Wisconsin Real Estate Exam Topics: Complete Breakdown

Wisconsin Real Estate Exam Topics

The Wisconsin real estate salesperson exam contains 140 questions: 80 national and 60 state-specific, delivered by PSI. You have 4 hours total. A minimum of 75% is required on each section independently — 60 national and 45 state.

National Section Topics (80 Questions)

Standard national content covering all eight real estate domains:

• Property ownership — freehold estates, future interests, co-ownership, easements, encumbrances
• Land use controls — zoning, subdivision, eminent domain, condemnation, deed restrictions
• Valuation and appraisal — three approaches to value, cost, income, sales comparison
• Finance — loan types, amortization, points, secondary market, qualifying ratios
• Agency — general fiduciary duties, types, termination, disclosure
• Property disclosure — lead paint, environmental hazards, stigmatized property
• Contracts — offer and acceptance, contingencies, breach, remedies, listing agreements
• Transfer of title — deeds, title insurance, closing procedures, settlement statements
• Practice of real estate — advertising, antitrust, fair housing, professional conduct
• Real estate math — commissions, prorations, loan calculations, area, depreciation

State Section Topics (60 Questions)

Wisconsin's 60 state questions test Wis. Stat. Chapter 452, DSPS administrative rules (RL 24), and Wisconsin-specific practice:

Wisconsin WB Forms System - WB-11: Residential Offer to Purchase - WB-13: Vacant Land Offer to Purchase - WB-14: Residential Condominium Offer to Purchase - WB-15: Commercial Offer to Purchase - WB-25: Bill of Sale - WB-1: Residential Listing Contract - WB-5: Commercial Listing Contract - WB-36: Buyer Agency/Tenant Representation Agreement - Addenda: WB-40 (Amendment), WB-41 (Notice Relating to Offer), WB-44 (Counter Offer)

Agency in Wisconsin - Seller's agency, buyer's agency, dual agency, designated agency - Written buyer agency agreement requirement - Agency disclosure requirements and timing - Duties to clients vs. customers - In-house sale procedures

Real Estate Condition Report (Disclosure) - Required for residential property sales - Timing: provided before or with the offer to purchase - Content: structural, mechanical, water, environmental conditions - Wetland disclosure requirements - Mold disclosure (added in recent years) - Exempt transactions

Licensing and DSPS - Wisconsin Department of Safety and Professional Services (DSPS) oversight - Real Estate Examining Board: 5 members - 72-hour pre-license requirement - 18-hour CE renewal every 2 years - License categories: salesperson, broker - Supervision requirements

Transfer Fees and Taxes - Real Estate Transfer Fee: $0.30 per $100 of consideration - Exemptions from transfer fee (gifts, divorce, certain government transactions) - Annual property tax assessment process

Wetlands and Environmental - Wisconsin wetland regulations and disclosure - Shoreland zoning rules - Environmental contamination disclosure

Study Strategy

WB forms are the single highest-yield Wisconsin state topic — memorize form numbers and property types. Designated agency rules and written buyer agency requirements are the next most tested areas. Transfer fee calculations and Real Estate Condition Report requirements round out the top tier.