Iowa Real Estate Exam Prep

IA Salesperson Practice Exam

Our Iowa 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 Iowa’s licensing requirements. We stand by our real estate practice exams and offer an exam pass guarantee.

How to Get a Real Estate License in Iowa

If you want to become a licensed real estate salesperson or real estate broker in Iowa, you must register for and complete at least 72 hours of approved classes. Then you will be eligible to take the state’s real estate exam. With our real estate study guides, you will pass the Iowa real estate exam on your first try — we guarantee it.

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Iowa Sample Practice Real Estate Exam Questions and Answers

Iowa State Section

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Question 1

Does Iowa have homestead laws?

A	No
B	Yes

Question 2

How many hours are required?

A	40
B	60
C	24
D	12

Question 3

Which tenancies does Iowa allow?

A	Both
B	Neither
C	Tenancy by the Entirety
D	Joint Tenancy

Question 4

A Salesperson license fee is

A	$100
B	$175
C	$125
D	$150

Question 5

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 status provided to a home owner's principal residence that protects the home against judgement up to a specified amount.
D	The estimated value that an asset will have at then end of it's useful life

Question 6

In what circumstances, if any, can a broker in Iowa 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	None; the broker may only collect compensation from one party to a transaction
C	In most circumstances, except when the buyer and seller are related
D	Only when both buyer and seller give informed consent to this arrangement

Question 7

The license law is administered by

A	Department of Iowa Real Estate
B	Commission of Real Estate in Iowa
C	Iowa Department of Real Estate
D	Iowa Real Estate Commission

Question 8

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

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

Question 9

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

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

Question 10

What term means "going to the state?"

A	escheat
B	police power
C	Eminent Domain
D	Taxation

Question 10 Explanation:

Escheat is if someone dies and there is no one to inherit or no will the property goes to the state.

Question 11

Does Iowa have dower laws?

A	No
B	Yes

Question 12

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 have a Bachelors degree
D	Must sit and pass the required exam

Question 13

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 standard boiler plate will.
D	a will that has been approved by each family member.

Question 14

Standing trees would be considered

A	Personal Property
B	Emblements
C	Chattels
D	Real property

Question 15

How often is Continuing Education due?

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

Question 16

Is Iowa a community property state?

A	Yes
B	No

Question 17

Which of the following is not a state that participates in reciprocity with Iowa?

A	Louisiana
B	New York
C	Georgia
D	Massachusetts

Question 18

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

A	Buyer
B	Lessee
C	Lessor
D	Agent

Question 19

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

A	Habendum
B	acknowledgement
C	novation
D	Premises

Question 20

Does Iowa allow holographic wills?

A	No
B	Yes

Question 21

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

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

Question 22

You must be at least ___ years old to obtain a salesperson license.

A	19
B	20
C	21
D	18

Question 23

Does Iowa allow reciprocity with other states?

A	Yes
B	No

Question 24

Which is not necessary for a valid contract?

A	due date
B	legal object
C	acceptance
D	offer

Question 25

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