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:
(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:
