Iowa Real Estate Practice Exam

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Study for the Iowa Real Estate Exam. Utilize flashcards and multiple-choice questions, complete with hints and explanations for each query. Prepare effectively for your exam!

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What happens if a licensee does not respond to the commission's audit request within 60 days?

The license is automatically renewed
The license is suspended until resolved
The license is placed on inactive status
The license is revoked permanently

The correct answer is: The license is placed on inactive status

In the context of a commission's audit request, if a licensee fails to respond within the stipulated 60 days, the consequence directly tied to that specific scenario is the placement of the license on inactive status. This means that the individual is no longer permitted to engage in real estate activities until they address the audit request and bring their status back to active. It is important for licensees to be aware of the regulations surrounding their obligations in such situations. An inactive status serves as a temporary measure, allowing the licensee an opportunity to fulfill the necessary requirements without facing harsher penalties, such as suspension or revocation, which would be more severe consequences. The maintenance of inactive status highlights the importance of compliance in ensuring that the licensee can continue their career in real estate once the issues are resolved.