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Idaho Real Estate School (Module 1) Questions and Answers Fully Solved
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Idaho Real Estate School (Module 1)
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Idaho Real Estate School (Module 1)The primary purpose of the Idaho Real Estate Commission is to? - answer Protect the
public and industry
The initial application for the real estate license is administered by? - answer Idaho Real
Estate Commission
Where does the money come from to operate the Idaho Real Estate Commission? -
answer All Licensees
The Idaho Real Estate Commission consists of how many member commissioners? -
answer5
The Idaho Real Estate Commission generally meets? - answer6 to 8 times a year
Course make-up work is allowed ONLY for? - answer any pre-licensee courses
Pre-license courses must be successfully completed prior to license application within?
- answer3 years
Change of personal information be submitted to the IREC no later than? - answer10
days
How many IREC core classes are required for a license renewal? - answer2
An independent E&O insurance policy must have an A.M. Best Rating of at least? -
answerB+
Licenses Renewal must be received no later than __________ of the expiration date at
the Commissions office in Boise? - answer5 p.m. Mountain Time
What is the Minimum pass rate score for the broker taking the Idaho State Exam? -
answer75%
Who is required to have a real estate license to practice real estate? - answerAnyone,
with the expectation of compensation, while acting for another, offers to list property for
sale
An example of a exception to being required to have a real estate license is? -
answerOffering property management or leasing for another for compensation
, What's the minimum age to secure a real estate license in Idaho? - answer18 years old
Minimum elective hour of Continuing Education required to renew a real estate license
are? - answer12 Hours plus 2 Core Classes
When does a real estate license expire? - answerThe last day of the licensees birth
month
A student, who birthday is June 5, passed their state exam on April 8, and applied for
and received their license on April 18th, 2018, when does their license expire? -
answerJune 30th, 2019
When do initial fingerprints expire prior to receiving a real estate license? -
answerFingerprint results are valid for 6 months
What typer of insurance is required for an inactive real estate licensee? - answerNONE
What type of insurance is required for an inactive real estate licensee? - answerNONE
What document needs to be accompany an application for real estate license? -
answerHigh school diploma or equivalency
A cooperative license applies to? - answerCommercial properties
What is an example of commercial real estate? - answera Hotel
How many real estate commissioners are there an how long do they serve? - answer5
serving 4 year terms
Which activity does not require a real estate license? - answerProperty management
What is the penalty for brokering a real estate deal without a license? - answerup to
$5000 and 1 year in jail
What does the real estate recovery fund pay out for? - answerFraud, deceit,
misrepresentation
What are the liability limits for the real estate recovery fund? - answer$10,000 per year
If the real estate recovers fund pays out for an agent what happens to the agent? -
answerLicense is suspended until the judgement is repaid
How long is your pre-license course certificate good for? - answer3 years
How long is your passing state exam certificate good for? - answer1 year
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