Indiana Real Estate Exam Prep

IN Salesperson Practice Exam

Our Indiana Real Estate Exam Preparation guide will have you quickly prepared for your upcoming Salesperson License Exam. We have helped license over 50,000 students with an exam pass rate of over 95%. The practice exam questions and answers were created by industry experts and are constantly updated to Indiana’s licensing requirements. We stand by our real estate practice exams and offer an exam pass guarantee.

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Indiana License Requirements

You need to be 18 years of age
Must not have a conviction for any crime that would indicate the propensity to endanger the public.
The applicant needs to take the prescribed 90-hour prelicensure courses.
The applicant then must successfully pass the real estate exam within one year from completion of the courses. Salesperson applicants need to apply for their license within 120 days of passing the exam and pay the $35 license fee. The biannual renewal fee is also $35.

For more information on state requirements click here.

Indiana Sample Practice Real Estate Exam Questions and Answers

Indiana State Section

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Question 1

Mortgage "discount" points only apply if which of the following conditions are met?

A	The interest rate on the mortgage loan has been lowered by 1% for each point charged
B	The interest rate on the mortgage loan has been lowered by 2% for each point charged
C	The seller has agreed to pay 1% of the closing costs
D	The loan does not close and the buyer owes the lender for services rendered

Question 2

What is homestead protection?

A	Gradual subsidence of waters, leaving dry land
B	Net cash remaining to investor after sale of investment property
C	The estimated value that an asset will have at then end of it's useful life
D	The status provided to a home owner's principal residence that protects the home against judgement up to a specified amount.

Question 3

Does Indiana allow reciprocity with other states?

A	No
B	Yes

Question 4

Which is not necessary for a valid contract?

A	acceptance
B	Legal object
C	due date
D	Offer

Question 5

Which of the following is required for an applicant to receive a Real Estate License?

A	Must have a Bachelors degree
B	Must have lived in the state for more than a year
C	Must be 25 or older
D	Must sit and pass the required exam

Question 6

What term means "going to the state?"

A	Taxation
B	escheat
C	police power
D	Eminent Domain

Question 7

Standing trees would be considered

A	Chattels
B	Personal Property
C	Real property
D	Emblements

Question 8

Which of the following does not participate in reciprocity with Indiana?

A	Connecticut
B	Florida
C	Georgia
D	New York

Question 9

Which of the following is a landlord's option for a tenant not paying rent?

A	shut off the power
B	unlawful detainer action in court
C	shutoff the gas
D	lock the tenant out of the apartment

Question 10

In what circumstances, if any, can a broker in Indiana who is serving as an intermediary representing both parties collect compensation from both the buyer and the seller?

A	Only when both buyer and seller give informed consent to this arrangement
B	None; the broker may only collect compensation from one party to a transaction
C	Only when both buyer and seller have legal representation
D	In most circumstances, except when the buyer and seller are related

Question 11

Whom is responsible for maintaining a habitable property and for complying with local housing and building codes?

A	Lessor
B	Agent
C	Buyer
D	Lessee

Question 12

Which of the following isn't part of a deed?

A	acknowledgement
B	novation
C	Premises
D	Habendum

Question 13

A Salesperson license fee is

A	$50
B	$35
C	$25
D	$20

Question 14

Which of the following would not put a sales person in jeopardy of losing their license in Indiana?

A	Being authorized to accept and excessive commission.
B	Convicted of a felony
C	Placing an ad claiming to be a broker when they are not.
D	Depositing his/her clients escrow money into a personal account

Question 15

Is Indiana a community property state?

A	No
B	Yes

Question 16

How soon can a broker receive a commission check after a closing in Indiana?

A	When the buyer moves in.
B	Once the offer sheet is signed.
C	After the transaction is completed and funded.
D	Once the seller agrees to the price.

Question 17

Does Indiana offer holographic wills?

A	Yes
B	No

Question 18

Does Indiana have homestead protection?

A	Yes
B	No

Question 19

How many hours of pre licensing courses is required when applying for your brokers license?

A	90
B	12
C	14
D	10

Question 20

Does Indiana have dower laws?

A	No
B	Yes

Question 21

Which tenancies does Indiana allow?

A	neither
B	joint tenancy
C	both
D	Tenancy by the entirery

Question 22

How often is Continuing Education due?

A	Every year
B	Every 3 years
C	Every 4 years
D	Every 2 years

Question 23

The license law is administered by

A	Commission for Real Estate
B	Indiana Department of Real Estate
C	Indiana Real Estate Commission
D	Department of Real Estate

Question 24

What is a holographic will?

A	a will that displays in 3D
B	a will and testament that has been entirely handwritten and signed by the testator.
C	a will that has been approved by each family member.
D	a standard boiler plate will.