Lowa Real Estate Exam Prep Study Set |UPDATED| Correct Answers

Lowa Real Estate Exam Prep Study Set |UPDATED| Correct Answers In Iowa, who administers real estate license law? *Ans* Iowa Real Estate Commission The members of the Iowa Real Estate Commission are appointed by the *Ans* Governor, subject to senate approval The real estate commission has the authority to *Ans* Make and enforce the rules by which all real estate licensees must abide The Iowa Real Estate Commission may undertake an investigation of a licensee based on all of the following grounds EXPECT *Ans* A phone complaint from the public Which statement about the Iowa Real Estate Commission is true? *Ans* An independent testing company administers the examinations taken for real estate licensing The commission has the power to revoke a salesperson's license, if the salesperson *Ans* deposits a tenant's rental check in his or her own bank account and then writes a personal check to the landlord A housing discrimination charge based on a violation of the Iowa Civil Rights Act must be filed with the Iowa Civil Rights Commission within *Ans* 180 Days A licensee changes his or her personal residence. Which of the following is true? *Ans* The commission must be notified in writing of a change of residence or mailing address When the real estate commission sends a Notice of Hearing to a licensee, the notice includes all the following EXCEPT a *Ans* statement of the possible punishments If a person cannot find employment as a salesperson in a community, the commission has the authority to waive the experience requirement and allow the person to take the broker's exam after the candidate *Ans* completes a required broker pre-licensing education The Iowa Real Estate Commission can investigate a licensee for all of the following EXCEPT *Ans* Profession Competency Regarding errors and omissions insurance, which of the following statements is TRUE? *Ans* The real estate commission determines the minimum limited of coverage, deductibles, and permissible exceptions