Indiana State Practice Exam Missed Questions and answers

Indiana broker Ralph hasn't been the most trustworthy real estate agent, and a hearing before the Real Estate Commission found him guilty of several license law violations. Among other things, he's assessed a civil penalty of $3,000. Ralph refuses to pay, even though he has plenty of money to cover it. What's NOT true about this situation? The amount of the civil penalty will increase by 2.5% monthly until it's paid. The civil penalty covers at least three separate violations. The commission can impose multiple sanctions on Ralph, including consumer restitution. The commission can suspend Ralph's license until he pays the $3,000 fine. The amount of the civil penalty will increase by 2.5% monthly until it's paid. Roxanne, an Indiana broker, is under investigation by the Consumer Protection Division. Which of these statements is true? If the Consumer Protection Division decides to hold a hearing on the matter, the state attorney general will represent the state, and the Real Estate Commission will represent Roxanne. If the investigation determines Roxanne has likely violated license law, the Real Estate Commission will hold an evidentiary hearing about the matter. If the investigation finds sufficient evidence to support the complaint against Roxanne, the commission will impose disciplinary action on Roxanne. Roxanne is under a cease-and-desist order while the investigation is ongoing and can't engage in any real estate activities. If the investigation determines Roxanne has likely violated license law, the Real Estate Commission will hold an evidentiary hearing about the matter. You're representing buyer Carrie, who's looking for a small home to call her own. For which of these properties should you expect to review a Seller's Residential Real Estate Sales Disclosure form with her? A newly constructed home that's never been inhabited A single-family home the current occupant has listed as For Sale by Owner A studio condominium selling at a foreclosure auction None; buyers never see this form A single-family home the current occupant has listed as For Sale by Owner Nathan assisted with the purchase of a commercial building that will be used as a community center. He doesn't hold an Indiana real estate license, yet his actions didn't violate any license laws. What must be true about Nathan's situation? He received a commission of less than $1,000. Nathan is a public official whose salaried duties include real estate transactions. Nathan's church purchased the building. The commercial building was valued at less than $500,000. Nathan is a public official whose salaried duties include real estate transactions. In Indiana, which license type allows the licensee to perform real estate activities independently, without supervision from another broker? Associate broker Broker company Broker with more than two years of active real estate experience Managing broker Managing broker Jennifer is the managing broker at Castle Realty. The company has one branch office and is looking at another location for a second branch office. What's NOT true about the commission's requirements for managing all offices at Castle Realty? As the managing broker, Jennifer may not manage a branch office, though she's responsible for the activities of licensees at all offices. Jennifer can act as manager for all branch offices as well as the main office. Jennifer can manage the main office and hire one branch manager to manage both branch offices. Jennifer can manage the main office and hire two branch managers to manage the branch offices. As the managing broker, Jennifer may not manage a branch office, though she's responsible for the activities of licensees at all offices. Gemini Realty has a main office and three branch offices. Ten affiliated brokers work from the main office. Brenda, the managing broker at Gemini Realty, also manages one of the branch offices. Ted and Linda manage the other two branches. There are six affiliated brokers working from each branch office. Whose place of business is considered the main office of Gemini Realty? All licensees who work for Gemini Realty Brenda and the 10 affiliated brokers who work with her there Brenda, Ted, and Linda, as managers The 10 affiliated brokers who work there, but none of the managers Brenda and the 10 affiliated brokers who work with her there