Idaho Real Estate Broker Exam — All Questions

Idaho's Subdivided Lands Disposition Act primarily protects buyers by requiring a subdivider to:

• a.Guarantee that every lot will increase in value
• b.Sell only to Idaho residents
• c.Provide a property report and register certain out-of-state or large subdivided offerings before selling✓
• d.Pay the buyer's closing costs

Idaho's Subdivided Lands Disposition Act requires subdividers of certain covered subdivided land to register the offering and provide prospective buyers a property report disclosing material facts about the land. This protects purchasers—often buying lots sight unseen—from misleading sales practices. It does not guarantee value or restrict buyers to Idaho residents.

An Idaho broker markets interests in a time-share project. Under Idaho law, the broker should confirm that:

• a.The project is exempt from all disclosure because it involves vacation use
• b.The time-share offering is properly registered and buyers receive the required disclosures✓
• c.Buyers waive all cancellation rights before touring
• d.The developer sets a fixed resale price for every interval

Idaho regulates the sale of time-share and subdivided-land interests and requires proper registration and buyer disclosures for covered offerings. A broker involved in marketing such interests must ensure the project complies and that buyers receive the mandated disclosure documents and any cancellation rights provided by law, rather than assuming vacation projects are exempt.

A key reason Idaho's subdivided-lands and time-share rules matter to a supervising broker is that:

• a.They eliminate the need for any agency disclosure
• b.They apply only to commercial office buildings
• c.They let the broker keep client deposits as commission
• d.The broker is responsible for ensuring affiliated licensees follow the registration and disclosure requirements✓

A designated or supervising broker is responsible for the conduct of affiliated licensees, including compliance with subdivided-lands and time-share registration and disclosure rules. Failing to supervise this activity can expose the broker to discipline. These rules operate alongside—not instead of—agency disclosure and trust-account requirements.