Idaho License Law
In Idaho, how long does a new licensee have to affiliate with a broker after passing the exam?
A30 days
B60 days
C90 days✓ Correct
D1 year
Explanation
Idaho requires new licensees to affiliate with a designated broker within a specified period (typically within their initial license issuance window) to activate their license and begin practicing.
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Key Terms to Know
Option Contract
A contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
ProrationThe division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
State-Specific Concepts
License Law
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