The members of the Iowa Real Estate Commission are appointed by the

governor subject to senate approval

When the real estate commission sends a Notice of Hearing to a licensee, the notice includes all the following EXCEPT a

statement of the possible punishments

A real estate company has entered into a consensual dual agency agreement with both parties. The licensee may legally

provide comparable market data about seller's property to the buyer

A real estate commissioner can serve on the Real Estate Commission for how long?

9 years or 3 terms whichever is the lesser

A licensee changes his or her personal residence. Which of the following is true?

The commission must be notified within 5 days

The real estate commission has the authority to

make and enforce the rules by which all real estate licensees must abide

An appointed agent working with a buyer wants to purchase a home listed with another appointed agent in the same office

If listing and selling agent are different, no additional disclosure needed

A written appointed agency agreement with a buyer or seller must be determined and all necessary forms executed

prior to an offer being made or accepted by any party to the transaction

All of the following would be considered specific assistance EXCEPT

describing the benefits you could provide them as their agent

The mix of licensed and unlicensed members on the real estate commission is

five licensed and two unlicensed

When a broker gives a listing presentation, a discussion with the seller about agency must happen

at the time of specific assistance

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Study Questions IA 2

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Questions 14

Answers

1
The members of the Iowa Real Estate Commission are appointed by the
Attorney General
Iowa Association of REALTORS®
governor after a public election
governor subject to senate approval
2
When the real estate commission sends a Notice of Hearing to a licensee, the notice includes all the following EXCEPT a
short and plain statement of the matter asserted
statement of the possible punishments
statement that the respondent has a right to be at the hearing
date, time and place
3
In Iowa, who administers real estate license law?
Iowa Association of REALTORS®
Iowa Real Estate Commission
Attorney General's Office
Department of Housing and Urban Development
4
A real estate company has entered into a consensual dual agency agreement with both parties. The licensee may legally
disclose to the seller that the buyer will pay more than the offered amount
provide comparable market data about seller's property to the buyer
provide buyer's financial qualifications to the seller
disclose the seller's motivation for selling
5
A real estate commissioner can serve on the Real Estate Commission for how long?
3 years
Until they retire
9 years
9 years or 3 terms whichever is the lesser
6
A licensee changes his or her personal residence. Which of the following is true?
It doesn't matter, they just need to know the business address
The commission must be notified the next time the licensee renews
The commission must be notified within 5 days
The licensee just has to tell their broker
7
The real estate commission has the authority to
enact the laws that govern real estate licensees
administer the exams given at the testing sites
compose the examination questions on the state exam
make and enforce the rules by which all real estate licensees must abide
8
Disobedience to a real estate commission subpoena is considered
a misdemeanor
typical of agents
contempt of court
a felony
9
An appointed agent working with a buyer wants to purchase a home listed with another appointed agent in the same office
The buyer and seller must informed and agree to consensual dual agency
Buyer's appointed agency status must be changed to non-client status
The buyer's agent should refer the buyer to a different brokerage
If listing and selling agent are different, no additional disclosure needed
10
A written appointed agency agreement with a buyer or seller must be determined and all necessary forms executed
at the time specific assistance is provided
prior to an offer being made or accepted by any party to the transaction
at any time after a purchase and sale agreement is executed by the parties
no later than the closing
11
All of the following would be considered specific assistance EXCEPT
finding out why they are moving
finding out how much they want to spend
describing the benefits you could provide them as their agent
learning their financial qualifications
12
A housing discrimination charge can be filed with the Iowa Civil Rights Commission within
30 days
One year
Two years
180 days
13
The mix of licensed and unlicensed members on the real estate commission is
it doesn't matter if anyone is licensed
five licensed and two unlicensed
4 licensed and 5 unlicensed
9 licensed
14
When a broker gives a listing presentation, a discussion with the seller about agency must happen
at the same time the listing agreement is signed
at the time of specific assistance
during the time ministerial acts were provided
at the beginning of their first personal meeting

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