Module 1 - Idaho Real Estate - Exam Study Questions
Study online at https://quizlet.com/_8grv8c
1. A builder/developer who is also an active DISCLOSE that they have a license
real estate licensee must...
2. Listed property must be advertised under Designated broker's business name
the name of
3. The use of double contracts in Idaho is Prohibited by IREC
4. A fully executed listing is the property of the Listing Broker
5. A sales associate may accept a portion of the Only the BROKER they are licensed under
total commission from:
6. The maximum commission that a broker The rate agreed upon by the two parties
may charge a principal is
7. Upon terminating the business relationship Notify broker in writing in 3 business days
with a broker, a sales associate must:
8. Which of the following could legally receive Personal representative of an estate
compensation for selling real estate for an-
other person without a RE license?
9. A salesperson with XYZ realty sells one of non-agent for the buyer and an agent for
XYZ's listings. There is no buyer broker con- the seller
tract, but the buyer has been working with
XYZ's salesperson for 6 months. XYZ is a....
10. For a buyer to be represented as a client, signed written agency agreement repre-
Idaho real estate law requires there to be a: sentation agreement
11. An agency relationship is FIRST created signs an exclusive buyer representation
when the buyer agreement
1/7
, Module 1 - Idaho Real Estate - Exam Study Questions
Study online at https://quizlet.com/_8grv8c
12. Disclosing sales prices of a residential prop- not a violation of statue
erty is
13. Assigned Agency only applies under limited dual agency
14. The seller tells his broker there may be po- Inform all potential purchasers
tential cancer causing material in the insula-
tion. the listing broker should:
15. The Sellers inform their agent they must sell Only with permission from the seller
quickly because of a job transfer. The listing
broker can disclose:
16. While working at Brokerage A, an agent Must maintain former client confidentiality
learns confidential info about one of a
client's listings. The agent then moved to
Brokerage B and found a buyer for that list-
ing. The agent:
17. If money spent on a property will add to the capital improvement
property's value and/or prolong the proper-
ties life, it is called:
18. The actual taxable profits received by per- Capital Gains
sons selling their investment property is
known as
19. The difference between the amount owed Equity
on the property and the market value is:
20. When the supply of single family homes in- Decrease
creases, the prices tend to:
21. Employment and wage levels
2/7
Study online at https://quizlet.com/_8grv8c
1. A builder/developer who is also an active DISCLOSE that they have a license
real estate licensee must...
2. Listed property must be advertised under Designated broker's business name
the name of
3. The use of double contracts in Idaho is Prohibited by IREC
4. A fully executed listing is the property of the Listing Broker
5. A sales associate may accept a portion of the Only the BROKER they are licensed under
total commission from:
6. The maximum commission that a broker The rate agreed upon by the two parties
may charge a principal is
7. Upon terminating the business relationship Notify broker in writing in 3 business days
with a broker, a sales associate must:
8. Which of the following could legally receive Personal representative of an estate
compensation for selling real estate for an-
other person without a RE license?
9. A salesperson with XYZ realty sells one of non-agent for the buyer and an agent for
XYZ's listings. There is no buyer broker con- the seller
tract, but the buyer has been working with
XYZ's salesperson for 6 months. XYZ is a....
10. For a buyer to be represented as a client, signed written agency agreement repre-
Idaho real estate law requires there to be a: sentation agreement
11. An agency relationship is FIRST created signs an exclusive buyer representation
when the buyer agreement
1/7
, Module 1 - Idaho Real Estate - Exam Study Questions
Study online at https://quizlet.com/_8grv8c
12. Disclosing sales prices of a residential prop- not a violation of statue
erty is
13. Assigned Agency only applies under limited dual agency
14. The seller tells his broker there may be po- Inform all potential purchasers
tential cancer causing material in the insula-
tion. the listing broker should:
15. The Sellers inform their agent they must sell Only with permission from the seller
quickly because of a job transfer. The listing
broker can disclose:
16. While working at Brokerage A, an agent Must maintain former client confidentiality
learns confidential info about one of a
client's listings. The agent then moved to
Brokerage B and found a buyer for that list-
ing. The agent:
17. If money spent on a property will add to the capital improvement
property's value and/or prolong the proper-
ties life, it is called:
18. The actual taxable profits received by per- Capital Gains
sons selling their investment property is
known as
19. The difference between the amount owed Equity
on the property and the market value is:
20. When the supply of single family homes in- Decrease
creases, the prices tend to:
21. Employment and wage levels
2/7
