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Indiana Broker Exam Prep
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Free Assessment
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Complete a Free Practice Assessment

In order to become an Indiana real estate agent, you'll need to pass the real estate exam! Below are eight free real estate practice exam questions that will closely resemble your Indiana licensing exam. Review these questions and see what you know! The answers are provided beneath the question set.

1. Josef is a salesperson. His buyer clients have just given him a check for earnest money. What should he do with it?

  1. Immediately deposit it into the brokerage account.

  2. Immediately deposit it into the brokerage trust account.

  3. Immediately pay all transactional expenses.

  4. Immediately turn it over to his qualifying broker.

2. Which of the following is a reason why the Real Estate Commission might impose a disciplinary penalty against you?

  1. You make false and dishonest promises to clients or customers.

  2. You renew your license a month late.

    1. You request that your broker reassign your listings while you take a leave of absence.

  4. You sign agency agreements after disclosing possible conflicts of interest.

3. Elite Realty needs a qualifying broker. Which of these people is qualified for this position?

  1. Dave, a salesperson who works full time

  2. Ellen, a broker who works part time

  3. Erica, a broker who works full time

  4. Jeremy, a broker who works full time from his home office

4. Gus, the qualifying broker at Harmony Realty, has sadly had a debilitating stroke and is unable to return to work. What happens next?

  1. All Harmony Realty licensees must turn their licenses in to the commission and wait to be reassigned.

  2. Harmony Realty’s president chooses a new qualifying broker from the remaining brokers.

  3. The company chooses a temporary qualifying broker, who must apply for and receive a license for this position.

  4. The most senior broker—i.e, the broker who’s been at Harmony the longest—becomes the new qualifying broker.

5. Carl has just received his salesperson real estate license. Which of the following must be true?

  1. He holds a bachelor’s degree in real estate.

  2. He is at least 19 years old.

  3. He is at least 21 years old.

  4. He is now qualified to supervise other licensees.

6. When applying for an broker license, under what circumstances can a salesperson continue to perform real estate activities?

  1. If the broker license will be issued to a new company

  2. If the broker license will be issued to the same company as the salesperson license

  3. If the new company for which the salesperson will work gives permission in writing

  4. If the qualifying broker agrees to wait until the new license is received to return the old one

7. How does the Alabama requirement for licensing protect the public?

  1. By establishing a nation-wide standard that all licensees must adhere to

  2. By requiring all licensees to obtain a broker’s license

  3. By requiring licensees to have certain education, training, and standards

  4. By requiring that real estate professionals have a degree in business

8. When it comes to contracts for sale or lease, which of the following statements is true?

  1. It’s illegal for real estate brokers to have a personal interest in contracts for sale or lease.

  2. It’s illegal for real estate brokers to negotiate the price on contracts for lease, but not for sale.

  3. It’s illegal for real estate brokers to receive a commission for contracts for sale or lease.

  4. It’s illegal for real estate licensees to interfere with contracts for sale or lease.

Answers: 1. D, 2. A, 3. C, 4. C, 5. B, 6. B, 7. C, 8. D

Questions?