IDAHO REAL ESTATE TEST

(DPREC) How many real estate commissioners are there and how long do they serve? - Answer-4 serving 4 year terms (DPREC) Which activity does not require a real estate license? - Answer-Property management (DPREC) What is the maximum penalty for brokering a real estate deal without a license? - Answer-up to $5,000 and a year in jail (DPREC) Which organization monitors the code of ethics? - Answer-NAR (National association of Realtors) (DPREC) Which activity does IREC NOT have authority over? - Answer-To force a broker to complete a contractual obligation (DPREC) Which of the following activities would be the real estate recovery fund NOT pay out for? - Answer-Dishonorable conduct (DPREC) What are the liability limits of the real estate recover fund? - Answer-$10,000 per year per licensee (DPREC) What is true of a licensee if the real estate recovery fund pays out for them? - Answer-Their license is suspended until the judgement is repaid (DPREC) An un-licensed personal assistant can not do which activity? - Answer-Verbally quote the price of a property to a buyer (DPREC) What is required in all advertisements for listed properties? - Answer-Brokerage company name (DPREC) The Idaho Real Estate Commission may revoke a real estate license for - Answer-Misrepresentation (DPREC) If a licensee obtains an E&O policy from a private insurer and does not use the state sponsored plan, what must they have in their files for IREC review? - Answer-A certificate of coverage signed by a representative of the insurer (DPREC) The Idaho real estate commission does not have the enforcement power to - Answer-Hold hearing regarding "potential" Code of Ethics violations (DPREC) In Idaho, the Idaho Real Estate License Law and Rules is administered by the - Answer-Id