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Real Estate Idaho (Module 1) Exam Questions and Answers
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Real Estate Idaho (Module 1) Exam Questions and Answers Acting in the capacity of a broker or ____________ requires a license - ANSWER-Salesperson Failure to keep adequate _______________ is an IREC violation - ANSWER-Records The REALTORS is this type of Association - ANSWER-Trade This amount ...

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Document information

  • November 4, 2024
  • 19
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • real estate idaho module 1 exam questions and an

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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




Real Estate Idaho (Module 1) Exam

Questions and Answers


Acting in the capacity of a broker or ____________ requires a license - ANSWER✔✔-Salesperson


Failure to keep adequate _______________ is an IREC violation - ANSWER✔✔-Records


The REALTORS is this type of Association - ANSWER✔✔-Trade


This amount of CE elective credit hours are required every license cycle - ANSWER✔✔-Twelve


The business of bringing parties together in a real estate deal - ANSWER✔✔-Broker


Some ____________ in your personal circumstance must be reported to the IREC within 10 days -

ANSWER✔✔-Changes


This type of contract is illegal - ANSWER✔✔-Double


This type of account in the broker's office is subject to audit by the IREC - ANSWER✔✔-Trust


IREC can deny a license to anyone convicted of this - ANSWER✔✔-Felony


This happens to your license if the Recovery Fund pays out for you - ANSWER✔✔-Suspension


Your Insurance carrier must issue a ______________ of coverage for your files - ANSWER✔✔-Certificate


The code of Ethics is administered by this group - ANSWER✔✔-NAR


This type of license requires CE credit to renew - ANSWER✔✔-Active



Copyright ©Stuvia International BV 2010-2024 Page 1/19

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


This County official determines market values - ANSWER✔✔-Assessor


This pre-license course is good for how many years - ANSWER✔✔-Three


An example of commercial real estate - ANSWER✔✔-Hotel


How many real estate commissioners are there, and how long do they serve - ANSWER✔✔-4 serving 4

year terms


Which activity does not require a real estate license - ANSWER✔✔-Property management


What is the penalty for brokering a real estate deal without a license - ANSWER✔✔-Up to $5,000 and/or

a year in jail


Which activity would the real estate recovery fund NOT pay out - ANSWER✔✔-Dishonorable dealings


What are the liability limits of the real estate recovery fund - ANSWER✔✔-$10,000 per year, per license


What is true of a licensee if the real estate recovery fund pays out for them - ANSWER✔✔-Their license

is suspended until the judgment is repaid


How long is your pre-license course certificate good for - ANSWER✔✔-3 years


How long is your passing state exam certificate good for - ANSWER✔✔-1 year


How long is the fingerprint background check good for - ANSWER✔✔-6 months


What are Continuing Education (CE) minimum requirements - ANSWER✔✔-12 elective hours plus the 2

core courses every 2 years


What is required in all advertisements for listed properties - ANSWER✔✔-Brokerage company name




Copyright ©Stuvia International BV 2010-2024 Page 2/19

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


What is true about Broker's commission policies - ANSWER✔✔-They can set a minimum commission the

firm charges buyers and sellers


Violation of Anti-Trust laws (3) - ANSWER✔✔-Price fixing, allocation of customers and markets, and

group boycotting


Who are the only 2 unlicensed parties you may share any part of your commissions with - ANSWER✔✔-

The buyer and the seller to the transaction


If you leave a firm to wok for another you must - ANSWER✔✔-Turn in all property to your former broker

within 3 days


All of your listings belong to who - ANSWER✔✔-Your broker


6 requirements to obtain an Idaho Salesperson license - ANSWER✔✔-1. Fingerprinting


2. Education (High School Equivalent)


3. Real estate education


4. License Exam (70%...good for 1 year)


5. Errors and Omissions Insurance


6. License application form


In an office that allows for Limited Dual Agency with Assigned Agents. How would the broker herself

work with at buyer client to buy an in-house listing of one of her agents - ANSWER✔✔-She would

represent the buyer with Limited Dual WITHOUT Assigned Agents


What is true of Limited Dual Agency with Assigned Agents - ANSWER✔✔-Each agent may advocate fully

for their client in a sale

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