Real Estate Law Questions (Indiana)
Indiana Real Estate Law Practice Questions with Answers and Rationales - Exam Prep Guide
Study online at https://quizlet.com/_8tg27g
1. The Indiana real estate commission will NOT issue a D. Sole proprietorship
broker's license to which of the following business
structures?
A. Association
B. LLC
C. Partnership
D. Sole proprietorship
2. An auctioneer selling real estate at a public auction: C. Is not required to have a
A. Must have a broker's license real estate license
B. Must be a managing broker
C. Is not required to have a real estate license
D. Is required to have a broker's license for one year
3. The Indiana Real Estate Commission may: A. Grant, deny, suspend,
A. Grant, deny, suspend, or revoke approval of exami- or revoke approval of ex-
nations and courses of study of an approved school aminations and courses
B. Levy fines of $6,000 against licensees for violations of study of an approved
of rules and regulations school
C. Suspend a practitioner's license for a period of two
years in advance of a final adjudication
D. Refuse to reinstate a license after any suspension of
more than two years
4. A broker will have what maximum period of time after D. 365 days
passing the state examination to apply for a license
without have to re-examine? *Also 1 year from com-
A. 30 days plete pre-licensing course
B. 60 days to pass the state exam
C. 180 days
D. 365 days
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Page 1
, Real Estate Law Questions (Indiana)
Indiana Real Estate Law Practice Questions with Answers and Rationales - Exam Prep Guide
Study online at https://quizlet.com/_8tg27g
5. A licensee is convicted of a crime; they must notify the A. Within 30 days of con-
Real Estate Commission: viction
A. Within 30 days of conviction
B. Immediately
C. Within 90 days of conviction
D. Within 60 days of conviction
6. Each partner in a partnership who is active in the real B. Must be a broker
estate business:
A. May be a managing broker
B. Must be a broker
C. Does not need to be licensed if one of the other
partners is licensed
D. May continue to solicit new business after the death
of one partner
7. Action required by the commission may be conducted B. A written consent to the
without a meeting if, prior to that action: action is signed by all the
A. A written consent to the action is signed by a major- members
ity of the members
B. A written consent to the action is signed by all the
members
C. An oral consent to the action is received
D. Seven members consent to the action
8. The Real Estate Commission can inspect a broker A. Immediately
records:
A. Immediately
B. 5 days notice
C. 30 day notice
D. 60 days notice
9.
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Page 2
Indiana Real Estate Law Practice Questions with Answers and Rationales - Exam Prep Guide
Study online at https://quizlet.com/_8tg27g
1. The Indiana real estate commission will NOT issue a D. Sole proprietorship
broker's license to which of the following business
structures?
A. Association
B. LLC
C. Partnership
D. Sole proprietorship
2. An auctioneer selling real estate at a public auction: C. Is not required to have a
A. Must have a broker's license real estate license
B. Must be a managing broker
C. Is not required to have a real estate license
D. Is required to have a broker's license for one year
3. The Indiana Real Estate Commission may: A. Grant, deny, suspend,
A. Grant, deny, suspend, or revoke approval of exami- or revoke approval of ex-
nations and courses of study of an approved school aminations and courses
B. Levy fines of $6,000 against licensees for violations of study of an approved
of rules and regulations school
C. Suspend a practitioner's license for a period of two
years in advance of a final adjudication
D. Refuse to reinstate a license after any suspension of
more than two years
4. A broker will have what maximum period of time after D. 365 days
passing the state examination to apply for a license
without have to re-examine? *Also 1 year from com-
A. 30 days plete pre-licensing course
B. 60 days to pass the state exam
C. 180 days
D. 365 days
1/9
Page 1
, Real Estate Law Questions (Indiana)
Indiana Real Estate Law Practice Questions with Answers and Rationales - Exam Prep Guide
Study online at https://quizlet.com/_8tg27g
5. A licensee is convicted of a crime; they must notify the A. Within 30 days of con-
Real Estate Commission: viction
A. Within 30 days of conviction
B. Immediately
C. Within 90 days of conviction
D. Within 60 days of conviction
6. Each partner in a partnership who is active in the real B. Must be a broker
estate business:
A. May be a managing broker
B. Must be a broker
C. Does not need to be licensed if one of the other
partners is licensed
D. May continue to solicit new business after the death
of one partner
7. Action required by the commission may be conducted B. A written consent to the
without a meeting if, prior to that action: action is signed by all the
A. A written consent to the action is signed by a major- members
ity of the members
B. A written consent to the action is signed by all the
members
C. An oral consent to the action is received
D. Seven members consent to the action
8. The Real Estate Commission can inspect a broker A. Immediately
records:
A. Immediately
B. 5 days notice
C. 30 day notice
D. 60 days notice
9.
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