IDAHO REAL ESTATE 2026 ALL ANSWERS AND
QUESTIONS SET A+
✔✔Who is considered the responsible broker in a cooperative sale
A. The listing broker
B. The selling broker
C. The broker holding entrusted funds
D. Both the listing and the selling brokers - ✔✔C. The broker holding entrusted funds
✔✔Who is responsible for the accuracy of a closing (settlement) statement
A. Responsible listing agent
B. Responsible selling agent
C. Responsible escrow officer
D. Responsible broker - ✔✔D. Responsible broker
✔✔How are rejected offers handled
A. Nothing is required
B. Need to be marked as rejected
C. Give to seller for their records
D. Marked and dated as rejected - ✔✔D. Marked and dated as rejected
✔✔Sales associates can only accept fee, compensation or commission from whom
A. The broker with whom licensed
B. Directly from the buyer or seller
C. From the escrow company
D. Directly from the cooperating broker - ✔✔A. The broker with whom licensed
✔✔Two competitive real estate companies were struggling and over lunch they each
agreed to increase their fees so they could survive a down market. This would be an
example of what
A. Cooperation
B. Price Fixing
C. Good business practice
, D. Friendly competition - ✔✔B. Price Fixing
✔✔Who has/have the final say to invoke disciplinary action from a complaint
A. Department of Investigation
B. Chief Investigator
C. Executive Director
D. Commission Members - ✔✔D. Commission Members
✔✔If a judgement surrounding a real estate related transaction has been brought
against a real estate agent, how long does the agent have to notify the Idaho Real
Estate Commission
A. 10 days
B. 20 days
C. 30 days
D. Not necessary, since civil action is outside the jurisdiction of the Idaho Real Estate
Commission - ✔✔B. 20 days
✔✔Who is entitled to recover reasonable attorney's fee in an administrative or judicial
proceeding
A. Plaintiff
B. Defendant
C. Prevailing Party
D. The Court - ✔✔C. Prevailing Party
✔✔When is a prospective buyer or seller to receive the agency disclosure brochure
A. Upon first meeting
B. Prior to writing a contract
C. Before closing a transaction
D. First substantial business contact - ✔✔D. First substantial business contact
✔✔What is the purpose of the buyer or seller signing the agency disclosure brochure
A. To establish a client relationship
B. To create a customer relationship
C. To acknowledge receiving the brochure
D. To secure a real estate activity - ✔✔C. To acknowledge receiving the brochure
✔✔If a buyer is a 'customer' and not a 'client' what duties must the agent extend to the
'customer'
A. None, unless there is a written contract
B. Must collect fee or commission from another party to a transaction
C. Disclose adverse material facts
D. Verify accuracy of statements made by a seller - ✔✔C. Disclose adverse material
facts
QUESTIONS SET A+
✔✔Who is considered the responsible broker in a cooperative sale
A. The listing broker
B. The selling broker
C. The broker holding entrusted funds
D. Both the listing and the selling brokers - ✔✔C. The broker holding entrusted funds
✔✔Who is responsible for the accuracy of a closing (settlement) statement
A. Responsible listing agent
B. Responsible selling agent
C. Responsible escrow officer
D. Responsible broker - ✔✔D. Responsible broker
✔✔How are rejected offers handled
A. Nothing is required
B. Need to be marked as rejected
C. Give to seller for their records
D. Marked and dated as rejected - ✔✔D. Marked and dated as rejected
✔✔Sales associates can only accept fee, compensation or commission from whom
A. The broker with whom licensed
B. Directly from the buyer or seller
C. From the escrow company
D. Directly from the cooperating broker - ✔✔A. The broker with whom licensed
✔✔Two competitive real estate companies were struggling and over lunch they each
agreed to increase their fees so they could survive a down market. This would be an
example of what
A. Cooperation
B. Price Fixing
C. Good business practice
, D. Friendly competition - ✔✔B. Price Fixing
✔✔Who has/have the final say to invoke disciplinary action from a complaint
A. Department of Investigation
B. Chief Investigator
C. Executive Director
D. Commission Members - ✔✔D. Commission Members
✔✔If a judgement surrounding a real estate related transaction has been brought
against a real estate agent, how long does the agent have to notify the Idaho Real
Estate Commission
A. 10 days
B. 20 days
C. 30 days
D. Not necessary, since civil action is outside the jurisdiction of the Idaho Real Estate
Commission - ✔✔B. 20 days
✔✔Who is entitled to recover reasonable attorney's fee in an administrative or judicial
proceeding
A. Plaintiff
B. Defendant
C. Prevailing Party
D. The Court - ✔✔C. Prevailing Party
✔✔When is a prospective buyer or seller to receive the agency disclosure brochure
A. Upon first meeting
B. Prior to writing a contract
C. Before closing a transaction
D. First substantial business contact - ✔✔D. First substantial business contact
✔✔What is the purpose of the buyer or seller signing the agency disclosure brochure
A. To establish a client relationship
B. To create a customer relationship
C. To acknowledge receiving the brochure
D. To secure a real estate activity - ✔✔C. To acknowledge receiving the brochure
✔✔If a buyer is a 'customer' and not a 'client' what duties must the agent extend to the
'customer'
A. None, unless there is a written contract
B. Must collect fee or commission from another party to a transaction
C. Disclose adverse material facts
D. Verify accuracy of statements made by a seller - ✔✔C. Disclose adverse material
facts
