Indiana Real Estate Exam /
Questions & Correct
Answers Updated, 2025 /
2026.
Practice questions for this set
Learn 1/ 7 Study with Learn
compensation
Choose matching term
The _____ can carry out ONLY those
A salesperson can receive ______
1 2 responsbilties assigned by
ONLY from that broker.
employing ____.
3 delinquency 4 Anti-trust violations
Don't know?
Terms in this set (164)
,The ____ is fully responsible Broker, Broker
for the actions preformed in
the course of real estate
business by all persons
licensed under ______.
The _____ can carry out Salesperson, broker
ONLY those responsbilties
assigned by employing
____.
A salesperson can receive compensation
______ ONLY from that
broker.
A salesperson has _______ to no authority, receive compensation
make contracts with or
______ from any other party.
A brokers commission is contract
specified in the ______
with the principal.
Independent contractors 1. Current real estate licenses
must have .... 2. Licensee must have a written contract w/ broker (
Tax Reasons)
3. At least 90 % of the individuals income as a licenseemust be
based on sales production and NOT on # of hours worked.
Anti-trust violations price-fixing, group boycotting, allocation of customers and
markets, tie-in agreements
Exclusive right to sell listing In this agreement, the agent gets paid no matter who sells
the property, regardless of whether it's the agent or the
seller
Agents get paid in this type of agreement only if they sell
Exclusive agency listing the property. No fee is earned if the owner sells the
property on his own
, Open listing In this type of agreement, sellers have the right to use as
many brokers as they want. The seller is not, however,
obligated to pay any of them if he sells the property
Net listing This type of agreement is illegal in some states. The agent gets
to keep everything he can get that's more than the sale price
the owner wants
Fiduciary The relationship between an agent and a client
What are the fiduciary Accounting, Care, Confidentiality, Disclosure, Loyalty,
duties of a real estate Obedience
agent to his/her client?
Tenancy in severalty type of ownership is by a single person or a corporation, and
not being married doesn't have anything to do with it
Tenancy in common Equal or unequal undivided ownership between two or
more people is what characterizes this type of ownership. If
an owner dies, the deceased person's share is conveyed to
his or her heirs, not the other owners
(Joint tenancy)The four 1.Interest: Each owner has the same interest.
unities that must exist for 2.Possession: All owners hold an undivided interest.
this type of ownership to
3.Time: All owners receive their interest at the same
exist are:
time.
4.Title: All owners acquire their interest with the same deed.
If one owner of a joint That owner's interest reverts to the other owners. This right of
tenancy dies survivor-ship may vary by state.
Available only to married couples, tenancy by the entirety
means that property may not be sold without the
Tenancy by the entirety agreement of both parties. The right of survivorship exists to
the extent that if one spouse dies, his/her interest reverts to
the other spouse
Questions & Correct
Answers Updated, 2025 /
2026.
Practice questions for this set
Learn 1/ 7 Study with Learn
compensation
Choose matching term
The _____ can carry out ONLY those
A salesperson can receive ______
1 2 responsbilties assigned by
ONLY from that broker.
employing ____.
3 delinquency 4 Anti-trust violations
Don't know?
Terms in this set (164)
,The ____ is fully responsible Broker, Broker
for the actions preformed in
the course of real estate
business by all persons
licensed under ______.
The _____ can carry out Salesperson, broker
ONLY those responsbilties
assigned by employing
____.
A salesperson can receive compensation
______ ONLY from that
broker.
A salesperson has _______ to no authority, receive compensation
make contracts with or
______ from any other party.
A brokers commission is contract
specified in the ______
with the principal.
Independent contractors 1. Current real estate licenses
must have .... 2. Licensee must have a written contract w/ broker (
Tax Reasons)
3. At least 90 % of the individuals income as a licenseemust be
based on sales production and NOT on # of hours worked.
Anti-trust violations price-fixing, group boycotting, allocation of customers and
markets, tie-in agreements
Exclusive right to sell listing In this agreement, the agent gets paid no matter who sells
the property, regardless of whether it's the agent or the
seller
Agents get paid in this type of agreement only if they sell
Exclusive agency listing the property. No fee is earned if the owner sells the
property on his own
, Open listing In this type of agreement, sellers have the right to use as
many brokers as they want. The seller is not, however,
obligated to pay any of them if he sells the property
Net listing This type of agreement is illegal in some states. The agent gets
to keep everything he can get that's more than the sale price
the owner wants
Fiduciary The relationship between an agent and a client
What are the fiduciary Accounting, Care, Confidentiality, Disclosure, Loyalty,
duties of a real estate Obedience
agent to his/her client?
Tenancy in severalty type of ownership is by a single person or a corporation, and
not being married doesn't have anything to do with it
Tenancy in common Equal or unequal undivided ownership between two or
more people is what characterizes this type of ownership. If
an owner dies, the deceased person's share is conveyed to
his or her heirs, not the other owners
(Joint tenancy)The four 1.Interest: Each owner has the same interest.
unities that must exist for 2.Possession: All owners hold an undivided interest.
this type of ownership to
3.Time: All owners receive their interest at the same
exist are:
time.
4.Title: All owners acquire their interest with the same deed.
If one owner of a joint That owner's interest reverts to the other owners. This right of
tenancy dies survivor-ship may vary by state.
Available only to married couples, tenancy by the entirety
means that property may not be sold without the
Tenancy by the entirety agreement of both parties. The right of survivorship exists to
the extent that if one spouse dies, his/her interest reverts to
the other spouse
