Iowa Real Estate Exam Prep Questions
and answers
Corn stored in a grain bin is considered real property - ANSWER>>False
Kitchen cabinets, a furnace, or bathroom appliances are considered real property
after they have been installed as improvements to the home, even though at one
time they were personal property - ANSWER>>True
A dishwasher installed in the cabinets does not need to be excluded from the
listing if the owner is planning on taking the washer with them. It can be excluded
on the sales agreement. - ANSWER>>False
It is not necessary for a licensee to be under the control of a real estate broker -
ANSWER>>False
A water well pump would be considered personal property and could be taken
with the seller - ANSWER>>False
The sudden replacement of land by a landslide is called Avulsion - ANSWER>>True
Riparian water rights are the right enjoyed by landowners located next to lakes -
ANSWER>>False
Appointees to the Iowa Real Estate Commission must be approved by the Iowa
Senate - ANSWER>>True
Littoral rights are rights enjoyed by landowners located next to rivers and streams
- ANSWER>>False
Real property is divided into two categories; Physical and economic -
ANSWER>>True
,Landowners can sell air rights or subsurface rights and retain the surface rights -
ANSWER>>True
A term that has been given to expanding exposure is "Farming." Some good
examples of "Farming" are as followed: - ANSWER>>1.) Door knocking in local
neighborhood
2.)putting business cards on local business bulletin boards
3.)Joining breakfast clubs, service clubs and other casual organizations
The bundle of rights that accompanies real property ownership include 5 rights -
ANSWER>>True
The owner of land also owns the rights to the subsurface and the air rights above
the land - ANSWER>>True
All licensees have the right to call themselves REALTORS - ANSWER>>False
What REALTOR associations must you belong to have the ability to call yourself a
REALTOR? - ANSWER>>The local, state and national association
Is it possible for a licensee to belong to more than one MLS - ANSWER>>Yes
No special insurance is necessary for real estate licensees to conduct business in
Iowa - ANSWER>>False
A growing corn crop is considered part of the land - ANSWER>>True
A salesperson must take additional required courses before a brokers license can
be obtained - ANSWER>>True
You need a special real estate license to manage an apartment house -
ANSWER>>False
, ARELLO stands for Association of Real Estate License Law Officials -
ANSWER>>True
A broker may opt out of IDX and still display the listings of other companies on his
website - ANSWER>>False
A commission is earned when the agent produces a ready, willing, and able buyer
- ANSWER>>True
A commission may still be earned even though a seller and a buyer get together
and decide to cancel the deal - ANSWER>>True
A commission may still be earned even though the seller was unable to deliver
possession in a reasonable time - ANSWER>>True
A company can require you to buy from them if they sell your house -
ANSWER>>False
A contract may not be denied legal effect or enforceability solely because an
electronic record was used in its formation. - ANSWER>>True
A licensed assistant is paid by the broker - ANSWER>>True
A licensee employing an assistant can pay that assistant a percentage of their
earned commissions - ANSWER>>False
A personal assistant is permitted to submit data on listings to a MLS -
ANSWER>>True
A real estate agent is required to check the Do-Not-Call registry every 31 days to
have any defense of a violation - ANSWER>>True
and answers
Corn stored in a grain bin is considered real property - ANSWER>>False
Kitchen cabinets, a furnace, or bathroom appliances are considered real property
after they have been installed as improvements to the home, even though at one
time they were personal property - ANSWER>>True
A dishwasher installed in the cabinets does not need to be excluded from the
listing if the owner is planning on taking the washer with them. It can be excluded
on the sales agreement. - ANSWER>>False
It is not necessary for a licensee to be under the control of a real estate broker -
ANSWER>>False
A water well pump would be considered personal property and could be taken
with the seller - ANSWER>>False
The sudden replacement of land by a landslide is called Avulsion - ANSWER>>True
Riparian water rights are the right enjoyed by landowners located next to lakes -
ANSWER>>False
Appointees to the Iowa Real Estate Commission must be approved by the Iowa
Senate - ANSWER>>True
Littoral rights are rights enjoyed by landowners located next to rivers and streams
- ANSWER>>False
Real property is divided into two categories; Physical and economic -
ANSWER>>True
,Landowners can sell air rights or subsurface rights and retain the surface rights -
ANSWER>>True
A term that has been given to expanding exposure is "Farming." Some good
examples of "Farming" are as followed: - ANSWER>>1.) Door knocking in local
neighborhood
2.)putting business cards on local business bulletin boards
3.)Joining breakfast clubs, service clubs and other casual organizations
The bundle of rights that accompanies real property ownership include 5 rights -
ANSWER>>True
The owner of land also owns the rights to the subsurface and the air rights above
the land - ANSWER>>True
All licensees have the right to call themselves REALTORS - ANSWER>>False
What REALTOR associations must you belong to have the ability to call yourself a
REALTOR? - ANSWER>>The local, state and national association
Is it possible for a licensee to belong to more than one MLS - ANSWER>>Yes
No special insurance is necessary for real estate licensees to conduct business in
Iowa - ANSWER>>False
A growing corn crop is considered part of the land - ANSWER>>True
A salesperson must take additional required courses before a brokers license can
be obtained - ANSWER>>True
You need a special real estate license to manage an apartment house -
ANSWER>>False
, ARELLO stands for Association of Real Estate License Law Officials -
ANSWER>>True
A broker may opt out of IDX and still display the listings of other companies on his
website - ANSWER>>False
A commission is earned when the agent produces a ready, willing, and able buyer
- ANSWER>>True
A commission may still be earned even though a seller and a buyer get together
and decide to cancel the deal - ANSWER>>True
A commission may still be earned even though the seller was unable to deliver
possession in a reasonable time - ANSWER>>True
A company can require you to buy from them if they sell your house -
ANSWER>>False
A contract may not be denied legal effect or enforceability solely because an
electronic record was used in its formation. - ANSWER>>True
A licensed assistant is paid by the broker - ANSWER>>True
A licensee employing an assistant can pay that assistant a percentage of their
earned commissions - ANSWER>>False
A personal assistant is permitted to submit data on listings to a MLS -
ANSWER>>True
A real estate agent is required to check the Do-Not-Call registry every 31 days to
have any defense of a violation - ANSWER>>True
