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Indiana Real Estate Commission Statutes And Rules Exam Questions With Correct 100% Verified (Grade A+) Latest Updated 2026/2027

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Course Indiana Real Estate Managing Broker
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INDIANA REAL ESTATE COMMISSION STATUTES AND RULES EXAM QUESTIONS WITH CORRECT 100% VERIFIED (GRADE A+) LATEST UPDATED 2026/2027

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INDIANA REAL ESTATE COMMISSION
STATUTES AND RULES EXAM QUESTIONS
WITH CORRECT 100% VERIFIED (GRADE A+)
LATEST UPDATED 2026/2027
ThegIndianagRealgEstategCommissiongconsistsgofg-gCORRECTgANSWER-
9gdistrictgcommissioners,g2gcitizengmembersgat-large,gandg1grealgestategmembergat-large.



TogobtaingangIndianagbroker'sglicense,gangindividualgmustg-gCORRECTgANSWER-
havegsuccessfullygcompletedgag90ghourgbrokergcoursegandgpassgagwrittengstategexamination.



Agbrokerg-gCORRECTgANSWER-maygbegassociatedgwithgonlygonegmanaginggbroker.



Ingthegeventgofgthegdeathgofgangindividualgmanaginggbroker,gagbrokergassociatedgwithgthatgmanainggbroker
g-gCORRECTgANSWER-

maygcontinuegtogcarrygoutgbusinessgcontractedgforgbeforegthegdeathgofgthegmanaginggbrokergforgagmaxim
umgofg90gdays,gbutgmustgassociategwithgagnewgmanaginggbrokergbeforegenteringgintoganygnewgbusinessg(li
stinggorgsales).



Aglicenseegwhogisgconvictedgofgagcrimeg-gCORRECTgANSWER-
mustgsendgagcopygofgthegcomplaintgorgotherginformationgdescribinggthegcrimegtogthegcommissiongwithing3
0gdaysgaftergthegdategofgthegconviction.



RegardinggthegRealgEstategRecoverygFund,gthegRealgEstategCommissiongwillgassessgagsurchargegonglicensega
pplicationsgORgrenewalsgifgthegamountgofgmoneygingthegfund,gongJuneg30gofgodd-
numberedgyears,gdropsgbelowg-gCORRECTgANSWER-$450,000.



Angagencygrelationshipginvolvinggtwogorgmoregclientsgwhogaregrepresentedgbygdifferentglicensesgwithingth
egsamegrealgestategfirmgisgcalledg-gCORRECTgANSWER-angin-housegagencygrelationship.



Thegfollowinggsellergwouldgnotgbegrequiredgtogcompletegag'ResidentialgRealgEstategSalesgDisclosuregForm':g
-gCORRECTgANSWER-Agbuildergsellinggagnewlygconstructedgsingle-familyghome.

, Thegfollowinggactivitygisgallowedgtogbegperformedgbygangunlicensedgrealgestategassistant:g-
gCORRECTgANSWER-

Preparinggrealgestategflyersgthatgaregreviewedgandgapprovedgbygtheirgsupervisingglicensee.



ThegfollowinggactivitiesgaregNOTgallowedgtogbegperformedgbygangunlicensedgrealgestategassistant:g-
gCORRECTgANSWER--Telephonegcanvassinggforglistings.g



-Openghouses.g

-Showingghomesglistedgbygtheirgsupervisingglicensee.



ThegfollowinggisgTRUEgaboutgrealgestategcommissioners:g-gCORRECTgANSWER-
AllgcommissionersgaregappointedgbygthegGovernor.



Thegfollowinggindividualgwouldgbegrequiredgtoghavegagrealgestateglicense:g-gCORRECTgANSWER-
Angattorneygsolicitingglistingsgfromg'ForgSalegbygOwners.'



ThegfollowinggstatementgisgTRUEgregardinggthegcontinuinggeducationgrequirementgforgrealgestateglicensee
s:g-gCORRECTgANSWER-
Realgestateglicenseesgaregrequiredgtogcompletegatgleastg36ghoursgofgcontinuinggeducationgingeachglicensegr
enewalgperiod.



Aglicenseeghasgfailedgtogrenewgtheirgrealgestateglicense.gHowglonggaftergexpirationgdoesgtheglicenseeghavegt
ogreinstategtheirglicensegwithoutghavinggtogre-takegthegstategexamination?g-gCORRECTgANSWER-
Threegyears.



ThegfollowinggaregTRUEgaboutgpurchasegagreementsgingIndiana:

-Theygmustgbegingwritinggtogbegenforceable.

-Theygmustgbegingquadruplicate.

-Theygmustgshowgagdefinitegexpirationgdate.

butgNOTg-gCORRECTgANSWER-
Theygmustgbegpresentedgtogthegsellergforgacceptancegorgrejectiongwithingtwogbusinessgdays.



Aglicenseegisgconvictedgofgagfelony,gunrelatedgtogtheirgrealgestategpractice.gAsgagresultgofgthegconviction,gth
egfollowinggmaygoccur:g-gCORRECTgANSWER-

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