Idaho real estate school - Study guides, Class notes & Summaries

Idaho Real Estate School Module 2

Brokerage The business of bringing people together in a real estate transaction. Type of Real Property - Special Purpose Cemeteries Real Property Real estate, plus the interests, benefits, and rights inherent in the ownership of real estate Bundle of Rights Possession, control, enjoyment, exclusion, disposition Ownership of real property is often described as a bundle of legal rights Littoral Rights Granted to owners whose land borders commercially navigable waters Where is the...

Idaho Real Estate School (Module 1)

The primary purpose of the Idaho Real Estate Commision is to? Protect the public and industry The initial application for the real estate license is administered by? Idaho Real Estate Commission Where does the money come from to operate the Idaho Real Estate Commission? All Licensees The Idaho Real Estate Commission consists of how many member commissioners? 5 The Idaho Real Estate Commission generally meets? 6 to 8 times a year Course make-up work is allowed ONLY for? any pre-lic...

Idaho Real Estate School. MOD 1

Idaho Real Estate School (Module 1) Exam Test Questions With Revised Correct Answers Revised & Reviewed How many IREC core classes are required for a license renewal? - ANSWER 2 An independent E&O insurance policy must have an A.M. Best Rating of at least? - ANSWER B+ Licenses Renewal must be received no later than __________ of the expiration date at the Commissions office in Boise? - ANSWER 5 p.m. Mountain Time What is the Minimum pass rate score for t...

Idaho Real Estate School (Module 1) Exam Test Questions With Revised Correct Answers Revised & Reviewed 1) If a builder also has an active Idaho real estate license, what must they do when they sell their homes? A) disclose their licensee status on any purchase and sales agreement B) sign an agency representation agreement with their firm C) give themselves the blue agency disclosure brochure D) pay their firm a real estate commission for each closed sale - ANSWER ...

Idaho Real Estate School: MOD 1 (2023/2024) Graded A What is an example of commercial real estate? A) A power plant B) a 12 plex apartment complex C) a hotel D) public schools C) a hotel How many real estate commissioners are there and how long do they serve? A) 2 serving 4 year terms B) 4 serving 5 year terms C) 5 serving 4 year terms D) 8 serving 4 year terms C) 5 serving 4 year terms Which activity does not require real estate license? A) property management B) listing homes for sa...

Idaho Real Estate School. MOD 2

Idaho Real Estate School: MOD 2 (2023/2024) Rated A Appraisal Estimate or opinion of value based on the supportable evidence and approved methods. An appraiser is an independent person trained to provide an unbiased estimate of value. The appraisal value is the appraiser's opinion of that property's worth. Appraiser an independent person trained to provide an unbiased estimate of value. CMA (comparable market analysis) An analysis of probable value of real estate done by an individual other...