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Real Estate Salesperson Exam — National Portion

Agency (IN): practice questions

Our Real Estate (National) bank has 7 questions on this topic. Here are 5 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Indiana

What does Indiana law say about subagency?

  1. It requires the seller's written consent
  2. It is allowed if offered through the MLS
  3. Licensees may not offer or agree to it
  4. It is allowed only in commercial sales
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C. Licensees may not offer or agree to it — IC 25-34.1-10-17.

Question 2 · Indiana

A licensee may act as a limited agent for both buyer and seller only with what?

  1. The managing broker's oral approval
  2. The written consent of all parties
  3. The seller's consent alone, in writing
  4. Notice filed with the commission
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B. The written consent of all parties — IC 25-34.1-10-12(a).

Question 3 · Indiana

In an in-house agency relationship, whom does the managing broker represent?

  1. Whichever party first signed with the broker company
  2. Only the seller, as head of the listing company
  3. No party, unless personally representing a client
  4. Both parties, as a limited agent for each of them
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C. No party, unless personally representing a client — IC 25-34.1-10-12.5(a).

Question 4 · Indiana

Unless otherwise agreed in writing, which duty continues after an agency relationship ends?

  1. Presenting any new offers the former client receives afterward
  2. Accounting for money and property received during the agency
  3. Advising the former client on any later real estate transactions
  4. Continuing to locate suitable properties for the former client
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B. Accounting for money and property received during the agency — IC 25-34.1-10-14(c).

Question 5 · Indiana

Absent a written agreement to the contrary, when does an Indiana licensee NOT represent the person the licensee is working with?

  1. When merely assisting the person as a customer without compensation
  2. When the person first contacted the licensee through an open house
  3. When the licensee is paid by the other party's broker company
  4. When the person has not yet signed a purchase agreement for property
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A. When merely assisting the person as a customer without compensation — IC 25-34.1-10-9.5(a).

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