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

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

A	Connecticut
B	Georgia
C	Florida
D	New York

Question 2

Is Indiana a community property state?

A	No
B	Yes

Question 3

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

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

Question 4

The license law is administered by

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

Question 5

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

A	Agent
B	Lessee
C	Buyer
D	Lessor

Question 6

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

A	12
B	90
C	10
D	14

Question 7

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

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

Question 8

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

A	Habendum
B	acknowledgement
C	Premises
D	novation

Question 9

What is a holographic will?

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

Question 10

Does Indiana have dower laws?

A	No
B	Yes

Question 11

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

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

Question 12

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

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

Question 13

Does Indiana allow reciprocity with other states?

A	Yes
B	No

Question 14

Which tenancies does Indiana allow?

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

Question 15

Does Indiana offer holographic wills?

A	No
B	Yes

Question 16

Standing trees would be considered

A	Chattels
B	Real property
C	Personal Property
D	Emblements

Question 17

How often is Continuing Education due?

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

Question 18

What term means "going to the state?"

A	escheat
B	Taxation
C	Eminent Domain
D	police power

Question 19

Which is not necessary for a valid contract?

A	Offer
B	acceptance
C	due date
D	Legal object

Question 20

What is homestead protection?

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

Question 21

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

Question 22

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

Question 23

A Salesperson license fee is

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

Question 24

Does Indiana have homestead protection?

A	No
B	Yes

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