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Real Estate Salesperson Exam — National Portion

Duties (IA): practice questions

Our Real Estate (National) bank has 4 questions on this topic. Here are 4 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Iowa

Which material adverse facts need an Iowa licensee NOT disclose to a party?

  1. Facts the party couldn't discover
  2. Readily discoverable facts
  3. Known roof leaks on the home
  4. Known foundation cracks
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B. Readily discoverable facts — Iowa Code 543B.56(1)(b)(2).

Question 2 · Iowa

When may an Iowa licensee accept a fee from someone other than their client?

  1. Never, under any circumstances
  2. After written notice to all
  3. Any time, without notice
  4. Only if the fee is under $500
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B. After written notice to all — Iowa Code 543B.56(3)(a).

Question 3 · Iowa

Whose interests must an Iowa licensee place first for a client?

  1. The licensee's own interests
  2. The client's, within the law
  3. The other party's, if more urgent
  4. The broker's business interests
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B. The client's, within the law — Iowa Code 543B.56(2)(a).

Question 4 · Iowa

What must an Iowa licensee disclose about referrals to related businesses?

  1. Nothing, if the service is good
  2. Their financial interest
  3. Only the business's name
  4. Only if the client asks about it
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B. Their financial interest — Iowa Code 543B.56(2)(d).

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