INDIANA REAL ESTATE BROKER PRE-LICENSE (UNIT 15) EXAM QUESTIONS AND CORRECT ANSWERS (100% VERIFIED GRADE A+) 2026/2027 UPDATED!!

INDIANA REAL ESTATE BROKER PRE-LICENSE
(UNIT 15) EXAM QUESTIONS AND CORRECT
ANSWERS (100% VERIFIED GRADE A+)
2026/2027 UPDATED!!

Whatgisgagmanaginggbroker:g-gCORRECTgANSWER-
IngIndiana,gagmanaginggbrokergisgaglicensedgbrokergwhogisgresponsiblegforgthegactionsgofgtheglicenseesgwho
garegaffiliatedgwithghimgorgher.



Further,gagbrokergingagpartnership,gcorporation,gorgaglimitedgliabilitygcompanygisgagmanaginggbrokergandgm
aygactgonlygasgone.

OngJulyg1,g2014,gallgprincipalgbrokersgbecamegmanaginggbrokers,gagtitlegchangegbroughtgaboutgbyglegislativ
egchanges.



Requirementsgofgagmanaginggbroker:g-gCORRECTgANSWER-hasgheldgagbroker'sglicensegforgatgleastg2gyears

hasgtakengandgpassedgatgleastg24ghoursgofgCommission-approvedgbrokergmanagementgcourses

hasgsubmittedgproofgofgpassinggthegrequiredgcoursesgtogthegCommission

isgagresidentgofgIndiana,gunless

allgofgthegmanaginggbroker'sgaffiliatedglicenseesgaregnotgresidentsgofgIndiana

completesg12ghoursgofgcontinuinggeducationgeachgyear,gfromgJulyg1gofgonegcalendargyeargtogJuneg30gofgthe
gfollowinggcalendargyear




Responsibilitiesgofgagmanaginggbroker:g-gCORRECTgANSWER-
Thegmanaginggbrokergisgresponsiblegforgtheglicenseesgassignedgtoghim/her.

Ifgthegmanaginggbrokergmaintainsgtwogorgmoregofficesgforgtheglicensees,ghe/shegisgalsogresponsiblegtognotif
ygthegCommissiongofgthegnamegandgaddressgofgthegassociatedglicenseegwhogmanagesgeachgoffice.

Thegpartnership,gcorporate,gorglimitedgliabilitygcompanygmanaginggbrokergmustgdesignategonegofgtheirglice
nsedgbrokersgtogbegthegonegprimarilygresponsiblegtogthegCommissiongforgtheirgactions.

Thisgbrokergmustgbegagpartnergorgcorporategrepresentativegorgaglimitedgliabilitygcompanygmembergorgrepr
esentative.

TheygmustgnotifygthegCommissiongofgthisgdesignation.

Thegmanaginggbrokergmustgmaintaingagtrust/escrowgaccountgforgfundsgthatgbelonggtogothersgbutgaregbein
ggheldgbygthegbrokerage.gThegrequirementsgforgtrust/escrowgaccountsgwillgbegcoveredgingaglatergchapter.

, Managinggbrokergeducationalgrequirements:g-gCORRECTgANSWER-
Thegrequiredg24ghoursgofgbrokergmanagementgcourseworkgtogbecomegagmanaginggbrokergcangbegtakenging
threegseparateg8-hourgcoursesgbrokengdowngasgfollowsgorgcangbegtakengingoneg24-
hourgcoursegtogincludegallgofgthegareasgofgstudy:

Oneg8-hourgcoursegtogincludegthegfollowing:

Introductiongtogbrokeragegmanagement

Brokeragegbusiness

Brokeragegbusinessgmodels

Agencyglaw

Agencygrelationships

Errorsgandgomissionsginsurance

Businessginsurance

Legalgenvironmentgofgrealgestategbrokerage

Indianaglicenseglaw



Oneg8-hourgcoursegtoginclude:Brokeragegoperations

Oneg8-hourgcoursegtoginclude:Rolegofgmanaginggbroker



Continuinggeducationgrequirements:g-gCORRECTgANSWER-
allgactivegbrokersgmustgcompleteg12ghoursgofgcontinuinggeducationgcourseworkgeachgyear.

Forgagmanaginggbroker,g4gofgthoseg12ghoursgmustgbegdedicatedgtogthegnecessarygbusinessgandgmanageme
ntgskillsgandglegalgknowledgegneededgbygagmanaginggbroker.gTheseg4ghoursgofgspecializedgcourseworkgmus
tgbegtakengeachgyeargthegbrokergfunctionsgasgagmanaginggbrokergforganygtimegduringgthegyear.

ThegCommissiongdevelopsgandgapprovesgthegspecializedgcontinuinggeducationgcoursesgforgmanaginggbrok
ers.

Whengapplyinggforglicensegrenewal,gthegmanaginggbrokergmustgcertifyghegorgsheghasgcompletedgtheg12gho
ursgofgrequiredgcontinuinggeducationgcoursework,gincludinggtheg4ghoursgofgspecializedgcourseworkgrequir
edgforgmanaginggbrokers.



Deathgofgmanaginggbroker:g-gCORRECTgANSWER-
Ifgagmanaginggbrokergdiesgorgagpartnershipgisgterminatedgduegtogthegdeathgofgagmanaginggbroker: