Iowa real estate exam - Study guides, Class notes & Summaries

IOWA REAL ESTATE EXAM PREP QUESTIONS WITH ANSWERS

The Iowa Real Estate Commission is a regulatory body made up of how many people? - 7 The Iowa Real Estate Commission mission is to protect who? - The public How many of the Iowa Real Estate Commission members must be licensed in Iowa? - 5 How many years does each of the five members must have as a minimum of real estate experience and the last two of which must have been in iowa? - 5 The other 2 members out of the total 7, must not be real estate licensees but still must be Iowa what? - re...

Corn stored in a grain bin is considered real property - 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 - 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. - False It is not necessary for a licensee to b...

In Iowa, who administers real estate license law? a. Iowa Real Estate Commission b. Attorney general's office c. Iowa Association of REALTORS d. Department of Housing and Urban Development (HUD) a. Iowa Real Estate Commission By legislative rule, the Iowa Real Estate Commission administers real estate license law. The attorney general's office handles the sale of out-of-state subdivided land but does not administer license law. The Iowa Association of REALTORS is a trade association whose...

Corn stored in a grain bin is considered real property 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 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. False It is not necessary for a licensee to be ...

Discrimination on the basis of any of the following could be constructed as violations of fair housing laws EXCEPT for discrimination based on a. Ethnic considerations b. Sexual considerations c. Economic considerations d. Religious considerations - C The amount of a loan expressed as a percentage of the value of the real estate offered as collateral is the a. Amortization ratio b. Loan to value ratio c. Debt to equity ratio d. Capital use ration - B A listing contract in which the br...

Iowa Real Estate Exam Questions with 100% Correct Answers | Updated 2024 | Guaranteed Success

Discrimination on the basis of any of the following could be constructed as violations of fair housing laws EXCEPT for discrimination based on a. Ethnic considerations b. Sexual considerations c. Economic considerations d. Religious considerations C The amount of a loan expressed as a percentage of the value of the real estate offered as collateral is the a. Amortization ratio b. Loan to value ratio c. Debt to equity ratio d. Capital use ration B A listing contract in which the br...

Iowa Real Estate Exam Prep actual update In Iowa, who administers real estate license law? Iowa Real Estate Commission The members of the Iowa Real Estate Commission are appointed by the Governor, subject to senate approval The real estate commission has the authority to Make and enforce the rules by which all real estate licensees must abide The Iowa Real Estate Commission may undertake an investigation of a licensee based on all of the following grounds EXPECT A phone complaint from ...

Iowa Real Estate Exam Verified Answers Two individuals form a partnership to open a real estate company. Which of the following is correct regarding licensing requirements? A. Both must licensed brokers B. At least one of them must be a broker C. If one is a broker, the other must be a sales person D. They can hire a licensed broker to run the company and neither needs a license ️B According to Iowa real estate license law, all of the following would be classified as engaging in ...