Iowa Real Estate Salesperson Q&A Exam Bundle

In Iowa, who administers real estate license law? a. Iowa Real Estate Commission b. Attorney general's office c. Iowa Association of REALTORS d. Department of Housing and Urban Development (HUD) a. Iowa Real Estate Commission By legislative rule, the Iowa Real Estate Commission administers rea...

What is the purpose of the Iowa Real Estate Commission TO protect the public through education and licensing give 3 "confidential information" examples anything that would put a client at an unfair advantage; their strategy, motivation, and finances what do you need to obtain a broker's lic...

When can a listing agent legally refuse to show a property that is for sale to a minority buyer? When the Seller goes out of town and asks that the property not be shown while she is gone. A township contains: 36 Square miles Title to real estate is alienated by: Conveying title As used in ...

Two individuals form a partnership to open a real estate company. Which of the following is correct regarding licensing requirements? A. Both must be licensed brokers. B. At least one of them must be a licensed broker. C. If one is a licensed broker, the other must be a salesperson. D. They...

Is corn stored in a grain bin, real or personal property? Personal T or F? Kitchen Cabinets are considered real property after they are installed as improvements to the home, even though at one time they were personal property. True T or F? A dishwasher installed in the cabinets does not need ...

In Iowa, who administers real estate license law? Iowa Real Estate Commission The members of the Iowa Real Estate Commission are appointed by the Governor, subject to senate approval The real estate commission has the authority to Make and enforce the rules by which all real estate licensees m...

Two Individuals form a partnership to open a real estate company. Which of the following is correct regarding licensing requirements? At least one of them must be a broker. According to Iowa real estate license law, all of the following would be classified as engaging in the practice of real esta...

Who can you not accept referral kickbacks from? A bank Can you get referral fees from anybody else? yes, as long as you disclose it. Can you pay someone for referrals to you? NO. Against the law. No dollar amount. Can you donate money in someone else's name to a charity from your commissio...

What are activities such as responding to telephone inquiries, fielding questions, and setting appointments on the phone considered? Ministerial acts A man died, and his estate was distributed according to his will as follows: 54 percent to his spouse, 18 percent to his children, 16 percent to hi...

All of the following must be disclosed on the Groundwater Hazard Statement EXCEPT: a. Radon b. Underground storage tanks c. Private burial grounds d. Hazardous materials A What is the penally, if any, to review a license between January 1-January 30? a. $6.00 b. $25.00 c. $250.00 d. The l...

Discrimination on the basis of any of the following could be constructed as violations of fair housing laws EXCEPT for discrimination based on a. Ethnic considerations b. Sexual considerations c. Economic considerations d. Religious considerations C The amount of a loan expressed as a percent...

Fee Simple Absolute title has limitations. What are they? All of the above A couple decided to sell their acreage which they had owned for 10 years. After being told they would have to have their septic tank inspected they proceeded with the inspection. The inspection report revealed that the sep...

The Iowa Real Estate Commission is a regulatory body made up of how many people? 7 The Iowa Real Estate Commission mission is to protect who? The public How many of the The Iowa Real Estate Commission members must be licensed in Iowa? 5 How many years does each of the five members must have...

What is the largest real estate organization? "NAR"- National Association of Realtors What are members of NAR called? Realtor Associates What is the difference between the word broker and the word realtor? Broker=Real Estate Licensee Realtor=Real Estate Licensee who is a member of NAR R...