Iowa Real Estate Exam
1,497+ Practice Questions & Answers
Every question includes a detailed explanation. Organized by the 12 topics on the Iowa real estate salesperson exam.
Iowa License Law
171 questions- Which agency regulates real estate licenses in Iowa?
- How many pre-license education hours are required to obtain an Iowa real estate salesperson license?
- How many questions appear on the Iowa real estate salesperson licensing exam?
- What is the minimum passing score required on the Iowa real estate salesperson exam?
- Iowa real estate salesperson licenses are renewed every:
- How many continuing education hours must Iowa real estate licensees complete per two-year renewal period?
- Iowa law requires agency disclosure to be made to consumers:
- In Iowa, a real estate salesperson must work under the sponsorship of a:
- Under Iowa law, which of the following is a ground for license revocation or suspension?
- How long must Iowa real estate licensees retain transaction records?
- In Iowa, a person who wishes to obtain a real estate broker license must first have been licensed as a salesperson for at least:
- Which of the following is generally exempt from Iowa real estate licensing requirements?
- The Iowa Real Estate Commission is composed of how many members?
- A salesperson's license in Iowa is initially issued as:
- Which of the following activities requires a real estate license in Iowa?
- An Iowa licensee who fails to complete the required continuing education before their license renewal deadline will:
- Under Iowa law, real estate advertising must include:
- In Iowa, a broker who wants to operate as a sole proprietor must:
- Which of the following continuing education topics is mandatory for Iowa licensees?
- The Iowa Real Estate Commission has authority to do all of the following EXCEPT:
- An Iowa real estate salesperson who moves to a new brokerage must:
- A real estate license in Iowa may be placed on inactive status when:
- An Iowa real estate licensee who is convicted of a crime involving fraud must report this conviction to the Iowa Real Estate Commission within:
- In Iowa, the Real Estate Commission may accept a 'consent order' (settlement agreement) from a licensee under investigation. This means:
- An Iowa real estate broker must display the brokerage's license:
- Which of the following statements about Iowa's real estate license reciprocity is MOST accurate?
- In Iowa, 'net listing' agreements are:
- A person who acts as a real estate salesperson in Iowa without a license is subject to:
- Iowa requires that continuing education courses for real estate licensees be approved by:
- Under Iowa law, a broker's fiduciary responsibility to their salesperson includes:
- Which of the following must be included on an Iowa real estate licensee's business card?
- In Iowa, a salesperson who wishes to become a broker must complete how many hours of broker pre-license education?
- Iowa real estate license law prohibits licensees from accepting undisclosed compensation from parties other than their designated client. This prohibition relates to which ethical principle?
- If a licensed salesperson's sponsoring broker dies, the salesperson:
- The Iowa Real Estate Commission may discipline a licensee for 'misrepresentation.' This means the licensee:
- Iowa's real estate license law requires a broker to maintain a trust account. Which of the following funds should NOT be deposited into the trust account?
- In Iowa, an unlicensed assistant working for a real estate broker may legally:
- Iowa real estate licensees must notify the Iowa Real Estate Commission within 10 days of any change in:
- The Iowa Real Estate Commission's primary purpose is to:
- An Iowa real estate salesperson license applicant must be at least:
- The Iowa Real Estate Commission can place conditions on a real estate license as part of a disciplinary action. An example of a conditional license would be:
- In Iowa, which of the following persons is EXEMPT from requiring a real estate license to sell real property?
- Under Iowa law, a real estate broker who wants to operate a branch office must:
- Iowa's real estate license law defines 'real estate' to include all of the following EXCEPT:
- An Iowa broker closes a transaction and receives the commission from the seller. The broker then pays a cooperating buyer's agent from an outside brokerage. This payment is known as:
- Iowa law requires a real estate broker to keep escrow account records for a minimum of:
- The Iowa Real Estate Commission has the authority to conduct investigations of licensees. Who can file a complaint with the Commission?
- In Iowa, an exclusive agency listing agreement allows:
- An Iowa licensee who engages in 'churning' (encouraging clients to buy and sell repeatedly to generate commissions) violates the fiduciary duty of:
- Which Iowa administrative body hears appeals from Iowa Real Estate Commission decisions?
- The Iowa Real Estate Commission administers the licensing process for which of the following?
- An Iowa real estate licensee may receive compensation from a transaction only through:
- An Iowa real estate licensee who wants to practice in Nebraska must:
- Under Iowa Code Chapter 543B, what is the minimum age to obtain a real estate salesperson license in Iowa?
- Iowa salesperson licenses must be renewed every how many years?
- How many continuing education hours must an Iowa salesperson complete each renewal period?
- The Iowa Real Estate Commission (IREC) has how many members?
- An Iowa real estate licensee who wishes to become a broker must have how many years of active salesperson experience?
- Under Iowa law, which of the following acts does NOT require a real estate license?
- What Iowa government body has authority to investigate complaints against real estate licensees?
- In Iowa, a salesperson's license is held by:
- An Iowa broker-associate is best defined as:
- Which of the following is required for an Iowa real estate license applicant?
- Which of the following is considered commingling under Iowa license law?
- Under Iowa Code Chapter 543B, a licensee who engages in fraud, misrepresentation, or dishonest dealing faces what penalty?
- An Iowa real estate license that is not renewed on time automatically goes into what status?
- Iowa license law requires that all listing agreements must be:
- A licensed Iowa salesperson moves to a new employing broker. The salesperson must:
- Net listings in Iowa are:
- An Iowa licensee who practices real estate with an expired license is subject to:
- Under Iowa license law, a broker must keep transaction records for how many years?
- An Iowa real estate broker who sponsors salespersons is legally responsible for:
- Iowa requires real estate salesperson applicants to pass which examination?
- Which of the following Iowa real estate activities is exempt from licensing requirements?
- The Iowa Real Estate Commission may place a licensee's license on probation, which means:
- Under Iowa law, 'active' license status means the licensee:
- When must an Iowa real estate broker disclose their license status to a potential buyer or seller?
- An Iowa licensee who receives earnest money must deposit it in the broker's trust account within how many days?
- Under IREC rules, a broker who operates a real estate business without a physical office must:
- The Iowa Real Estate Commission's primary mission is to:
- An Iowa real estate licensee who also holds a mortgage broker license engages in both activities. They must:
- Under Iowa Code Chapter 543B, what is the role of the 'qualifying broker' at a real estate brokerage?
- Iowa allows a licensee to hold a license on inactive status. What can an inactive licensee do?
- An Iowa broker wants to open a second branch office. What must they do?
- Which of the following is a requirement for an Iowa real estate broker license?
- Iowa real estate advertising must include which of the following?
- Iowa requires that a salesperson complete how many hours of continuing education in real estate during each renewal period?
- Under Iowa Code Chapter 543B, a person who acts as a real estate broker without a license is subject to:
- An Iowa real estate brokerage that operates as a limited liability company (LLC) must ensure that:
- The Iowa Real Estate Commission is authorized to take disciplinary action against a licensee for which of the following?
- An Iowa licensee convicted of a crime involving fraud or dishonest dealing faces:
- Iowa real estate salesperson license applicants must be sponsored by:
- Which of the following must appear in Iowa real estate advertising per IREC rules?
- Under Iowa Code Chapter 543B, an Iowa real estate licensee who makes a substantial misrepresentation may have their license:
- An Iowa real estate broker's trust account must be maintained at:
- In Iowa, the pre-license education requirement for a salesperson is currently:
- Iowa law requires that all real estate advertising state that the advertiser is a licensed real estate broker or salesperson. This requirement is known as:
- An Iowa licensee who is convicted of a crime must notify the Iowa Real Estate Commission within:
- Under Iowa Code Chapter 543B, which of the following would be grounds for denial of a real estate license?
- An Iowa broker who is also a licensed home inspector may perform both services for the same transaction as long as they:
- In Iowa, a real estate salesperson cannot do which of the following without direct broker supervision?
- Under Iowa law, when a broker closes their brokerage, what must happen to current listings?
- An Iowa real estate salesperson working under broker Smith wants to moonlight with broker Jones on weekends. Under Iowa license law, this is:
- Iowa's real estate commission structure must comply with federal antitrust laws, which means:
- The Iowa Real Estate Commission may conduct an unannounced audit of a broker's trust account. The purpose of this audit is to:
- Iowa requires licensees to complete a specific mandatory course as part of continuing education. This course is typically:
- An Iowa broker collects a commission from both the buyer and seller without full disclosure and consent. This is:
- Iowa law defines 'real estate brokerage' as the business of:
- When must an Iowa real estate salesperson complete their post-license education?
- Which statement about Iowa real estate license reciprocity is CORRECT?
- Under Iowa Code, what is the maximum term of a real estate license suspension that the IREC may impose without mandatory hearing?
- Under Iowa Code Chapter 543B, which entity is responsible for issuing and regulating real estate licenses in Iowa?
- Iowa's pre-license education requirement for a salesperson applicant is:
- After passing the Iowa licensing exam, how long does an applicant have to apply for a salesperson license before the exam results expire?
- A salesperson licensee in Iowa must work under the supervision of:
- Iowa real estate licenses must be renewed every:
- How many continuing education hours must an Iowa salesperson complete during each 2-year renewal period?
- The IREC may suspend or revoke a license for which of the following violations?
- Under Iowa law, a broker who wishes to operate independently must hold which license?
- What is the purpose of Iowa's real estate trust account requirements?
- The IREC consists of how many members appointed by the Governor?
- An Iowa real estate license placed on inactive status means the licensee:
- Iowa law requires that all listing agreements be:
- Under Iowa Code Chapter 543B, commingling of client funds with the broker's personal or business funds is:
- An Iowa broker who transfers to a new brokerage firm must:
- An Iowa licensee must present all offers to purchase to the seller:
- A 'net listing' in Iowa is one where the broker's commission is:
- Iowa IREC rules require a licensee to disclose to a buyer which of the following about a property they personally own?
- Iowa's real estate license law prohibits a broker from paying a commission or fee to an unlicensed person for:
- The Iowa Real Estate Commission may impose which of the following disciplinary actions against a licensee?
- Under Iowa law, a real estate broker must keep transaction records for a minimum of:
- Iowa's real estate license law requires that the employing broker be responsible for:
- An Iowa real estate license is automatically suspended if the licensee:
- An Iowa broker who operates under a trade name (DBA) must:
- Iowa law requires a real estate broker to maintain an escrow (trust) account that is:
- The Iowa Real Estate Commission's complaint process begins when:
- An Iowa broker may advertise a listing on social media provided that the advertisement:
- Iowa's reciprocal license agreement allows real estate licensees from certain states to obtain an Iowa license by:
- A real estate salesperson in Iowa who independently negotiates a commission with a client without the supervising broker's knowledge is:
- Iowa's broker price opinion (BPO) may be prepared by a licensed broker for:
- Under Iowa Code Chapter 543B, a broker must maintain a registered place of business in Iowa that:
- Iowa's IREC enforces real estate license law primarily through:
- Iowa requires a licensee to disclose their license status when purchasing real property for their own account because:
- Iowa's real estate license examination consists of which two portions?
- Iowa requires a real estate broker to keep a separate record of all earnest money deposits that includes:
- Iowa prohibits a real estate licensee from engaging in which of the following practices regarding property inspections?
- Iowa's IREC requires that all real estate advertising clearly identify:
- A real estate licensee in Iowa who changes their legal name must:
- Iowa's real estate license law requires licensees to report to the IREC within a specified period if they are:
- Iowa's IREC education committee approves continuing education courses that satisfy the renewal requirements. Topics required for Iowa CE may include:
- Iowa permits real estate licensees to work as independent contractors if they:
- Iowa's real estate license law prohibits all of the following EXCEPT:
- Iowa's real estate pre-license broker education requirement is:
- Iowa's IREC rule regarding 'earnest money disbursement disputes' states that when buyer and seller both claim entitlement to earnest money, the broker should:
- Iowa's definition of 'real estate brokerage' under Iowa Code Chapter 543B includes:
- An Iowa associate broker differs from a salesperson in that the associate broker:
- Which of the following persons is NOT required to hold an Iowa real estate license?
- Iowa's salesperson license examination pass rate statistics are published by the:
- Iowa's designated broker of record for a real estate company is responsible for:
- Iowa's continuing education renewal requirement includes which mandatory topic area?
- Iowa's real estate license applicants must be at least:
- Iowa's IREC requires that broker trust account records reconcile the bank balance with the:
- Iowa's real estate license qualification requirements include a background check. Which factor may disqualify an applicant?
- Iowa's IREC discipline for a first-time minor violation by a licensee is most likely to result in:
- An Iowa broker who receives earnest money must deposit it into the trust account within:
- Iowa's IREC prohibits a licensee from using which type of advertising?
- Iowa's unlicensed practice of real estate is a:
- Iowa IREC rules require that all purchase agreements handled by a licensee include which required element?
- Iowa's IREC rule regarding 'net listings' states that they:
- Iowa requires real estate licensees to complete what is often called 'mandatory core' continuing education because:
- In Iowa, a real estate salesperson license applicant must complete how many hours of pre-license education?
Real Estate Math
164 questions- A property in Iowa sells for $215,000. The seller pays a 6% commission. How much commission is paid?
- A rectangular parcel of land measures 330 feet by 660 feet. How many acres is this? (1 acre = 43,560 sq ft)
- A buyer obtains a 30-year $180,000 mortgage at 6.5% annual interest. The monthly payment (principal and interest) is $1,138.24. After the first payment, what is the approximate remaining loan balance?
- An investment property in Iowa has a net operating income of $22,500 and was purchased for $375,000. What is the capitalization rate?
- A salesperson earns 60% of the commission paid to the brokerage. The brokerage receives a 5% commission on a $310,000 sale. How much does the salesperson earn?
- A home sells for $270,000, which is 108% of its assessed value. What is the assessed value?
- An Iowa homeowner's property has a taxable assessed value of $180,000. The tax rate is 20 mills ($20 per $1,000 of assessed value). What is the annual property tax?
- A buyer agrees to purchase a lot that is 150 feet wide and 200 feet deep at a price of $3 per square foot. What is the total purchase price?
- An investor purchases a rental property for $320,000 and finances 75% of the purchase price. How much is the down payment?
- A property manager charges a management fee of 8% of collected rents. In January, the property collected $9,500 in rent. What is the management fee for January?
- A homeowner wants to net $210,000 after paying a 6% commission. At what price must the home sell?
- A property is assessed at $150,000 and the assessment ratio is 80% of market value. What is the estimated market value?
- A seller received $345,000 from the sale of their home. After paying a 5.5% commission and $3,200 in closing costs, what was the net amount to the seller?
- An investment property has a monthly gross income of $4,200 and a vacancy rate of 8%. What is the annual effective gross income?
- A broker lists a property at $425,000 and the buyer offers $400,000. The seller agrees to split the difference. What is the agreed sales price?
- An Iowa property owner owes $125,000 on their mortgage and sells the property for $285,000. After paying a 6% commission and $4,500 in closing costs, what are the proceeds to the seller before paying off the mortgage?
- A listing agreement states the seller will receive $185,000 after the broker's 5% commission. At what price must the property sell?
- A 40-acre Iowa farm sells for $8,500 per acre. What is the total selling price?
- An Iowa homeowner purchased a home for $145,000 and sold it for $218,000 five years later. What was the percentage increase in value?
- An investor bought a rental property for $200,000 and finances it with a 20% down payment. What is the loan amount?
- A commercial property has an annual NOI of $54,000. If the cap rate for similar properties is 6.75%, what is the estimated value?
- A buyer paid $325,000 for a home. Two years later they sell it for $357,500. What was the annual rate of appreciation (simple)?
- A 6-unit apartment building in Iowa has each unit renting for $750/month. What is the annual gross potential income?
- An Iowa buyer's gross annual income is $72,000. Using a 28% front-end ratio, what is the maximum annual housing expense?
- An Iowa homeowner's property has a market value of $265,000. If the assessment ratio is 100% and the tax rate is 25 mills, what is the annual property tax?
- A real estate investor receives monthly rent of $1,800 from a rental property. What is the gross rent multiplier if the property is valued at $216,000?
