Duties And Powers Of The Real Estate Commission Flashcards
How many real estate commissioners are there and how long do they serve?
Five serving four year terms
What activity does not require real estate license?
Property management
What is the maximum penalty for broker a real estate deal without a license?
Up to $5000 and or a year in jail
Which organization monitors the code of ethics
NAR
Which activity does the Idaho real estate commission not have authority over
To force a broker to complete a contractual obligation
Which of the following activities would the real estate recovery fund not pay out for?
Dishonorable dealings
What are the liability limits of the real estate recovery fund?
$10,000 per year per licensee
What is true of a licensee if the real estate recovery fund pays out for them
Their license is suspended until the judgment is repaid
And unlicensed personnel assistant cannot do which activity
Verbally caught the price of a property to buyer
What is required in all advertisements for listed properties?
Brokerage company name
True or false, which activities could result in Idaho real estate commission disciplinary actions
True or false fraudulent misrepresentation - true
True or false failure to account - true
True or false seeking a kickback from a lender - true
True or false Not reporting license violations of others - false
True or false, not holding weekend open houses - false
True or false deception in requesting a real estate license - true
True or false only proposing to use a double contract - true
True or false missing office meanings - false
True or false incompetence True
True or false, swearing, unprofessional clothing - false
The Idaho Real Estate commission may revoke a real estate license for
If a licensee obtain an E & O policy from a private insurer and does not use the state sponsored plan, what must they have in their files for IREC review
The Idaho Real Estate commission does not have the the enforcement power to
In Idaho, the Idaho Real Estate license law rules is administered by the
How are members of the Idaho Real Estate commission appointed
The Idaho Real Estate Comission consists of how many members
The Idaho Real Estate commission appoints an education council. How many members are on the council
The Idaho Real Estate Commission has the power to
The Idaho Real Estate Commission may investigate the action of any person engaged in the business of real estate or acting in the capacity of a real estate broker or salesperson within the state of Idaho for all of the following reasons except
In Idaho, which of the following would not be grounds for revoking a broker’s license
The Idaho Real Estate commission has the power to revoke a salesperson’s license if the salesperson
In Idaho, a broker may have his or her license suspended or revoked for all of the following actions EXCEPT
For which of the following acts is the Idaho real estate commission required to automatically suspend the license of a broker, associate broker, or salesperson
During the investigation a hearing process, may a licensee retain legal counsel?
A licensee is asked to provide copies of transactional paperwork to Idaho Real Estate Commission for an investigation. To what extent must the licensee participate in the investigation?
Licensees must display their brokerage company name blank on all advertisements
