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

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

Question 2

Which is not necessary for a valid contract?

A	offer
B	legal object
C	acceptance
D	due date

Question 3

What is homestead protection?

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

Question 4

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 5

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 6

Does Iowa allow holographic wills?

A	Yes
B	No

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

How many hours are required?

A	24
B	60
C	12
D	40

Question 9

Standing trees would be considered

A	Personal Property
B	Emblements
C	Real property
D	Chattels

Question 10

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

A	Massachusetts
B	Louisiana
C	Georgia
D	New York

Question 11

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 a Bachelors degree
C	Must be 25 or older
D	Must have lived in the state for more than a year

Question 12

Which tenancies does Iowa allow?

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

Question 13

Is Iowa a community property state?

A	Yes
B	No

Question 14

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 15

A Salesperson license fee is

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

Question 16

What term means "going to the state?"

A	escheat
B	Taxation
C	Eminent Domain
D	police power

Question 16 Explanation:

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

Question 17

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	None; the broker may only collect compensation from one party to a transaction
D	In most circumstances, except when the buyer and seller are related

Question 18

Does Iowa have homestead laws?

A	No
B	Yes

Question 19

Does Iowa allow reciprocity with other states?

A	Yes
B	No

Question 20

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

A	acknowledgement
B	Habendum
C	novation
D	Premises

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

How often is Continuing Education due?

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

Question 23

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

A	20
B	21
C	18
D	19

Question 24

Does Iowa have dower laws?

A	No
B	Yes

Question 25

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

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

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Iowa Real Estate Exam Prep

IA Salesperson Practice Exam

How to Get a Real Estate License in Iowa

What Do I Get with the Iowa Real Estate Exam Prep?

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Iowa Reciprocal Agreements

Iowa Sample Practice Real Estate Exam Questions and Answers

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