Wisconsin License Law
Wisconsin's Real Estate Examining Board (REEB) meets regularly to:
ASet mortgage interest rates
BReview disciplinary cases, approve CE courses, and oversee licensing standards✓ Correct
CApprove all real estate transactions
DSet property tax rates
Explanation
The REEB meets regularly to handle disciplinary proceedings against licensees, review and approve continuing education courses, set licensing standards, and address policy matters.
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Key Terms to Know
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.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
Math Concepts
State-Specific Concepts
Continuing EducationDRE Regulation
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