Flash Cards State Portion
Iowa Real Estate Licensing Exam
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such, the IAR retains all copyright protection and hereby notifies users that any unauthorized reproduc-
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© 2020 Iowa Association of REALTORS®
Iowa Association of
REALTORS School of REAL ESTATE
Iowa Association of REALTORS® • 5950 Village View Drive #100 • West Des Moines, IA 50266
800-532-1515 or 515-453-1064
www.iowarealtors.com
®
Real Estate License Acts Requiring a
Real Estate License
Acts Excluded from
Licensing Provision Salesperson
Licensing Qualifications
Salesperson
Education Qualifications Pre-licensing Completion
Dates
12/12/12
Developing Professionalism
Buying Practices Listing Practices
Revoked False Statement
Past Criminal History Auctioneers are Limited
Age Requirement Child Support or
College Loan Payments
Application for License
FBI Background Check
Affiliating Broker Broker
Licensing Qualifications
Errors and Omissions
Insurance
Inactive Status
Commission Supplied Forms Nonresident’s Place of Business
Irrevocable Consent Custody of
Salesperson’s License
Corporations, Associations,
Partnerships Designated Broker
Maintaining an Office Managing More Than
One Office
Change of Location Adverse Action
Changing Brokers Payment from Broker
Change of Residence License Terms
Continuing Education (CE) Law Update
Ethics Repeating Same Class
Random Audit
Certify
Renewal Deadline Repassing the Exam
Renewing a License Renewal After Deadline
Reinstatement Termination
$25 Penalty Online or Home Study
Five Working Days January 30th Deadline
Unlicensed Support Personnel Licensed Support Personnel
Support Personnel
Permitted Activities Support Personnel
Prohibited Activities
Real Estate Commission
Mission of the
Real Estate Commission
Real Estate Commission Staff Commission Appointment
Commission Terms Expenses of Members
Rules Fees
Education Director
Regulatory Compliance Personnel
List of Licensees Hearings Over Fees
Declaratory Ruling Rules
Total Members on Commission Licensed Members
Unlicensed Members Brokerage Agreement
Listing Agreement Cooperation
Compensation Sellers Agent
Listing Agent Buyers Agent
Undisclosed Rebates Undisclosed Credits
Undisclosed Payments
Solicitation
Principal Broker Express Written Consent
Undisclosed Commission Expiration Date
Negotiation Customers Agent
Net Listing Signs on Property
Protective Clause Contract Provision
Tying Agreements Anti-trust
Exclusive Right
Conditional Listing
Conditional Loan Property Management Agreement
Advertising Affirmatively and Unmistakably
Misleading, Deceptive or
Intentionally Misrepresentative
Firm
Lotteries Referral Fees
Personal Advertising Self Interest
Written Disclosure Specific Assistance
Purcahse Agreement Ground Water Hazard Statement
Declaration of Value Written Offer
Acceptance Dual Contracts
Progress Report Loan Finder Fee
Executed Instrument Four Units or Less
Seller Disclosure Statement Property Condition Disclosure
Delivery
Physical, Mechanical,
Structural and Environmental
Conditions
Executed Statement Required Signatures
Responsibilities to Buyer Exempt Property
Wells Solid Waste
Hazardous Waste Underground Storage Tanks
Burial Sites Septic Systems
Groundwater Hazard Statement (GWHS)
G = George W Bussh
W = Wells
B = Burial Sites
U = Underground Tanks
S = Septic Systems
S = Solid Waste
H = Hazardous Waste
Revocation of Offer
Trust Accounts Earnest Payments
FDIC =
Federally Insured
Financial Institution
Commingle
Interest Bearing By Owner Transaction
Disperse Funds Closing
Statement of Expenses Trust Account Records
Any and All Offers Listing Broker Responsibilities
Cooperative Sales Earnest Money Check
Cash as Earnest Money Insufficient Funds Check
Selling Side:
Listing Broker
Listing Agent
Seller’s Agent
Express Authority
Buyer’s Side
Selling Broker
Buyer’s Agent
Selling Agent
Duties of Licensees
Common Law Agency
Customer Express Written Authority
Implied Agency
Ministerial Acts
Phone Inquiries Open Houses
Appointment Setting Factual Information
Buyer Client Seller Client
Written Company Policy Disclosure of Agency
Specific Assistance Written Agency Disclosure
Non-represented Customer Duties to Customers
Duties to Clients Honestly and Good Faith
Clients Interest
Agency Relationship
Single Agent Dual Agent
Appointed Agent Subagent
Enforcement Investigations by Commission
Substantial Misrepresentation
False Promise
Failure to Disclose Failure to Account or Remit
Negligent Misrepresentation Unworthy or Incompetent
Fraud Professional Incompetence
Intoxication or Addiction Convictions
False Advertising Insurance Non-compliance
Methods of Discipline Revocation of License
Suspension of License Nonrenewal of License
Prohibit Engagement Probation
Education Physical or Mental Exam
Citations, Warnings, Reprimand Civil Penalties
Combination of Penalties Written Complaint
Initiation of Investigation Investigating Committee
Probable Cause Violation of Iowa Code
Informal Discussion Attorney Representation
Closed Session Informal Settlement
Formal Hearing 20 Day Notice
Notice of Hearing Failure to Appear
Penalties Iowa Fair Housing
Protected Classes in Iowa Iowa Civil Rights Commission
