Idaho Exam Prep State Portion- Licensing Requirements Flashcards

Idaho Exam Prep State Portion- Licensing Requirements Flashcards A licensee who allows his or her license to expire has how long to reinstate the license without monetary penalty?There is no "free" time How long is your pre-license course certificate good for?3 years An office manager for a local real estate firm is responsible

for the following activities: Coordinating the flow of

paperwork through the office, preparing forms and advertising copy, and hiring and supervising clerical personnel. The office manager is Exempt form real estate licensing requirements A broker with an active license in another state, but not an Idaho license, may conduct real estate business in Idaho under what conditions?If they obtainIdaho cooperative licenseagreement from IREC before conducting business.***Idaho cooperative

license: Is a license that is granted for an out of state

broker with a broker's license in another state, that is in good standing. They are good for 1 year and good for 1 single commercial transaction. An out of state broker can have multiple simultaneously cooperative licenses (just have to have an application on file) for each potential transaction. No testing/no fingerprints needed because an Idaho broker has to sign that agreement and agree to supervise that transaction.A broker wishes to open a licensed branch office in other community in their market area. What is true regarding this new branch office?The manager must be an associate broker of the firm Which is a requirement to obtain an Idaho Brokers License ?A new fingerprint background check A licensed salesperson may hold a concurrent license with more than one Idaho broker under which of the following circumstances?Under no circumstance How long is your fingerprint background check good for?6 Months A salesperson is renewing his license 'Active' for the first time. In addition to taking 2 different commission Core courses, he must also take?Post -License Fundamentals plus any 4 hour post-license elective course.Which circumstance may prohibit an applicant from getting a real estate license?A felony conviction which occurred 8 years ago In Idaho which of the following is a requirement for obtaining a brokers license ?Having successfully completed a minimum of 90 hours of approved real estate courses Under the Idaho Real Estate License Law and Rules, a partnership, association, or corporation will be granted a license only if Each legal business entity has a properly license individual designated as real estate broker A real estate license is required for which of the following?Company that, for a fee (not a commission) matches individuals from different parts of the country who want to exchange properties and then assists them in doing so.

What are the Continuing Education minimum requirements?12 elective hours plus 2 different commission core courses every 2 years Which activity does not require a real estate license in Idaho?Property Management A salesperson has a renewal date of her license on November 30, 2016. On March 17, 2016 she gets a broker's license and opens her own firm called Ajax Realty.When must she renew her broker's license?By 5PM on the last business day of November 2016**and the deadline is by 5pm the last business day of your birth month.* good thing to REMEMBER How long is your passing state exam certificate good for?1 year If engaged in real estate activities who of the following are except from the real estate license requirement Attorneys at law An applicant for real estate license in Idaho must?Disclose any felony conviction In Idaho, each person seeking an Individual Primary Idaho License shall meet the following minimum qualifications

EXCEPT

Be at least 19 years old In Idaho, which situation would require an individual to be a licensed real estate broker or salesperson?Helping a friend in the purchase or sale of any interest in real property for compensation A graduate of the Idaho Real Estate School gets her first salesperson license on February 23, 2016. Her birthday is April 19th. By the end of which month must she renew her license ?April 2017 An actively licensed Idaho real estate salesperson may lawfully collect compensation from A real estate broker with whom the sales associate is licensed.Which of the following is not a requirement to obtain an active real estate salesperson licensee in Idaho?Copy of your birth certificate Which is not a type of real estate license in Idaho ?Branch Manager