Iowa Real Estate Exam Preparation Questions and 100% Correct Answers

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 must abide The Iowa Real Estate Commission may undertake an investigation of a licensee based on all of the following grounds EXPECT A phone complaint from the public Which statement about the Iowa Real Estate Commission is true? 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 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 180 Days A licensee changes his or her personal residence. Which of the following is true? 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 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 completes a required broker pre-licensing education The Iowa Real Estate Commission can investigate a licensee for all of the following EXCEPT Profession Competency Regarding errors and omissions insurance, which of the following statements is TRUE? The real estate commission determines the minimum limited of coverage, deductibles, and permissible exceptions