Wyoming Real Estate Exam Topics: Complete Breakdown

Wyoming Real Estate Exam Topics

The Wyoming real estate salesperson exam contains 120 questions: 80 national and 40 state-specific, delivered by PSI. You have 4 hours total. A minimum of 70% is required on each section independently — 56 national and 28 state.

National Section Topics (80 Questions)

Standard national content covering all eight real estate domains:

• Property ownership — freehold and leasehold estates, co-ownership types, easements and encumbrances
• Land use controls — zoning, eminent domain, subdivision regulations, deed restrictions
• Valuation and appraisal — three approaches, appraisal process, market value vs. market price
• Finance — mortgage and deed of trust, loan types, secondary market, amortization
• Agency — fiduciary duties, types of agency, termination, disclosure
• Property disclosure — material defects, lead-based paint, environmental conditions
• Contracts — offer and acceptance, consideration, contingencies, breach
• Transfer of title — deed types, title examination, title insurance, closing costs
• Practice of real estate — advertising, antitrust, fair housing, professional standards
• Math — commissions, prorations, loan calculations, area, depreciation

State Section Topics (40 Questions)

Wyoming's 40 state questions test WS Title 33, Chapter 28, WREC regulations, and Wyoming-specific property law:

Wyoming Real Estate Commission (WREC) - 5-member commission, members appointed by governor - Administers licensing under WS Title 33, Chapter 28 - Salesperson license requirements (54-hour pre-license) - Broker license requirements (active as salesperson for 2 years minimum) - 21-hour CE requirement every 2-year renewal cycle - Discipline procedures and grounds for license revocation

Mineral Rights in Wyoming - Severance of mineral rights from surface rights - Types of mineral interests: oil, gas, coal, hard rock minerals, coal bed methane - Mineral leases and royalties - Surface owner protections under Wyoming Surface Owner Protection Act - Disclosure of severed mineral interests - How mineral rights affect property value and financing

Water Rights in Wyoming - Prior appropriation doctrine ("first in time, first in right") - Water rights as a separate property interest - Wyoming State Engineer's Office administration - Adjudicated water rights: priority dates and diversion rights - Irrigation rights attached to agricultural property - Water rights transfers: separate from land or with land - Importance to ranch and agricultural property value

Federal Land Issues - Bureau of Land Management (BLM) land administration in Wyoming - National Forest, National Park land impact on adjacent private parcels - Landlocked private parcels and access issues - Grazing leases on BLM land - Federal mineral leases vs. private mineral rights - Split estate (federal minerals, private surface)

Land Descriptions - Rectangular survey system (township, range, section) - Section = 640 acres; Township = 36 sections - 6th Principal Meridian used in Wyoming - Legal description parsing and acreage calculations - Metes and bounds in older WY descriptions

Deeds and Title - Warranty deed, special warranty deed, quitclaim deed - Deed of trust structure in Wyoming - Non-judicial foreclosure under Wyoming law

Transfer and Taxation - No state real estate transfer tax - No state income tax - Annual property tax assessment

Study Priority

Mineral rights, water rights prior appropriation, and federal land access issues are the three most distinctly Wyoming topics. These are entirely absent from national prep courses and account for the largest share of missed state questions.