Idaho Real Estate Exam Topics: Complete Breakdown

The Idaho PSI real estate exam covers 80 national questions and 40 state questions. Idaho's state section includes unique topics that require Idaho-specific study. Here's the full breakdown.

National Section (80 Questions)

Property Ownership and Land Use (approx. 13 questions) - Types of ownership: severalty, joint tenancy, tenancy in common, community property - Freehold estates (fee simple, life estate) and leasehold estates - Land use controls: zoning, eminent domain, police power, escheat, taxation - Environmental hazards: lead, radon, asbestos, underground storage tanks, CERCLA

Valuation and Market Analysis (approx. 7 questions) - Three appraisal approaches: sales comparison, income, cost - Gross Rent Multiplier (GRM), Net Operating Income (NOI), Capitalization Rate - Competitive Market Analysis (CMA)

Financing (approx. 10 questions) - Loan types: conventional, FHA, VA, USDA - Points, APR, loan-to-value, PMI, amortization - Federal regulations: RESPA, TRID, Truth in Lending, ECOA

Agency Relationships (approx. 14 questions) - Types: seller's agent, buyer's agent, dual agent, designated agent - Fiduciary duties: OLD CAR (obedience, loyalty, disclosure, confidentiality, accounting, reasonable care) - Agency disclosure timing and requirements

Contracts (approx. 17 questions) - Essential elements, void/voidable/unenforceable distinctions - Contingencies: financing, inspection, appraisal, sale of home - Breach remedies: specific performance, damages, liquidated damages, rescission

Transfer of Property (approx. 8 questions) - Deed types: general warranty, special warranty, quitclaim, bargain and sale - Title search, title insurance, recording acts - Closing/settlement process

Real Estate Calculations (approx. 7 questions) - Commission, proration, LTV, cap rate, area, points, GRM

Mandated Disclosures (approx. 4 questions) - Lead-based paint (pre-1978 homes), material defects, environmental hazards

State Section (40 Questions)

Idaho License Law (Idaho Code Title 54, Chapter 20) - Governing statute: **Idaho Code Title 54, Chapter 20** - Regulator: **Idaho Real Estate Commission (IREC)** under DOPL - Commission: **5 members** - License types: salesperson and broker - Pre-license: **90 hours** for salesperson

License Procedures - Application requirements - Renewal: every 2 years - CE: 12 hours per 2-year cycle - Inactive license procedures - Background check requirements

Idaho Agency Law — Brokerage Representation Act - Idaho's **default agency is buyer's agency** — unique among most states - Written buyer brokerage agreements: preferred but not required by statute - Seller's agency, buyer's agency, dual agency, designated agency, non-agent facilitator - Agency disclosure requirements - IREC rules on disclosure timing

Community Property Law in Idaho - Idaho is a **community property state** (9 states total: AZ, CA, ID, LA, NM, NV, TX, WA, WI) - **Community property:** All property acquired during marriage — owned 50/50 by both spouses - **Separate property:** Property owned before marriage; property received as gift or inheritance during marriage - **Quasi-community property:** Property that would have been community property if acquired in Idaho - Spouses must both sign to convey community property in Idaho - Important for listing agreements, deeds, and title issues

Water Rights in Idaho - Idaho follows **prior appropriation** doctrine: "first in time, first in right" - Water rights are property rights that can be bought, sold, and transferred separately from the land - A senior water right has priority over junior rights in times of shortage - Water rights affect agricultural and rural property values significantly - IREC expects agents to have a general understanding of how water rights affect transactions

Idaho Deed of Trust and Foreclosure - Idaho uses **deeds of trust** (not mortgages) as the primary security instrument - Non-judicial foreclosure with **power of sale** - Three parties: **trustor** (borrower), **trustee** (neutral third party), **beneficiary** (lender) - Foreclosure timeline is governed by Idaho statute - Idaho has **anti-deficiency protections** after certain non-judicial foreclosures

Idaho Homestead Act - Provides homeowners a partial exemption of home equity from certain creditor judgments - Applies to primary residence - Does not protect against all creditors (mortgage lenders can still foreclose)

Idaho-Specific Disclosure Requirements - Seller Property Condition Disclosure requirements - Lead-based paint disclosure for pre-1978 homes - Water rights disclosures for agricultural properties

Idaho Fair Housing - Federal 7 protected classes apply - Idaho does not add additional state protected classes beyond federal law (unlike many states)

Study Priority for Idaho

Spend significant time on: community property rules, prior appropriation water rights, the default buyer agency rule, and deed of trust/foreclosure mechanics. These Idaho-specific topics are where the exam diverges most from national content.

For Idaho-specific practice exams, visit [CARealestate.com/states/idaho](https://carealestate.com/states/idaho).