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

Is Iowa a community property state?

A	No
B	Yes

Question 2

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

A	18
B	19
C	21
D	20

Question 3

What term means "going to the state?"

A	Taxation
B	police power
C	escheat
D	Eminent Domain

Question 3 Explanation:

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

Question 4

The license law is administered by

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

Question 5

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

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

Question 6

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

A	Premises
B	acknowledgement
C	novation
D	Habendum

Question 7

Does Iowa allow holographic wills?

A	Yes
B	No

Question 8

Which is not necessary for a valid contract?

A	due date
B	legal object
C	offer
D	acceptance

Question 9

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 10

A Salesperson license fee is

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

Question 11

Which tenancies does Iowa allow?

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

Question 12

Does Iowa have homestead laws?

A	Yes
B	No

Question 13

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

A	Massachusetts
B	New York
C	Georgia
D	Louisiana

Question 14

What is homestead protection?

A	Net cash remaining to investor after sale of investment property
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	The status provided to a home owner's principal residence that protects the home against judgement up to a specified amount.

Question 15

How often is Continuing Education due?

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

Question 16

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

A	Lessee
B	Agent
C	Buyer
D	Lessor

Question 17

How many hours are required?

A	12
B	60
C	40
D	24

Question 18

Does Iowa allow reciprocity with other states?

A	No
B	Yes

Question 19

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 20

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

Question 21

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

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

Question 22

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

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

Question 23

Does Iowa have dower laws?

A	Yes
B	No

Question 24

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 25

Standing trees would be considered

A	Chattels
B	Real property
C	Emblements
D	Personal Property

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Iowa Real Estate Exam Prep

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How to Get a Real Estate License in Iowa

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Iowa Reciprocal Agreements

Iowa Sample Practice Real Estate Exam Questions and Answers

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