Exam (elaborations)
Idaho Real Estate Module 1 B Questions and Answers 2024
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Idaho Real Estate Module 1 B
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Idaho Real Estate Module 1 BWhat is the purpose of the Idaho Real Estate Commission (IREC) - answerTo protect
the public and industry.
Who administers the initial application for a real estate license? - answerIDaho Real
Estate Commission (IREC)
Where does the money come from to operate the Idaho Real Estate Commission? -
answerAll licensees
How many commissioners make up the Idaho Real Estate Commission? - answer5
How often does the Idaho Real Estate Commission meet? - answer6 to 8 times a year
Course make-up work is allowed only for: - answerAny pre-license courses
Pre-license courses must be successfully completed prior to license application within: -
answer3 years
Change of personal information must be submitted to the IREC no later than: -
answer10 days
How many IREC core classes are required for license renewal - answerTwo
An independent E&O insurance policy must have an A.M. best rating of at least: -
answerB+
Within how many days must a license renewal be received at the commission office in
Boise? - answerNo later than 5 P.M. Mountain Time of the expiration date
What is the minimum pass rate score for a broker taking the Idaho state exam? -
answer75%
What is the minimum pass rate score for a sales person taking the Idaho state exam? -
answer70%
Who is required to have a real estate license to practice real estate? - answerAnyone,
with exception of compensation, while acting for another, offers to list property for sale.
, And example of an exception to being required to have a real estate license is: -
answerOffering property management or leasing for another compensation.
What's the minimum age to secure a real estate license in Idaho? - answer18
What are the minimum elective hours for continuing education required to renew a real
estate license? - answer12 hours plus 2 Core
When does a real estate license expire? - answerThe last day of licensees birth month
A student whose birthday is June 5 past their state exam on April 8, and applied and
received their license on April 18, 2018. When does their license expire? - answerJune
30, 2019
When do initial fingerprints expire prior to receiving a real estate license? -
answerFingerprint results are valid for six months
What type of insurance is required for an in active real estate licensee? - answerNone
To be effective, tail coverage for E&Oinsurance must be purchased within how many
days from cancellation? - answer90 days from cancellation
What document needs to accompany an application for a real estate license? -
answerHi school diploma or equivalency
A cooperative license applies to: - answerCommercial properties
An agent unconditionally gave his buyer a new riding lawnmower after a transaction
closed as a "thank you ". This activity is? - answerOK
What is the maximum fine for an unlicensed person practicing real estate? -
answer$5000
What is the maximum fine for an unlicensed LLC practicing real estate? -
answer$10,000
An active license he buying or selling their own property must conduct all transactions
through: - answerThe broker with whom licensed
If a licensee terminate with a broker, what is required? - answerLicensee must notify
them in writing no later than three business days of the effective date.
If a broker terminates an agent for cause, the broker must notify the Idaho Real Estate
Commission within: - answer10 business days from termination
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