Idaho Real Estate School (Module 1) Exam Test Questions With Revised Correct Answers Revised & Reviewed
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Course
Idaho real estate
Institution
Idaho Real Estate
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 ...
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 A) disclose their licensee status on any purchase
and sales agreement
2) When does a party become a client of a brokerage firm in
Idaho?
A) when they receive the agency blue brochure
B) when they sign an offer to purchase
,C) when the agent checks the appropriate box in the agency
confirmation section
D) when they sign an agency representation agreement -
ANSWER D) when they sign an agency representation
agreement
3) What is true of the statutory duties licensees owe to
customers and clients?
A) they are mandatory and cannot be waived
B) they are optional at the direction of all parties
C) they do not apply in the case of limited dual agency
D) The designated broker of the firm determines which applies
in each case - ANSWER A) they are mandatory and cannot
be waived
4) Idaho law requires an agency representation agreement,
if there is one, to be signed no later than when?
A) receipt of agency disclosure brochure
B) before signing an offer to purchase
C) after signing an offer to purchase
,D) during escrow but before closing the sale - ANSWER
B)Before signing an offer to purchase
5) When must the commission agency brochure be
presented?
A) at the first meeting with the buyer or seller
B) at first substantial business contact
C) no later than when they sign an offer
D) no later then when they close escrow on sale - ANSWER
B) at first substantial business contact
Which circumstance is not covered by the Idaho physiologically
impacted property law?
A) A sex offender lives next-door
B) A prior occupant was murdered in the home
C) The home was a clandestine drug laboratory
D) The prior resident had AIDS - ANSWER C) The home was
a clandestine drug laboratory
, When is true regarding a psychological impact of an Idaho
property?
A) it must always be disclosed
B) The agent must disclose only if they are aware
C) there is not a requirement to disclose
D) it must be disclosed only if the buyer asks - ANSWER C)
there is not requirement to disclose
The seller representation agreement has expired. The seller
signed the seller representation agreement with a different
brokerage firm. The original listing agent now has a buyer
interested in the seller's property. The original listing agent...
A) is a dual agent
B) cannot disclose to the buyer confidential information of the
seller obtained while it was listed with him or her
C) cannot disclose information about the physical condition of
the property to the buyer
D) cannot represent the buyer - ANSWER B) cannot
disclose to the buyer confidential information of the seller
obtained while it was listed with him or her
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