- A rectangular Iowa farm field measures 1/4 mile by 1/2 mile. How many acres does it contain? (1 mile = 5,280 feet; 1 acre = 43,560 sq ft)
- A buyer secures a $180,000 mortgage at 6% annual interest for 30 years. What is the total interest paid over the life of the loan if the monthly payment is $1,079.19?
- An Iowa appraisal uses the cost approach. The land is worth $45,000, the reproduction cost of the building is $175,000, and the total accrued depreciation is $35,000. What is the indicated value?
- A 1/16 section of land (one sixteenth of a section) in Iowa contains how many acres?
- An investment property has a gross income of $60,000 per year and an operating expense ratio of 45%. What is the NOI?
- An Iowa buyer offers $262,500 for a home. The seller counters at $275,000. They agree to split the $12,500 difference evenly. What is the final sale price?
- An Iowa home was purchased for $198,000. It appreciated at 4% per year for 3 years. What is the approximate value after 3 years?
- An Iowa property sells for $325,000. The commission rate is 6%, split equally between listing and buyer's broker. How much does each broker receive?
- An Iowa investor purchases a duplex for $180,000 and charges $800/month per unit. What is the gross rent multiplier (GRM)?
- An Iowa home is assessed at 100% of market value at $240,000. The local mill rate is 32 mills. What are the annual property taxes?
- An Iowa buyer obtains an 80% LTV mortgage on a $275,000 home. What is the loan amount?
- An Iowa property owner wants to net $215,000 after paying a 5% commission. What must the property sell for?
- An Iowa commercial property has an NOI of $72,000. If the cap rate is 8%, what is the value?
- A rectangular Iowa farm parcel measures 1,320 feet by 2,640 feet. How many acres is this?
- An Iowa home appreciated from $160,000 to $192,000. What is the percentage of appreciation?
- An Iowa salesperson earns 55% of the total 6% commission on a $310,000 sale. How much does the salesperson earn?
- An Iowa property was listed for $289,000 and sold for $275,500. What was the percent below list price?
- An Iowa home listed at $349,900 sells for 97% of list price. What is the sale price?
- An Iowa landlord charges $950/month for a unit. The property taxes are $3,600/year, insurance is $1,200/year, and maintenance is $1,800/year. What is the annual net operating income?
- An Iowa farmland parcel is described as the SW¼ of the NW¼ of Section 12. How many acres is this parcel?
- An Iowa buyer's loan balance starts at $185,000 at 5.5% annual interest. What is the interest portion of the first month's payment?
- An Iowa property assessed at $185,000 has a homestead credit that reduces taxable value by $4,850. At a mill rate of 28, what are the annual taxes?
- A Des Moines condo sold for $215,000. The buyer paid 10% down. The lender charges 1.5 origination points. What is the origination fee?
- An Iowa investor buys a 4-unit apartment building for $320,000. Annual gross rent is $36,000 and expenses are 40% of gross rent. What is the cap rate?
- An Iowa broker receives a 6% commission on a $425,000 sale. The broker's office keeps 40%, and the rest is split equally between the listing and buyer's agents. How much does the listing agent receive?
- What is the transfer tax in Iowa on a $260,000 property sale if the rate is $1.60 per $1,000 of consideration?
- An Iowa property owner receives a tax bill showing an assessed value of $220,000 and an assessment ratio of 100%. The equalization factor is 1.05 and the mill rate is 30. What are the annual taxes?
- An Iowa home is priced at $315,000. The buyer receives a seller concession of 3% toward closing costs. What is the dollar amount of the concession?
- An Iowa property sold for $412,000. The commission was 5.5%. How much total commission was paid?
- An Iowa landlord owns a 6-unit building and charges $750/month per unit. Two units are vacant for 2 months each. What is the annual actual gross income?
- An Iowa property taxes are $4,200/year. The seller lived there for 8 months before closing on September 1. How much does the seller owe the buyer in prorated taxes at closing? (Use a 360-day year.)
- An Iowa buyer's mortgage has a monthly P&I payment of $1,347 and monthly taxes/insurance of $385. What is the total monthly PITI payment?
- What is the area in square feet of an Iowa living room that measures 18 feet by 22 feet?
- An Iowa salesperson earned $15,600 on a transaction, which was 60% of the total commission. The property sold at a 6% commission rate. What was the sale price?
- An Iowa duplex generates $1,450/month per unit. The monthly expenses are $1,200. What is the annual NOI?
- An Iowa property depreciates for tax purposes using straight-line depreciation over 27.5 years. The building value (not land) is $220,000. What is the annual depreciation?
- An Iowa home's sale price is $278,000. The buyer puts 20% down. What is the total down payment amount?
- An Iowa property is assessed at $195,000. The homestead tax credit reduces the tax on the first $4,850 of assessed value. The mill rate is 35 mills. What is the annual property tax?
- An Iowa seller nets $190,000 after a 6% commission and $3,000 in closing costs. What was the sale price?
- An Iowa property is sold. The closing is on October 15. Taxes for the year are $3,600. How much does the seller owe the buyer in prorated taxes? (Use 365 days.)
- An Iowa residential lot measures 75 feet wide by 140 feet deep. What is the lot area in square feet?
- An Iowa property generates annual gross rents of $48,000. A vacancy and collection loss of 5% is deducted. Operating expenses are $22,000. What is the NOI?
- An Iowa buyer's loan is $185,000 with a 30-year term at 6.5%. Using the payment factor of $6.32 per $1,000, what is the monthly P&I payment?
- An Iowa farmland parcel is described as the NE¼ of Section 6, T79N, R20W. How many acres is this parcel?
- An Iowa agent lists a property at $349,000. The seller wants to net $325,000 after paying a 5% commission and $1,500 in closing costs. At the listed price, does the seller achieve their goal?
- An Iowa home purchased for $175,000 is sold 6 years later for $220,000. What is the total percentage gain?
- An Iowa investor purchases a rental property for $275,000, puts 25% down, and finances the rest at 5.75% for 20 years. The monthly payment factor is $7.06 per $1,000. What is the monthly P&I?
- An Iowa commercial building sells for $1,200,000. The buyer pays 30% down. What is the loan amount?
- A Des Moines home listed at $389,900 receives an offer for 95% of list price. What is the offer price?
- An Iowa property is assessed at $260,000. The residential rollback rate is 56.4%. What is the taxable (rolled-back) value?
- An Iowa home sold for $332,500. The listing agent's commission is 3% and the buyer's agent commission is 3%. What is the total commission?
- An Iowa property has potential gross income of $72,000, vacancy loss of 8%, and operating expenses of $28,000. What is the NOI?
- An Iowa buyer finances $225,000 at 5% for 30 years. Using a payment factor of $5.37 per $1,000, what is the monthly P&I?
- An Iowa farmland parcel contains 240 acres and sells for $8,200 per acre. What is the total sale price?
- An Iowa buyer paid $285,000 for a home and sells it 5 years later for $340,000. Ignoring capital gains exclusion, what is the profit?
- An Iowa house has a replacement cost of $305,000. The structure is 10 years old with a 50-year economic life. What is the straight-line annual depreciation?
- An Iowa investor wants a 10% return on a $450,000 investment. What must the annual NOI be?
- An Iowa property owner receives a tax bill for $5,460. The mill rate is 28. What is the assessed value?
- An Iowa property has a gross monthly rental income of $3,200. The gross rent multiplier for the area is 125. What is the estimated market value?
- An Iowa home is listed for $299,500. After negotiations, the buyer and seller agree on a price 2% below list price. What is the agreed sale price?
- An Iowa rental property has an effective gross income of $54,000 and a net operating income of $34,000. What is the operating expense ratio?
- An Iowa buyer's total closing costs are $6,800. The lender allows the seller to contribute up to 3% of the sale price toward closing costs. The sale price is $215,000. How much can the seller contribute?
- An Iowa farm parcel is the S½ of the NE¼ of Section 10. How many acres does it contain?
- An Iowa house sold for $252,000. The buyer paid 20% down and financed the rest at 5% for 25 years. Using a factor of $5.85 per $1,000, what is the monthly P&I?
- An Iowa commercial property has potential gross income of $120,000, a 7% vacancy rate, and operating expenses of $55,000. What is the NOI?
- An Iowa agent earns a 3% buyer's agent commission on a $425,000 sale. The agent's broker takes 30% of the commission. How much does the agent net?
- An Iowa home is listed at $268,000 and sells for $261,500. What is the sale-to-list price ratio?
- An Iowa 160-acre farm sells for $9,500 per acre. What is the total purchase price?
- An Iowa property sells for $320,000. The seller pays a 6% commission. What is the total commission paid?
- An Iowa farmland parcel is described as the NW1/4 of Section 12. How many acres does it contain?
- A buyer in Iowa obtains an 80% LTV mortgage on a $200,000 home. What is the loan amount?
- Annual property taxes on an Iowa home are $3,600. At closing on July 1, which party owes the other a proration, and how much?
- An Iowa investor purchases a rental property for $150,000 and receives annual gross rents of $18,000. The gross rent multiplier (GRM) is:
- An Iowa salesperson earns 60% of the total commission on a sale. The total commission is $12,000. How much does the salesperson receive?
- A buyer's closing costs include 2 discount points on a $180,000 mortgage. How much are the points?
- An Iowa rectangular survey description reads: 'the S1/2 of the NE1/4 of Section 7, T85N, R23W.' How many acres is this parcel?
- An Iowa home is listed at $275,000 and sells for 96% of list price. What is the sale price?
- An Iowa property has a net operating income of $24,000 and a cap rate of 8%. What is the estimated value?
- An Iowa commercial property has annual gross rents of $60,000, a vacancy rate of 5%, and operating expenses of $20,000. What is the net operating income?
- An Iowa farmland parcel sold for $7,800 per acre. The parcel is the E1/2 of the NW1/4 of a section. What is the total sale price?
- A Des Moines investment property is purchased for $400,000 with a 25% down payment. The annual interest rate on the mortgage is 7%. What is the first year's interest expense (interest only)?
- An Iowa property is assessed at $180,000 with a residential rollback of 55% and a levy rate of $35 per $1,000 of taxable value. What is the annual property tax?
- A buyer assumes an existing Iowa mortgage with an outstanding balance of $125,000 at 5.5% annual interest. The next monthly payment is due. How much of that payment is interest?
- An Iowa property sells for $185,000. The buyer pays 3.5% down for an FHA loan. What is the loan amount?
- An Iowa seller nets $215,000 after paying a 6% commission. What was the sale price?
- Monthly rent on an Iowa apartment is $950. A landlord collects first month's rent and 2 months' security deposit at lease signing. What is the total collected?
- An Iowa building depreciates using straight-line depreciation over 27.5 years (residential). The building cost is $220,000. What is the annual depreciation expense?
- An Iowa property manager charges 8% of monthly gross rents collected as a management fee. Monthly rents collected are $12,500. What is the management fee?
- An Iowa real estate investor purchases a 4-unit apartment building for $280,000 and wants to achieve a 10% cash-on-cash return. If the down payment is 25%, what annual cash flow is needed?
- An Iowa property's list price is $189,900. The property sells after a seller concession of $4,500. The buyer's agent and listing agent split the 6% commission on the final sale price. How much does each side earn?
- How many square feet are in a parcel that measures 150 feet by 200 feet?
- An Iowa home was purchased 5 years ago for $160,000. It has appreciated at 4% per year. What is its current value (rounded)?
- A buyer in Iowa agrees to pay $215,000 for a home. The lender requires a 20% down payment. How much must the buyer bring to closing for down payment alone?
- An Iowa seller receives $178,500 after paying all closing costs including a 6% commission and $2,200 in other closing costs. What was the sale price?
- An Iowa apartment building produces monthly gross rents of $8,400. Operating expenses run 35% of gross income. The cap rate for this type of property is 7%. What is the estimated value?
- An Iowa property sells for $220,000. The transfer tax rate is $1.60 per $1,000 of sale price. What is the transfer tax?
- A rectangular Iowa farmland parcel measures 1/4 mile by 1/2 mile. How many acres does it contain?
- An Iowa house sells for $245,000. The listing broker and buyer's broker each receive 3% of the sale price. The listing broker pays their salesperson 55% of the listing side commission. How much does the listing salesperson earn?
- An Iowa commercial lease has an annual base rent of $18 per square foot for 2,500 square feet. What is the monthly rent?
- An Iowa home is listed for $259,000 and receives an offer for $250,000. The sellers counter at $255,000 and the buyer accepts. The listing broker earns 3% and buyer's broker earns 3% of the final sales price. What is the total commission?
- An Iowa buyer wants a monthly principal and interest payment of no more than $1,200. At 7% annual interest on a 30-year fixed mortgage, the payment factor is $6.65 per $1,000 borrowed. What is the maximum loan amount?
- An Iowa investor's property has potential gross income of $120,000, vacancy of 6%, and operating expenses of $40,000. What is the NOI?
- A straight-line depreciation calculation for Iowa commercial property (39-year useful life) on a building valued at $390,000 results in annual depreciation of:
- An Iowa seller lists a property at $299,000. After 60 days with no offers, they reduce the price by 5%. What is the new list price?
- An Iowa buyer's agent helps the buyer purchase a home for $178,000. The buyer's agent earns 2.5% of the sale price. How much does the buyer's agent earn?
- A Des Moines duplex produces $2,200/month per unit. The owner pays annual expenses of $14,400. What is the annual NOI?
- An Iowa homeowner pays $1,650/month on a 30-year mortgage. Over the full loan term, what is the total amount paid?
- An Iowa investment property purchased for $350,000 with a 30% down payment. Annual NOI is $28,000. What is the cap rate?
- An Iowa property has a potential gross income of $84,000/year, a vacancy rate of 8%, and operating expenses of $30,000. What is the NOI?
- An Iowa listing sells after 45 days. Closing costs paid by the seller total $3,800 plus the 6% commission. If the sale price was $235,000, what are the seller's total closing costs including commission?
- How many square feet are in one acre?
- An Iowa buyer makes a $5,000 earnest money deposit on a $195,000 home purchase with an 80% conventional loan. How much additional cash does the buyer need at closing for the down payment (not including closing costs)?
- An Iowa commercial building has 8,000 rentable square feet leased at $14/sq ft/year. The expense ratio is 40%. At a 7.5% cap rate, what is the value?
- An Iowa property manager charges 8% monthly management fee on collected rents. Rents are $15,000/month with a 5% vacancy rate. What is the monthly management fee?
- An Iowa farmland investor purchases 240 acres at $9,500 per acre. What is the total purchase price?
- An Iowa buyer wants to know what percentage of the sale price their $12,000 down payment represents on a $160,000 home purchase.
- An Iowa property's net income before debt service is $45,000. Annual mortgage debt service is $28,000. What is the cash flow before taxes?
- An Iowa home is assessed at $220,000. The state rollback is 55.0873% and the levy rate is $37.50 per $1,000 taxable value. What is the annual property tax?
- An Iowa buyer obtains a mortgage for $175,000 at 6.5% for 30 years. Using a payment factor of $6.32 per $1,000, what is the monthly principal and interest payment?
- An Iowa office building is valued at $1,200,000. A bank will lend up to 75% LTV. What is the maximum loan amount?
- An Iowa property sold for $310,000. The seller paid $3,500 in closing costs, $310 in transfer tax, and a 6% commission. What did the seller net?
- An Iowa lease for 2,200 sq ft at $22/sq ft/year with 3% annual increases. What is the rent in year 2?
- An Iowa investor's property has a market value of $425,000. Annual property taxes are $5,100. What is the effective tax rate as a percentage of market value?
- An Iowa property manager budgets reserves for capital repairs at $0.15 per square foot per month for a 20,000 sq ft building. What is the annual reserve contribution?
- An Iowa buyer making a $185,000 offer requests a $3,500 seller concession toward closing costs. The seller counters at $183,000 with no concession. Which is the lower net cost to the seller?
- An Iowa Section has 6 square miles. True or false?
- An Iowa investment property has annual gross income of $96,000. After 7% vacancy and $32,000 operating expenses, what is the NOI?
- An Iowa home sold for $252,000. The property was purchased 4 years ago for $210,000. What was the percentage appreciation over 4 years?
