Indiana Real Estate Practice Exam
Here are some actual questions you’ll find on your Indiana Real Estate Exam.
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Ownership of real property by a married couple in Indiana, unless stated to the contrary in a deed, is presumed to be which of the following?CorrectIncorrect
Which of the following activities does not require a valid Indiana real estate license in order to be compensated?CorrectIncorrect
Carol is an unlicensed assistant at Vivian’s real estate firm. Carol recently worked late nights and weekends to help ensure the successful closing of a difficult transaction. Her work included calling the prospective buyers and encouraging them to accept the counteroffer. The sale went through, largely because of Carol’s efforts. Vivian wants to pay Carol a commission. Which of the following statements is true regarding this situation under Indiana law?CorrectIncorrect
Which of the following must be filed when a nonresident files for an Indiana license?CorrectIncorrect
What must a real estate corporation do to obtain a corporation license in Indiana?CorrectIncorrect
Mandy is an office manager for Woodside Real Estate, a local Indiana real estate firm. Her responsibilities include coordinating the flow of paperwork through the office, preparing forms and advertising copy, and hiring and supervising clerical personnel. Which of the following statements is true regarding Mandy?CorrectIncorrect
Arthur, the owner and principal broker of an Indiana real estate firm, died. At the time of his death, there was $9,500 in the trust/escrow account. Which of the following statements accurately describes how this money should be handled?CorrectIncorrect
Which of the following statements is true regarding an Indiana real estate licensee who has been granted an inactive license?CorrectIncorrect
When are Indiana property taxes due?CorrectIncorrect
Which of the following persons needs a real estate license in the state of Indiana?CorrectIncorrect
Under Indiana agency law, which of the following is considered a true statement?CorrectIncorrect
Selwyn, an Indiana licensee, finds a ready, willing and able buyer for his listing with Sarah. Sarah accepts the buyer’s offer in writing, but then decides she really does not want to sell her home. Sarah withdraws the acceptance. Which of the following statements is true regarding Selwyn in this particular situation?CorrectIncorrect
Which of the following statements is true regarding an exclusive buyer agency contract in Indiana?CorrectIncorrect
Which of the following statements is false regarding the Indiana Real Estate Commission?CorrectIncorrect
Mandy was convicted of a crime that has a direct bearing on her ability practice her real estate duties competently. Which of the following actions is allowed by the Indiana Real Estate Commission?CorrectIncorrect
When may the Indiana Real Estate Commission issue a cease and desist order?CorrectIncorrect
Lupita wishes to receive payment from the Indiana Recovery Fund. What must she do?CorrectIncorrect
For which of the following may the Indiana Real Estate Commission spend interest earned on the recovery fund?CorrectIncorrect
Teddy, an Indiana real estate licensee, embezzled $10,000 from client A, $20,000 from client B, and $25,000 from client C. All three clients received final judgments and payments out of the Indiana Recovery Fund. How much money will each client receive?CorrectIncorrect
Under Indiana real estate law, which of the following does NOT constitute an agency relationship between the licensee and the individual he is working with?CorrectIncorrect
Alice is an Indiana licensee entering into a listing agreement and agency relationship with a seller. What are Alice’s duties?CorrectIncorrect
Lupita is an Indiana licensee who has an agency relationship with a buyer. Which of the following is true regarding this particular relationship?CorrectIncorrect
Under Indiana real estate license law, when does a licensee become a limited agent?CorrectIncorrect
Arthur, an Indiana licensee, has an agency relationship with Gevorg, a seller. Arthur discovered a latent defect in the property. What should Arthur do after he discusses this discovery with Gevorg?CorrectIncorrect
Gevorg, a licensed Indiana salesperson, was describing his client’s listing to Arthur, a buyer’s agent from another brokerage firm. Gevorg told Arthur that the furnace was new, when in fact it was 20 years old. Gevorg’s client (the seller) was unaware of his misrepresentation. Which of the following is true regarding this
Under Indiana agency law, what may a buyer, exclusively represented by a licensed broker, expect from that licensee?CorrectIncorrect
Which of the following may NOT be placed in an Indiana broker’s trust account?CorrectIncorrect
Which of the following statements is true regarding escrow/trust accounts in the state of Indiana?CorrectIncorrect
Arthur is an Indiana licensee taking an offer to purchase from a buyer with a $1,000 earnest money deposit. Which of the following accurately describes what Arthur should do with the offer and the earnest money?CorrectIncorrect
Mandy is an Indiana licensee who submitted an offer to purchase from a buyer client to the listing agent. The earnest money was a Rolex watch. Which of the following is true regarding this situation?CorrectIncorrect
Arthur is an Indiana broker licensee, not a licensed or certified appraiser. Arthur received a call from a former buyer client requesting an appraisal in connection with a divorce decree. The former client does not want the property to appraise for more
than $180,000, but Arthur knows that most of the properties in that area are worth more than $180,000. What should Arthur do now?CorrectIncorrect
Gevorg is an Indiana licensee. A seller gave Gevorg the survey and owner’s title insurance policy at the time she listed her property with him. When the listing expired, Gevorg did not return the documents, and claimed they were misplaced. Which of the following statements is true regarding Gevorg’s liability in this situation?CorrectIncorrect
Which of the following is a penalty for someone found to be in violation of the incompetent practice portion of the Indiana license law?CorrectIncorrect
Arthur is a tenant, and asks his landlord for an Indiana Residential Real Estate Sales Disclosure Form, but the landlord refuses to complete the document. Which of the following is a true statement regarding this situation?CorrectIncorrect
