Licensure Unit 14

Any applicant who does not pass the examination within______ of completing the broker course must retake and pass the 90-hour course.

1 year

A ______ score on each section is required for the candidate to pass the examination.

75%

The general real estate practices section of the exam is made up of

80 questions and five unscored pretest questions.

Postlicensing requirements include which of the following?

Broker must pass 30 hours of postlicensing education within first 2 years

Which of the following courses qualifies for continuing education credit?

Land development

Which of the following is an act an unlicensed associate cannot legally perform?

Make phone calls seeking listings for the licensed broker

An unlicensed associate cannot perform the following:

Prepare promotional or advertising materials without the review and approval of the supervising licensed broker Show, open house, answer questions except location, make calls/canvas listings, negotiate

During the first 2 years after the license has been issued, the newly licensed broker must take and pass

at least 30 hours of postlicensing education which focuses on the practical matters of real estate transactions.

Indiana must give license to military prison if the following are true

completed a military program of training been awarded a military occupational specialty in real estate performed in real estate

To obtain a broker license, a partnership must:

have licensed broker partners, 1 IN managing broker, submit the fee and app with names and addresses,proof of required education for each applicant

if the practitioner agrees with the Commission's determination of noncompliance,

he or she should pay the Commission a civil penalty of not more than $1,000 within 21 days of receiving the notice and then complete the number of credit hours necessary for full compliance within 6 months of receiving the notice.

A broker with an inactive license

must pay any fees a licensee is required to pay.

To reactivate an inactive license, the broker

must reactivate during the 3-year licensure period.

the 30 hours includes which courses?

real estate practice, construction, lending, negotiating, business planning, diversity and fair housing

To obtain license, a corporation must:

same as partnership plus submit a copy of the certificate of incorporation submit a certificate of good standing of the corporation issued by the Secretary of State

If the broker fails to renew the license on or before the date specified by the licensing agency, the Commission may reinstate the license if the broker meets the following requirements within 3 years of the expiration of the license:

submits completed renewal application pays current renewal fee pays reinstatement fee if required by law, provides a sworn statement signed by the broker attesting that he or she has fulfilled continuing education requirements or meets any other imposed requirements if continuing education requirements have not been met

The only agency in Indiana who may impose license requirements is

the Commission

If the broker fails to comply with the continuing education requirements,

the Commission will demand proof of compliance from the broker.

To maintain proof of licensure,

the broker's license must be displayed at the broker's place of business.

If you only pass one section of the test

you are given credit for that section and you must retake the failed section within 1 year

If the licensing agency delays renewing a broker's license to investigate suspicions of acts that may warrant discipline, which of the following must the agency do within the 90-day delay period?

Renew the license and place the broker on probation status

The licensure law section is made up of

50 questions and 5-10 unscored pretest questions.

Which of the following is the correct process for obtaining a real estate license in Indiana?

Meet the basic license requirements. 2. Take and pass required coursework. 3. Submit the application and fee. 4. Take and pass the examination.

Which of the following is a requirement for obtaining a real estate license in Indiana?

Must be free of criminal convictions

Failure to comply:

The Commission will send the practitioner a notice of noncompliance by certified mail.

A real estate broker who is called to active military duty in another state is entitled to a 180-day renewal extension after discharge or release if which of the following requirements applies?

The broker must provide proof of active duty out of state by providing a copy of the orders or discharge to the Commission when the broker renews the license.

Which of the following statements is accurate regarding the real estate examination?

The examination is divided into two sections.

Contents of the examination:

The examination is divided into two sections:general real estate practices and Indiana licensure law

An unlicensed associate cannot perform the following

The unlicensed associate cannot represent him/herself as being a licensed broker or as someone who can legally engage in buying, selling, exchanging, renting, leasing, managing, auctioning, or dealing with options on any real estate for others.

The should the licensee complete the continuing education?

The year the broker is initially licensed does not count toward the 2 continuing education years, so the broker is not required to complete continuing education until the third year after he or she is initially licensed.

Commission must issue a real estate license to a military spouse to allow the spouse to practice real estate in Indiana if the spouse satisfies the following

holds a current real estate license from another state whose requirements r equal to or exceed ours. continuing education units or having recent experience for at least 2 of the 5 years preceding the license application date. has not committed illegal acts is in good standing and has not been disciplined by the Commission. pays the required fees for licensure.

If the broker fails to renew the license for more than 3 years from the expiration date, the Commission may reinstate the license if the broker meets the following requirements:

submits completed renewal application pays current renewal fee pays reinstatement fee equal to the current initial application fee provides sworn statement signed by the broker attesting that the broker has fulfilled continuing education requirements or meets any other imposed requirements if continuing education requirements have not been met completes remediation and additional training assigned by the Commission, given the lapse of time involved meets any other requirement that is covered in statute or rule that is not related to fees