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

Licensing Requirements: Is a High School Diploma a licensing requirement? - Answer Yes - High School Diploma is required. How long do you have to wait to attain a new license if you have been suspended, are a felony, relevant misdemeanor convictions for fraud, misrepresentation, or dishonest or dishonorable dealings? - Answer Five years How long is your 90 Hour pre-license education valid for? - Answer Three Years How long is your license examination valid for? - Answer One year What...

Which type of written policy is every broker required to have? - Answer Office agency policy What is true regarding an agent's commissions? - Answer They are paid from their broker Who are the only 2 unlicensed parties you may share any part of your commissions with: - Answer The buyer and seller to the transaction If you leave a firm to work for another you must: - Answer Turn in all property belonging to the broker into your formal broker Commissions charged to parties by real est...

An appraisal is an ______ or opinion of value based on supportable evidence and approved methods. - Answer estimate A ______ ______ ______ (CMA) is an an analysis of probable value of real estate done by an individual other than an appraiser. A real estate agent (can/cannot) charge for a CMA. - Answer Comparable Market Analysis cannot A ______ ______ ______ (BPO) is an opinion of value of real estate done by a licensee with a broker level license. They (can/cannot) charge for a BPO. - Ans...

What are Riparian rights? - Answer Rights granted to owners of land along moving water - River or stream What are Littoral rights? - Answer Rights granted to owners whose land boarders commercially navigable still waters (Lake/Large Water) Last step in valuing Real Estate - Answer Reconciliation What is a trade fixture? - Answer personal property of a business owner, that when attached to a rented space or building remains personal property. - trade fixtures must be removed by last ...

Equity is defined as - Answer the market value less the debt owed what are the owner's rights if their farm zoning is changed by the county to single family residential? - Answer their old use continues through non-conforming use which police power allows a city to forcibly purchase a vacant lot to build a parking lot? - Answer eminent domain how do you transfer personal property in a sale? - Answer bill of sale what is the area between businesses and federal wetlands called? - Answ...

Purpose of IREC - Answers Protect public and industry Real Estate application administered by: - Answers IREC Money to fund IREC - Answers All active and inactive licensees Commission consists of - Answers 4 members IREC meets - Answers Monthly Make up work - Answers Only on Pre Licensing Courses PreLicensing classes good for - Answers 3 years

Idaho Real Estate (State Test) Study Guide Solutions Protect the public and industry - ANSWER-The primary purpose of the Idaho real estate commission is to: Idaho real estate commission - ANSWER-Initial application for a real estate license is administrated by All licensees - ANSWER-Where does the money come from to operate the Idaho real estate commission 4 - ANSWER-The Idaho real estate commission consists of how many member commissioners Monthly - ANSWER-The Idaho real estate general...

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 circums...

Utah Real Estate School - Utah Office Procedures Practice Exam Questions and Answers 100% Pass A brokerage sets up a temporary branch office in a model home. They do not need to register with the Division of Real Estate unless their branch will be there for more than - ANSWER-12 months. P wants to manage a Branch Office for her broker. What does she need to have? - ANSWER-Associate Broker License. Under what circumstances might an associate broker or sales agent be licensed under two diffe...