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