- An Iowa farmland lease at $200/acre/year for 160 acres. The landowner pays $4,800 in property taxes and earns a 5% net return on investment. What is the indicated farm value?
- An Iowa closing occurs on September 15. Annual property taxes are $4,200. Using a 365-day method, how much does the seller owe the buyer in tax proration?
- A Des Moines commercial property with $500,000 value has a 65% LTV first mortgage. What is the equity?
- An Iowa property has a market value of $310,000 assessed at 100% for commercial use. Levy rate is $42 per $1,000. What is the annual tax bill?
- An Iowa agent earns $9,450 on the sale of a $315,000 home. What is their commission rate?
- An Iowa buyer puts 10% down on a $225,000 home. Closing costs are 3% of the loan amount. How much total cash does the buyer need at closing?
- An Iowa farmland parcel of 80 acres cash rents for $225/acre/year. What is the annual gross rental income?
- An Iowa property is listed at $149,900. It sells at 98% of list price. The commission is 6%. How much commission is paid?
- An Iowa property has a GRM of 9 and monthly gross rents of $1,800. What is the estimated value?
- An Iowa investor needs a 9% cap rate. A property generates $54,000 NOI. What is the maximum purchase price to achieve the target return?
Finance
160 questions- Which of the following loan types is specifically designed for the purchase of manufactured homes and rural properties?
- Amortization in a mortgage refers to:
- A buyer is obtaining a $200,000 mortgage at 7% annual interest. What is the first month's interest charge?
- What is the purpose of an escrow impound account associated with a mortgage?
- The Closing Disclosure (CD) must be provided to the borrower at least how many business days before closing?
- Which federal law requires lenders to provide a Loan Estimate to borrowers within 3 business days of receiving a loan application?
- Private mortgage insurance (PMI) is typically required when a conventional loan's loan-to-value ratio exceeds:
- A buyer purchases a home for $250,000 with a 10% down payment. What is the loan-to-value (LTV) ratio?
- An adjustable-rate mortgage (ARM) typically features:
- The Equal Credit Opportunity Act (ECOA) prohibits lenders from discriminating based on all of the following EXCEPT:
- A balloon mortgage requires the borrower to:
- Which of the following is a primary advantage of an FHA loan for first-time homebuyers?
- Discount points paid at closing are used to:
- An Iowa buyer obtains a VA loan. Which of the following is TRUE about VA loans?
- The Truth in Lending Act (TILA) requires lenders to disclose the Annual Percentage Rate (APR). The APR differs from the interest rate because it:
- A buyer obtains a $240,000 mortgage. The lender charges 1.5 discount points. What is the total cost of the points?
- A mortgage that allows the borrower to pay only the interest each month (without reducing principal) is called a(n):
- A reverse mortgage in Iowa allows homeowners to:
- In Iowa, USDA Rural Development loans are particularly relevant because:
- Regulation Z (Truth in Lending Act) requires that certain loan advertisements include a full disclosure of the loan terms if which of the following is advertised?
- The Community Reinvestment Act (CRA) requires depository institutions to:
- What is the purpose of mortgage underwriting?
- In Iowa, the Iowa Finance Authority (IFA) offers which type of assistance to eligible homebuyers?
- A buyer's debt-to-income (DTI) ratio is calculated as:
- The secondary mortgage market primarily serves what function?
- A buyer in Iowa applies for a mortgage and is turned down. Under ECOA, the lender must:
- In Iowa, the Iowa Division of Banking regulates:
- What is the Home Mortgage Disclosure Act (HMDA) primarily designed to do?
- A jumbo loan in Iowa differs from a conforming loan because:
- In mortgage lending, 'points' are calculated based on:
- An Iowa homebuyer's gross monthly income is $5,500. The front-end (housing expense) ratio limit is 28%. What is the maximum allowable monthly housing payment?
- Which federal act established the framework for the current mortgage disclosure forms (Loan Estimate and Closing Disclosure)?
- A wraparound mortgage in Iowa is a type of creative financing where:
- The purpose of mortgage insurance (MI) for lenders is to:
- An Iowa homeowner has a mortgage with a due-on-sale clause. This clause means:
- Iowa Housing Finance Authority offers Mortgage Credit Certificate (MCC) programs. An MCC allows eligible buyers to:
- What type of mortgage requires the borrower to pay only interest for a set period, after which full principal and interest payments begin?
- In Iowa, judicial foreclosure means:
- What is the Iowa redemption period after a judicial foreclosure sale?
- An Iowa borrower obtains a $200,000 mortgage at 6% annual interest. What is the first month's interest charge?
- What is the purpose of private mortgage insurance (PMI) in Iowa residential lending?
- Under the Iowa Secondary Mortgage Loan Act, which of the following is regulated?
- Which federal law requires lenders to provide a Loan Estimate to mortgage applicants within three business days of application?
- A discount point on a mortgage represents:
- What Iowa-specific program provides down payment assistance to first-time homebuyers?
- In Iowa, which instrument is used to pledge real property as security for a loan while the borrower retains title?
- An Iowa borrower's monthly gross income is $6,500. Their proposed PITI payment is $1,690. What is the front-end (housing) debt-to-income ratio?
- Which Iowa loan type is insured by the federal government and requires a mortgage insurance premium (MIP)?
- In Iowa, a wraparound mortgage is best described as:
- An Iowa buyer purchases farmland using an FSA (Farm Service Agency) loan. What agency administers FSA loans?
- What is the purpose of an amortization schedule on an Iowa mortgage?
- An Iowa homeowner refinances their mortgage to obtain a lower interest rate. The cost-benefit analysis should consider the:
- Under RESPA, which of the following payments is prohibited?
- An Iowa buyer purchases a home with a VA loan. Which statement is TRUE about VA loans?
- What is the Iowa usury law's general purpose?
- An Iowa buyer applies for a $250,000 conventional loan. The lender requires the home to appraise at or above the purchase price. The appraised value comes in at $245,000. The buyer's options include all EXCEPT:
- Iowa farmland is frequently purchased using which type of owner-financed instrument that gives the buyer equitable title while the seller retains legal title?
- A USDA Rural Development loan is available in Iowa to buyers in:
- What does LTV stand for in Iowa mortgage lending, and what does it measure?
- An Iowa adjustable-rate mortgage (ARM) has an initial rate of 4% and can adjust up to 2% per year with a 6% lifetime cap. If the initial rate is 4%, the maximum rate after two adjustments is:
- In Iowa, the Equal Credit Opportunity Act (ECOA) prohibits lenders from discriminating based on:
- An Iowa home buyer's lender requires title insurance as a condition of the loan. Which policy does the lender require?
- Under the Truth in Lending Act (TILA), the Annual Percentage Rate (APR) differs from the note rate because the APR:
- An Iowa farm buyer obtains seller financing at 5% interest on a $400,000 balance. What is the annual interest for the first year?
- What is a balloon mortgage as used in Iowa commercial and agricultural lending?
- An Iowa borrower with a $180,000 mortgage balance wants to calculate their equity in a home appraised at $245,000. What is the equity?
- An Iowa borrower has a home equity line of credit (HELOC) secured by their residence. This instrument is best described as a:
- Under the Community Reinvestment Act (CRA), Iowa financial institutions are evaluated on:
- Iowa uses which system as primary security for most home loans instead of a deed of trust?
- An Iowa buyer receives a Closing Disclosure three days before closing. Under TRID rules, this allows the buyer to:
- An Iowa FHA borrower puts 3.5% down on a $200,000 home. What is the upfront mortgage insurance premium (UFMIP) at the standard rate of 1.75%?
- An Iowa credit union offers a 15-year mortgage at 5% on a $175,000 loan. Using a payment factor of $7.91 per $1,000, what is the monthly P&I payment?
- Under Iowa law, when a home is sold in foreclosure for less than the mortgage balance, the remaining unpaid debt is called a:
- An Iowa borrower refinances a $200,000 mortgage to a lower rate, saving $150/month. The closing costs were $4,500. What is the break-even period?
- An Iowa buyer qualifies for a USDA guaranteed loan. Which statement is TRUE?
- Iowa's Iowa Finance Authority (IFA) provides assistance to first-time homebuyers through programs that include:
- A conventional Iowa mortgage loan that conforms to Fannie Mae/Freddie Mac guidelines is called a:
- Which federal act requires lenders to disclose the Annual Percentage Rate (APR) to Iowa borrowers?
- An Iowa mortgage has an interest rate of 7.5% per year. What is the monthly rate used to calculate interest?
- An Iowa bank issues a construction loan for a new home. After construction is complete, the owner obtains a permanent mortgage. This process is called:
- An Iowa homeowner has a 30-year mortgage with monthly payments of $1,450. After 10 years, what portion of the remaining payments is primarily interest?
- An Iowa escrow impound account held by the lender typically collects monthly amounts for:
- An Iowa buyer wants to compare a 15-year mortgage to a 30-year mortgage on the same loan amount. Which statement is TRUE?
- An Iowa commercial property loan with a 5-year term and 25-year amortization means:
- An Iowa buyer is purchasing a $350,000 home with 20% down. What is the LTV ratio on their mortgage?
- Iowa banks participating in the Federal Home Loan Bank system can use which program to make discounted mortgages to low- and moderate-income buyers?
- When an Iowa buyer assumes an existing mortgage, they:
- An Iowa lender conducts an appraisal as part of the mortgage approval process primarily to ensure:
- Under Iowa's judicial foreclosure process, after the court issues the foreclosure decree, the property is sold at:
- An Iowa home buyer with a VA loan asks whether they need a down payment. The correct answer is:
- Iowa's agricultural lenders sometimes use which type of specialized loan for intermediate-term farm equipment and operating expenses?
- In Iowa, a due-on-sale clause in a mortgage means:
- Which Iowa lending statute requires lenders to provide borrowers with a Good Faith Estimate of closing costs within three business days of application?
- An Iowa lender charges a 1% origination fee on a $185,000 loan. What is the dollar amount of the origination fee?
- Iowa primarily uses which foreclosure process when a borrower defaults on a mortgage?
- In Iowa, which security instrument is most commonly used to secure a mortgage loan?
- Iowa's redemption period after a judicial foreclosure sheriff's sale allows the defaulting borrower to:
- A land contract (contract for deed) in Iowa is a financing arrangement in which:
- Which federal law requires lenders to provide borrowers with a Loan Estimate within 3 business days of a mortgage application?
- In Iowa, a deficiency judgment after foreclosure allows the lender to:
- An Iowa ARM (adjustable-rate mortgage) loan is characterized by:
- Iowa FHA-insured loans differ from conventional loans primarily because:
- Iowa's usury laws historically set limits on:
- The loan-to-value (LTV) ratio on an Iowa property purchase of $250,000 with a $50,000 down payment is:
- Private mortgage insurance (PMI) is typically required by Iowa lenders when:
- Iowa's USDA Rural Development loan program benefits rural property buyers by:
- The Iowa Finance Authority (IFA) First Home Program provides:
- Truth in Lending Act (TILA) disclosures required of Iowa mortgage lenders include:
- An Iowa seller who holds a purchase money mortgage acts as:
- An Iowa borrower who wants to pay off their mortgage faster may make additional principal payments, which will:
- A wraparound mortgage in Iowa real estate involves:
- Iowa's Home Equity Conversion Mortgage (HECM) reverse mortgage program allows eligible Iowa homeowners to:
- Iowa's Homestead Tax Credit reduces property taxes for:
- An Iowa mortgage with a due-on-sale clause means:
- Iowa's Mortgage Credit Certificate (MCC) program allows eligible first-time homebuyers to:
- RESPA (Real Estate Settlement Procedures Act) prohibits in Iowa mortgage transactions:
- Iowa VA loans are available to eligible veterans and offer:
- Iowa's Home Energy Loan program helps homeowners by:
- An Iowa borrower's debt-to-income (DTI) ratio is calculated by dividing:
- Iowa's Farm Service Agency (FSA) loan programs are designed to help:
- A balloon mortgage in Iowa requires the borrower to:
- Iowa's secondary mortgage market allows lenders to:
- Iowa's HMDA (Home Mortgage Disclosure Act) reporting requirements help the public and regulators identify:
- Iowa's Community Reinvestment Act (CRA) obligations require banks to:
- Iowa's assumption of mortgage means:
- Iowa real estate professionals should be aware that a lender's appraisal:
- Iowa's equal credit opportunity act (ECOA) enforcement prohibits lenders from discriminating in credit decisions based on:
- Iowa's Construction to Permanent loan is a financing product that:
- Iowa's mortgage acceleration clause allows the lender to:
- Iowa's credit union mortgage lending differs from bank lending primarily in that:
- Iowa's Farm Credit System provides financing specifically for:
- Iowa's Home Improvement Loan programs administered by local governments or CDFIs help:
- An Iowa borrower who is 'upside down' in their mortgage owes:
- Iowa's short sale in real estate occurs when:
- Iowa's deed in lieu of foreclosure allows a defaulting borrower to:
- Iowa's Uniform Land Transactions Act (ULTA) or comparable Iowa statutes affect real estate finance by:
- Iowa's conventional mortgage loan conforming limit is set by:
- Iowa's points paid on a purchase money mortgage may be deductible for federal income tax purposes in the:
- Iowa's Truth in Lending annual percentage rate (APR) is higher than the stated note rate because:
- Iowa's promissory note is the borrower's:
- Iowa's 'equity of redemption' allows a mortgagor (borrower) to:
- A mortgage assumption in Iowa where the lender releases the original borrower from personal liability is called:
- Iowa's owner-financing (seller carry-back) arrangement requires the parties to:
- Iowa's community development block grant (CDBG) funds administered through Iowa communities may be used for:
- Iowa's 1031 (like-kind) tax-deferred exchange allows an Iowa investor to:
- Iowa's Iowa Jobs Now program or similar state economic development programs may provide real estate incentives in the form of:
- Iowa's Opportunity Zone program created by the Tax Cuts and Jobs Act of 2017 provides incentives for:
- Iowa's seller financing may include an 'interest only' period in which:
- Iowa's Iowa Bankers Association real estate lending guidelines encourage banks to maintain:
- Iowa's Farm Credit Services of America provides which type of financing for Iowa real estate?
- Iowa's Iowa Finance Authority (IFA) Mortgage Credit Certificate (MCC) program is available to:
- Iowa's rural housing market may benefit from USDA Section 515 loans, which provide:
- Iowa's Low Income Housing Tax Credit (LIHTC) program attracts private investment in affordable rental housing by:
- Iowa's mortgage banker differs from a mortgage broker in that a mortgage banker:
- Iowa's graduated payment mortgage (GPM) is characterized by:
- Iowa's homeowner's insurance is typically required by mortgage lenders because:
- Iowa's adjustable-rate mortgage (ARM) caps limit which of the following?
- Iowa's Community Reinvestment Act (CRA) ratings for Iowa banks affect:
- Iowa's prepayment penalty on a residential mortgage loan is:
- Iowa's Iowa Homebuyer Education program, often required for certain loan programs, teaches prospective buyers about:
Contracts
139 questions- Under Iowa contract law, an offer to purchase real estate may be revoked by the buyer:
- A purchase contract contains a condition requiring the buyer to sell their current home before closing. This is known as a:
- Novation in a real estate contract context means:
- Which of the following is an example of an executory contract?
- In Iowa, a buyer who discovers fraud or misrepresentation AFTER closing may seek which of the following remedies?
- A lease agreement for more than one year must be in writing under Iowa's Statute of Frauds. This requirement exists because:
- Which of the following is NOT an essential element of a valid real estate contract in Iowa?
- An Iowa buyer makes an offer of $185,000. The seller counters at $192,000. The buyer then offers $189,000. At this point:
- In Iowa, earnest money deposited with a real estate broker must be placed in:
- A contract term stating 'time is of the essence' means:
- Which of the following BEST describes an option contract in real estate?
- A real estate contract signed by a minor in Iowa is:
- Which of the following would make a real estate contract void in Iowa?
- In Iowa, an addendum to a purchase agreement must be:
- In Iowa, the Seller's Disclosure of Property Condition form must be provided by the seller to the buyer:
- What is the difference between an 'as-is' sale clause and the seller's duty to disclose in Iowa?
