condition of Premises at Closing                                     1. Authorization Issues on Interpretation and
         7. Enforceable Contingencies                                               Translation
      B. Buyer Agency                                                            2. Accessibility Issues with Clients and Disabilities
         1. Buyer Notices                                                    C. Fair Housing
     C. Con dentiality of O ers                                                  1. Renting to Persons with Disabilities
         1. Other O er Disclosures                                               2. Family Status
         2. Right of First Refusal Disclosure                                    3. Elderly Housing
     D. Inspection                                                               4. Citizenship Status
         1. Inspection vs. Testing                                               5. Companion Animals
         2. Lead Arsenate Issues [Lead and Arsenic (DATCP)]                      6. Accessibility Issues
      E. 72 Hour Clause                                                          7. Lawful Source of Income—Voucher
         1. Bump Clause
      F. Financing Issues
         1. Financing Commitment
         2. Good Funds at Closing



  Wisconsin Real Estate                                                                                                            page 18
                          Wisconsin CE Test-Out Content Outline
                                                 Effective Date: July 1, 2011
Excerpts from the Wisconsin Statutes and Administrative Code, and Department of Regulation and Licensing Approved Forms can be found here:
http://drl.wi.gov/profession.asp



  I. Listing Contracts
     30 questions
         Excerpts from the Wisconsin Statutes and
          Administrative Code
              WI Stat § 709
              WI Stat § 452.23 & 452.24
              WI Stat § 452.133 & 452.134
              WI Stat § 240
              RL 24
         Department of Regulation and Licensing Approved
          Forms
              WB-1 Residential Listing Contract

 II. Offer to Purchase
     30 questions
         Excerpts from the Wisconsin Statutes and
          Administrative Code
              RL 24.12
         Department of Regulation and Licensing Approved
          Forms
              WB-11 Residential Offer to Purchase
              WB-40 Amendment to Offer to Purchase
              WB-41 Notice Relating to Offer to Purchase

III. Business Ethics
     30 questions
         Excerpts from the Wisconsin Statutes and
          Administrative Code
              WI Stats § 788.015
              WI Stats § 802.12
              RL 24
              RL 2
         Other topics:
           National Association of REALTORS Code of
           Ethics (NAR)
                   NAR Ethics Code Preamble
                   NAR Ethics Code Article 11
                   NAR Ethics Code Article 12
                   NAR Ethics Code Article 17
           DRL Complaint Form: Form #102




  Wisconsin Real Estate                                                                                                           page 18

				
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