Idaho Real Estate (State Test) Questions and Answers Graded A+

Idaho Real Estate (State Test) Questions and Answers Graded A+ The primary purpose of the Idaho real estate commission is to: Protect the public and industry Initial application for a real estate license is administrated by Idaho real estate commission Where does the money come from to operate the Idaho real estate commission All licensees The Idaho real estate commission consists of how many member commissioners 4 The Idaho real estate generally meets: Monthly Course make-up work is allowed only for: Any pre-license courses Pre-license course is must be successfully completed prior to license application within 3 years Change of personal information be submitted to the IREC no later than: 10 days How many IREC Core classes are required for license renewal Two An independent E&O insurance policy must have an A.M. Best rating of at least: B+ License renewal must be received no later than _________ of the expiration date at the commission office in Boise. 5.p.m mountain time What is the minimum pass rate score for a broker taking the Idaho state exam? 75% Who is required to have a real estate license to practice real estate? Anyone, with expectation of compensation, were acting for another, offers to list property for sale An example of an exception to being required to have a real estate license is to: Offering property management or leasing for another for compensation What's the minimum age to secure a real estate license in Idaho? 18 Minimum elective hours of continuing education required to renew a real estate license are: 12 hours plus 2 core When does a real estate license expire The last day of licensees birth month A student, whose birthday is June 5, past their state exam on April 8, and applied for and received their license on April 18, 2014. When does their license expire? June 30, 2015 When do initial fingerprints expire prior to receiving a real estate license Fingerprint results are valid for six months What type of insurance is required for an inactive real estate licensee? None To be effective, tail coverage for E&O insurance must be purchased within how many days from cancellation 90 days from cancellation What documentation needs to accompany an application for a real estate license? High school diploma or equivalency How many different types of surveys are recognized in Idaho Three What type of description will not meet acceptable standards to transfer property Tax Parcell number What township borders Canada Township 65 north The 'initial point' (boise meridian) is closest to what community? Kuna If the western border is range six W. and the eastern border is range 46 E. how wide is Idaho 312 miles Idaho describes a subdivision as a tract of land divided into at least how many lots for the purpose of sale or development? 5 A legal description using 'lot and block' is using what method to describe the parcel? Recorded plat What period of time does a completed record of survey need to be filled? 90 days The minimum size of survey pins shall not be less than: 1/2 inch diameter by 2 feet long A datum point and subsequent benchmarks are used to measure: Air lots An example of 'chattel' is? Annual growing crops Personal property is transferred with what type of instrument? Bill of sale Who 'owns' the water in idaho? State of Idaho Domestic water usage for land irrigation is limited to? 1/2 acre Daily use of the Mestic water is not to exceed how many gallons per day? 13,000