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 allow holographic wills?

A	No
B	Yes

Question 2

Which tenancies does Iowa allow?

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

Question 3

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

A	Lessee
B	Lessor
C	Buyer
D	Agent

Question 4

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 5

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

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

Question 6

What is a holographic will?

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

Question 7

A Salesperson license fee is

A	$150
B	$175
C	$101
D	$100

Question 8

Which is not necessary for a valid contract?

A	offer
B	acceptance
C	legal object
D	due date

Question 9

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 have legal representation
C	Only when both buyer and seller give informed consent to this arrangement
D	None; the broker may only collect compensation from one party to a transaction

Question 10

The license law is administered by

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

Question 11

Is Iowa a community property state?

A	No
B	Yes

Question 12

What term means "going to the state?"

A	escheat
B	Taxation
C	police power
D	Eminent Domain

Question 12 Explanation:

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

Question 13

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

A	novation
B	Habendum
C	Premises
D	acknowledgement

Question 14

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

A	21
B	20
C	18
D	19

Question 15

Does Iowa have homestead laws?

A	No
B	Yes

Question 16

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	The status provided to a home owner's principal residence that protects the home against judgement up to a specified amount.
D	Gradual subsidence of waters, leaving dry land

Question 17

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

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

Question 18

Standing trees would be considered

A	Chattels
B	Real property
C	Personal Property
D	Emblements

Question 19

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 1% for each point charged
D	The interest rate on the mortgage loan has been lowered by 2% for each point charged

Question 20

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	Convicted of a felony.
C	Being authorized to accept and excessive commission.
D	Depositing their clients' escrow money into a personal account

Question 21

How often is Continuing Education due?

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

Question 22

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

A	Georgia
B	Massachusetts
C	Louisiana
D	New York

Question 23

Does Iowa allow reciprocity with other states?

A	Yes
B	No

Question 24

How many hours are required?

A	24
B	12
C	40
D	60

Question 25

Does Iowa have dower laws?

A	Yes
B	No

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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 Sample Practice Real Estate Exam Questions and Answers

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