IRES - Iowa Real Estate Salesperson

Question 21: A vendor near Ankeny served a proper forfeiture notice, and the thirty-day cure period passed with no performance by the vendee. To complete the forfeiture under chapter 656, what must the vendor now do with the notice and proofs of service?

Submit them to the district court

Post them to the lien registry

File them with the county recorder

Mail them to the state commission

Question 22: A vendee on a Davenport land contract defaults, but the vendee's own mortgagee learns of the pending forfeiture and wants to protect its position. Under chapter 656, who besides the vendee may perform within the thirty-day period to stop the forfeiture?

A mortgagee of the vendee

Only the vendee personally

The county recorder on request

Any interested member of public

Question 23: When a vendor forfeits an installment land contract in Waterloo, chapter 656 requires service on certain parties beyond the vendee. Besides the vendee, which of the following persons must also be served with the forfeiture notice under the statute?

The county assessor of record

All the vendee's mortgagees of record

The original listing broker involved

Every prior owner of record

Question 24: A vendor near Ames prepares a chapter 656 forfeiture notice and must include several specified items. Which of the following is a required content of that written notice served on the defaulting vendee under Iowa's installment-contract forfeiture statute?

The terms the vendee has breached

The vendor's asking price today

A new interest rate schedule

The listing broker's commission owed

Question 25: Two neighbors near Cedar Falls shook hands on the sale of a strip of farmland, and a written memo of the deal exists but bears only the buyer's signature. The seller now denies it. Whose signature does section 622.32 require to make the writing effective against the seller?

Both parties without exception

Only the buyer signing

The party charged, the seller

A notary and two witnesses

Question 26: An instructor stresses that Iowa's statute of frauds does not declare an unwritten land contract void, but instead uses a different operative phrasing. According to section 622.32, what does the statute actually say about an oral contract to transfer land?

The contract is automatically void

The contract is voidable by either

It converts to a month-to-month

No evidence of it is competent

Question 27: An Iowa City broker prepares an exclusive right to sell listing and wonders what the rule specifically demands about how that document must identify its own nature to the client. Which requirement does the rule impose on an exclusive brokerage agreement?

It must clearly indicate it is exclusive

It must be recorded with the county

It must name a backup broker

It must limit its term to months

Question 28: Iowa requires a written buyer representation agreement for all residential properties, but the governing rule exempts certain settings from that requirement. A Dubuque agent asks which situations fall entirely outside the buyer-representation-agreement mandate. Which grouping correctly lists those recognized exemptions?

Referrals, rentals, and new construction

Open houses, auctions, and commercial properties

Vacant land, farms, and condos

Foreclosures, short sales, and auctions

Question 29: Iowa's appointed-agent scheme switches off a familiar common-law rule so that one appointed agent's knowledge is not automatically attributed to the whole firm. Which principle does the statute adopt to make separate appointed representation workable within a single brokerage?

All firm agents share every fact

Knowledge follows the designated broker

Knowledge is not imparted by law

Imputed knowledge binds the whole agency

Question 30: A single brokerage in Ankeny appoints one licensee to represent the buyer and a different licensee to represent the seller in the same deal. Under Iowa's appointed-agent rule, when exactly does disclosed dual agency attach in this particular arrangement?

Immediately, because one brokerage holds both

As soon as agents are appointed

Never, since appointment prevents dual agency

Only if one licensee represents both

Question 31: Historically, belonging to a multiple listing service could automatically make a cooperating broker the listing client's subagent. Under Iowa's current subagency statute, what is the effect of mere membership or affiliation in an MLS on subagency status in Iowa?

Membership automatically creates subagency

Membership makes every member a subagent

Membership alone creates no subagency

Membership requires the seller's subagent

Question 32: A cooperating broker in Waterloo asks whether they may accept an offer of subagency extended through the local multiple listing service. Under Iowa's subagency statute, what is the correct answer regarding subagency offers made through an MLS in Iowa?

Such offers cannot lawfully be made

Yes, if the broker accepts promptly

Yes, once the seller consents

Only with written commission approval

Question 33: A licensee in Iowa City is asked to represent both the buyer and the seller in the same transaction. Before the licensee may lawfully act as a dual agent in Iowa, what must the licensee obtain, and at what point relative to the representation?

Verbal consent from each party

Written consent after the offer

The listing broker's written approval

Written consent of both, obtained first

Question 34: Under Iowa's post-2024 rule, a brokerage agreement must be signed by both broker and client before certain events, whichever comes first. Before listing a seller's property, before showing a buyer a home, and before what third event must it be signed?

Before the closing date

Before making an offer

Before advertising the listing

Before delivering seller disclosures

Question 35: Iowa requires a licensee to disclose material adverse facts the licensee knows, but the statute then carves out a fixed set of situations in which that disclosure is not required. How many separate exceptions does the material-adverse-facts duty contain in all?

Four exceptions

Three exceptions

Five exceptions

Two exceptions

Question 36: After an Iowa closing on a downtown loft, the declaration of value stating the full consideration must be turned in to a specific county office when the deed is recorded. Under chapter 428A, to which office is the declaration of value submitted?

The county assessor

The county treasurer

The secretary of state

The county recorder

Question 37: A landlord renting a Council Bluffs split-level wants to charge the largest security deposit Iowa's residential landlord-tenant law allows. The monthly rent is fixed by the lease. What is the maximum security deposit the landlord may lawfully demand or receive?

One month's rent

Two months' rent

Three months' rent

One and a half months' rent

Question 38: When Iowa real property is sold, a document stating the full consideration paid must be signed by at least one buyer, seller, or their agent and submitted at recording. Under chapter 428A, which document states the full consideration and is filed with the recorder?

The groundwater hazard statement

The condition disclosure statement

The declaration of value

The abstract of title

Question 39: An Ankeny closing agent is preparing the documents that must go to the recorder when a sale is recorded, and needs to know which filing the groundwater hazard statement accompanies. Under Iowa law, the groundwater hazard statement is submitted together with which document?