- Specific performance is a legal remedy in Iowa real estate contracts that:
- In Iowa, earnest money that is being held in dispute may be:
- A land contract (contract for deed) in Iowa is a financing arrangement where:
- A purchase agreement that includes an inspection contingency typically allows the buyer to:
- Which of the following BEST describes consideration in a real estate contract?
- In Iowa, the seller's property disclosure form covers all of the following EXCEPT:
- In Iowa, an offer to purchase becomes a binding contract when:
- A unilateral contract in real estate is characterized by:
- An Iowa purchase agreement contains a financing contingency. If the buyer cannot obtain financing within the contingency period, the buyer:
- In Iowa, a purchase agreement that is subject to a 'kick-out clause' allows:
- An Iowa listing agreement is a contract between:
- In Iowa, the term 'meeting of the minds' in contract law means:
- An Iowa seller accepts a buyer's offer, but the acceptance includes a minor change to the closing date. This creates:
- A 'subject to' clause in a real estate purchase agreement means:
- In Iowa, a buyer who defaults on a purchase contract by refusing to close may face which of the following as a potential remedy for the seller?
- A seller in Iowa is NOT required to disclose which of the following on the Seller's Disclosure of Property Condition form?
- The purpose of a 'merger' doctrine in Iowa real estate law is that:
- Under Iowa contract law, what is the effect of a counteroffer on the original offer?
- In Iowa, earnest money deposited with a listing broker is typically held in:
- Which element is NOT required for a valid real estate contract in Iowa?
- An Iowa purchase agreement includes a financing contingency. If the buyer cannot obtain financing, what is the likely outcome?
- What is the legal term for when both parties to an Iowa real estate contract agree to release each other from all obligations?
- Under Iowa law, which party typically prepares the purchase agreement in a residential real estate transaction?
- An Iowa buyer signs a purchase agreement but the seller never signs. What is the status of the contract?
- In Iowa, a listing agreement is legally classified as what type of contract?
- Which Iowa real estate contract clause allows the seller to continue marketing the property and accept a better offer if the buyer doesn't remove a contingency within a specified time?
- Under Iowa law, what is 'specific performance' in a real estate contract dispute?
- An Iowa seller accepts a buyer's offer on Sunday. The buyer has three days to inspect the property per the contract. What day does the inspection period end?
- An Iowa land contract (contract for deed) differs from a mortgage because:
- Which Iowa doctrine protects a buyer who records an interest in property without actual knowledge of a prior unrecorded interest?
- Under Iowa real estate contract law, the term 'time is of the essence' means:
- In Iowa, an option contract in real estate gives the optionee the:
- Which Iowa doctrine prevents a party from using parol (oral) evidence to contradict the terms of a written real estate contract?
- In Iowa, a purchase agreement signed by a 16-year-old buyer is:
- An Iowa seller wants to close quickly and accepts a buyer's all-cash offer with no contingencies. The buyer then defaults. What remedy is MOST likely available to the seller?
- An Iowa buyer is purchasing an older farm property and uses an 'as-is' clause in the purchase agreement. This means:
- What is the difference between an executed contract and an executory contract in Iowa real estate?
- Iowa's Statute of Frauds requires which real estate agreements to be in writing to be enforceable?
- What is the legal effect of a buyer's conditional acceptance of a seller's counteroffer in Iowa?
- In Iowa, the closing date specified in a purchase agreement refers to:
- If an Iowa purchase agreement is silent on who pays the closing costs, what governs?
- In Iowa, which type of listing gives a seller the right to sell the property themselves without owing the broker a commission, but the broker earns a commission if the broker procures the buyer?
- Under Iowa law, a purchase agreement contingent on inspection allows the buyer to:
- An Iowa contract for the sale of real estate must contain a legal description of the property to be:
- What is the difference between an assignment and a novation of an Iowa real estate contract?
- An Iowa seller accepts an offer on Monday. On Tuesday, before the buyer was notified of acceptance, the seller receives a better offer. What is the legal status?
- In Iowa, what happens if a buyer's earnest money check bounces (is dishonored by the bank)?
- Under Iowa real estate practice, what is an addendum to a purchase agreement?
- An Iowa buyer submits an offer that includes a home sale contingency, giving them 30 days to sell their current home. This contingency protects the buyer by:
- In Iowa, what is the typical remedy when a seller breaches a real estate contract by refusing to sell?
- An Iowa purchase agreement includes an escalation clause stating the buyer will beat any competing offer by $2,000 up to a maximum of $315,000. A competing offer comes in at $308,000. What is the buyer's escalated price?
- Under Iowa contract law, what is the doctrine of merger as applied to a real estate transaction?
- An Iowa real estate contract is said to be 'void' when:
- In Iowa, an oral lease for exactly one year is typically:
- What is the difference between a void and a voidable Iowa real estate contract?
- In Iowa, an offer in a real estate transaction must include all of the following EXCEPT:
- In Iowa, what is the legal significance of a buyer giving a 'personal property' list in the purchase agreement?
- Iowa's 'option to purchase' contract differs from a regular purchase agreement because:
- An Iowa court may grant rescission of a real estate contract when:
- An Iowa seller receives two offers at the same time. The seller is permitted to:
- An Iowa buyer signs a purchase agreement but then discovers the home sits on a 100-year floodplain that was not disclosed. The buyer may be able to:
- Under Iowa contract law, what must an offeree do to reject an offer?
- An Iowa seller counters a buyer's offer and gives the buyer 48 hours to respond. Before the 48 hours are up, the seller revokes the counter. Is the revocation valid?
- An Iowa listing agreement includes a safety clause (protection period clause). This clause protects the broker's commission if:
- Under Iowa law, an amendment to a purchase agreement must be:
- An Iowa real estate contract that is induced by undue influence is:
- An Iowa buyer requests the seller to complete certain repairs before closing. The seller agrees and repairs are listed in a contract addendum. These repairs become:
- An Iowa seller who dies after accepting a purchase agreement but before closing—does the contract:
- In Iowa, a contract for the purchase of a property worth more than $500 must generally be in writing under:
- An Iowa real estate contract includes a 'survival clause.' This means certain provisions:
- For an Iowa real estate purchase agreement to be legally enforceable, which element is NOT required?
- Under the Iowa Statute of Frauds, a contract for the sale of real property must be:
- In Iowa, an earnest money deposit made with a purchase offer is best described as:
- An Iowa real estate contract contingency that allows the buyer to cancel if they cannot obtain financing is called a:
- A counteroffer in Iowa real estate has which legal effect on the original offer?
- Under Iowa law, which of the following contract terms allows a buyer to inspect the property and cancel if unsatisfied?
- Iowa's seller disclosure law (Iowa Code Chapter 558A) requires sellers of residential property to:
- Under Iowa Code Chapter 558A, when must the seller deliver the disclosure statement to the buyer?
- If a seller fails to disclose a known material defect in Iowa, the buyer's potential remedies include:
- A 'time is of the essence' clause in an Iowa purchase agreement means:
- A purchase agreement in Iowa becomes binding when:
- A contract for the sale of Iowa real estate signed by a 16-year-old buyer is:
- An option contract in Iowa real estate gives the buyer:
- Specific performance as a remedy for breach of an Iowa real estate contract means:
- An Iowa as-is clause in a purchase agreement means:
- In Iowa, which of the following is typically a contingency that protects the seller rather than the buyer?
- Liquidated damages in an Iowa real estate purchase agreement typically refers to:
- Rescission of an Iowa real estate contract means:
- An Iowa lease agreement for more than one year must be:
- An Iowa purchase agreement clause that states 'this offer is contingent upon the sale of buyer's current home' is:
- Iowa's parol evidence rule in contract disputes means that:
- An Iowa buyer's agent who submits an offer without disclosing a material defect known to the buyer is:
- In Iowa, an earnest money check returned for insufficient funds from the buyer:
- An Iowa installment land contract is subject to which risk for the buyer?
- When an Iowa seller accepts a backup offer, this means:
- An Iowa purchase agreement closing date is described as 'on or before December 15.' This means:
- Iowa's 3-day right of rescission under TILA/RESPA applies to:
- Force majeure (act of God) provisions in Iowa real estate contracts address:
- An Iowa seller who accepts an offer and then receives a higher offer cannot simply void the first contract because:
- An Iowa real estate contract that lacks mutual assent (meeting of the minds) is:
- Under Iowa law, which of the following would be considered a material fact that must be disclosed in a residential sale?
- Iowa's Right of First Refusal clause in a real estate contract gives a specified party the right to:
- Iowa's residential purchase agreement 'lead-based paint disclosure addendum' is required for:
- An Iowa 'kick-out clause' in a home sale contingency gives the seller the right to:
- Under Iowa law, an agent's authority to sign a contract on behalf of a principal must be:
- Iowa's purchase agreement form used by most REALTORS® is published by the:
- An Iowa court may enforce a real estate contract through which equitable remedy when a party refuses to perform?
- Iowa's doctrine of merger in real estate closing means:
- Iowa's contract integration clause (merger clause) states that:
- Iowa's contract addendum differs from an amendment in that:
- Iowa's 'as-is' addendum to a residential purchase agreement provides the seller with limited protection while:
- A seller in Iowa receives two offers simultaneously. The seller may legally:
- Iowa's contract of sale (purchase agreement) typically specifies which party is responsible for prorating the property taxes at closing?
- Iowa's purchase agreement's due diligence period allows the buyer to:
- Iowa's residential purchase offer typically expires after how long if not accepted by the seller?
- Iowa's assignment of contract clause allows the buyer to:
- Iowa's appraisal contingency in a purchase agreement protects the buyer by:
- Iowa's home inspection report is used primarily by the buyer to:
- Iowa's electronic signature (Iowa Uniform Electronic Transactions Act) allows real estate contracts to be:
- Iowa's real estate contracts often use the phrase 'time is of the essence.' What happens if a party fails to meet a contractual deadline?
- Iowa's 'walk-through' inspection prior to closing allows the buyer to:
- Under Iowa law, an oral modification to a written real estate contract is:
- Iowa's real estate purchase agreement typically provides that possession of the property transfers to the buyer:
Property Ownership
139 questions- In Iowa, two spouses buy a home together and want to ensure the surviving spouse automatically inherits the property. They should hold title as:
- A prescriptive easement (easement by prescription) is similar to adverse possession in that it requires:
- Which of the following BEST describes a cooperative (co-op) ownership arrangement?
- The term 'riparian rights' refers to property owners' rights related to:
- Police power allows the government to:
- In Iowa, which of the following is an example of real property?
- The tests for determining whether an item is a fixture include all of the following EXCEPT:
- Under Iowa law, a life estate grants the holder:
- Adverse possession in Iowa requires the occupation to be all of the following EXCEPT:
- A deed restriction that prohibits a property owner from operating a commercial business on a residential lot is an example of:
- In Iowa, the homestead exemption:
- The term 'appurtenance' refers to:
- Fee simple absolute is BEST described as:
- A deed that contains the grantor's covenant that the grantor will defend the grantee's title against the claims of all persons is a:
- A special warranty deed differs from a general warranty deed in that it:
- Tenancy in common in Iowa is characterized by:
- Iowa's Marketable Title Act is intended to:
- The right of first refusal in a real estate context means:
- An encroachment in Iowa real estate occurs when:
- An easement by necessity in Iowa is typically created when:
- Which of the following BEST defines 'bundle of rights' in real estate?
- In Iowa, dower and curtesy rights:
- Which of the following BEST describes a license in real estate (not a broker's license)?
- The government's right to take title to property when a person dies without heirs or a valid will is called:
- In Iowa, 'intestate succession' refers to how property is distributed when a person dies:
- When personal property becomes permanently attached to real property and becomes part of the real estate, it is called a:
- A condominium owner in Iowa owns:
- In Iowa, when a parcel of real estate is transferred to two or more persons without specifying the form of co-ownership, Iowa law presumes:
- A deed restriction that prohibits the construction of any building within 50 feet of a property's front lot line is an example of:
- Under the Iowa Homestead Act, what protection does the homestead exemption provide?
- In Iowa, a mechanic's lien may be filed by:
- What is the primary difference between a general warranty deed and a quitclaim deed in Iowa?
- Iowa joint tenancy requires which of the four unities?
- Under Iowa law, what happens to a joint tenant's interest when one joint tenant dies?
- An Iowa property owner grants a neighbor the right to use a path across the property to access a lake. This is an example of:
- Under Iowa law, adverse possession requires continuous, open, notorious, hostile, and exclusive use for how many years?
- In Iowa, a life estate measured by the life of a third party (not the life tenant) is called:
- Which type of co-ownership in Iowa allows spouses to each hold an undivided interest with no right of survivorship?
- A fixture in Iowa real estate is best defined as:
- In Iowa, the doctrine of 'waste' in a life estate context means:
- Under Iowa law, which of the following is considered real property?
- Iowa's agricultural land ownership restrictions under Iowa Code Chapter 9H:
- A property owner in Iowa grants permission to a utility company to run power lines across their land. This most likely creates a(n):
- In Iowa, a deed restriction that runs with the land binds:
- In Iowa, which type of deed provides the greatest protection to the buyer?
- Iowa's Marketable Title Act is designed to:
- In Iowa, a special warranty deed warrants title only against:
- In Iowa, when real property passes to the state because an owner dies without a will and without known heirs, this is called:
- Under Iowa law, a riparian water rights owner whose property borders the Iowa River has the right to:
- What Iowa government program allows farmers to preserve prime agricultural land from development in exchange for conservation easements?
- In Iowa, a prescriptive easement is similar to adverse possession except:
- An Iowa homeowner installs a new septic system entirely on their property. The septic system is best classified as:
- Under Iowa law, a tenancy in common may be terminated by:
- Iowa farmland is described using which legal description system?
- A restrictive covenant in an Iowa subdivision prohibits building structures over 2 stories. An owner violates this by building a 3-story home. Neighboring property owners may:
- Iowa's Torrens system of land title registration is:
- In Iowa, 'color of title' refers to:
- An Iowa couple owns a home in joint tenancy and divorces. After divorce, what type of ownership do they typically hold?
- What is the legal description for a parcel described as the E½ of the SE¼ of Section 14, Township 80N, Range 22W in Iowa?
- In Iowa, a trust deed used in a real estate transaction involves which three parties?
- Iowa law allows for which type of homeownership where residents own shares in a corporation that owns a building rather than owning individual units?
- An Iowa condominium owner's interest includes:
- Under Iowa's Horizontal Property Act governing condominiums, the condominium association is responsible for:
- Iowa's Iowa Groundwater Protection Act (Chapter 455E) is relevant to real estate because:
- Iowa farmland frequently involves a 'cash rent' lease where the tenant pays a fixed rent per acre. The landlord in this arrangement typically:
- What is a 'crop share' lease commonly used in Iowa agriculture?
- An Iowa landowner grants a conservation easement to a land trust. This means:
- In Iowa, a defeasible fee (fee simple defeasible) is:
- Under Iowa law, a judgment lien attaches to real property in a county when it is:
- An Iowa property owner has an encroachment from a neighbor's fence that has existed for 15 years. If the property owner wants to address this, they should:
- In Iowa, what type of deed is typically used when a property is transferred through a court-ordered sale (such as a sheriff's sale)?
- Iowa's Marketable Title Act (Iowa Code Chapter 614A) extinguishes interests not re-recorded after how many years?
- When personal property is converted to real property by permanent attachment, this is called:
- Under Iowa law, which of the following encumbrances affects the use of the property (as opposed to its financial title)?
- In Iowa, a property owner who fails to pay property taxes may lose the property through a process called:
- Under Iowa law, which document transfers ownership to the purchaser at a tax sale?
- An Iowa landowner sells their property but retains a reversionary interest. This means:
- In Iowa, which type of property interest gives the holder the broadest, most complete ownership rights?
- An Iowa farm uses tile drainage to remove excess water from fields. The tile system is best classified as:
- An Iowa property owner passes away with no will and no known heirs. Under Iowa law, the property will:
- In Iowa, which type of tenancy is created when a tenant holds over after a lease expires with the landlord's permission?
