Missed Questions Indiana Real Estate Exam - State actual exam with 100% correct answers(latest update)

When are Indiana agency disclosures required be given to prospective clients? Prior to receiving any confidential information from the consumer Under which circumstance does the buyer in a residential transaction have the right to terminate the purchase contract and get the earnest money back? The seller didn't provide a property condition disclosure prior to accepting the buyer's offer. Pete has just been issued his Indiana broker's license. He's affiliated with a great brokerage and is getting his feet wet in his new career. How will completing his required post-licensing education help him succeed? His post-licensing education requirement provides 30 hours of approved education focused on the practice of real estate. If the seller in a residential transaction submits an amended disclosure to the buyer, the buyer has _____ to terminate the contract with return of the buyer's earnest money. Two business days Which of these properties is a certified residential appraiser in Indiana qualified to independently appraise? a duplex Chantal's client, Mimi, is in love with a house, and she makes a written offer to purchase. The seller's agent informs Chantal that his client has verbally accepted Mimi's offer. What should Chantal tell Mimi? Her offer isn't yet valid. Which of the following statements is true regarding in-house agency in Indiana? The agents in the transaction have an obligation to protect their clients' confidential information from the other brokers at the firm. Which of the following statements about sub-agency in Indiana is true? Sub-agency isn't allowed in Indiana. James is performing real estate activities under an Indiana court's order, so he is ______. Not required to have a real estate license Dylan, an Indiana broker, has shown his buyer client dozens of properties. His client finally settles on a home that's just outside his budget but that has a mother-in-law apartment. After first checking the zoning laws, Dylan assures him the apartment can be rented out to help with the mortgage. Has Dylan violated Indiana's professional standards of practice? No, because Dylan checked to make sure he was advising his client correctly. James is appraising a multi-tenant office building in Indiana. What appraiser license does he hold? Certified general appraiser New Indiana licensees have their continuing education requirements waived for ______ while they complete their post-licensing education. 2 years The Indiana property you're listing is included in a homeowners association (HOA). What's true about the disclosures for this transaction? The buyer must receive disclosures regarding the HOA, in addition to the Seller's Residential Real Estate Sales Disclosure form. Sherry's just completed a successful transaction helping an old school friend sell her condo. The commission she earned isn't paid to her, even though she put many hours of hard work into the sale. Why not? Sherry's a broker affiliated with a broker company. The commission earned in the transaction is paid to her managing broker or broker company. Germaine has completed his last CE course for the year and is ready to submit his license renewal application. Which of the following is a license law requirement he must also follow? He'll retain records confirming all 36 hours of CE he completed for this renewal period for the next three years. What's NOT true about the Indiana Real Estate Commission? It exists to protect the rights and interests of licensed real estate professionals. Consent to limited agency in Indiana requires both parties to sign a form that includes ______. A statement explaining that the limited agent represents parties whose interests in the transaction are different or even adverse