Idaho Real Estate Exam Questions & Answers Correct 100%

The primary purpose of the Idaho Real Estate Commission is to: - Answer Protect the public and industry Initial application for a real estate license is administered by: - Answer Idaho Real Estate Commission Where does the money come from to operate the Idaho Real Estate Commission? - Answer All Licensees The Idaho Real Estate commission consists of how many member commissioners - Answer 5 The Idaho Real Estate Commission generally meets - Answer 6-8 times a year Course make-up work is allowed only for - Answer Any pre-license courses Pre license courses must be successfully completed prior to license application within - Answer 3 years Change of personal information be submitted to the IREC no later than - Answer 10 days How many IREC Core classes are required for license renewal - Answer Two An Independent E&O insurance policy must have an A.M. Best rating of at least - Answer B+ License renewal must be received no later than ______ of the expiration date at the Commission office in Boise - Answer 5 PM Mtn time zone What is the Minimum pass rate score for a BROKER taking the ID exam - Answer 75% Who is required to have a real estate license to practice real estate - Answer Anyone with the expectation of compensation while acting for another, offers . to list property for sale An example of an exception to being required to have a real estate license is - Answer Offering property management or leasing for another for compensation Whats the minimum age to secure a real estate license in ID - Answer 18 Minimum elective hours of Continuing Education required to renew a real estate license are: - Answer 12 hours plus 2 core When does a real estate license expire - Answer On the last day of the licensee's birth month. How many different types of surveys are recognized in Idaho - Answer Three What type of description will not meet acceptable standards to transfer property - Answer Tax Parcel Number The "initial Point" (Boise Meridian) is closet to what community - Answer Kuna What township borders Canada? - Answer Township 65 North If the Western border is range 6 West, and the Eastern border is range 46 East, how wide is Idaho? - Answer 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? - Answer 5 A legal description using "lot and block" is using what method to describe the parcel? - Answer Recorded plat What period of time does a completed record of survey need to be filled - Answer 90 days The minimum size of survey pins shall be not less than - Answer 1/2 inch diameter and 2 feet long A datum point and subsequent benchmarks are used to measure: - Answer Air lots An example of "Chattel" is - Answer Annual growing crops Personal property is transferred with what type of instrument - Answer Bill of Sale Who owns the water in Idaho - Answer State of Idaho Domestic water usage for land irrigation is limited to - Answer 1/2 acre Daily use of domestic water is not to exceed how many gallons per day? - Answer 13000 A holder of a water right can lose a water right if not put to beneficial use for what period of time - Answer 5 years Wo is required to notify the Idaho Department of Water Resources to abandon a water well - Answer Licensed well driller Who has the authority to appropriate ground water recharge - Answer Idaho Department of Water Resources Unless declared as real property, manufactured home ownership will be transferred with: - Answer Certificate of Title If there isn't enough water to satisfy all the water rights, who gets the water - Answer Senior water rights holder Who can legally drill a water well - Answer Licensed well driller Whats required before a well can be drilled - Answer A drilling permit If a person filed for and received a water right to use water from a navigable river, the water right is a unique form of - Answer Personal Property Homestead protection protects the home or property from - Answer Unsecured creditiors The max net value of the dwelling for homestead protection is - Answer $100,000 To qualify for a homestead protection in Idaho . the property must be occupied for a continuous period of - Answer At least 6 months An owner moves from one permanent residence to another. What must the owner do to receive homestead protection? - Answer File for abandonment and file a declaration for homestead for the new location A verbal lease for more than one year is - Answer Invalid What kind of notice must the tenant provide the landlord t get a water heater replaced - Answer Certified mail Given proper notice how long does a landlord have to resolve a violation - Answer 3 days If a landlord plans to increase rent on a "month to month" rental, how much notice must be given - Answer At least 15 days notice How much advance notice to terminate a month to month rental, how much notice must be given - Answer Not less than one month After a tenant surrenders premises, security deposit refunds must be made within: - Answer 30 days Lot rent for a manufactured home is required to be - Answer In writing How much notice to tenant is required to increase utilities in a mobile home park - Answer 90 days How much advance notice must a landlord of a mobile home park give to the tenant to not renew a lot lease prior to expiration - Answer Not less than 180 days A right granted by law where there is no access to a persons land - Answer Easement by necessity A right that runs with the land from the servient estate to the dominant estate - Answer Easement appurtenant Using land of another without permission for prescribed period of time - Answer Easement by prescription Right of a person or corporation to use land owned by another for a specific purpose - Answer Easement in gross A license to access property for a specific period of time - Answer Is a temporary use Once a positive field examination for a water right has been conducted within the proof time period. a municipality will be issued a - Answer License A partnership "abc partners", constitutes what type of ownership - Answer Sole ownership The formation of a limited liability company is filed with - Answer Secretary of State Failure of an LLC to file an annual report can result in: - Answer Administrative dissolution All property of either husband or wife acquired prior to marriage shall remain - Answer Sole and seperate Unless stated otherwise, any income or profits from all property after marriage, separate or community, will be treated as - Answer Community property When is the annual report by a limited liability company to be filed - Answer Before the end of the month the company was organized community property with right of survivorship - Answer avoids probate If an LLC is dissolved, an application for reinstatement may be possible if filed within what period of being dissolved? - Answer 10 years Unless declared as real property, manufactured home ownership will be transferred with: - Answer Certificate of Title Prior to permanently removing a manufactured home off of real property, intent to remove must be given to - Answer County Assessor The property of a person who died, had no heirs and reverts to the state is known as - Answer Escheat A solar lot line is often referenced on what date - Answer December 21 Scenic views and open space can be protected with - Answer Conservation easement A zoning regulation is an example of - Answer police power Any changes to the comprehensive plan require how many public hearings? - Answer 1 To modify the comprehensive plan, how much notice must be given prior to the hearing? - Answer 15 days Zoning ordinances are used to identify - Answer Density In an owner needed a setback, change to accommodate a structure design, the owner would request - Answer Zoning variance