Take a free Indiana Real Estate practice exam online: a full 25-question paper with every answer explained, no sign-up, scored by topic. The full 25-question bank and the timed simulator are $14.99 for 30 days.
Real Estate Broker License (IN): a 25-question practice bank for the real Professional Licensing (Real Estate & Insurance) standard, 3 full papers of 25 questions each with no repeats, every question written to the regulation it comes from.
Every question in this bank cites a source -- primarily I.C. (100%) of this exam's citations.
Correct answer: D. The managing broker designated by the company
Correct: Indiana Code 25-34.1-4-2 establishes that the designated managing broker is primarily responsible to the commission for the company's actions.
Correct answer: D. As soon as practicable
Correct: Indiana Code 25-34.1-10-11 requires brokers to present all offers as soon as practicable.
Correct answer: B. Partnerships, corporations, limited liability companies, or individuals meeting broker requirements
Correct: Indiana Code 25-34.1-4-2 permits partnerships, corporations, limited liability companies, and individuals to act as broker companies.
Correct answer: A. The application is void and the person must retake the exam
Correct: Indiana Code 25-34.1-3-4.1 voids the application if the fee is not submitted within one year; the exam must be retaken.
Correct answer: D. Three years
Correct: Indiana Code 25-34.1-3-4.1 specifies that broker licenses expire three years from the date of issuance.