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Initial application for a real estate license is administered by:
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Idaho Employment Department
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Idaho Department of Occupational Licensing
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Idaho Real Estate Commission
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Idaho Secretary of State
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The primary purpose of the Idaho Real Estate Commission is to:
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Protect the public and industry
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Defend the public and industry
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Protect private property rights
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Defend complaints against licensees
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Where does the money come from to operate the Idaho Real Estate Commission?
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State of Idaho general fund
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All active licensees
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All licensees
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All brokerage companies
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The Idaho Real Estate Commission consists of how many member commissioners?
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3
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4
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5
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6
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The Idaho Real Estate Commission generally meets:
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Monthly
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Quarterly
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Semi-annually
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Annually
Frage 6
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Course make-up work is allowed ONLY for:
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Any certified IREC approved course
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Continuing Education (CE) courses
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Any pre-license courses
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All pre-license and CE courses
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Prelicense courses must be successfully completed prior to license application within:
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1 year
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3 years
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5 years
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10 years
Frage 8
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Change of personal information (must) be submitted to the IREC no later than:
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1 week
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10 days
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1 month
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30 days
Frage 9
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How many IREC Core classes are required for license renewal:
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One
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Two
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Three
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Four
Frage 10
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An independent E&O insurance policy must have an A.M. Best rating of at least:
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A
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B+
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B
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C+
Frage 11
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License renewal must be received no later than ___________ of the expiration date at the Commission office in Boise.
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Midnight
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5 p.m. Pacific time
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5 p.m. Mountain time
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Post marked by 5 p.m.
Frage 12
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What is the minimum pass rate score for a broker taking the Idaho state exam?
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65%
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70%
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75%
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80%
Frage 13
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Who is required to have a real estate license to practice real estate?
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Anyone assisting another to sell their property.
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Anyone, with expectation of compensation, while acting for another, offers to list property for sale.
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Anyone, with expectation of compensation, offers to sell personal property.
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Anyone, for compensation, leases a commercial building.
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An example of an exception to being required to have a real estate license is:
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Purchasing real property for another for compensation,
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Listing real property for another for compensation,
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Negotiations for another an option for real property for compensation,
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Offering property management or leasing for another for compensation.
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What's the minimum age to secure a real estate license in Idaho?
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16
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18
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20
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21
Frage 16
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Minimum elective hours of Continuing Education required to renew a real estate license are:
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16 hours plus 1 Core
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16 hours including 2 Core
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12 hours plus 1 Core
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12 hours plus 2 Core
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When does a real estate license expire?
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The last day of licensees birth month
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The first day of licensees birth month
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2 years from the date of licensing
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2 years from date of completing CE education
Frage 18
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A student, whose birthday is June 5, passed their state exam on April 8, and applied for and received their license on April 18, 2014. When does their license expire?
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April 18, 2015
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June 5, 2015
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June 30, 2015
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April 18, 2016
Frage 19
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When do initial fingerprints expire prior to receiving a real estate license?
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Fingerprints are fingerprints, they don't expire
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Fingerprint results are valid for 6 months
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Fingerprints are valid for 1 year
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Fingerprints aren't required if the license applicant already has them
Frage 20
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What type of insurance is required for an inactive real estate licensee?
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Errors & Omissions Insurance
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Automobile liability insurance
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Personal liability insurance
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None
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To be effective, tail coverage for E&O insurance must be purchased within how many days from cancellation?
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Tail coverage is automatically included with E&O insurance
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60 days from cancellation
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90 days from cancellation
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120 days from cancellation
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What document needs to accompany an application for real estate license?
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Verification of taking a license exam
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Fingerprints taken a year ago
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Proof of automobile insurance
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High school diploma or equivalency
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