Free Iowa Real Estate Practice Exam Questions (May 2024) 40+

Iowa Real Estate Exam

1 / 30

Becky, a salesperson, living in Cedar Rapids, holds an inactive license. Which of the following acts, if any, may she perform?

2 / 30

If you are representing a buyer, which of the following is NOT considered “confidential information” by Iowa law?

3 / 30

In Iowa the amount a broker may charge for a commission is

4 / 30

There are 7 protected classes according to Iowa Fair Housing law. Which is not a protected class?

5 / 30

What is an appointed agency and is it legal in Iowa?

6 / 30

Upon obtaining a listing, a broker or licensed salesperson is obligated to

7 / 30

How long are terms for members of the Iowa Real Estate Commission?

8 / 30

A broker received a buyer's earnest money check for $10,000 and deposited it into their trust account. At closing, the $10,000 turned into $11,000 due to interest accrued. Where does the extra $1,000 (of interest) go?

9 / 30

Which of the following states does Iowa NOT have a real estate license reciprocity agreement with?

10 / 30

If an unlicensed person performs a duty in which a license is required, the Iowa Real Estate Commission is authorized to impose a fine. How much is the commission authorized to fine the person for?

11 / 30

In Iowa, which of the following is exempt from continuing education?

12 / 30

What is wrong about this statement? “All written listing agreements must include: signatures, include the date the agreement is active, the commission splits, the property it applies to, and the parties applicable.

13 / 30

In Iowa, if someone receives a fee to list, sell, lease, or exchange real estate they are a

14 / 30

Which of the following acts is prohibited for an unlicensed real estate assistant in Iowa?

15 / 30

In Iowa, the relationship in which the agent is held in a position of special trust and confidence by the principal is called a:

16 / 30

Tina is a veteran Iowa broker who has had her license for 15 years. Tina delivers the final copies of an offer to purchase contract to all the appropriate parties. For how long must Tina retain a copy of the contract per Iowa law?

17 / 30

Iowa has real estate license reciprocity agreements with which states?

18 / 30

In Iowa, how long does a brokerage agreement last?

19 / 30

Under Iowa law, at which point is a broker allowed to put a For-sale sign on a property?

20 / 30

John is Jackie's broker. Jackie is late on completing her continuing education. Who is responsible for keeping track of continuing education requirements?

21 / 30

Salespersons and broker associates in Iowa are prohibited from advertising under their own names unless:

22 / 30

Unless excluded per the commission, Iowa Licensees must complete at least how many hours of continuing education every renewal cycle?

23 / 30

Jim and Pam told Dwight (a licensed broker) that they wanted to get $50,000 when they sold their house. Dwight accepted the listing and sold it for $100,000. Dwight then gave $50,000 to Jim and Pam and kept $50,000 for himself. This is considered a:

24 / 30

Iowa Real Estate Law mandates agents have errors and omissions insurance. What is the purpose of the insurance?

25 / 30

How soon must an Iowa broker deposit earnest money into the broker's trust account after an offer to purchase has been made?

26 / 30

Under agency law in Iowa dual agency is

27 / 30

Iowa salesperson Larry, was working for his broker Isaac and committed a violation of real estate license law. Larry was aware of the violation, but did not participate in the illegal activity. Under real estate license law who would be at fault for this situation?

28 / 30

Under Iowa law, when should a listing agent give a potential buyer a verbal agency disclosure?

29 / 30

Whenever a salesperson or brokers license is revoked, suspended, restricted, or voluntarily surrendered, the licensee must immediately notify the licensee's broker within how many days?

30 / 30

At least how many times do members of the Iowa Real Estate Commission meet a year?

Your score is

Hello, welcome to our Iowa Real Estate Practice Exam.

This free practice exam is here to help you master the state-specific portion of the Iowa real estate exam. 

In Iowa, there are 120 questions on the exam (80 national and 40 state). 

For help with the national portion we have our national portion practice exam. That section can be used to study the topics featured on those 80 questions.  

For help with the state portion you're in the right place! This section can be used to study the topics featured on those 40 questions.  

The two most effective study tools for the Iowa state exam portion are using real estate practice exams, and learning Iowa state-specific license laws.

Our state-specific real estate practice exam is a fantastic tool to help you grasp your state's real estate topics. It works just like our national real estate practice exam and is updated annually. 

Usually, using the state practice exam is enough for students to grasp the concepts. However, if you want more, the single most important resource out there is the laws they base the questions on. If you haven't looked at your state's Real Estate Statutes or Regulations, it's strongly recommended.

The test makers take snippets of laws applicable to your state and use them for the questions. We use the actual state laws to create our questions, which is why some of the questions may look familiar to you. Some websites and prep providers do not, and that's the secret. You need to know your state's laws. 

Furthermore, It would be best if you read through your laws at least once, and that's the greatest advice we can give you. Trust us, we know it can be very time-consuming, but reading through each one of these will provide you with precisely the information you need to pass. 

Best of luck, reach out if you need anything,

Real Estate License Wizard Team

Iowa Real Estate Statutes and Regulations

Here is our list of recommended Real Estate Statutes and Regulations you need to know:

Real Estate Statutes and Regulations:

NOTE: State websites update semi-frequently and sometimes their website URLs change. If any of the links posted below do not work, please reach out and we will update the links promptly. Thank you.

Iowa’s Real Estate Exam FAQ’s

Have a question about the real estate exam? Find the answers to all your real estate license questions here:

What are Iowa’s Real Estate License Requirements?

Real estate license requirements vary from state to state. Here are Iowa’s requirements:

  • Must be 18 years or older.
  • Must complete a background check.
  • Must have proof of errors and omissions insurance.
  • Must complete required state approved pre-licensing courses (60 credit hours).
  • Estimated cost of total fees and license: $225

How Hard is the Iowa Real Estate Exam?

The real estate exam is a rigorous and challenging test that weeds out those who are not committed to being skilled agents. To pass the exam in Iowa, with a total of 120 questions (80 national and 40 state), the score to pass is 58 for the national and 28 for the state.

How Many Questions Can You Miss on the Iowa Real Estate Exam?

In Iowa, you can miss 22 questions on the national and 12 on the state and still pass the real estate exam.

How Many Times Can You Take the Iowa Real Estate Exam?

If you do not pass both the national and state law portions of the exam after three attempts, then you must redo your pre-licensing.

What Is on the Iowa Real Estate Exam?

The 120 multiple-choice questions on the salesperson examination cover a variety of topics that are relevant to Iowa real estate license law. Here are what topics you are expected to know:

Iowa National Portion:

  1. Property Ownership
  2. Land Use Controls and Regulations
  3. Valuation and Market Analysis
  4. Financing
  5. General Principles of Agency
  6. Property Disclosures
  7. Contracts
  8. Leasing and Property Management
  9. Transfer of Title
  10. Practice of Real Estate
  11. Real Estate Calculations

Iowa State Portion:

  1. Licensing Requirements
  2. License Maintenance
  3. Disciplinary Actions – Suspension,
  4. Revocation and Voluntary Compliance
  5. Real Estate Education
  6. Trust Accounts
  7. Contracts
  8. Agency
  9. Prop Disclosure Requirements
  10. Iowa Civil Rights Act of 1965
  11. Unlicensed Assistants
  12. Broker Responsibilities
  13. Property Management

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