Iowa Real Estate Exam Prep and Crash Course

Iowa's real estate examinations are administered by PSI. The quickest means of scheduling a real estate exam is by visiting the website.

Candidates can also call at PSI at 855-898-0712.

Current Processing Timeframes: Iowa real estate licenses are generally processed in up to 14 business days.

Salesperson Exam

• An applicant must be at least 18 years of age and:
• Must complete a 60-hour pre-license course approved by the Iowa Real Estate Commission
• Must not have had an application rejected by Iowa or any other state in the year preceding the exam application; must not have had a license revoked in Iowa or any other state within two years of applying for the exam.
• All candidates are subject to an FBI background check, which may take up to four weeks
• Must successfully pass the state and national portions of the licensing examination; both portions of the exam must be valid at the time an applicant submits their application to the Real Estate Commission. Exam results are valid until the last working day of the sixth month following the exam date.
• Must obtain error and omissions insurance
• All applicants must create an account at My Iowa PLB and submit their application electronically through that site
• Pay the exam fee of $95

Must complete the following three courses from a provider approved by the Iowa Real Estate Commission. This includes:

• 12 Hours Buying Practices (only live instruction will be approved)
• 12 Hours Listing Practices (only live instruction will be approved)
• 12 Hours Developing Professionalism and Ethical Practices (only live instruction will be approved)
• All courses must be completed in less than one year prior to the Commission's receipt of your application

Broker Exam

• Must be at least 18 years of age and:
• Must have 24 months of active experience as a salesperson
• Must successfully pass the state and national portions of the licensing examination; both portions of the exam must be valid at the time an applicant submits their application to the Real Estate Commission. Exam results are valid until the last working day of the sixth month following the exam date.
• All applicants must undergo an FBI background check, which may take up to 4 weeks.
• Must obtain errors and omissions insurance
• Must submit application electronically through the candidate's My Iowa PLB account.
• Pay the exam fee of $95

Must complete 60 hours of broker pre-license course work within the 24 months preceding the exam date. This includes:

• Contract Law and Contract Writing - 6 hours
• Iowa Real Estate Trust Accounts6 hours
• Principles of Appraising and Market Analysis - 6 hours
• Real Estate Law and Agency Law - 6 hours
• Real Estate Finance - 6 hours
• Federal and State Laws Affecting Iowa Practice - 6 hours
• Real Estate Office Organization, Administration & Human Resources - 12 hours
• Real Estate Technology and Data Security - 6 hours
• Ethics and Safety Issues for Brokers - 6 hours 

The exam consists of a national portion, which has 80 questions. Candidates have 120 minutes to complete the national portion. There is also a state-specific portion, which consists of 40 questions. Candidates have 60 minutes to complete the state portion. Candidates have 180 minutes to take the combined exam. Both portions are multiple-choice.

Exams are given by computer and can be taken at the following locations: West Des Moines, Cedar Rapids, and Council Bluffs.

1. National (General) Portion

• Property Ownership
  
  • Types of property (real vs. personal)
  • Estates in land (freehold, leasehold)
  • Forms of ownership (tenants in common, joint tenancy, etc.)
  • Encumbrances (easements, liens)
• Land Use Controls & Regulations
  
  • Zoning and building codes
  • Private controls (deed restrictions, HOA covenants)
  • Public controls (eminent domain, escheat, taxation)
  • Environmental regulations
• Valuation & Market Analysis
  
  • Appraisal principles (cost, income, sales comparison approaches)
  • Competitive Market Analyses (CMA)
  • Influences on property value (economic, political, social)
• Financing
  
  • Loan types (FHA, VA, conventional)
  • Mortgage terminology (mortgage, deed of trust, promissory note)
  • Primary vs. secondary mortgage markets
  • Lending process, qualifying buyers, credit laws
• General Principles of Agency
  
  • Creation and termination of agency
  • Fiduciary duties (confidentiality, loyalty, disclosure, etc.)
  • Agency relationships (seller, buyer, dual agency)
  • Responsibilities to clients vs. customers
• Property Disclosures
  
