IOWA REAL ESTATE SALESPERSON
EXAM QUESTIONS AND CORRECT
ANSWERS (VERIFIED ANSWERS) PLUS
RATIONALES 2025
1. What is the primary purpose of the Iowa Real Estate Commission?
A. To promote the interests of real estate brokers
B. To protect the public through regulation of the real estate profession
C. To assist licensees in marketing properties
D. To ensure brokers earn fair commissions
The Commission's primary goal is to protect the public by ensuring
licensees act ethically and professionally.
2. How many members are on the Iowa Real Estate Commission?
A. 3
B. 5
C. 6
,D. 7
Iowa’s Real Estate Commission consists of five members appointed by the
Governor: three licensed brokers and two members of the public.
3. How long is the term of a real estate license in Iowa?
A. 1 year
B. 2 years
C. 3 years
D. 3 years, ending on December 31
Iowa licenses expire every three years on December 31 of the third year.
4. A salesperson in Iowa may only lawfully receive compensation from:
A. The seller directly
B. Their employing broker
C. The buyer
D. Any licensed broker in the state
Salespersons may only be compensated by their supervising or employing
broker, not clients or other brokers.
5. Which of the following is required to maintain an active real estate
license in Iowa?
A. Posting listings weekly
,B. Paying property taxes
C. Obtaining broker sponsorship
D. Completing continuing education requirements
Licensees must complete continuing education every three years to renew
and keep their licenses active.
6. What is the minimum age requirement for an Iowa real estate
salesperson license?
A. 18
B. 19
C. 20
D. 21
Applicants must be at least 18 years old to apply for a salesperson license
in Iowa.
7. When must earnest money be deposited into the trust account by the
broker?
A. Immediately
B. Within 10 calendar days
C. Within 3 business days
D. Within 5 business days
In Iowa, brokers are required to deposit earnest money into the trust
account within five business banking days.
, 8. What type of agency relationship must be disclosed in Iowa?
A. Dual agency only
B. Single agency only
C. All agency relationships
D. Buyer agency only
Iowa law requires all agency relationships—seller, buyer, dual—to be
disclosed in writing.
9. A licensee representing both the buyer and seller in the same
transaction must obtain:
A. Verbal permission
B. Permission from the broker only
C. Written consent from both parties
D. Approval from the Iowa Real Estate Commission
Dual agency is legal in Iowa only if both parties give their informed,
written consent.
10. Which of the following would be a violation of Iowa real estate law?
A. Disclosing latent defects
B. Commingling client funds with personal funds
C. Providing the seller with multiple offers
EXAM QUESTIONS AND CORRECT
ANSWERS (VERIFIED ANSWERS) PLUS
RATIONALES 2025
1. What is the primary purpose of the Iowa Real Estate Commission?
A. To promote the interests of real estate brokers
B. To protect the public through regulation of the real estate profession
C. To assist licensees in marketing properties
D. To ensure brokers earn fair commissions
The Commission's primary goal is to protect the public by ensuring
licensees act ethically and professionally.
2. How many members are on the Iowa Real Estate Commission?
A. 3
B. 5
C. 6
,D. 7
Iowa’s Real Estate Commission consists of five members appointed by the
Governor: three licensed brokers and two members of the public.
3. How long is the term of a real estate license in Iowa?
A. 1 year
B. 2 years
C. 3 years
D. 3 years, ending on December 31
Iowa licenses expire every three years on December 31 of the third year.
4. A salesperson in Iowa may only lawfully receive compensation from:
A. The seller directly
B. Their employing broker
C. The buyer
D. Any licensed broker in the state
Salespersons may only be compensated by their supervising or employing
broker, not clients or other brokers.
5. Which of the following is required to maintain an active real estate
license in Iowa?
A. Posting listings weekly
,B. Paying property taxes
C. Obtaining broker sponsorship
D. Completing continuing education requirements
Licensees must complete continuing education every three years to renew
and keep their licenses active.
6. What is the minimum age requirement for an Iowa real estate
salesperson license?
A. 18
B. 19
C. 20
D. 21
Applicants must be at least 18 years old to apply for a salesperson license
in Iowa.
7. When must earnest money be deposited into the trust account by the
broker?
A. Immediately
B. Within 10 calendar days
C. Within 3 business days
D. Within 5 business days
In Iowa, brokers are required to deposit earnest money into the trust
account within five business banking days.
, 8. What type of agency relationship must be disclosed in Iowa?
A. Dual agency only
B. Single agency only
C. All agency relationships
D. Buyer agency only
Iowa law requires all agency relationships—seller, buyer, dual—to be
disclosed in writing.
9. A licensee representing both the buyer and seller in the same
transaction must obtain:
A. Verbal permission
B. Permission from the broker only
C. Written consent from both parties
D. Approval from the Iowa Real Estate Commission
Dual agency is legal in Iowa only if both parties give their informed,
written consent.
10. Which of the following would be a violation of Iowa real estate law?
A. Disclosing latent defects
B. Commingling client funds with personal funds
C. Providing the seller with multiple offers
