Idaho Real Estate Salesperson Pearson VUE Practice
Exam NEWEST 2025/2026 COMPLETE QUESTIONS
AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+||BRAND NEW!!
What law requires lenders to limit the amount of funds that can be held in
reserves?
A: RESPA
B: Regulation Z - answer-RESPA
RATIONALE
Although lenders are touched and concerned with A, B and D, RESPA sets limits
concerning reserves.
Before the harmful effects of asbestos were known, why was it used?
A: Flame retardant
B: Moisture resistant - answer-A: Flame retardant
RATIONALE
"Asbestos had many advantages over most building materials of its kind. It is
flame retardant. The health hazard is from the dust it produces when
disturbed."
,The subject property has five bedrooms but only one bathroom. What could
this situation be causing? - answer-Functional obsolescence
RATIONALE
When something inherent in the subject property causes the loss of value, the
property suffers from functional obsolescence.
The three most important aspects of a house are:
Location, location, location - answer-Location, location, location
RATIONALE
Where the property is located alone can contribute value to the property
regardless of size, style, or function.
What is market value? - answer-the price the property is likely to bring in an
arm's length transaction
RATIONALE
,Market value is a theoretical price that a property can bring in an arm's length
transaction.
The subject property best describes: - answer-The property for which the value
is sought
RATIONALE
The appraiser does not consider properties on the market. The subject is the
property for which an opinion of value is sought, also called the base.
When a contract is terminated without undoing anything that has been done
so far, the action is called: - answer-Cancellation
RATIONALE
"Cancellation most often occurs when a purchase agreement is terminated."
The essential elements of a real estate contract include offer, acceptance,
valuable consideration and:" - answer-Contractual capacity
What law is being violated when agents from different firms discuss and agree
upon commission rates?term-113
B: Sherman Antitrust Act
, B: RESPA - answer-Sherman Antitrust Act
RATIONALE
"Discussing commission rates with other licensees is regarded as price fixing
under the Sherman Antitrust Law."
Which of the following is not a protected class under the Federal Fair Housing
Act? - answer-CORRECT ANSWER: Ancestry
RATIONALE
"Under the Civil Rights Act of 1866 (and in some states) ancestry is included in
the protected groups. The Federal Fair Housing Act does not designate
ancestry as a protected group."
An out-of-state prospect asks an agent to locate a diverse neighborhood for
him. The agent should: - answer-Explain that research of this nature is beyond
the agent's scope of authority
RATIONALE
"A real estate agent has no duty or obligation to provide demographic data
that would have the effect of limiting housing choices."
Exam NEWEST 2025/2026 COMPLETE QUESTIONS
AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+||BRAND NEW!!
What law requires lenders to limit the amount of funds that can be held in
reserves?
A: RESPA
B: Regulation Z - answer-RESPA
RATIONALE
Although lenders are touched and concerned with A, B and D, RESPA sets limits
concerning reserves.
Before the harmful effects of asbestos were known, why was it used?
A: Flame retardant
B: Moisture resistant - answer-A: Flame retardant
RATIONALE
"Asbestos had many advantages over most building materials of its kind. It is
flame retardant. The health hazard is from the dust it produces when
disturbed."
,The subject property has five bedrooms but only one bathroom. What could
this situation be causing? - answer-Functional obsolescence
RATIONALE
When something inherent in the subject property causes the loss of value, the
property suffers from functional obsolescence.
The three most important aspects of a house are:
Location, location, location - answer-Location, location, location
RATIONALE
Where the property is located alone can contribute value to the property
regardless of size, style, or function.
What is market value? - answer-the price the property is likely to bring in an
arm's length transaction
RATIONALE
,Market value is a theoretical price that a property can bring in an arm's length
transaction.
The subject property best describes: - answer-The property for which the value
is sought
RATIONALE
The appraiser does not consider properties on the market. The subject is the
property for which an opinion of value is sought, also called the base.
When a contract is terminated without undoing anything that has been done
so far, the action is called: - answer-Cancellation
RATIONALE
"Cancellation most often occurs when a purchase agreement is terminated."
The essential elements of a real estate contract include offer, acceptance,
valuable consideration and:" - answer-Contractual capacity
What law is being violated when agents from different firms discuss and agree
upon commission rates?term-113
B: Sherman Antitrust Act
, B: RESPA - answer-Sherman Antitrust Act
RATIONALE
"Discussing commission rates with other licensees is regarded as price fixing
under the Sherman Antitrust Law."
Which of the following is not a protected class under the Federal Fair Housing
Act? - answer-CORRECT ANSWER: Ancestry
RATIONALE
"Under the Civil Rights Act of 1866 (and in some states) ancestry is included in
the protected groups. The Federal Fair Housing Act does not designate
ancestry as a protected group."
An out-of-state prospect asks an agent to locate a diverse neighborhood for
him. The agent should: - answer-Explain that research of this nature is beyond
the agent's scope of authority
RATIONALE
"A real estate agent has no duty or obligation to provide demographic data
that would have the effect of limiting housing choices."
