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Idaho - State Exam Practice Questions and Answers Fully Solved
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Idaho - State Exam Practice
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Idaho - State Exam PracticeWhich of the following mistakes relates to required elements in an Idaho offer to
purchase? - answer Incorrect acknowledgement of representation type
In Idaho, a married couple must meet what recording requirement to sell their
community real property? - answer Both spouses must be in agreement during the
recording act.
Why did the Idaho Legislature pass the Consumer Foreclosure Protection Act? -
answerTo prevent homeowners in foreclosure from being taken advantage of
In Idaho, what continuing education requirements need to be met if you're on inactive
status and decide to reactive your license? - answerTwo commission core classes and
12 hours
What license status do you need to be under in order to perform real estate services in
Idaho? - answerActive
Since Idaho is a title theory state and lenders tend to use deeds of trust, what type of
foreclosure is typically used? - answerNon-judicial foreclosure
Idaho Falls licensee Ken's listing is already under contract, but then they receive a gem
of an offer. The seller wants to cancel the first contract to accept this better offer. What's
Ken's best course of action? - answerAdvise the seller in writing to seek legal counsel
In Idaho, who's required to sign an addendum for it to become part of the contract? -
answerBoth parties to the transaction
The Idaho Real Estate Commission consists of _______. - answerFive members
What's required if a third party is to hold trust funds instead of the broker? - answerThe
arrangement must be documented in writing.
Which Idaho state agency or department handles properties that are subject to the
power of escheat? - answerIdaho State Treasurer's Office
Which of the following security instruments is used most in Idaho real estate lending? -
answerDeed of trust
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