Iowa Real Estate Exam Prep- Disciplinary Actions Questions and Answers

In Iowa, who administers real estate license law? a. Iowa Real Estate Commission b. Attorney general's office c. Iowa Association of REALTORS d. Department of Housing and Urban Development (HUD) a. Iowa Real Estate Commission By legislative rule, the Iowa Real Estate Commission administers real estate license law. The attorney general's office handles the sale of out-of-state subdivided land but does not administer license law. The Iowa Association of REALTORS is a trade association whose members must have a real estate license, but not all licensees are REALTORS. HUD is a federal government agency supervising housing issues but not real estate licenses. The members of the Iowa Real Estate Commission are appointed by the a. governor, after a public election b. Iowa Association of REALTORS c. attorney general d. governor, subject to senate approval d. governor, subject to senate approval The governor makes the appointments subject to confirmation by the state senate. The Iowa Association of REALTORS is a trade association that could recommend names to the governor's office, but the governor's office is not bound by its recommendations. Neither the public nor the attorney general's office has the authority to appoint members to the commission. The real estate commission has the authority to a. compose the examination questions on the state exam. b. administer the exams given at the testing sites. c. enact the laws that govern real estate licensees. d. make and enforce the rules by which all real estate licenses must abide. d. make and enforce the rules by which all real estate licenses must abide. The Iowa legislature enacts the law under 5438 of the Iowa Code, whereas the Iowa Real Estate Commission is authorized by state law to write rules and regulations that have the force of law. The exam questions are written by an independent testing service and reviewed by the real estate commission. The testing service administers the exams. QUESTION4 The mix of licensed and unlicensed members of the real estate commission is a. five licensed and two unlicensed. b. four licensed and three unlicensed. c. two licensed and five unlicensed. d. six licensed and three unlicensed a-The answer is five licensed and two unlicensed. The correct mix is five licensed and two unlicensed. The unlicensed members represent the public and give balance to the commission. At least one of the five licensed members must be a salesperson. This mix helps to ensure fair representation for both real estate agents and the public. The members must live in seven different Iowa counties. A real estate commissioner will serve for a term of a. three years. b. two years. c. one year. d. four years. a-The answer is three years. Iowa Code establishes appointments and reappointments as three-year terms. The member may serve three full terms (nine years) or two full terms after completing a partial term. If a salesperson member of the Iowa Real Estate Commission elects to become a broker associate during her appointment to the commission, she a. must resign from the commission. b. will automatically be reappointed as a broker member of the commission. c. may complete her term as a salesperson but will lose eligibility for reappointment as a salesperson if she is the only salesperson member. d. may complete her term as a salesperson and still be eligible for reappointment asa salesperson for another three years. c. The answer is may complete her term as a salesperson but will lose eligibility for reappointment as a salesperson if she is the only salesperson member. At least one of the licensed members of the commission is required to be a licensed salesperson. Should a salesperson become a licensed broker during a term in office, she may complete the term but is eligible for reappointment on the commission as a licensed broker if there are other salespersons serving as members. The salesperson is not required to resign the position. The state does not allow any automatic reappointments.