Exam (elaborations)
Real Estate Idaho (Module 1) Questions with correct Answers
- Course
- Institution
Real Estate Idaho (Module 1)
[Show more]
Content preview
Real Estate Idaho (Module 1)Acting in the capacity of a broker or ____________ requires a license - answer
Salesperson
Failure to keep adequate _______________ is an IREC violation - answer Records
The REALTORS is this type of Association - answer Trade
This amount of CE elective credit hours are required every license cycle - answer
Twelve
The business of bringing parties together in a real estate deal - answer Broker
Some ____________ in your personal circumstance must be reported to the IREC
within 10 days - answer Changes
This type of contract is illegal - answer Double
This type of account in the broker's office is subject to audit by the IREC - answer Trust
IREC can deny a license to anyone convicted of this - answer Felony
This happens to your license if the Recovery Fund pays out for you - answer
Suspension
Your Insurance carrier must issue a ______________ of coverage for your files -
answerCertificate
The code of Ethics is administered by this group - answerNAR
This type of license requires CE credit to renew - answerActive
This County official determines market values - answerAssessor
This pre-license course is good for how many years - answerThree
An example of commercial real estate - answerHotel
How many real estate commissioners are there, and how long do they serve - answer4
serving 4 year terms
, Which activity does not require a real estate license - answerProperty management
What is the penalty for brokering a real estate deal without a license - answerUp to
$5,000 and/or a year in jail
Which activity would the real estate recovery fund NOT pay out - answerDishonorable
dealings
What are the liability limits of the real estate recovery fund - answer$10,000 per year,
per license
What is true of a licensee if the real estate recovery fund pays out for them -
answerTheir license is suspended until the judgment is repaid
How long is your pre-license course certificate good for - answer3 years
How long is your passing state exam certificate good for - answer1 year
How long is the fingerprint background check good for - answer6 months
What are Continuing Education (CE) minimum requirements - answer12 elective hours
plus the 2 core courses every 2 years
What is required in all advertisements for listed properties - answerBrokerage company
name
What is true about Broker's commission policies - answerThey can set a minimum
commission the firm charges buyers and sellers
Violation of Anti-Trust laws (3) - answerPrice fixing, allocation of customers and
markets, and group boycotting
Who are the only 2 unlicensed parties you may share any part of your commissions with
- answerThe buyer and the seller to the transaction
If you leave a firm to wok for another you must - answerTurn in all property to your
former broker within 3 days
All of your listings belong to who - answerYour broker
6 requirements to obtain an Idaho Salesperson license - answer1. Fingerprinting
2. Education (High School Equivalent)
3. Real estate education
4. License Exam (70%...good for 1 year)
5. Errors and Omissions Insurance
6. License application form
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller julianah420. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67096 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now