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Iowa Real Estate Exam Prep Questions with Correct Answers
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Iowa Real Estate Exam Prep Questions with Correct Answers Corn stored in a grain bin is considered real property - ANSWER-False Kitchen cabinets, a furnace, or bathroom appliances are considered real property after they have been installed as improvements to the home, even though at one time th...

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  • November 4, 2024
  • 24
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • iowa real estate exam prep questions with correct

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  • Real Estate
  • Real Estate

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KaylinHoffman

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Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024




Iowa Real Estate Exam Prep Questions

with Correct Answers


Corn stored in a grain bin is considered real property - ANSWER✔✔-False


Kitchen cabinets, a furnace, or bathroom appliances are considered real property after they have been

installed as improvements to the home, even though at one time they were personal property -

ANSWER✔✔-True


A dishwasher installed in the cabinets does not need to be excluded from the listing if the owner is

planning on taking the washer with them. It can be excluded on the sales agreement. - ANSWER✔✔-

False


It is not necessary for a licensee to be under the control of a real estate broker - ANSWER✔✔-False


A water well pump would be considered personal property and could be taken with the seller -

ANSWER✔✔-False


The sudden replacement of land by a landslide is called Avulsion - ANSWER✔✔-True


Riparian water rights are the right enjoyed by landowners located next to lakes - ANSWER✔✔-False


Appointees to the Iowa Real Estate Commission must be approved by the Iowa Senate - ANSWER✔✔-

True


Littoral rights are rights enjoyed by landowners located next to rivers and streams - ANSWER✔✔-False


Real property is divided into two categories; Physical and economic - ANSWER✔✔-True

Copyright ©Stuvia International BV 2010-2024 Page 1/24

,Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024


Landowners can sell air rights or subsurface rights and retain the surface rights - ANSWER✔✔-True


A term that has been given to expanding exposure is "Farming." Some good examples of "Farming" are

as followed: - ANSWER✔✔-1.) Door knocking in local neighborhood


2.)putting business cards on local business bulletin boards


3.)Joining breakfast clubs, service clubs and other casual organizations


The bundle of rights that accompanies real property ownership include 5 rights - ANSWER✔✔-True


The owner of land also owns the rights to the subsurface and the air rights above the land -

ANSWER✔✔-True


All licensees have the right to call themselves REALTORS - ANSWER✔✔-False


What REALTOR associations must you belong to have the ability to call yourself a REALTOR? -

ANSWER✔✔-The local, state and national association


Is it possible for a licensee to belong to more than one MLS - ANSWER✔✔-Yes


No special insurance is necessary for real estate licensees to conduct business in Iowa - ANSWER✔✔-

False


A growing corn crop is considered part of the land - ANSWER✔✔-True


A salesperson must take additional required courses before a brokers license can be obtained -

ANSWER✔✔-True


You need a special real estate license to manage an apartment house - ANSWER✔✔-False


ARELLO stands for Association of Real Estate License Law Officials - ANSWER✔✔-True


Copyright ©Stuvia International BV 2010-2024 Page 2/24

, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024


A broker may opt out of IDX and still display the listings of other companies on his website -

ANSWER✔✔-False


A commission is earned when the agent produces a ready, willing, and able buyer - ANSWER✔✔-True


A commission may still be earned even though a seller and a buyer get together and decide to cancel the

deal - ANSWER✔✔-True


A commission may still be earned even though the seller was unable to deliver possession in a

reasonable time - ANSWER✔✔-True


A company can require you to buy from them if they sell your house - ANSWER✔✔-False


A contract may not be denied legal effect or enforceability solely because an electronic record was used

in its formation. - ANSWER✔✔-True


A licensed assistant is paid by the broker - ANSWER✔✔-True


A licensee employing an assistant can pay that assistant a percentage of their earned commissions -

ANSWER✔✔-False


A personal assistant is permitted to submit data on listings to a MLS - ANSWER✔✔-True


A real estate agent is required to check the Do-Not-Call registry every 31 days to have any defense of a

violation - ANSWER✔✔-True


A real estate company must have a physical office in Iowa to meet the minimum services requirements

of the law - ANSWER✔✔-False


A salesperson is allowed to contact a person on the Do-Not-Call list if he has had a business inquiry from

that person in the past 3 months - ANSWER✔✔-True

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