Iowa Real Estate Practice Exam

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Study for the Iowa Real Estate Test. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

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Who administers real estate license law in Iowa?

Iowa Real Estate Association
Iowa Real Estate Commission
Iowa Department of Commerce
Federal Housing Authority

The correct answer is: Iowa Real Estate Commission

The Iowa Real Estate Commission is responsible for administering real estate license law in Iowa. This regulatory body oversees the licensing and conduct of real estate professionals within the state. Its primary functions include establishing and enforcing rules and regulations, ensuring compliance with statutory requirements, and providing guidance and education for licensees. The Commission also investigates complaints and enforces disciplinary actions when necessary, which helps maintain integrity and professionalism in the real estate industry. By having a specialized entity like the Iowa Real Estate Commission, the state ensures that real estate practices adhere to the laws designed to protect consumers and promote a fair marketplace. In contrast, the Iowa Real Estate Association primarily focuses on advocacy, education, and support for its members rather than the regulation of the profession. The Iowa Department of Commerce oversees a broader array of professional licensing and commerce-related matters but does not specifically administer real estate license law. The Federal Housing Authority, meanwhile, provides insurance for loans and does not play a role in state-level licensing or oversight of real estate professionals.