- Iowa's Horizontal Property Act governs:
- An Iowa property owner grants a right-of-way to a municipality for a sidewalk along the front of their property. This creates a(n):
- Under Iowa law, mineral rights can be severed from surface rights, meaning:
- In Iowa, when a property is sold and the deed is delivered but not yet recorded, the transfer of title is:
- Iowa's foreign land ownership restrictions (Iowa Code Chapter 9H) are triggered when:
- An Iowa property has both a surface owner and a separate mineral rights owner. If an oil company wants to drill, they must obtain permission from:
- Iowa law allows property to be transferred at death without probate through a:
- An Iowa tenant farmer has farmed the same ground for 11 years under a written lease that is renewed annually. After the lease expires and no new lease is signed, the tenant continues to farm. What type of tenancy exists?
- Iowa's Homestead Act protects a qualifying homeowner by:
- Under Iowa law, which form of co-ownership includes the right of survivorship?
- Iowa tenancy in common is characterized by:
- Iowa does NOT recognize which form of co-ownership traditionally reserved for married couples in many states?
- A fee simple absolute estate in Iowa is best described as:
- In Iowa, adverse possession requires the claimant to occupy the property openly, continuously, hostile/under claim of right, and exclusively for at least:
- An Iowa life estate grants the life tenant:
- Iowa farmland ownership is significant because Iowa is:
- A deed restriction in Iowa is an example of which type of encumbrance?
- Under Iowa law, an easement by prescription is similar to adverse possession in that it requires:
- Iowa condominium ownership under Iowa Code Chapter 499B involves:
- A cooperative (co-op) housing arrangement in Iowa differs from a condominium in that:
- An Iowa time-share ownership interest in a vacation property typically grants the owner:
- Which of the following is an example of personal property (chattel) rather than real property in Iowa?
- In Iowa, a fixture is personal property that has become real property when it is:
- Iowa's Alien Land Ownership Act historically restricted:
- A partition action in Iowa allows:
- A mechanic's lien in Iowa arises when:
- Iowa's groundwater law follows which doctrine for water rights?
- Surface rights and mineral rights in Iowa can be:
- An Iowa owner in fee simple who conveys their property by deed retains:
- Iowa's Torrens title system (where available) differs from the recording system in that it:
- Iowa's Marketable Title Act helps real estate practitioners by:
- An Iowa property owner grants an easement to a utility company to install power lines across the property. This is an example of:
- Iowa's doctrine of waste prohibits a life tenant from:
- Iowa's Dower and Curtesy rights, once available to surviving spouses, have been:
- In Iowa, an encroachment occurs when:
- Iowa's agricultural land in a 100-year floodplain may be subject to restrictions under:
- Iowa's air rights above a property are part of the:
- Iowa's subsurface (mineral) rights can be sold or leased to oil and gas companies. When sold separately, the resulting ownership arrangement is called:
- An Iowa property held in a living trust is titled in the name of:
- Iowa's probate process for real property can be avoided through which ownership/transfer strategy?
- Iowa's Transfer on Death (TOD) deed allows a property owner to:
- Iowa law provides for the public dedication of land for roads and parks through:
- Iowa's real estate sales to non-Iowans trigger which federal reporting requirement for large cash transactions?
- Iowa's riparian buffer strips required along some waterways are:
- Iowa's tax sale process allows a county to sell a certificate of purchase on real property when the owner:
- An Iowa property owner receives a special assessment from the city for sidewalk replacement in front of their property. This assessment is:
- Iowa's statute regarding bona fide purchaser status requires the buyer to:
- Iowa's fee simple determinable estate automatically terminates if:
- Iowa's fee simple subject to condition subsequent differs from a fee simple determinable in that:
- Iowa condominium unit owners are obligated to pay assessments to the homeowners or condominium association because:
- Iowa's horizontal property act (Iowa Code Chapter 499B) applies to:
- Iowa's agricultural land transfer in a 1031 exchange must involve:
- Iowa's family limited partnership (FLP) may be used in real estate to:
- Iowa's LLC (limited liability company) for real estate ownership provides owners with:
- Iowa's real estate investment trust (REIT) allows investors to:
- Iowa's riparian water rights affecting real property are important because:
- Iowa's quiet title action is a lawsuit filed to:
- Iowa's earnest money, if forfeited to the seller upon buyer default, may be subject to which Iowa rule?
Property Valuation
120 questions- When using the sales comparison approach, an appraiser makes adjustments to comparable sales prices because:
- Which of the following BEST defines 'market value'?
- In the cost approach, the estimated value of land is:
- A single-family home has comparable sales ranging from $195,000 to $215,000 after adjustments. The appraiser gives the most weight to the comparable most similar to the subject. The final estimated value is likely to be:
- Which approach to value is MOST appropriate for appraising a newly constructed public library?
- Functional obsolescence as a form of depreciation in real estate refers to:
- External (economic) obsolescence as a form of depreciation is BEST described as:
- An appraiser uses the income capitalization approach to value a 10-unit apartment building with a gross annual income of $120,000, vacancy and collection loss of 5%, and operating expenses of $50,000. The cap rate is 7%. What is the estimated value?
- Which principle of value states that the value of a property is affected by the value of surrounding properties?
- The principle of substitution states that:
- Gross Rent Multiplier (GRM) is calculated by:
- An appraiser is evaluating a commercial property with the following: Potential Gross Income = $80,000; Vacancy = 5%; Operating Expenses = $35,000. What is the Net Operating Income?
- The highest and best use of a property is defined as the reasonably probable use that is:
- An appraisal is defined as:
- Which of the following is an example of physical (curable) depreciation?
- The income approach to value is MOST appropriate for which type of property?
- A comparable sale used in the sales comparison approach should ideally be:
- The principle of 'progression' in real estate value states that:
- An appraiser values a single-family home in Iowa using the sales comparison approach. The subject has a two-car garage; one comparable sold with a one-car garage for $215,000. If the garage difference is worth $5,000, the adjusted comparable value is:
- In Iowa, a county assessor determines the assessed value of real property primarily for:
- Depreciation in real estate appraisal means:
- In Iowa, an ad valorem tax means the tax is based on:
- When a comparable property used in the sales comparison approach is inferior to the subject in a specific characteristic, the appraiser should:
- Reproduction cost in appraisal means:
- Which appraisal approach is most commonly used for appraising a single-family home in Des Moines?
- An Iowa appraiser is calculating the cost approach for a property. The replacement cost is $280,000, accrued depreciation is $42,000, and land value is $55,000. What is the appraised value?
- What is economic obsolescence in Iowa appraisal practice?
- In Iowa farmland valuation, which factor is typically most important?
- An Iowa income property has an NOI of $48,000 and is valued at $600,000. What is the capitalization rate?
- The principle of substitution in Iowa appraisal states that:
- An Iowa appraiser makes a positive adjustment of $5,000 to a comparable sale. This means:
- In Iowa, the gross rent multiplier (GRM) for a rental home is calculated as:
- Functional obsolescence in Iowa real estate appraisal refers to:
- Iowa farmland with a CSR2 of 85 typically commands a premium over land with a CSR2 of 50 primarily because:
- In Iowa, the comparable sales approach requires the appraiser to find sales of properties that are:
- An Iowa property's effective age differs from its actual age because:
- Iowa agricultural land is often valued using a capitalized income approach. If a 160-acre farm generates $240 cash rent per acre and the cap rate is 4%, what is the indicated value?
- The principle of progression in Iowa appraisal states:
- Which Iowa property type would most likely be appraised using the income approach?
- In Iowa, which value concept do property tax assessors use?
- The Iowa Department of Revenue publishes an equalization order when:
- An Iowa appraiser using the cost approach calculates the replacement cost of a building at $350,000. Physical depreciation is $70,000, functional obsolescence is $15,000, and land value is $65,000. What is the indicated value?
- Iowa's agricultural land values have historically been most correlated with:
- In an Iowa appraisal report, the term 'market value' means:
- When appraising an Iowa farm, the appraiser values the dwelling separately from the agricultural land because:
- An Iowa appraiser is reconciling the three approaches to value. She assigns greatest weight to the sales comparison approach. This is appropriate when:
- Iowa county assessors re-assess all property at least every how many years?
- What does 'highest and best use' mean in Iowa appraisal practice?
- An Iowa investor wants to compare two rental properties using the gross rent multiplier. Property A: $240,000 price, $1,800/mo rent. Property B: $310,000 price, $2,200/mo rent. Which is the better value?
- An Iowa appraiser is asked to perform a restricted appraisal report. This type of report:
- The income capitalization approach divides NOI by the cap rate to find value. If a Des Moines apartment has an NOI of $85,000 and comparable properties sell at a 7% cap rate, what is the value?
- In Iowa, the term 'assemblage' in real estate refers to:
- What is the physical deterioration of an Iowa rental property that is considered 'incurable'?
- An Iowa appraiser finds that adding a second bathroom to a home increases its value by $8,000 but costs $15,000 to construct. This is an example of:
- Iowa property assessed values are set by the county assessor as of January 1 of the assessment year and reflect:
- An Iowa appraiser is using paired sales analysis. The purpose of this technique is to:
- An Iowa property's land is valued at $75,000 and the improved value is $295,000. What is the percentage of value attributable to the land?
- When Iowa agricultural land is appraised, the appraiser must consider which factor unique to farmland?
- In Iowa, which type of value is used for property tax purposes?
- An Iowa appraiser makes an adjustment of −$3,000 to a comparable sale that has a fireplace but the subject does not. This means the appraiser believes the fireplace:
- Iowa law requires county assessors to provide notice of property assessment to owners. A property owner who disagrees with their assessment may:
- Which Iowa appraisal approach relies on the principle that an investor will pay only what the benefits of owning the property are worth?
- In Iowa, which property type would typically NOT be appraised using the sales comparison approach as the primary method?
- The principle of anticipation in Iowa appraisal holds that:
- Iowa assessors use mass appraisal to value properties. The primary advantage of mass appraisal is:
- An Iowa appraiser is preparing a desktop appraisal using available data without a physical inspection. What limitation applies?
- An Iowa appraiser reconciles the three approaches to value and gives the income approach 60% weight, sales comparison 30%, and cost approach 10% for a large apartment complex. This is appropriate because:
- An Iowa appraiser finds three comparable sales for a subject property. Sale 1 is $225,000, Sale 2 is $231,000, and Sale 3 is $228,500. After adjustments, the appraiser concludes $229,000. This process is called:
- Iowa's property tax exemptions include which of the following?
- An Iowa appraiser is comparing three buildings using the cost approach. The reproduction cost differs from replacement cost in that:
- Iowa agricultural land values differ significantly from urban residential values primarily because:
- The principle of conformity in Iowa appraisal states that:
- An Iowa appraiser determines the value of a property using the income approach. The subject property has an NOI of $60,000 and comparable properties are capitalized at 6.5%. What is the value?
- In Iowa, an assessor's determination of 'actual value' for property tax purposes is considered:
- In Iowa appraisal, the term 'plottage increment' refers to:
- An Iowa appraiser must comply with which professional standards governing appraisal practice?
- An Iowa property's market rent is $1,200/month but the current tenant pays $900/month under a long-term lease. The difference between market and contract rent is called:
- An Iowa appraiser is asked to determine the 'as-is' value of a property with deferred maintenance. This value reflects:
- An Iowa property sold for $380,000. The selling expenses were $25,000. The cost basis was $295,000. What is the capital gain?
- The appraisal approach most commonly used to value Iowa farmland is:
- Iowa's Corn Suitability Rating 2 (CSR2) is a soil index used primarily to:
- The income capitalization approach to value is most appropriate when appraising:
- In Iowa, the cost approach to value estimates property value by:
- An Iowa appraiser adjusting sales comparables makes a downward (negative) adjustment when:
- External obsolescence as a form of depreciation in Iowa real property appraisal refers to:
- Iowa property taxes are based on:
- Iowa property is assessed at what percentage of its actual value for most residential properties?
- In a capitalization rate analysis, if an Iowa investment property has a NOI of $30,000 and the market cap rate is 6%, the indicated value is:
- Highest and best use in Iowa appraisal practice is defined as the use that is:
- An Iowa appraisal performed for a federally related transaction must comply with:
- The principle of substitution in Iowa appraisal theory states that:
- Assemblage in Iowa real estate refers to:
- Functional obsolescence in an Iowa property appraisal refers to:
- An Iowa property's effective age is:
- Iowa's county assessor reassesses all properties at least every:
- Iowa property owners who disagree with their assessment may appeal first to the:
- In Iowa, the sales comparison approach requires the appraiser to make adjustments for differences between comparable sales and the subject property. A comparable with an extra full bathroom compared to the subject would require:
- Iowa farmland capitalization rates (cap rates) used in the income approach for farm valuation are typically:
- The principle of anticipation in Iowa appraisal theory holds that value is:
- An Iowa appraiser would use the cost approach as the primary valuation method for:
- An Iowa appraisal report using the URAR (Uniform Residential Appraisal Report) Form 1004 is used for:
- Iowa's Homestead Property Tax Credit reduces the tax burden by providing a credit based on:
- Iowa's Agricultural Land Tax Exemption (productivity assessment) for farmland means:
- Reconciliation in an Iowa appraisal report is the process in which the appraiser:
- Iowa's annual farmland value surveys conducted by Iowa State University Extension track:
- Iowa's mass appraisal system used by county assessors differs from a fee appraisal in that:
- Iowa's Elderly and Disabled Tax Credit allows qualifying Iowa residents to:
- The before-and-after method in Iowa eminent domain appraisals is used to:
- Iowa's rollback percentage reduces the taxable value of property compared to assessed market value. This rollback benefits Iowa property owners by:
- An Iowa commercial property appraiser analyzing a strip mall would most likely use which appraisal approach as the primary method?
- Iowa's appraisal review process ensures that:
- Iowa's Bureau of Labor Statistics and USDA data are useful in farmland appraisal for:
- The principle of contribution in Iowa appraisal states that:
- Iowa's property tax appeal to the Property Assessment Appeal Board (PAAB) is appropriate when:
- Iowa's appraisal of a historic property in an Iowa historic district may require consideration of:
- Iowa's mass appraisal equity studies measure which aspect of the assessment system?
- Iowa's agricultural cash rent for farmland is an important indicator because it reflects:
- Iowa's appraisal standards for licensed appraisers are overseen by which Iowa regulatory body?
- Iowa's assessed value for multi-family residential property (5+ units) is typically determined by:
- Iowa's 'effective gross income multiplier' (EGIM) in income property analysis is calculated as:
Agency
117 questions- Iowa's agency disclosure law requires the licensee to provide a written agency disclosure form to the consumer:
- In Iowa, which of the following BEST describes a buyer's agent?
- An agent discloses to the buyer that the seller is going through a divorce and must sell quickly. This is a violation of which fiduciary duty?
- Under Iowa law, an agent may act as a dual agent representing both the buyer and seller if:
- An agent's duty to disclose material facts applies to:
- When a seller's agent presents an offer to the seller, the agent's duty of loyalty requires them to:
- In Iowa, a transaction broker:
- The fiduciary duty of 'obedience' requires a licensee to:
- When does an agency relationship most commonly terminate in Iowa?
- A seller's agent who learns that the buyer cannot qualify for a larger mortgage should:
- Which of the following is an example of an express agency relationship?
- An agent who takes advantage of a client's inexperience to negotiate a personal benefit in a transaction violates which duty?
- In Iowa, when a listing broker's salesperson represents the buyer, this situation may be handled as:
- The duty of 'accounting' in an agency relationship requires the agent to:
- A buyer's agent in Iowa who discovers a material defect in the property during a showing must:
- Under Iowa law, which of the following is a disclosed dual agency situation?
- Designated agency in Iowa means:
- A seller's agent accidentally learns that the buyer is willing to pay significantly more than the offered price. What should the agent do?
- Which of the following is an example of implied agency?
- An agent who represents a buyer discovers the property has a cracked foundation that is not visible. The agent's duty to disclose this defect to the buyer is:
- In an open listing, the seller agrees to pay a commission to:
- An exclusive right-to-sell listing guarantees the listing broker a commission if the property sells during the listing period:
- In Iowa, a buyer who has not signed a buyer agency agreement is BEST described as a:
- In Iowa, which of the following BEST describes the agent's duty of reasonable care?
