1|Page
IOWA Real Estate Exam Prep 2025 |
Comprehensive Q&A For Certification
Success
Which of the following rises to the level of specific assistance? - correct-answer-
Establishing a listing price range with a seller
The commission may deny the issuance or renewal of a real estate license -
correct-answer-upon receipt of notice that the applicant or licensee is in default
of a college student loan
In an agent's license expires on Saturday, December 31, the licensee may renew -
correct-answer-On Tuesday, January 2, without paying a penalty
If an agent's license expires on December 31, and the licensee desires to become
reinstated one year later, he or she must file an application, must pay the regular
license fee, and may either retake and pass the real estate exam or - correct-
answer-pay a reinstatement fee of $25 for each full or partial month
,2|Page
An inactive licensee must - correct-answer-renew every three years
A new salesperson received his license on October 6, 2005. When will his license
expire? - correct-answer-December 31, 2007
A real estate agent entered into an appointed agency agreement with both a
seller and a buyer. The buyer is now interested in making an offer on the seller's
property. Can this occur? - correct-answer-Yes, if both the buyer and seller give
their written consent to dual agency
A real estate salesperson has been working with a couple to purchase a home.
After helping with them negotiate for their home, the buyers ask the salesperson
if she can help them secure a mortgage. The salesperson knows a lender that pays
a fee for referring buyers to them. Should the salesperson refer the buyers to this
lender? - correct-answer-No, acceptance of a fee from a lender would be in
violation of Iowa code
A buyer contracts a real estate office and indicates an interest in purchasing one of
the office's listings. Without formally disclosing his or her company's agency
policy, the listing agent can do all of the following except - correct-answer-
prequalify the buyer for a mortgage
,3|Page
A prospective buyer is interested in seeing a house listed with a real estate
company buy chooses not to enter into a buyer agency agreement. The listing
agent can show the buyer the house if the - correct-answer-salesperson does not
ask any questions of a confidential nature
Buyer-brokerage agreements - correct-answer-must be in writing to be
enforceable
The salesperson represents the seller in a transaction. When prospective buyers
ask to look at the property, the salesperson must - correct-answer-inform them
that the real estate company represents the seller's interest
A broker took a listing for a small office building. Because the property was in
excellent condition and produced a good, steady income, the broker's salesperson
decided to purchase it as an investment. If the salesperson actually purchased this
property, the salesperson must - correct-answer-inform the owner in writing that
the salesperson is a licensee before providing specific assistance or making an
offer
Written agency agreements must be given to prospective purchasers and/or
tenants - correct-answer-before any offers to purchase or lease are prepared or
presented
, 4|Page
A broker entered into a listing agreement with a seller. Another broker, working
with a buyer, learned about the property throughout the MLS. The cooperating
broker would represent the - correct-answer-buyer as an agent
When a broker gives a listing presentation, a discussion about agency must be
made to the seller - correct-answer-at the time of specific assistance
A written, appointed agency agreement with a seller must be determined, and all
necessary forms executed - correct-answer-prior to entering into a listing
agreement
If a salesperson receives a referral fee from a lender for the referral of a buyer-
client, the salesperson - correct-answer-has not acted in the best interest of the
public, and receiving the fee constitutes a violation of Iowa code
If a salesperson acts solely for a seller-client in a real estate transaction to the
exclusion of everyone else in his or her brokerage agency, the salesperson is a(n) -
correct-answer-appointed agent
IOWA Real Estate Exam Prep 2025 |
Comprehensive Q&A For Certification
Success
Which of the following rises to the level of specific assistance? - correct-answer-
Establishing a listing price range with a seller
The commission may deny the issuance or renewal of a real estate license -
correct-answer-upon receipt of notice that the applicant or licensee is in default
of a college student loan
In an agent's license expires on Saturday, December 31, the licensee may renew -
correct-answer-On Tuesday, January 2, without paying a penalty
If an agent's license expires on December 31, and the licensee desires to become
reinstated one year later, he or she must file an application, must pay the regular
license fee, and may either retake and pass the real estate exam or - correct-
answer-pay a reinstatement fee of $25 for each full or partial month
,2|Page
An inactive licensee must - correct-answer-renew every three years
A new salesperson received his license on October 6, 2005. When will his license
expire? - correct-answer-December 31, 2007
A real estate agent entered into an appointed agency agreement with both a
seller and a buyer. The buyer is now interested in making an offer on the seller's
property. Can this occur? - correct-answer-Yes, if both the buyer and seller give
their written consent to dual agency
A real estate salesperson has been working with a couple to purchase a home.
After helping with them negotiate for their home, the buyers ask the salesperson
if she can help them secure a mortgage. The salesperson knows a lender that pays
a fee for referring buyers to them. Should the salesperson refer the buyers to this
lender? - correct-answer-No, acceptance of a fee from a lender would be in
violation of Iowa code
A buyer contracts a real estate office and indicates an interest in purchasing one of
the office's listings. Without formally disclosing his or her company's agency
policy, the listing agent can do all of the following except - correct-answer-
prequalify the buyer for a mortgage
,3|Page
A prospective buyer is interested in seeing a house listed with a real estate
company buy chooses not to enter into a buyer agency agreement. The listing
agent can show the buyer the house if the - correct-answer-salesperson does not
ask any questions of a confidential nature
Buyer-brokerage agreements - correct-answer-must be in writing to be
enforceable
The salesperson represents the seller in a transaction. When prospective buyers
ask to look at the property, the salesperson must - correct-answer-inform them
that the real estate company represents the seller's interest
A broker took a listing for a small office building. Because the property was in
excellent condition and produced a good, steady income, the broker's salesperson
decided to purchase it as an investment. If the salesperson actually purchased this
property, the salesperson must - correct-answer-inform the owner in writing that
the salesperson is a licensee before providing specific assistance or making an
offer
Written agency agreements must be given to prospective purchasers and/or
tenants - correct-answer-before any offers to purchase or lease are prepared or
presented
, 4|Page
A broker entered into a listing agreement with a seller. Another broker, working
with a buyer, learned about the property throughout the MLS. The cooperating
broker would represent the - correct-answer-buyer as an agent
When a broker gives a listing presentation, a discussion about agency must be
made to the seller - correct-answer-at the time of specific assistance
A written, appointed agency agreement with a seller must be determined, and all
necessary forms executed - correct-answer-prior to entering into a listing
agreement
If a salesperson receives a referral fee from a lender for the referral of a buyer-
client, the salesperson - correct-answer-has not acted in the best interest of the
public, and receiving the fee constitutes a violation of Iowa code
If a salesperson acts solely for a seller-client in a real estate transaction to the
exclusion of everyone else in his or her brokerage agency, the salesperson is a(n) -
correct-answer-appointed agent
