Wisconsin License Law
Under Wis. Stat. § 452.14, the Wisconsin Real Estate Examining Board (REEB) has authority to:
ASet mortgage interest rates
BDiscipline licensees for misconduct✓ Correct
CApprove all WB forms
DAdminister the transfer tax
Explanation
The Real Estate Examining Board (REEB), operating within DSPS, has authority to discipline licensees, including suspension, revocation, or fines for misconduct.
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Key Terms to Know
Transfer Tax
A tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Discount PointsPrepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
Math Concepts
State-Specific Concepts
Transfer Tax
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