Iowa Real Estate SALESPERSON & BROKER State License Examination ExamFOCUS Study Notes & Review Questions

Book updated Nov. 2020. In Iowa, it is the Iowa Professional Licensing Bureau that administers broker licensing. Generally, a broker applicant must have 24 months of active salesperson experience. There is also a 72-hour broker pre-license education requirement within the preceding 24 months. On the other hand, a salesperson must be assigned to (work for) a licensed broker or firm and cannot conduct business independently. Simply put, the salesperson serves as the broker's agent. You must realize that many of the real estate skills and knowledge actually apply to both salespersons and brokers. The underlying concepts and principles are in many circumstances totally identical (MOST EXAM TOPICS ARE HIGHLY SIMILAR IF NOT TOTALLY IDENTICAL). TAX RATES AND FEES TEND TO CHANGE FREQUENTLY. THEREFORE YOU SHOULD CHECK WITH YOUR LOCAL AUTHORITIES FOR THE LATEST INFORMATION UPDATES. A lot of topics are covered by the exam but we choose to focus on the legal and regulatory topics here. We give you knowledge information relevant to the exam specification. To be able to succeed in the real exam, you'll need to apply your earned knowledge to the question scenarios. Many of the exam questions are written to be less straight forward. They tend to be framed within the context of short scenarios. An advice: Do NOT rely on a single source for exam preparation. To secure exam success, always use multiple sources and read as much as possible!