INDIANA REAL ESTATE - EXAM QUESTIONS
Post-licensing education in Indiana may be completed by new brokers as one large
course, or a series of ______ courses. - Answers :5
Post-licensing education in Indiana may be completed by new brokers as one large
course, or a series of ______ courses. - Answers :Yes, commission-splitting among
persons licensed to perform real estate activities is permitted with seller authorization.
Commission-splitting between two licensed real estate professionals is permitted. The
listing agreement permits the seller's agent to share the compensation with other
brokers, such as the buyer's agent.
Bill was a real estate professional whose Indiana real estate license was revoked. He
wants to apply for a new license and does so after completing all the requirements for
licensure. The commission issues him a real estate license. At least how much time has
passed? - Answers :Seven years
A revoked license can't be reinstated, but the individual may reapply for licensure if at
least seven years have passed since the revocation.
If Dylan hadn't checked to make sure the zoning allowed his client to rent the mother-in-
law apartment, he may have been guilty of fraud, which would violate the professional
standards of conduct. Since he did check, he's in compliance with the standards.
At brokerage companies in Indiana, what is the managing broker's role? - Answers
:Oversee office procedures and ensure that all licensees at the firm adhere to the laws,
rules, and policies required of them.
Question 22
If the seller in a residential transaction submits an amended disclosure to the buyer, the
buyer has _____ to terminate the contract with return of the buyer's earnest money. -
Answers :Two business days
If the disclosure isn't provided until after offer acceptance, or if the seller makes an
amendment to a disclosure after offer acceptance, the buyer has two business days to
terminate the contract.
If an Indiana licensee lets his or her license expire, how long does the licensee have to
complete the renewal requirements before the licensee has to pay a penalty? - Answers
:3 years
Who is expected to sign the Seller's Residential Real Estate Sales Disclosure in
Indiana? - Answers :The seller and the buyer
Post-licensing education in Indiana may be completed by new brokers as one large
course, or a series of ______ courses. - Answers :5
Post-licensing education in Indiana may be completed by new brokers as one large
course, or a series of ______ courses. - Answers :Yes, commission-splitting among
persons licensed to perform real estate activities is permitted with seller authorization.
Commission-splitting between two licensed real estate professionals is permitted. The
listing agreement permits the seller's agent to share the compensation with other
brokers, such as the buyer's agent.
Bill was a real estate professional whose Indiana real estate license was revoked. He
wants to apply for a new license and does so after completing all the requirements for
licensure. The commission issues him a real estate license. At least how much time has
passed? - Answers :Seven years
A revoked license can't be reinstated, but the individual may reapply for licensure if at
least seven years have passed since the revocation.
If Dylan hadn't checked to make sure the zoning allowed his client to rent the mother-in-
law apartment, he may have been guilty of fraud, which would violate the professional
standards of conduct. Since he did check, he's in compliance with the standards.
At brokerage companies in Indiana, what is the managing broker's role? - Answers
:Oversee office procedures and ensure that all licensees at the firm adhere to the laws,
rules, and policies required of them.
Question 22
If the seller in a residential transaction submits an amended disclosure to the buyer, the
buyer has _____ to terminate the contract with return of the buyer's earnest money. -
Answers :Two business days
If the disclosure isn't provided until after offer acceptance, or if the seller makes an
amendment to a disclosure after offer acceptance, the buyer has two business days to
terminate the contract.
If an Indiana licensee lets his or her license expire, how long does the licensee have to
complete the renewal requirements before the licensee has to pay a penalty? - Answers
:3 years
Who is expected to sign the Seller's Residential Real Estate Sales Disclosure in
Indiana? - Answers :The seller and the buyer
