1|Page
Indiana Real Estate Managing Broker Exam Questions
with Correct Verified Answers and explanations
LATEST THIS YEAR -JUST RELEASED.pdf||NEWEST
EXAM!!!
Mandy is an office manager for Woodside Real Estate, a
local Indiana real estate firm. Her responsibilities include
coordinating the flow of paperwork through the office,
preparing forms and advertising copy, and hiring and
supervising clerical personnel. Which of the following
statements is true regarding Mandy? - Answer-Mandy is
exempt from real estate licensure.
Anne successfully completed her Indiana prelicense real
estate education requirement on October 1, 2003. How
long does she have to take the state exam before having
to retake the prelicense course? - Answer-Anne has one
year from the time she completed the prelicense course to
take the exam.
Peter offered to help his neighbor, Claire, sell her house 3
weeks before he began his prelicense real estate course.
Claire agreed to pay Peter a 5 percent commission. Claire
accepted an offer on the house while Peter was enrolled in
the prelicense course, and the property closed the day
,2|Page
before Peter took the state licensing exam. Claire changed
her mind, however, and refused to pay Peter the 5 percent
commission. May Peter sue Claire to recover payment? -
Answer-No. Indiana state law prohibits lawsuits to collect
commission unless the injured party was properly
licensed.
What must a real estate corporation do to obtain a
corporation license in Indiana? - Answer-The corporation
must have at least one broker licensed in Indiana who is a
shareholder.
Claire is the on-site property manager for Sunny
Apartments. She is responsible for negotiating leases for
the apartments. Craig, a licensed Indiana broker, is
Claire's supervisor. Which of the following is true regarding
Claire's position? - Answer-Claire is exempt from licensing
requirements.
Which of the following activities does not require a valid
Indiana real estate license in order to be compensated? -
Answer-Performing a written home inspection does not
require a valid Indiana real estate license.
, 3|Page
A partnership received its first Indiana license renewal on
July 1, 2018. When will the license expire (unless renewed
earlier)? - Answer-The partnership's license will expire in
36 months.
Which of the following duties may an unlicensed real
estate assistant NOT perform? - Answer-an unlicensed
assistant may NOT explain contract documents to
prospective buyers.
Carol is an unlicensed assistant at Vivian's real estate
firm. Carol recently worked late nights and weekends to
help ensure the successful closing of a difficult transaction.
Her work included calling the prospective buyers and
encouraging them to accept the counteroffer. The sale
went through, largely because of Carol's efforts. Vivian
wants to pay Carol a commission. Which of the following
statements is true regarding this situation under Indiana
law? - Answer-Vivian may not pay a commission to Carol
under this situation.
Nelson wishes to obtain an Indiana reciprocal real estate
license. Which of the following is true regarding this
situation? - Answer-Nelson may qualify because his
original state has real estate laws similar to Indiana.
Indiana Real Estate Managing Broker Exam Questions
with Correct Verified Answers and explanations
LATEST THIS YEAR -JUST RELEASED.pdf||NEWEST
EXAM!!!
Mandy is an office manager for Woodside Real Estate, a
local Indiana real estate firm. Her responsibilities include
coordinating the flow of paperwork through the office,
preparing forms and advertising copy, and hiring and
supervising clerical personnel. Which of the following
statements is true regarding Mandy? - Answer-Mandy is
exempt from real estate licensure.
Anne successfully completed her Indiana prelicense real
estate education requirement on October 1, 2003. How
long does she have to take the state exam before having
to retake the prelicense course? - Answer-Anne has one
year from the time she completed the prelicense course to
take the exam.
Peter offered to help his neighbor, Claire, sell her house 3
weeks before he began his prelicense real estate course.
Claire agreed to pay Peter a 5 percent commission. Claire
accepted an offer on the house while Peter was enrolled in
the prelicense course, and the property closed the day
,2|Page
before Peter took the state licensing exam. Claire changed
her mind, however, and refused to pay Peter the 5 percent
commission. May Peter sue Claire to recover payment? -
Answer-No. Indiana state law prohibits lawsuits to collect
commission unless the injured party was properly
licensed.
What must a real estate corporation do to obtain a
corporation license in Indiana? - Answer-The corporation
must have at least one broker licensed in Indiana who is a
shareholder.
Claire is the on-site property manager for Sunny
Apartments. She is responsible for negotiating leases for
the apartments. Craig, a licensed Indiana broker, is
Claire's supervisor. Which of the following is true regarding
Claire's position? - Answer-Claire is exempt from licensing
requirements.
Which of the following activities does not require a valid
Indiana real estate license in order to be compensated? -
Answer-Performing a written home inspection does not
require a valid Indiana real estate license.
, 3|Page
A partnership received its first Indiana license renewal on
July 1, 2018. When will the license expire (unless renewed
earlier)? - Answer-The partnership's license will expire in
36 months.
Which of the following duties may an unlicensed real
estate assistant NOT perform? - Answer-an unlicensed
assistant may NOT explain contract documents to
prospective buyers.
Carol is an unlicensed assistant at Vivian's real estate
firm. Carol recently worked late nights and weekends to
help ensure the successful closing of a difficult transaction.
Her work included calling the prospective buyers and
encouraging them to accept the counteroffer. The sale
went through, largely because of Carol's efforts. Vivian
wants to pay Carol a commission. Which of the following
statements is true regarding this situation under Indiana
law? - Answer-Vivian may not pay a commission to Carol
under this situation.
Nelson wishes to obtain an Indiana reciprocal real estate
license. Which of the following is true regarding this
situation? - Answer-Nelson may qualify because his
original state has real estate laws similar to Indiana.
