Idaho License Law
What is the purpose of the Idaho Real Estate Education Fund (recovery fund)?
ATo pay for IREC's operating expenses
BTo compensate members of the public who suffer financial losses caused by licensee misconduct✓ Correct
CTo provide scholarships for real estate students
DTo fund MLS operations
Explanation
The Idaho Real Estate Education Fund includes provisions to compensate consumers who suffer actual financial losses due to fraudulent acts of a licensed real estate agent that result in a final, uncollectable court judgment.
Related Idaho Idaho License Law Questions
- What is the significance of the Idaho Real Estate Commission's power to issue 'consent orders'?
- Under Idaho law, a real estate licensee must disclose their agency relationship to a customer at:
- An Idaho salesperson licensee who works independently without a broker affiliation is said to have a(n):
- In Idaho, real estate licenses must be renewed every:
- The Idaho Real Estate Commission is composed of:
- What is the minimum passing score required on the Idaho real estate salesperson exam?
- An Idaho broker who allows their license to expire but continues to operate a brokerage is subject to:
- What is the name of the Idaho administrative rules governing real estate licensees?
Practice More Idaho Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Idaho Quiz →