Idaho Real Estate Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Study for the Idaho Real Estate Exam. Utilize flashcards and multiple-choice questions, each with hints and explanations. Prepare for your success!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

How many licensed individuals are required in a firm to establish an office policy for Limited Dual Agency with Assigned Agents?

Two
Three
Four
None specific number required

The correct answer is: Two

In establishing an office policy for Limited Dual Agency with Assigned Agents, having two licensed individuals is essential. This requirement stems from the need for a balanced approach in managing dual agency situations within real estate transactions. The two licensed individuals typically include a designated broker and another agent who may help develop and formalize the policy. This collaborative effort ensures that the policy is comprehensive and adheres to legal and ethical standards. In contrast, having fewer than two individuals would not provide the necessary oversight or diverse perspectives that a solid policy requires. Conversely, needing more than two individuals, while potentially beneficial for input, is not mandated by the rules governing dual agency. Therefore, two licensed individuals are the minimum necessary to create a robust office policy that effectively addresses the complexities involved in limited dual agency situations.