Iowa Real Estate Exam Prep |199 Questions and Answers
In Iowa, who administers real estate license law? - -Iowa Real Estate Commission
-The members of the Iowa Real Estate Commission are appointed by the - -Governor,
subject to senate approval
-The real estate commission has the authority to - -Make and enforce the rules by which
all real estate licensees must abide
-The Iowa Real Estate Commission may undertake an investigation of a licensee based on
all of the following grounds EXPECT - -A phone complaint from the public
-Which statement about the Iowa Real Estate Commission is true? - -An independent
testing company administers the examinations taken for real estate licensing
-The commission has the power to revoke a salesperson's license, if the salesperson - -
deposits a tenant's rental check in his or her own bank account and then writes a personal
check to the landlord
-A housing discrimination charge based on a violation of the Iowa Civil Rights Act must be
filed with the Iowa Civil Rights Commission within - -180 Days
-A licensee changes his or her personal residence. Which of the following is true? - -The
commission must be notified in writing of a change of residence or mailing address
-When the real estate commission sends a Notice of Hearing to a licensee, the notice
includes all the following EXCEPT a - -statement of the possible punishments
-If a person cannot find employment as a salesperson in a community, the commission has
the authority to waive the experience requirement and allow the person to take the
broker's exam after the candidate - -completes a required broker pre-licensing education
-The Iowa Real Estate Commission can investigate a licensee for all of the following
EXCEPT - -Profession Competency
-Regarding errors and omissions insurance, which of the following statements is TRUE? - -
The real estate commission determines the minimum limited of coverage, deductibles, and
permissible exceptions
-The real estate commission occasionally receives written complaints that lack clarity and,
therefore, may be refused a hearing. Which of the following is grounds for a hearing? - -
Revocation of any professional license
, -The mix of licensed and unlicensed members of the real estate commission is - -five
licensed and two unlicensed
-A real estate commissioner will server for a term of - -three years
-If a salesperson member of the Iowa Real Estate Commission elects to become a broker-
associate during her appointment to the commission she - -may complete her term as a
salesperson, but lose eligibility for reappointment as a salesperson if she is the only
salesperson member
-The Iowa Real Estate Commission - -member is not allowed to hold any other elective or
appointed state or federal office simultaneously
-By state law, the Iowa Real Estate Commission may NOT - -adopt rules to establish title
insurance in Iowa
-Members of the commission are entitled to - -Actual expenses plus a stipend for each day
of service
-The commission seal is used to authenticate - -the real estate commission's proceedings
and copies of paper used in court
-In the preparation of a real estate hearing, the power to execute and sign subpoenas that
require the attendance and testimony of any witness and the handover of any paper or
books is given to the - -The Real Estate Commission
-Disobedience to a real estate commission subpoena is considered - -Contempt of court
-Witnesses subpoenaed by the Iowa Real Estate Commission are entitled to - -The same
fees and mileage as in judicial proceedings for civil cases
-At least annually, the Iowa Real Estate Commission publishes, and mails upon request, the
names of all licensees licensed in Iowa and the names - -of those whose licenses have been
suspended or revoked within the last year
-The Iowa Real Estate Education Fund is created as a financial assurance mechanism to
assist in providing an education director and establishing and maintaining a real estate
education program at - -The University of Northern Iowa
-The Iowa Real Estate Commission specifically will NOT get involved with a dispute over -
-Commissions between cooperating real estate firms
-A complaint has been filed against a licensee. The commission has determined that a
contested case hearing must be held. The commission must send a notice of the hearing
along with a statement of the charges at LEAST - -20 days before the hearing
, -A licensee has received a notice of a hearing. The licensee must acknowledge receipt of
the notice within - -10 days
-A complaint filed with the real estate commission - -must contain a concise statement of
the facts
-Which of the following is TRUE regarding informal discussions conducted by the
commission? - -A licensee's employing broker is always invited
-The notice of a commission hearing contains all of the following EXCEPT - -authorized
penalties that the commission may impose
-All of the following factors are among those which the commission may consider in
determining the nature and severity of disciplinary sanctions imposed against a licensee
EXCEPT the - -relative seriousness of the violation as it relates to other real estate agents
-Engaging in activities requiring a license while a license is inactive is a violation for which
a civil penalty may be imposed in the amount of - -$2,500
-Which of the following is NOT a penalty available to the commission - -30 days in jail
-An active salesperson's license must be kept in the custody of the - -broker
-A salesperson sold a property when she was actively working for a broker. When she left
the company, the broker refused to pay her when the transaction closed. In this case, the
commission will - -do nothing
-The Iowa Fair Housing Act would prohibit discrimination in the sale of all the following
EXCEPT - -A pontoon boat
-In Iowa, who of the following would need to be a licensed real estate broker or
salesperson? - -A person accepting a referral fee from a licensed real estate agent
-Which of the following activities requires a real estate license? - -A company that, for a fee
procures tenants for landlords
-In Iowa, a partnership, association, or corporation will be granted a license only if - -every
member and/or officer actively participating in the brokerage business has a broker's or
salesperson's license
-"Engaging in the real estate business" consists of acting for another for a fee in all of the
following activities EXCEPT - -selling of mobile homes
-In engaged in the sale and closing of a real estate transaction, which of the following
persons are exempt from Iowa's licensing requirement? - -Attorney's-at-law
