Chapter 13: Definitions and Activities Requiring Licensure

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1. List 5 transactions that require a real estate license other than buying, Negotiating and agreeing to commissions
selling, leasing, and managing.
Showing real property

Creating promotional materials

Listing a property for sale

Discussing and explaining contracts

2. List 4 exceptions to transactions that require a real estate license. Actions of an attorney in the practice of law

Actions by the executor of a will

Rental of a lodging for less than 30 days

Sale of a cemetery lot

3. The term "real estate transaction" means the sale or lease of any legal interest in real estate
4. Why can a licensed auctioneer sell property at a public auction Because the auctioneer falls under the license exceptions
without a real estate license? for real estate transactions
5. Negotiating commission for the sale of property can only be done by a broker on probation
6. Which of the following does not fall under the exceptions to requiring Telemarketing to set appointments to seek listings
a real estate license?
7. Which of the following does not require a real estate broker's license Discussing with a potential buyer the features of a
in Indiana? particular property
8. Which of the following falls under the exceptions to requiring a real Selling at a public auction by a licensed auctioneer
estate license?
9. A limited agent is one who is a licensed broker who represents both the seller and
the buyer