Wisconsin License Law
A Wisconsin licensee who wants to refer a buyer to a mortgage lender in exchange for a referral fee must:
ADisclose the referral fee and comply with RESPA's anti-kickback provisions✓ Correct
BObtain a separate mortgage broker license
CRegister the arrangement with DSPS
DAccept only cash referral fees to avoid RESPA issues
Explanation
RESPA (Section 8) prohibits undisclosed referral fees between settlement service providers. Any referral arrangement must be disclosed to the consumer, and certain kickbacks are prohibited regardless of disclosure.
Related Wisconsin Wisconsin License Law Questions
- In Wisconsin, the Real Estate Condition Report (Seller's Disclosure) must be provided to buyers:
- Under Wisconsin law, a real estate broker's license may be issued to a:
- The Wisconsin real estate license renewal period is:
- Wisconsin requires that a salesperson's license be displayed or available at:
- Under Wisconsin law, a real estate licensee who wishes to place a 'For Sale' sign on a listed property must:
- Wisconsin real estate licenses are renewed every:
- How many continuing education credits must a Wisconsin licensee complete each renewal period?
- Commingling in Wisconsin real estate means:
Practice More Wisconsin Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wisconsin Quiz →