- An Iowa buyer's agent who helps the buyer draft an offer is performing which type of service?
- In Iowa, a seller who discovers their listing agent failed to disclose a material defect to a buyer may:
- In Iowa, a seller's agent must present all offers to the seller UNLESS:
- An agent for a buyer who wants to purchase a property well below market value is ethically required to:
- Iowa law requires that the agency disclosure form used at first substantive contact must be:
- Iowa requires that real estate licensees present all written offers to the seller promptly. 'Promptly' is BEST defined as:
- An Iowa buyer's agent who fails to present an offer that was not in writing to the seller:
- In Iowa, which document must be provided to a buyer at first substantive contact with a buyer's agent?
- A real estate agent who represents both the buyer and seller in the same transaction in Iowa is called a:
- Under Iowa agency law, a seller's agent owes which duty to the buyer?
- Which type of agency agreement gives the broker the exclusive right to sell the property and earn a commission regardless of who procures the buyer?
- In Iowa, a buyer's agency agreement is:
- Which fiduciary duty requires an Iowa agent to tell the client about all offers received on a property?
- An Iowa salesperson shows a buyer homes listed by other brokerages without a written buyer agency agreement. What agency relationship likely exists?
- Under Iowa law, which of the following would terminate a listing agreement?
- In Iowa, an agent who fails to disclose a known material defect in a property may be found liable for:
- What is a designated agency in Iowa?
- A seller instructs their Iowa listing agent to tell buyers there are no foundation problems, even though the agent knows there are cracks. The agent should:
- In Iowa, a transaction broker (non-agent facilitator) owes duties to clients that include:
- A seller tells their Iowa agent that the basement floods every spring. The agent must:
- Which document in Iowa formally creates the buyer agency relationship between a buyer and a brokerage?
- In Iowa, which party pays the real estate commission in most residential transactions?
- An Iowa agent who represents a buyer and is being paid a commission by the listing broker is:
- Iowa's seller disclosure law requires a seller to complete which document before listing a residential property?
- Under Iowa agency law, the duty of 'obedience' requires an agent to:
- Which of the following would NOT terminate an Iowa listing agreement?
- In Iowa, a seller's agent who represents the seller receives an offer from an unrepresented buyer. The agent owes the buyer:
- An Iowa listing agent who knows the property has a leaking roof but does not disclose it to a buyer because the seller asked them not to is committing:
- In Iowa, when a seller's agent shows the buyer a home and the buyer asks the agent what the seller will accept, the agent should:
- A buyer's agent in Iowa has a fiduciary duty of loyalty to their buyer client, which means:
- Under Iowa law, a subagent who assists a buyer may owe fiduciary duties to:
- Iowa law requires that a dual agency disclosure be:
- An Iowa real estate agent who has a personal financial interest in a property they are selling to a client must:
- An Iowa seller hires a listing agent, but the agent also shows the property to their own buyer client. This creates a potential:
- In Iowa, can a broker pay a referral fee to an unlicensed individual who refers a client?
- The Iowa seller's disclosure form must be provided to the buyer:
- An Iowa buyer's agent who discovers that the seller has an unresolved zoning violation on the property should:
- Under Iowa agency principles, 'ratification' means:
- Iowa law requires the agency disclosure be provided to consumers at first substantive contact. 'Substantive contact' typically means:
- An Iowa seller's agent who negotiates on behalf of the seller while an unrepresented buyer negotiates alone owes which duty to the buyer?
- In Iowa, a buyer's agent who learns the buyer's maximum budget should:
- In Iowa, when a seller's agent is contacted by a buyer asking for information about the seller's asking price flexibility, the agent should:
- An Iowa buyer's agent owes all of the following FIDUCIARY duties EXCEPT:
- In Iowa, which type of agency relationship is created when an agent acts on behalf of a client without explicit authorization but under circumstances that reasonably imply authority?
- An Iowa agent who discloses a buyer's motivation (that the buyer must buy quickly due to a job transfer) to the seller's agent is:
- Under Iowa law, when must a real estate agent present an offer to the seller?
- In Iowa, a property manager who represents the owner in leasing negotiations has which type of agency relationship with the tenant?
- An Iowa seller tells their agent they are willing to accept $270,000 but listed at $285,000. The agent may:
- Iowa's agency disclosure form must be provided to:
- An Iowa broker learns of a material fact about a property during the listing appointment. The broker's duty to disclose this to a buyer applies:
- When an Iowa salesperson leaves their employing broker without giving notice, the employing broker may:
- In Iowa, if a buyer's offer is rejected by the seller, the seller's agent must:
- In Iowa, an agent must act with 'reasonable care and diligence.' This means the agent should:
- An Iowa agent who represents a buyer discovers the buyer plans to use the property for an illegal purpose. The agent should:
- Iowa requires real estate agents to maintain accurate records of all transactions for at least:
- Under Iowa law, which of the following is NOT a material fact that must be disclosed?
- In Iowa, a buyer's agent owes which of the following duties to their buyer-client?
- Iowa's agency disclosure requirements mandate that a licensee provide the agency disclosure form to a consumer:
- Dual agency in Iowa occurs when:
- A 'designated agency' arrangement in Iowa means:
- Under Iowa agency law, a licensee acting as a transaction broker (non-agent) owes the consumer:
- An Iowa seller who signs a listing agreement with a broker has created which type of agency relationship?
- Iowa's duty of confidentiality in an agency relationship prohibits a buyer's agent from disclosing to the seller:
- An Iowa licensee who represents a seller but deals honestly and fairly with an unrepresented buyer is acting as:
- Which of the following would terminate a listing agency agreement in Iowa?
- Iowa Code Chapter 543B requires that a buyer representation agreement be:
- Iowa law requires that a listing agreement include which of the following provisions?
- Under Iowa law, a seller's agent who discovers a material defect not disclosed by the seller has a duty to:
- In Iowa, a subagency relationship arises when:
- In Iowa, an implied agency relationship with a buyer can be created when:
- Under Iowa agency disclosure requirements, a real estate licensee must disclose their agency status to all parties:
- Iowa law requires agency disclosure when a licensee provides real estate services to a consumer in which relationship?
- An Iowa buyer's agent who represents a buyer purchasing the agent's personally owned property must:
- Iowa's agency law requires that an agent act with 'reasonable care and diligence,' which means the agent should:
- Iowa law allows a buyer's agent to show the buyer properties listed with their own brokerage firm provided:
- In Iowa, which party does the cooperating broker represent when accepting a blanket offer of subagency through the MLS?
- Iowa's buyer's agency agreement typically includes which type of compensation arrangement?
- An Iowa licensee who is representing a buyer asks the seller's agent 'What is the lowest price your seller will accept?' The seller's agent:
- Iowa's agency disclosure form must be provided to all consumers. Who has the responsibility to provide this disclosure?
- Iowa allows a seller to instruct their listing agent in writing not to present offers below a specified price. This instruction:
- Iowa's NAR Code of Ethics, applicable to REALTORS® in Iowa, requires:
- Iowa's 'ministerial acts' that a licensee may perform for an unrepresented party without creating an agency relationship include:
- Iowa's duty of obedience in an agency relationship requires the agent to:
- Iowa's principal-agent relationship in real estate is characterized by all of the following EXCEPT:
- Iowa's buyer's agent must inform the buyer of which material fact if discovered during the agency?
- Iowa's listing agent who also finds the buyer for the listed property without disclosure creates:
- Iowa's exclusive right-to-sell listing agreement provides the listing broker with:
- Iowa's exclusive agency listing agreement differs from an exclusive right-to-sell because:
- Iowa's listing agent who sells a property more quickly than expected by disclosing the buyer's willingness to pay more than the offer price has:
- Iowa's unilateral offer of subagency through the MLS means:
- Iowa's agency representation agreement with a buyer may be terminated by:
- Iowa's buyer representation agreement specifies the territory or property types for which the buyer's agent is authorized. This means:
- Iowa's broker who supervises a salesperson is held responsible for the salesperson's actions performed:
Escrow & Title
112 questions- In Iowa, the instrument most commonly used to transfer title of real property is a:
- Which of the following BEST describes the chain of title?
- An abstract of title is BEST described as:
- Iowa is notable for its use of abstracts of title. After a real estate transaction in Iowa, a buyer typically receives:
- In Iowa, title insurance protects against:
- An owner's title insurance policy in Iowa protects:
- A lis pendens recorded against a property gives notice that:
- When a deed is recorded in Iowa, it provides:
- A quitclaim deed in Iowa transfers:
- An attorney's opinion of title in Iowa is:
- A mechanic's lien in Iowa may be filed by:
- In Iowa, recording a deed in the county recorder's office is important because it:
- In Iowa, the closing agent's role includes all of the following EXCEPT:
- The doctrine of 'priority of liens' in Iowa means that generally:
- In Iowa, when is a deed considered 'delivered' for purposes of transfer of ownership?
- Which of the following BEST describes a general lien?
- Subordination agreements in Iowa allow:
- In Iowa, what is the role of the county recorder's office in real estate?
- In Iowa, which of the following creates a specific lien against a property?
- The ALTA (American Land Title Association) extended coverage title insurance policy differs from a standard policy in that it:
- In Iowa, the party who traditionally pays for the abstract continuation and attorney's title opinion is:
- A deed of trust in Iowa involves how many parties?
- An Iowa property owner who loses their property through foreclosure and later claims they still have an ownership interest in the property would have their claim barred by:
- In Iowa, the person who prepares the deed for a real estate transaction is typically:
- A 'cloud on title' in Iowa refers to:
- Iowa's Torrens System of title registration differs from the abstract system in that:
- In Iowa, property taxes become a lien on real property:
- Iowa is known for using which document to establish a chain of title rather than title insurance?
- In Iowa, after reviewing an abstract of title, an attorney issues a document to confirm marketable title. This is called a(n):
- What is an abstract of title in Iowa real estate?
- Which type of title insurance policy in Iowa protects the lender's security interest?
- In Iowa, who typically holds earnest money in escrow during a pending real estate transaction?
- A cloud on title in Iowa refers to:
- In Iowa, the closing or settlement statement used in most residential transactions is the:
- What Iowa legal action is used to clear a defect or cloud on title?
- Which lien generally has the highest priority in Iowa in the event of a foreclosure?
- In Iowa, recording a deed with the county recorder establishes:
- In Iowa, what is the purpose of a title search?
- Which party in an Iowa real estate transaction typically selects the title or closing company?
- A buyer in Iowa pays $1,200 to a title company to obtain an owner's title insurance policy. If a title defect surfaces five years later, the policy:
- Under Iowa law, which instrument is used to transfer title to real property from seller to buyer?
- In Iowa, a lis pendens is:
- In Iowa, property taxes are paid in arrears, meaning:
- An Iowa seller has lived in the home for 10 years and wants to sell. At closing, the abstract should be updated to reflect:
- In Iowa, a deed must be signed by whom to be legally valid?
- What is the purpose of a satisfaction of mortgage (mortgage release) in Iowa?
- In Iowa real estate closings, which party is typically responsible for paying documentary stamps (transfer taxes)?
- An Iowa closing is called a 'dry closing' when:
- In Iowa, the county recorder's office records real estate documents. The primary purpose of recording is to:
- An Iowa abstract shows a gap in the chain of title from 1952 to 1965 with no recorded deed. This is called a:
- Under Iowa law, which instrument releases the seller's mortgage lien at closing?
- In Iowa, the document that provides the legal description of the property and is used to transfer title at closing is the:
- In Iowa, what is the effect of an unrecorded deed on a subsequent bona fide purchaser who records first?
- An Iowa escrow agent who receives conflicting instructions from buyer and seller regarding the disposition of earnest money should:
- In Iowa, the abstract of title is typically prepared by:
- In an Iowa title insurance transaction, when is a title insurance policy issued?
- Under RESPA, which of the following is a prohibited referral arrangement in Iowa real estate?
- An Iowa title company issues a title commitment prior to closing. This commitment represents the title company's agreement to:
- In Iowa, who is legally required to acknowledge (notarize) a deed for it to be recorded?
- An Iowa property has an easement for a gas pipeline crossing the property. This easement is likely held by the utility as a(n):
- When buying Iowa real estate, the buyer's title insurance protects against losses from:
- An Iowa property was purchased with a land contract in 1985. The buyer paid in full in 2000 but the seller never delivered a deed. The buyer's remedy is to:
- Iowa's race-notice recording statute means that to be protected against prior unrecorded interests, a subsequent purchaser must:
- In Iowa, a 'wet settlement' occurs when:
- Under Iowa law, what is the legal term for the party who conveys title in a deed?
- An Iowa property has a first mortgage, a home equity loan, and a judgment lien. In what order are these claims typically paid at a sale?
- A mechanic's lien in Iowa relates to:
- Under Iowa law, a mechanic's lien must be filed within how many days after the last work is performed or materials are furnished?
- In Iowa, which of the following would be shown as an exception in a title insurance policy?
- An Iowa property goes through foreclosure. After the sheriff's sale, a former owner may redeem the property within the statutory redemption period by:
- A title search in Iowa would reveal which of the following?
- In Iowa, an encumbrance that affects the title to real property would include all of the following EXCEPT:
- In Iowa, which type of deed contains no warranties but conveys whatever interest the grantor has?
- An Iowa property closing has a prorated credit for property taxes. The closing is June 30. Annual taxes are $4,800. How much does the seller owe the buyer (use 360-day year)?
- In Iowa, which governmental subdivision is responsible for maintaining public records of property ownership through deeds and instruments?
- In Iowa, the abstract of title is updated (continued) whenever:
- An Iowa property is encumbered by a restrictive covenant prohibiting commercial uses. The covenant was created in 1952. Under Iowa's Marketable Title Act, this covenant:
- Which Iowa document must be signed by the seller to transfer title to a buyer?
- Iowa traditionally relies on which method to provide buyers with evidence of marketable title?
- An abstract of title in Iowa is defined as:
- An attorney's opinion of title in Iowa concludes that:
- Title insurance in Iowa protects against:
- In Iowa, a general warranty deed provides the grantee with which covenants?
- A special warranty deed in Iowa differs from a general warranty deed because the grantor warrants title only against:
- Iowa's recording system (race-notice statute) protects a subsequent purchaser who:
- Escrow in an Iowa real estate closing refers to:
- A quitclaim deed in Iowa conveys:
- Iowa Title Guaranty (ITG) is a state-administered program that:
- An Iowa RESPA disclosure (Closing Disclosure) must be provided to the borrower by the lender at least how many business days before closing?
- Iowa's Marketable Title Act (Iowa Code Chapter 614) assists in clearing title by:
- A lis pendens recorded against an Iowa property provides notice that:
- The Iowa county recorder's office is responsible for:
- In an Iowa real estate closing, prorations are used to:
- In Iowa, the grantor in a warranty deed must have which of the following for the deed to be valid?
- Iowa's chain of title refers to:
- A subordination agreement in Iowa real estate allows:
- Iowa's lien priority rules establish that, in general, liens are paid in which order if a property is sold through foreclosure?
- A deed must be delivered and accepted in Iowa for the conveyance to take effect. 'Delivery' means:
- An encumbrance on Iowa real property is best described as:
- Iowa's transfer tax (documentary stamps) on real estate is calculated based on:
- An Iowa title commitment (preliminary report) is issued by a title company or Iowa Title Guaranty to:
- Iowa's seller net sheet is a document that:
- A judgment lien in Iowa attaches to real property when:
- Iowa's Real Estate Transfer Declaration (RETR) filed with the county auditor at the time of recording a deed serves what purpose?
- Iowa's federal tax lien, once filed by the IRS with the county recorder, has priority over:
- Iowa's 'gap' in title refers to:
- Iowa's survey exception in a title policy refers to:
- Iowa's FIRPTA withholding requirement applies when:
- Iowa Title Guaranty (ITG) coverage at closing means the buyer and lender receive:
- An Iowa boundary dispute between neighboring landowners is typically resolved through:
- Iowa's attorney opinion of title letter provides the recipient with:
- Iowa's continuation (update) of an abstract is necessary when:
Fair Housing
108 questions- A real estate agent who discourages a buyer from purchasing a home in a particular neighborhood by citing the religious composition of the neighborhood is engaging in:
- The Fair Housing Act prohibits discriminatory advertising. Which of the following is a permissible advertisement?
