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

The license law is administered by

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

Question 2

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

Question 3

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

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

Question 4

Does Iowa have homestead laws?

A	Yes
B	No

Question 5

Does Iowa allow reciprocity with other states?

A	No
B	Yes

Question 6

What is a holographic will?

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

Question 7

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	Net cash remaining to investor after sale of investment property
C	Gradual subsidence of waters, leaving dry land
D	The estimated value that an asset will have at then end of it's useful life

Question 8

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

A	Georgia
B	New York
C	Louisiana
D	Massachusetts

Question 9

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

A	20
B	19
C	21
D	18

Question 10

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

A	Premises
B	Habendum
C	acknowledgement
D	novation

Question 11

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

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

Question 12

A Salesperson license fee is

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

Question 13

Does Iowa allow holographic wills?

A	No
B	Yes

Question 14

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

A	Buyer
B	Lessor
C	Lessee
D	Agent

Question 15

What term means "going to the state?"

A	police power
B	Eminent Domain
C	Taxation
D	escheat

Question 15 Explanation:

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

Question 16

How often is Continuing Education due?

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

Question 17

Which tenancies does Iowa allow?

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

Question 18

Is Iowa a community property state?

A	No
B	Yes

Question 19

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

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

Question 20

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

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

Question 21

Does Iowa have dower laws?

A	Yes
B	No

Question 22

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

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

Question 23

Which is not necessary for a valid contract?

A	legal object
B	acceptance
C	due date
D	offer

Question 24

Standing trees would be considered

A	Personal Property
B	Real property
C	Emblements
D	Chattels

Question 25

How many hours are required?

A	60
B	40
C	24
D	12

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Iowa Real Estate Exam Prep

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Iowa Sample Practice Real Estate Exam Questions and Answers

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