IDAHO REAL ESTATE EXAM QUESTIONS AND
ANSWERS 100% CORRECT!!
How many real estate commissioner are there and how long do they serve?
Answers 5 serving 4 year terms
Which activity does not require a real estate license
Answers Property management
What is the maximum penalty for brokering a real estate deal without a license
Answers Up to $5000 and/or a year in jail
Which organization monitors the code of ethics
Answers NAR
Which activity does IREC not have authority over?
Answers To force a broker to complete contractual obligations
Which of the following activities would the real estate recovery fund NOT pay out
for?
Answers Dishonorable dealings
What are the liability limits of the real estate recovery fund
Answers $10,000 per year per licensee
What is true of a listened if the real estate recovery fund pay out for them ?
Answers Their license is suspended until the judgement is repaid
, An unlicensed personal assistant cannot do which activity?
Answers Verbally quote price to buyer
What is required in all advertisements
Answers Brokerage company name
which activities could result in IREC disciplinary actions
Answers Fradulent misrepresentation, failure to account, seeking kickback from
lender, only proposing to use a double contract, deception in requesting a real
estate license, incompetence.
The Idaho real estate commission may revoke a license
Answers Misrepresentation
If a licensee obtains an e+o policy from a private insurer and does not use a state
sponsored plan what must they have for IREC review
Answers A certificate of coverage signed by a representative of the insurer
The IREC does not have the enforcement power to
Answers Hold hearing regarding potential code of ethics violations
In Idaho the real estate license law and rules is administered by
Answers Idaho real estate commission
How are members of the Idaho real estate commission appointed?
ANSWERS 100% CORRECT!!
How many real estate commissioner are there and how long do they serve?
Answers 5 serving 4 year terms
Which activity does not require a real estate license
Answers Property management
What is the maximum penalty for brokering a real estate deal without a license
Answers Up to $5000 and/or a year in jail
Which organization monitors the code of ethics
Answers NAR
Which activity does IREC not have authority over?
Answers To force a broker to complete contractual obligations
Which of the following activities would the real estate recovery fund NOT pay out
for?
Answers Dishonorable dealings
What are the liability limits of the real estate recovery fund
Answers $10,000 per year per licensee
What is true of a listened if the real estate recovery fund pay out for them ?
Answers Their license is suspended until the judgement is repaid
, An unlicensed personal assistant cannot do which activity?
Answers Verbally quote price to buyer
What is required in all advertisements
Answers Brokerage company name
which activities could result in IREC disciplinary actions
Answers Fradulent misrepresentation, failure to account, seeking kickback from
lender, only proposing to use a double contract, deception in requesting a real
estate license, incompetence.
The Idaho real estate commission may revoke a license
Answers Misrepresentation
If a licensee obtains an e+o policy from a private insurer and does not use a state
sponsored plan what must they have for IREC review
Answers A certificate of coverage signed by a representative of the insurer
The IREC does not have the enforcement power to
Answers Hold hearing regarding potential code of ethics violations
In Idaho the real estate license law and rules is administered by
Answers Idaho real estate commission
How are members of the Idaho real estate commission appointed?