- Iowa's Civil Rights Act adds which additional protected classes for housing beyond the federal Fair Housing Act?
- Under the Fair Housing Act, a reasonable accommodation for a person with a mental disability might include:
- The Iowa Civil Rights Commission enforces Iowa's fair housing laws. To file a complaint in Iowa, the complaint must generally be filed within:
- Blockbusting is defined as:
- The Fair Housing Act exempts which of the following from its prohibitions on discrimination in residential housing sales?
- Which of the following housing situations is covered by the familial status protection under the Fair Housing Act?
- Under the Fair Housing Act, a request for a reasonable modification by a person with a disability:
- Under the Fair Housing Act, which of the following actions by a lender is ILLEGAL?
- The Americans with Disabilities Act (ADA) as it applies to commercial real estate requires:
- A real estate agent who refuses to show a Hispanic buyer homes in certain neighborhoods based on their ethnicity is violating the Fair Housing Act prohibition against:
- Iowa's fair housing protections apply to which types of transactions?
- A landlord who refuses to rent to a family because they have a child with a disability is violating which protected class(es)?
- A seller instructs their listing agent to only accept offers from buyers of a specific religion. The listing agent should:
- In Iowa, the protected class of 'source of income' under fair housing law means landlords:
- A property manager tells a prospect that an apartment is no longer available when it actually is, because the prospect appears to be of a different national origin. This violates the Fair Housing Act through which discriminatory practice?
- The Fair Housing Act's prohibition on advertising based on protected classes means that an ad may not:
- Under Iowa's Civil Rights Act, the maximum penalty for housing discrimination may include:
- In Iowa, sexual harassment by a landlord toward a tenant is a form of:
- Which of the following housing types is EXEMPT from the federal Fair Housing Act's prohibition on familial status discrimination?
- An Iowa landlord who charges a higher security deposit to tenants with disabilities than to tenants without disabilities is:
- Under the Fair Housing Act, which of the following must be provided in common areas of multifamily housing built for first occupancy after March 13, 1991?
- A real estate agent who discourages buyers of certain nationalities from purchasing in a neighborhood by providing negative information about local schools is engaging in:
- Iowa's Civil Rights Act prohibits discrimination in which of the following based on sexual orientation?
- Which of the following fair housing violations involves a lender?
- The Iowa Civil Rights Act prohibits discrimination in housing based on all of the following EXCEPT:
- Under Iowa fair housing law, 'source of income' as a protected class means a landlord cannot refuse to rent to an applicant because:
- A Des Moines landlord refuses to rent to a family with children unless they sign a shorter lease. This is likely a violation of which protected class?
- Which federal agency primarily enforces the Fair Housing Act at the federal level?
- Steering in Iowa real estate refers to:
- An Iowa landlord charges a higher security deposit to a tenant with a physical disability. This is:
- Blockbusting in Iowa real estate is:
- Under the Fair Housing Act, which of the following is an example of a reasonable accommodation?
- Redlining, as it applies to Iowa mortgage lending, refers to:
- An Iowa real estate agent who only shows listings in predominantly white neighborhoods to white buyers is committing:
- The Iowa Civil Rights Commission (ICRC) handles fair housing complaints. What is the typical time limit for filing a complaint?
- A Des Moines landlord advertises 'ideal for young professionals only.' This ad is potentially problematic because it may discriminate against which protected class?
- Under the Fair Housing Act, which of the following is a permitted exemption?
- What is the Americans with Disabilities Act (ADA) requirement for newly constructed commercial properties?
- Under the Fair Housing Act, a reasonable modification to rental property is:
- Iowa's fair housing law covers which types of housing transactions?
- A person with a mental health disability in Iowa asks their landlord to waive a 'no visitor after 10 PM' rule as a reasonable accommodation. The landlord should:
- Which statement about the Iowa Fair Housing exemptions is CORRECT?
- An Iowa real estate agent uses different showing times and availability for buyers of different ethnic backgrounds. This is an example of:
- The Iowa Civil Rights Act added which protected class that is NOT in the federal Fair Housing Act?
- An Iowa landlord refuses to rent to a family because the adults are in a same-sex marriage. Under Iowa law, this may violate:
- Under the Fair Housing Act, which of the following types of housing is specifically designed and exempt from familial status requirements?
- Iowa's state fair housing agency is the:
- An Iowa real estate agent refuses to show a home in a Des Moines neighborhood to a buyer because of the buyer's religion. The seller was unaware. Who is potentially liable?
- A Des Moines property manager publishes rental ads exclusively in newspapers targeting one ethnic community. This may violate fair housing laws because:
- Under the Fair Housing Act, which of the following statements in a rental ad is ILLEGAL?
- An Iowa property manager applies a criminal background screening policy that disproportionately screens out one racial group. HUD guidance suggests this may constitute:
- The federal Fair Housing Act was enacted in which year?
- Iowa added 'gender identity' as a protected class in housing in which year?
- An Iowa property manager consistently requires higher income documentation from applicants of one national origin than from others. This is an example of:
- Under Iowa fair housing law, which statement is TRUE about renting to someone who receives disability income (SSI/SSDI)?
- A tenant who feels they were denied housing because of their race can file a fair housing complaint with:
- The federal Fair Housing Amendments Act of 1988 added which two protected classes to the original 1968 Act?
- An Iowa REALTOR® who participates in a discriminatory housing practice may face disciplinary action from:
- Under Iowa law, how long does a complainant have to file a housing discrimination complaint with the Iowa Civil Rights Commission?
- A landlord in Ames, Iowa has a rule that all adult occupants must be listed on the lease. A tenant's adult child moves in and the landlord begins eviction. If the adult child has a disability, this policy may:
- Which of the following types of housing is exempt from the federal Fair Housing Act's familial status protection?
- Iowa's Civil Rights Act covers which types of properties in fair housing matters?
- A Cedar Rapids property manager advertises 'No Section 8.' Under Iowa's Civil Rights Act, this advertising is:
- Under the Fair Housing Act, a disability includes all of the following EXCEPT:
- An Iowa landlord requires a higher security deposit from all tenants with disabilities. This is:
- Which federal fair housing act expanded protections to include disability and familial status?
- In Iowa, the protected class 'source of income' specifically includes which of the following as a protected source?
- An Iowa landlord's lease has a 'no pets' policy. A prospective tenant with a visual impairment uses a guide dog. The landlord must:
- An Iowa lender offers lower interest rates to male borrowers than female borrowers with identical qualifications. This violates:
- Under Iowa law, when a tenant with a disability requests to modify their rental unit (e.g., install grab bars), the landlord must:
- Which phrase in a rental advertisement is considered ACCEPTABLE under fair housing guidelines?
- Iowa's source of income protection means that a landlord cannot refuse to rent based on:
- Which Iowa fair housing violation involves a pattern or practice of discrimination rather than a single incident?
- Under federal fair housing law, which of the following is a protected class?
- A lender in Iowa charges higher interest rates to borrowers in certain ZIP codes regardless of creditworthiness. This may constitute:
- An Iowa real estate agent shows a buyer only homes in certain price ranges based on an assumption about the buyer's race or national origin. This is:
- Iowa's Civil Rights Act protects 'creed' as a housing protected class. 'Creed' typically refers to:
- The federal Fair Housing Act prohibits discrimination in the sale or rental of housing based on which protected classes?
- Iowa's Civil Rights Act adds which protected class(es) beyond the federal Fair Housing Act?
- Steering in real estate refers to the illegal practice of:
- Blockbusting under the Fair Housing Act is:
- Redlining, as prohibited by the Fair Housing Act and ECOA, refers to:
- Under the Fair Housing Act, a landlord's refusal to make reasonable accommodations for a tenant with a disability is:
- An Iowa property owner who occupies one unit of a 4-unit building and rents out the other 3 units must comply with the:
- A tenant in Iowa who believes they have been discriminated against in housing may file a complaint with:
- Under the Fair Housing Act, advertising that indicates a preference for renters of a particular religion would be:
- Familial status as a protected class under the Fair Housing Act protects:
- An Iowa landlord who refuses to rent to a person because they use a wheelchair is in violation of the Fair Housing Act's prohibition on discrimination based on:
- Under the Fair Housing Act, a landlord is required to allow a tenant with a disability to make reasonable modifications to the rental unit:
- An Iowa real estate licensee who shows homes only in certain neighborhoods based on a buyer's race is guilty of:
- The Americans with Disabilities Act (ADA) applies to Iowa real estate most directly in the context of:
- Iowa's fair housing laws include protections for individuals with a history of mental illness. An Iowa landlord who refuses to rent to such a person based solely on their mental health history is:
- An Iowa landlord who adds a no-pets policy to a lease but is asked by a tenant with a disability to allow a service animal or emotional support animal must:
- Iowa Fair Housing complaints must be filed with HUD within how many days of the alleged discriminatory act?
- An Iowa real estate agent who uses coded language in advertising — such as 'ideal for young professionals' or 'perfect for couples without children' — may be engaging in:
- Iowa's fair housing law requires that persons with disabilities be permitted to have assistance animals in housing. This requirement applies to:
- Iowa's Civil Rights Commission can award which remedies in a fair housing case?
- The Fair Housing Act exemption for senior housing (55+ communities) requires that:
- Iowa's fair housing protections extend to which stages of a housing transaction?
- Iowa's disability fair housing protections require that newly constructed multifamily buildings of 4 or more units built after March 13, 1991 comply with:
- Iowa landlords may ask a prospective tenant with a disability for documentation of their disability-related need for an accommodation or modification when:
- An Iowa housing provider who charges a higher security deposit to a family with children than to a single adult:
- Iowa's fair housing law provides that a person aggrieved by housing discrimination may file a complaint with the Iowa Civil Rights Commission within:
- Iowa's source of income protection in some Iowa cities' local ordinances prohibits housing providers from:
- Iowa's accessibility requirements for newly constructed multifamily housing apply to buildings with:
- Iowa's fair housing testing programs use:
Property Management
91 questions- In Iowa, a property manager who collects rent and security deposits on behalf of owners must:
- Under Iowa's Uniform Residential Landlord and Tenant Act (URLTA), a landlord must maintain rental property in a condition that:
- In Iowa, the maximum security deposit a landlord may collect for an unfurnished residential unit is:
- Under Iowa's URLTA, how many days does a landlord have to return a tenant's security deposit after the tenant vacates?
- A property manager's primary duty is to:
- In Iowa, a month-to-month tenancy can be terminated by either party by providing:
- A property management agreement in Iowa is a contract between:
- Iowa's URLTA requires landlords to give tenants advance written notice before entering an occupied rental unit. The required notice period is typically:
- In Iowa, a landlord who wrongfully withholds a tenant's security deposit without providing an itemized statement of deductions may be liable to the tenant for:
- A gross lease requires the tenant to pay:
- Under Iowa's URLTA, if a landlord fails to make essential repairs within a reasonable time after receiving written notice from the tenant, the tenant may:
- In Iowa, self-help eviction (a landlord physically removing a tenant without going through court proceedings) is:
- A net lease in commercial real estate typically requires the tenant to pay:
- Vacancy rate for a rental property is calculated as:
- A percentage lease in commercial real estate typically requires the tenant to pay:
- In Iowa, the notice required to terminate a week-to-week tenancy is:
- In Iowa, the Uniform Residential Landlord and Tenant Act (URLTA) does NOT apply to:
- A lease that automatically renews for the same term at the end of each period unless either party provides advance notice of termination is called a:
- An Iowa landlord wants to raise the rent on a month-to-month tenant. The landlord must:
- In Iowa, a tenant who is a victim of domestic violence may have special lease termination rights under:
- The concept of 'constructive eviction' in Iowa occurs when:
- Under the Iowa Uniform Residential Landlord and Tenant Act, how much notice must a landlord give before entering a tenant's dwelling unit for non-emergency repairs?
- An Iowa landlord fails to make a required repair within a reasonable time after written notice from the tenant. Under Iowa law, the tenant may:
- What is the maximum security deposit a residential landlord in Iowa may collect from a tenant?
- An Iowa landlord must return a tenant's security deposit within how many days after the tenancy ends?
- In Iowa, a 'month-to-month' tenancy can be terminated by either party by giving written notice of at least:
- An Iowa property manager who collects rent, pays expenses, and manages a residential property for an owner is performing activities that typically require a:
- An Iowa tenant subleases their apartment without landlord consent. Under a standard lease with a no-sublease clause, the landlord may:
- In Iowa, an eviction (forcible entry and detainer) proceeding begins when the landlord:
- Under Iowa law, a tenant in an Iowa City apartment has the right to a habitable dwelling, which means the landlord must maintain:
- An Iowa commercial tenant's lease provides for a fixed base rent plus a percentage of the tenant's gross sales above a specified amount. This is called a:
- Under an Iowa triple net (NNN) lease, the tenant is responsible for:
- An Iowa property manager uses trust account funds to pay a personal bill. This violates which legal principle?
- An Iowa landlord wants to raise the rent of a month-to-month tenant. The landlord must give at least how much notice?
- Which Iowa lease type automatically renews unless notice of termination is given?
- Under Iowa law, what must a landlord do before deducting from a tenant's security deposit for damages?
- In Iowa, a landlord who wrongfully withholds a security deposit may be liable to the tenant for:
- An Iowa property manager earns a management fee of 8% of gross monthly rents. If the property generates $9,500 in gross monthly rent, what is the monthly management fee?
- What is the primary difference between a gross lease and a net lease in Iowa commercial real estate?
- An Iowa commercial property manager who wants to lease space to a new tenant should:
- An Iowa rental property owner hires a property manager to lease and manage apartments. This creates what type of legal relationship?
- An Iowa commercial lease requires the tenant to pay 'CAM charges.' CAM stands for:
- Iowa's Residential Landlord and Tenant Act applies to which properties?
- An Iowa landlord collects $2,400 rent per month on a residential duplex. The management fee is 9%. What is the monthly management fee?
- Which of the following is an Iowa landlord's responsibility regarding habitability under the Uniform Residential Landlord and Tenant Act?
- An Iowa property manager is asked to negotiate a new lease renewal for a commercial tenant. The property manager should:
- An Iowa tenant deposits $1,200 as a security deposit. The landlord can apply the deposit to:
- An Iowa apartment tenant installs a ceiling fan without landlord permission. The ceiling fan is attached permanently to the ceiling. At end of tenancy, the ceiling fan is most likely:
- Under Iowa landlord-tenant law, 'normal wear and tear' refers to:
- A Des Moines property manager wants to screen rental applicants. Which of the following is an acceptable screening criterion?
- An Iowa property manager who manages residential rental property for others for compensation must hold:
- Iowa's Uniform Residential Landlord and Tenant Act (URLTA) governs:
- Under Iowa's URLTA, the maximum security deposit a landlord may collect from a residential tenant is:
- Iowa law requires a landlord to return a residential security deposit within how many days after the tenant vacates?
- Iowa's implied warranty of habitability in residential rentals requires landlords to:
- A gross lease in commercial property management means:
- A net lease requires the tenant to pay:
- In Iowa, the eviction process for a tenant who fails to pay rent begins with:
- Self-help eviction (changing locks, removing tenant's belongings) by an Iowa landlord is:
- A property manager's fiduciary duty to the owner includes which of the following?
- Iowa Code Chapter 562A requires landlords to give tenants at least how much notice to terminate a month-to-month tenancy?
- Iowa's URLTA requires landlords to maintain rental premises in a condition that complies with:
- A tenant in Iowa who is constructively evicted (landlord fails to maintain habitable conditions) may:
- A percentage lease is commonly found in Iowa retail commercial properties and requires the tenant to pay:
- Iowa commercial property operating expenses typically included in a triple net (NNN) lease paid by the tenant include:
- An Iowa commercial property manager who enters into a management agreement is typically authorized to:
- Iowa's URLTA allows a tenant to terminate a lease early without penalty if the tenant:
- Under Iowa's residential landlord-tenant law, a landlord who retaliates against a tenant for reporting code violations may:
- A resident manager who lives on-site and manages a building in Iowa and receives free rent as their only compensation is:
- Iowa's CAM (Common Area Maintenance) charges in commercial leases represent:
- An Iowa property management agreement should specify at minimum:
- Iowa's tenant protection against retaliatory rent increases requires that a rent increase within what period after a tenant exercises a legal right creates a presumption of retaliation?