Nelson owns a four-unit apartment building, and plans to sell it. When must he submit an Indiana Real Estate Sales Disclosure Form to a prospective buyer?CorrectIncorrect
When is a seller in Indiana NOT required to give a buyer a Residential Real Estate Sales Disclosure Form?CorrectIncorrect
Lupita, owner of an Indiana residential property, informs her listing agent that the property was once the site of criminal gang activity. Lupita fears that disclosure of this information to potential buyers could inhibit the sales process, so she instructs
her agent not to disclose the facts. A couple of days later a buyer asks the agent if the property has any psychological affectations. What is the agent’s obligation in this situation?CorrectIncorrect
Vivian is an Indiana real estate broker who has an agency relationship with a seller. Vivian knows that the home has a cracked foundation and that a former owner was brutally murdered in the kitchen. Which of the following must Vivian disclose?CorrectIncorrect
Henry Jan is an Indiana licensee who decides to sell his property without using a broker. Which of the following is true regarding advertising Henry’s property?CorrectIncorrect
Which of the following is a true statement regarding all purchase agreements in Indiana?CorrectIncorrect
Marvin, an Indiana broker, signs a listing agreement with a seller. The agreement contains the following: “If the listed property has not sold after three months from the date of this signing, this agreement will automatically renew for additional three-month periods thereafter until the property is sold.” Which of the following statements is true regarding this situation?CorrectIncorrect
Tim Ackerman, an Indiana licensee, obtains a listing. Which of the following is true regarding his obligations?CorrectIncorrect
Which of the following accurately describes the relationship between the principal broker and the associated licensee, under Indiana real estate law?CorrectIncorrect
From whom may an Indiana licensed salesperson lawfully accept compensation?CorrectIncorrect
Under which of the following circumstances may an Indiana licensee represent and be associated with more than one Indiana principal broker?CorrectIncorrect
Which of the following statements is true regarding an Indiana managing broker with more than one office?CorrectIncorrect
In Indiana, how far back does a normal title search go?CorrectIncorrect
Which of the following is an Indiana licensee entitled to before he or she can be disciplined by the commission?CorrectIncorrect
Which of the following may be imposed on an Indiana licensee, if he or she is found guilty of a real estate violation by the Indiana Real Estate Commission?CorrectIncorrect
Which of the following statements is true regarding a principal broker who participates in a referral service?CorrectIncorrect
How to Study For The Indiana Real Estate Exam
Is it safe to assume that you already know that the best way to pass any test is to fully understand the material. So, how do we do that?
- Take real estate practice exams over the course of 1-3 months depending on your knowledge level.
- Watch YouTube videos of real estate exam prep teachers. They are awesome and they are free! We have quite a few but there are other great teachers as well.
- Memorize all the real estate vocabulary. This should be common sense, but make flashcards and just go over them until you know them all.
How many times can you take the indiana real estate exam?
Indiana is slightly different than other States but as of recent, The Indiana Real Estate Commission allows you to take the real estate exam 7 times.
Can I take my indiana real estate exam online?
You can take your Indiana real estate exam online.
Before you select the date and time you will be taking the exam, you need to check and make sure your computer has the capabilities for this.
Please note, our students have said you must be VERY careful doing this as any sort of strange movements or your eyes wondering will result in the exam being terminated. They are very serious about trying to catch cheaters.
How many questions are on the Indiana Real Estate Exam?
We have interviewed Pearson Vue and the Indiana Real Estate Commission (as well as reviewing their candidate handbook),there are 150 multiple-choice questions (80 national and 70 State) on the Indiana Real Estate Exam.
Is the Indiana Real Estate Exam hard?
The pass rate for this exam is 62%. That is not great to be honest but I understand why it is so hard (we only want the best).
The good news is, the people passing the real estate exam are using a real estate exam test prep (like us!) and their pass rate goes to 90%.
how much is the Indiana real estate exam?
Exam fees must be paid in advance with a credit card or a debit card. You can’t pay at the testing center. For each attempt at the Indiana Real Estate Exam, you are expected to pay $53. Often, if you fail the exam, the fees are a little cheaper (but don’t fail, work with us)
What Questions Are On The Indiana Real Estate Exam?
If you review the Indiana real estate exam candidate guide located on the Indiana Professional Licensing Agency website, they list the following. Also, often conduct exit interviews with our prior students to confirm what questions are on the Indiana License Test as well as insure the below is accurate.
The exam breakout is as follows:
1. Property Ownership – 8%-10%
2. Land Use Controls & Regulation – 5%
3. Valuation & Market Analysis -7%
4.Financing – 8% to 10%
5. General Principles Of Agency – 11% to 13%
6. Property Disclosures – 7%
7. Contracts – 17% – 18%
8.Leasing & Property Management – 3% – 4%
9. Transfer Of Title – 7%-8%
10. Practice Of Real Estate – 11%
11. Real Estate Math – 5% – 7%
What Score Do I Need On The Indiana Real Estate Exam To Pass?
According to the Indiana Real Estate Commission website, you need at least 60 points out of a possible 75 points on the national portion of the test. For the State specific portion, you need 38 points our of 50.
As mentioned, the examination is divided into two portions: National & State.
Candidates who pass one portion of the exam and fail the other need retake only the portion they failed, as long as they retake and pass the failed portion within one (1) year of completing the required prelicensing education.