In Iowa, who administers real estate license law? - -Iowa Real Estate Commission
-The members of the Iowa Real Estate Commission are appointed by the - -Governor,
subject to senate approval
-The real estate commission has the authority to - -Make and enforce the rules by which
all real estate licensees must abide
-The Iowa Real Estate Commission may undertake an investigation of a licensee based on
all of the following grounds EXPECT - -A phone complaint from the public
-Which statement about the Iowa Real Estate Commission is true? - -An independent
testing company administers the examinations taken for real estate licensing
-The commission has the power to revoke a salesperson's license, if the salesperson - -
deposits a tenant's rental check in his or her own bank account and then writes a personal
check to the landlord
-A housing discrimination charge based on a violation of the Iowa Civil Rights Act must be
filed with the Iowa Civil Rights Commission within - -180 Days
-A licensee changes his or her personal residence. Which of the following is true? - -The
commission must be notified in writing of a change of residence or mailing address
-When the real estate commission sends a Notice of Hearing to a licensee, the notice
includes all the following EXCEPT a - -statement of the possible punishments
-If a person cannot find employment as a salesperson in a community, the commission has
the authority to waive the experience requirement and allow the person to take the
broker's exam after the candidate - -completes a required broker pre-licensing education
-The Iowa Real Estate Commission can investigate a licensee for all of the following
EXCEPT - -Profession Competency
-Regarding errors and omissions insurance, which of the following statements is TRUE? - -
The real estate commission determines the minimum limited of coverage, deductibles, and
permissible exceptions
-The real estate commission occasionally receives written complaints that lack clarity and,
therefore, may be refused a hearing. Which of the following is grounds for a hearing? - -
Revocation of any professional license
, -The mix of licensed and unlicensed members of the real estate commission is - -five
licensed and two unlicensed
-A real estate commissioner will server for a term of - -three years
-If a salesperson member of the Iowa Real Estate Commission elects to become a broker-
associate during her appointment to the commission she - -may complete her term as a
salesperson, but lose eligibility for reappointment as a salesperson if she is the only
salesperson member
-The Iowa Real Estate Commission - -member is not allowed to hold any other elective or
appointed state or federal office simultaneously
-By state law, the Iowa Real Estate Commission may NOT - -adopt rules to establish title
insurance in Iowa
-Members of the commission are entitled to - -Actual expenses plus a stipend for each day
of service
-The commission seal is used to authenticate - -the real estate commission's proceedings
and copies of paper used in court
-In the preparation of a real estate hearing, the power to execute and sign subpoenas that
require the attendance and testimony of any witness and the handover of any paper or
books is given to the - -The Real Estate Commission
-Disobedience to a real estate commission subpoena is considered - -Contempt of court
-Witnesses subpoenaed by the Iowa Real Estate Commission are entitled to - -The same
fees and mileage as in judicial proceedings for civil cases
-At least annually, the Iowa Real Estate Commission publishes, and mails upon request, the
names of all licensees licensed in Iowa and the names - -of those whose licenses have been
suspended or revoked within the last year
-The Iowa Real Estate Education Fund is created as a financial assurance mechanism to
assist in providing an education director and establishing and maintaining a real estate
education program at - -The University of Northern Iowa
-The Iowa Real Estate Commission specifically will NOT get involved with a dispute over -
-Commissions between cooperating real estate firms
-A complaint has been filed against a licensee. The commission has determined that a
contested case hearing must be held. The commission must send a notice of the hearing
along with a statement of the charges at LEAST - -20 days before the hearing
, -A licensee has received a notice of a hearing. The licensee must acknowledge receipt of
the notice within - -10 days
-A complaint filed with the real estate commission - -must contain a concise statement of
the facts
-Which of the following is TRUE regarding informal discussions conducted by the
commission? - -A licensee's employing broker is always invited
-The notice of a commission hearing contains all of the following EXCEPT - -authorized
penalties that the commission may impose
-All of the following factors are among those which the commission may consider in
determining the nature and severity of disciplinary sanctions imposed against a licensee
EXCEPT the - -relative seriousness of the violation as it relates to other real estate agents
-Engaging in activities requiring a license while a license is inactive is a violation for which
a civil penalty may be imposed in the amount of - -$2,500
-Which of the following is NOT a penalty available to the commission - -30 days in jail
-An active salesperson's license must be kept in the custody of the - -broker
-A salesperson sold a property when she was actively working for a broker. When she left
the company, the broker refused to pay her when the transaction closed. In this case, the
commission will - -do nothing
-The Iowa Fair Housing Act would prohibit discrimination in the sale of all the following
EXCEPT - -A pontoon boat
-In Iowa, who of the following would need to be a licensed real estate broker or
salesperson? - -A person accepting a referral fee from a licensed real estate agent
-Which of the following activities requires a real estate license? - -A company that, for a fee
procures tenants for landlords
-In Iowa, a partnership, association, or corporation will be granted a license only if - -every
member and/or officer actively participating in the brokerage business has a broker's or
salesperson's license
-"Engaging in the real estate business" consists of acting for another for a fee in all of the
following activities EXCEPT - -selling of mobile homes
-In engaged in the sale and closing of a real estate transaction, which of the following
persons are exempt from Iowa's licensing requirement? - -Attorney's-at-law