- A net operating income (NOI) in property management is calculated as:
- In Iowa commercial property management, a lease renewal option gives the tenant the right to:
- Iowa's Section 8 Housing Choice Voucher program in residential property management involves:
- Iowa property management licensing requirements exist because property managers who:
- Iowa tenants are entitled to quiet enjoyment of their rental unit, which means:
- Iowa's URLTA requires landlords to give tenants at least how much written notice before entering a rental unit for non-emergency maintenance?
- An Iowa month-to-month tenancy is created when:
- An Iowa landlord may deduct from a tenant's security deposit for which of the following?
- A fixed-term residential lease in Iowa that expires without renewal converts to:
- Iowa's residential landlord may enter a rental unit in an emergency without advance notice for:
- Iowa's tenant's right to repair and deduct (for essential services) applies when:
- Iowa's Iowa Tenant Screening Practices Act (or Iowa tenant selection guidelines) permits landlords to consider which factors in tenant selection?
- Iowa's commercial lease estoppel certificate is a document in which:
- Iowa's CAP rate for a property management client's investment should be interpreted as:
- Iowa's Iowa Court Information System (ICIS) is used by property managers in tenant screening to:
- Iowa's Iowa Landlord-Tenant Act permits a landlord to include a 'no-smoking' policy in a residential lease. If a tenant violates this policy:
- Iowa's commercial property annual operating budget prepared by a property manager typically includes projections for:
- Iowa's operating expense ratio (OER) for a commercial property is calculated as:
- Iowa's tenant improvement allowance (TIA) in commercial leasing is:
Land Use & Zoning
89 questions- A nonconforming use in Iowa is BEST described as:
- A property owner in Iowa applies for a zoning variance. A variance is granted when:
- A conditional use permit (or special use permit) in Iowa allows:
- A setback requirement in a zoning ordinance specifies:
- Eminent domain allows government to take private property for public use provided:
- In Iowa, the comprehensive plan (master plan) of a municipality serves as:
- An Iowa municipality that wants to acquire private land for a public park through condemnation must use which governmental power?
- In Iowa, a subdivision is generally defined as:
- The police power of government that allows Iowa municipalities to regulate land use is derived from:
- Spot zoning in Iowa refers to:
- A 'buffer zone' in land use planning refers to:
- Iowa's agricultural land use zoning protections are intended to:
- A planned unit development (PUD) differs from standard zoning in that:
- In Iowa, which government entity is primarily responsible for adopting zoning ordinances?
- An Iowa city council that rezones an area from residential to commercial use after receiving a developer's request is exercising:
- An 'overlay zone' in Iowa land use regulation:
- In Iowa, the Board of Adjustment (or Zoning Board of Appeals) has authority to:
- Iowa's '100-year floodplain' designation means:
- Under Iowa law, a property owner who believes their property's zoning is unconstitutional may challenge the zoning through:
- In Iowa, zoning authority is primarily granted to cities and counties by:
- A property owner builds a home on agricultural land in an Iowa county without a zoning permit. The county issues a cease-and-desist order. This is an example of enforcing:
- A nonconforming use in Iowa zoning law refers to:
- A property owner in Iowa seeks permission to use their R-1 residentially zoned property as a day care center. They would apply for a:
- What is the primary difference between a zoning variance and a rezoning in Iowa?
- In Iowa, subdivision regulations typically require a developer to submit which document showing lot layout and streets to local government for approval?
- Iowa's agricultural land preservation efforts primarily aim to:
- Which Iowa government entity typically reviews and approves county zoning changes?
- In Iowa, what is a buffer zone in zoning?
- Eminent domain in Iowa allows government to:
- An Iowa city wishes to acquire private property for a new public park. The legal process for doing so against the owner's will is called:
- What Iowa body typically hears appeals from zoning decisions at the local level?
- An Iowa historic district designation affects property owners by:
- In Iowa, which legal concept allows a government to regulate private land without physically taking it, but still requires compensation if it goes too far?
- Iowa's comprehensive plan (or land use plan) serves as:
- An Iowa city adopts an ordinance requiring all new retail buildings to have at least 4 parking spaces per 1,000 sq ft. This is an example of which type of regulation?
- Which Iowa municipality adopted form-based zoning codes to guide development in parts of its downtown area?
- Iowa's urban renewal law (Iowa Code Chapter 403) authorizes cities to:
- In Iowa, a setback requirement refers to:
- What is tax increment financing (TIF) and how is it used in Iowa?
- In Iowa, a 'planned unit development' (PUD) differs from conventional zoning because it:
- Iowa's solar access laws and ordinances are designed to:
- Under Iowa law, which government entity has authority to regulate agricultural land use in unincorporated county areas?
- Iowa's Agricultural Land Preservation program is primarily intended to:
- Which Iowa city has used special zoning overlay districts to encourage mixed-use development along major corridors?
- An Iowa property owner wants to put a billboard on their agricultural land along a state highway. They would need to comply with:
- Which Iowa statute gives cities the authority to annex adjacent unincorporated territory?
- A developer in Cedar Rapids proposes a mixed-use development that requires rezoning from residential to commercial. The public process typically requires:
- An Iowa building permit is typically required before:
- Iowa Code Chapter 403 (Urban Renewal Act) authorizes cities to use tax increment financing (TIF). TIF works by:
- In Iowa, a 'conditional use permit' (also called a special use permit) allows:
- An Iowa property owner receives a citation for violating their local zoning ordinance's setback requirements. They may challenge this through:
- Iowa cities use 'overlay zones' to:
- Iowa's annexation process allows a city to expand into adjacent unincorporated territory. Adjacent property owners affected by annexation may:
- Iowa's floodplain regulations, coordinated with FEMA, require that structures in 100-year floodplains must:
- Iowa municipalities adopt comprehensive plans primarily to:
- A variance in Iowa zoning law is:
- A nonconforming use in Iowa is a land use that:
- Eminent domain in Iowa allows the government to:
- A special use permit (conditional use permit) in Iowa differs from a variance because it:
- Iowa's subdivision regulations require developers to:
- A buffer zone in Iowa land use planning is typically used to:
- Iowa's Urban Revitalization Act allows cities to:
- An Iowa agricultural conservation easement placed on farmland:
- Under Iowa law, a property owner whose land is rezoned to a less valuable use may seek compensation through a legal action known as:
- Iowa's Floodplain Management Program requires that new construction in Special Flood Hazard Areas (100-year floodplain):
- TIF (Tax Increment Financing) is an Iowa economic development tool that:
- Iowa's Extraterritorial Jurisdiction (ETJ) allows cities to:
- A plat of survey in Iowa serves which purpose in real estate transactions?
- Iowa's county zoning authority derives from:
- Iowa's agricultural land preservation efforts include which program that pays farmers to restrict development on productive farmland?
- Iowa's zoning ordinances typically divide land into use categories. Which category would be appropriate for a Des Moines auto dealership?
- An Iowa city's board of adjustment has the authority to:
- Iowa's Comprehensive Environmental Response, Compensation, and Liability Act (state Superfund law) mirrors federal CERCLA in:
- Iowa's Urban Renewal Act (Iowa Code Chapter 403) allows cities to use which tool to fund the remediation and redevelopment of blighted or economic development areas?
- Iowa's environmental review requirements for large development projects may include:
- An Iowa planned unit development (PUD) differs from standard zoning by:
- Iowa's agricultural exemption from subdivision regulations allows farmers to:
- Iowa's county zoning boards of adjustment handle which type of land use decision?
- Iowa's riparian rights for landowners along rivers and streams include:
- Iowa's Solar Access Easement (Iowa Code Chapter 564A) allows property owners to:
- Iowa's Workforce Housing Tax Credits program provides:
- Iowa's historic preservation tax credit program encourages rehabilitation of:
- Iowa's cluster development zoning technique allows developers to:
- Iowa's LUST (Leaking Underground Storage Tank) program administered by the IDNR:
- Iowa's Des Moines metro area growth management strategies include which tool to coordinate development across multiple jurisdictions?
- Iowa's agricultural exemption for property taxes applies to land that is:
- Iowa's Flood Mitigation Programs provide Iowa communities with funding to:
- Iowa's transit-oriented development (TOD) near Des Moines bus rapid transit and metro corridors is characterized by:
- Iowa's school impact fees are assessed by some Iowa school districts or municipalities to:
Environmental
87 questions- Iowa's Groundwater Hazard Statement is required to be completed by the seller when:
- Radon is a naturally occurring radioactive gas that poses a health risk when it accumulates indoors. What is the EPA's recommended action level for radon?
- Lead-based paint disclosure requirements under federal law apply to:
- An underground storage tank (UST) on a property may create environmental concerns because:
- Asbestos-containing materials in a building pose the greatest health risk when:
- CERCLA (the Comprehensive Environmental Response, Compensation, and Liability Act) is commonly known as:
- Iowa regulations require that abandoned wells on property being sold must be:
- A Phase I Environmental Site Assessment (ESA) is intended to:
- Iowa ranks among the states with the highest percentage of homes with elevated radon levels primarily because:
- In Iowa, sellers are required to complete the Groundwater Hazard Statement and disclose information about:
- Mold growth in residential properties in Iowa is most commonly caused by:
- When selling an older home in Iowa, which federal disclosure law is most likely triggered regarding the potential hazards of building materials?
- A buyer is purchasing property near an industrial site in Iowa. To investigate potential environmental contamination, they should first request a:
- The Iowa Department of Natural Resources (DNR) oversees the Leaking Underground Storage Tank (LUST) program, which is designed to:
- In Iowa, a seller who knowingly fails to disclose a known environmental hazard on the property may face:
- A property near an Iowa hog confinement facility may experience which environmental concern most relevant to a real estate transaction?
- Iowa's agricultural drainage tile systems are important in real estate because:
- Which of the following substances found in older Iowa homes is regulated under the Toxic Substances Control Act (TSCA)?
- Which Iowa state agency has primary responsibility for environmental oversight of underground storage tanks (USTs)?
- Under Iowa law, a seller of residential property must disclose the presence of which hazardous substance on the disclosure form?
- The Iowa Environmental Protection Act regulates which of the following?
- An Iowa property has an underground storage tank (UST) that previously leaked petroleum. Which federal law governs the cleanup liability?
- A buyer's inspector discovers vermiculite insulation in an Iowa home's attic. Why is this significant?
- Iowa has elevated levels of which naturally occurring radioactive gas that requires testing in residential properties?
- Under federal law, sellers of pre-1978 homes in Iowa must:
- A Des Moines property is near a former industrial site with soil contamination. This type of property is known as a:
- Iowa DNR requires owners of underground storage tanks to report a release of petroleum within how many hours of discovery?
- Which federal agency administers the National Flood Insurance Program (NFIP) relevant to Iowa flood-prone properties?
- Iowa's Groundwater Protection Act is designed to protect:
- An Iowa farmer discovers that a pesticide has contaminated soil on their property from a neighbor's runoff. Who has primary regulatory authority over pesticide contamination in Iowa?
- Section 404 of the federal Clean Water Act requires property owners to obtain a permit before:
- An Iowa property buyer discovers the property is in a FEMA-designated Special Flood Hazard Area (SFHA). This means:
- In Iowa, a property seller is required to disclose the presence of a private well on the seller's disclosure form because:
- Iowa landowners near rivers are responsible for complying with which federal act when considering development near wetlands?
- Which of the following best describes a Phase I Environmental Site Assessment (ESA)?
- Iowa's agricultural use of nitrogen fertilizers has contributed to which major water quality issue in the Gulf of Mexico?
- In Iowa, who is responsible for removing a decommissioned underground storage tank (UST) from an Iowa property?
- An Iowa home has been tested and found to have a radon level of 5.0 pCi/L. The EPA recommends mitigation when levels exceed:
- Iowa's Nutrient Reduction Strategy aims to reduce which nutrients that flow into waterways from agricultural fields?
- An Iowa property buyer discovers the property is located within a 100-year floodplain. The buyer's REALTOR® should advise them to:
- Under the Iowa Environmental Protection Act, which Iowa agency has authority to issue permits for large animal feeding operations (CAFOs)?
- An Iowa home inspector finds deteriorating pipe insulation that may be asbestos-containing material. The appropriate next step is to:
- Iowa's Solid Waste Comprehensive Planning Act requires counties to:
- In Iowa, before closing on a property that has or had a petroleum underground storage tank, buyers should request:
- The Iowa DNR's Comprehensive Environmental Response program addresses:
- Which of the following is a federally required seller disclosure for pre-1978 homes?
- An Iowa property's drinking water well tests positive for coliform bacteria. This is a:
- Iowa's Statewide Urban Design and Specifications (SUDAS) manual primarily governs:
- An Iowa property seller is aware of an old oil drum burial site on the back of their property. Under Iowa's seller disclosure law, the seller:
- Iowa's Phase I Environmental Site Assessment (ESA) reviews records for all of the following EXCEPT:
- Iowa law requires new large animal confinement operations to submit construction permit applications that include:
- Which Iowa environmental program helps property owners investigate and clean up petroleum-contaminated sites from leaking underground storage tanks?
- In Iowa, asbestos-containing materials in a commercial building being demolished must be handled by:
- The Iowa Department of Natural Resources (IDNR) regulates which environmental concern relevant to real estate transactions?
- Lead-based paint disclosure in Iowa is federally required for:
- Radon is a significant environmental concern in Iowa because:
- CERCLA (Superfund) imposes liability for environmental cleanup on:
- An Iowa farmstead with an abandoned fuel tank may require an environmental phase assessment before sale because:
- Asbestos in an Iowa commercial building built before 1980 is regulated under:
- The Iowa Comprehensive Petroleum Underground Storage Tank Fund (CPUST Fund) provides:
- Wetlands on Iowa agricultural properties are significant in real estate because:
- Mold disclosure in Iowa residential transactions is most directly addressed by:
- The presence of a hog confinement operation adjacent to an Iowa residential property is considered:
- Iowa's Groundwater Protection Act focuses on protecting:
- A brownfield in Iowa is defined as:
- The Phase I Environmental Site Assessment (ESA) in Iowa is designed to:
- Iowa's Right to Farm Act protects agricultural operations from:
- Carbon monoxide is a hazard in Iowa homes primarily associated with:
- Iowa's Private Well Act requires testing of private drinking water wells:
- Iowa's IDNR requires notification for:
- Polychlorinated biphenyls (PCBs) in Iowa commercial buildings are a concern because they were historically used in:
- Iowa's agricultural drainage tiles (drainage tile systems) on farm properties are important in real estate because:
- The EPA's Superfund (CERCLA) National Priorities List (NPL) includes several Iowa sites where:
- Iowa's clean water initiatives related to agricultural nutrients (nitrogen and phosphorus) are relevant to real estate because:
- Iowa's Source Water Protection Program protects:
- An Iowa property with an on-site septic system that fails percolation tests may:
- Iowa's animal feeding operation (AFO) regulations apply to real estate because:
- Iowa's Solid Waste Management Act regulates:
- Iowa's Energy District (PACE financing) program allows:
- Iowa's environmental covenants under CERCLA cleanup allow:
- Iowa's Voluntary Cleanup Program (VCP) administered by the IDNR provides:
- Polyfluoroalkyl substances (PFAS) have emerged as an environmental concern in Iowa real estate because:
- Iowa farmland with tile drainage systems that discharge to streams may be subject to:
- Iowa's Brownfields Revolving Loan Fund (RLF) program provides:
- Iowa's agricultural chemical dealer licensing and handling regulations are relevant to rural real estate because:
- Iowa's Department of Natural Resources (IDNR) Environmental Services Division provides which service relevant to real estate due diligence?
- Iowa's Ag Drainage Wells program addresses environmental concerns because drainage wells:
Ready to Practice?
Take a free Iowa practice quiz — no signup required.
Start Free Quiz →