PSI Iowa Real Estate Exam State Portion - Amy Schaffer Practice Questions and Answers

All of the following must be disclosed on the Groundwater Hazard Statement EXCEPT: a. Radon b. Underground storage tanks c. Private burial grounds d. Hazardous materials A What is the penally, if any, to review a license between January 1-January 30? a. $6.00 b. $25.00 c. $250.00 d. The license may not be renewed B The Iowa Fair Housing Laws cover all EXCEPT: a. Commercial properties b. Apartment buildings of any size c. Motorhomes d. Sales of single family homes C All licenses may be renewed without penalty by: a. April 15 b. June 30 c. Labor Day d. December 31 D Buyers wish to buy a home listed by Broker A. Broker A refuses to write up the offer unless the buyers list their present home with Broker A. This is an example of: a. Tying b. Steering c. Good business practices d. Mutual benefit to both parties A A broker or property manager may keep what amount, if any, of personal funds in his escrow account to keep it open? a. $500 b. $1,000 c. Any amount required by the bank d. May not put any personal funds into the escrow account B