  • Material facts and defects
  • Federal requirements (lead-based paint, etc.)
  • Seller disclosure obligations
  • Liability for misrepresentation or non-disclosure
• Contracts
  
  • Essential elements (offer, acceptance, consideration, capacity)
  • Types of contracts (listing, purchase, lease, option)
  • Contract termination, breach, remedies
  • Statute of frauds and enforceability
• Leasing & Property Management
  
  • Types of leases (gross, net, percentage)
  • Landlord-tenant rights and responsibilities
  • Property manager duties
  • Lease provisions and termination
• Transfer of Title
  
  • Deeds (warranty, special warranty, quitclaim)
  • Title insurance, title searches
  • Escrow and closing procedures
  • Recording and constructive/actual notice
• Practice of Real Estate
  
  • Fair housing and anti-discrimination laws
  • Advertising regulations, anti-trust laws
  • Ethical practices, professional standards
  • Escrow/trust accounts, earnest money
• Real Estate Calculations
  
  • Math for prorations, commissions, net to seller
  • Loan-to-value ratios, discount points, amortization
  • Closing cost calculations

2. Iowa-Specific Portion

• Iowa Real Estate Licensing Law
  
  • Types of licenses (salesperson, broker)
  • Eligibility requirements, education, exams, and fees
  • License maintenance, renewals, continuing education
  • Grounds for denial, suspension, or revocation
• Iowa Real Estate Commission (IREC) Rules
  
  • Authority and structure of the Commission
  • Complaint procedures, investigations, disciplinary actions
  • Requirements for brokers supervising salespersons
• Agency Relationships in Iowa
  
  • Agency disclosure requirements
  • Dual agency, designated agency, transaction brokerage (if applicable)
  • Duties owed to clients vs. customers
  • Written agency agreements and required forms
• Trust Accounts and Record-Keeping
  
  • Handling of earnest money and client funds
  • Commingling and conversion rules
  • Audit and record-retention requirements
  • Reporting irregularities to the Commission
• Iowa-Specific Contracts and Forms
  
  • Mandatory disclosures (e.g., property condition, lead-based paint)
  • Iowa Statute of Frauds for real estate transactions
  • Electronic signatures (validity under Iowa law)
  • Seller disclosure statements
• Regulatory Compliance & Ethical Standards
  
  • Advertising rules (brokerage name, team names, fair housing logos)
  • Unauthorized practice of law (drafting vs. filling in forms)
  • Iowa fair housing provisions and protected classes
  • Consumer protection (misrepresentation, fraud)
• Property-Related Regulations Specific to Iowa
  
  • Iowa-specific land use regulations, farmland, or agricultural issues
  • Mechanic’s liens and local rules for disclosures
  • Homestead laws (exemptions, spousal signatures)
• Property Management & Rental Laws (Iowa)
  
  • Landlord-tenant regulations, security deposit limits
  • Eviction process in Iowa
  • Property management agreements, licensing requirements

Salesperson Examination: To successfully the pass the national portion of the test, applicants must answer at least 56 of the 80 questions correctly. To pass the state test, applicants need to answer 28 of the 40 questions correctly.

Broker Examination: To successfully pass the national portion of the test, applicants must answer at least 60 of the 80 questions correctly. To pass the state test, applicants need to answer 30 of the 40 questions correctly.

All applicants must bring 2 forms of identification to the exam. These must be valid, include a signature, and the name must match the name on the name on the applicant's registration. One of them must be government-issued and photo-bearing. This can include any of the following:

• Driver's license
• US passport
• US green card
• Social Security card
• Debit or credit card (with signature)

Study for the Iowa exam

• Iowa Real Estate Exam: Format, Cost & Pass Rate — our full guide to what’s on the exam and how it’s scored.
• Free real estate practice exam — try 20 questions like the ones in our test bank.
• How to study for the real estate exam — the study plan we recommend before your crash course.

Official Iowa resources

• Candidate Licensing Bulletin
• Iowa real estate exam guide
• Iowa real estate licensing guide