Indiana Real Estate Exam: Everything You Need to Know

The Indiana real estate exam is the gateway to getting your license and becoming a real estate agent. This article will cover everything you need to know about the Indiana real estate exam. Here’s a list of what you can expect to gain as you read on:  

• How to schedule the Indiana Real Estate Licensing exam 
• The requirements to register for the exam
• The cost of the exam
• Where you can take the exam 
• What is covered on the exam 
• The difficulty level of the exam 
• Best tips to pass the exam 

How to Schedule the Indiana Real Estate Licensing Exam

To schedule the Indiana real estate exam, all aspiring candidates must first successfully complete the Commission-approved 90-hour pre-license course. After meeting this requirement, you can register for your exam. The fastest way to do this is by visiting the PSI website. 

You’ll be asked to create an account if you're a new user. You can do this by inputting your email address and full name as written on your identification. After registration, you can choose your desired date and test location to schedule your exam. 

Aside from online registration, you can also register over the phone at (800) 733-9267 at the following hours: 

• Monday through Friday between 6:30 am and 9:00 pm
• Saturday-Sunday between 8:00 am and 4:30 pm, Central Time

While scheduling the exam, you must pay a non-refundable exam fee of $53. Note that this fee is only for one exam and valid only for a year from the payment date. 

Where Do You Take the Indiana Real Estate License Exam?

Candidates for the Indiana real estate licensing exam are to take their exams at any designated PSI test centers around the state. These locations include: 

• Anderson
• Avon 
• Columbus 
• East Chicago 
• Evansville
• Fishers
• Fort Wayne
• Goshen 
• Indianapolis
• Kokomo
• Lafayette
• Lawrenceburg
• Madison 
• Muncie
• Richmond
• South Bend
• Terre Haute
• Valparaiso
• Warsaw 

Can You Take the Exam Online?

Yes, you can take the Indiana real estate exam online via online proctoring. Candidates are allowed to take the exam from the comfort of their homes. To do this, select the online testing option while scheduling your exam on the PSI website. 

Before the exam, you must run a system test and exam simulation on your computer to ensure your system fits the online proctoring requirements. The exam must be taken in an enclosed, private space with a strong and stable internet connection. 

What to Bring on the Day of Your Exam

On the day of your Indiana real estate exam, you are expected to bring the following.

• Two forms of VALID, non-expired identification that bear your signature. The first ID must bear your signature and photograph, while the second ID must have your signature and preprinted legal name.

For your primary form of identification, you can choose one out of the following:

• State-issued driver’s license
• State-issued identification card
• US Government Issued Passport
• US Government Issued Military Identification Card
• US Government Issued Alien Registration Card
• A state-issued temporary paper license is only acceptable if accompanied by a state-issued unexpired permanent license.

For your secondary identification, you can choose one out of the following: 

• Credit Card (must be signed)
• Debit Card (must be signed)
• Wholesale store card (COSTCO, Sam’s, etc.)
• An online calculator will be provided at the exam center, but you can bring a silent, non-programmable calculator if you like 

You are advised to attend your appointment at least 30 minutes early on the exam day. This additional time is for identification and sign-in and for you to become familiar with the examination procedure.

What is on the Indiana Real Estate Exam?

The Indiana real estate broker licensing exam is made up of two sections, namely: 

• The general portion, comprising questions based on national real estate principles and practice
• The Indiana state-specific portion, comprising questions based on Indiana real estate laws, rules, and regulations 

General Portion 

Here are the topics you will come across in the national portion of the broker exam, with the percentage of questions you can expect per topic: 

• Property ownership; 10%
• Land use controls and regulations; 5%
• Valuation and market analysis; 7%
• Financing; 8%
• General principles of agency; 11%
• Property disclosure; 7%
• Contracts; 18%
• Leasing and property management; 5%
• Transfer of title; 7%
• Practice of real estate; 14%
• Real estate calculations; 8%

State Portion 

Here are the topics you will come across in the state portion, with the number of questions you can expect per topic:

• The Indiana Real Estate Commission; 4
• Licensing; 8
• Statutory & Regulatory Requirements; 18 
• Statutes & Rules Governing Licensees; 16 
• Real Estate Office Procedures; 4

Will There Be Math on the Exam?

Yes, there will be math on the Indiana real estate licensing exam. These math questions will be found in the general portion and will be related to:

• Basic math concepts, such as
• Loan-to-value ratios
• Discount points
• Equity
• Down payment/amount to be financed
• Calculations for transactions, including 
• Property tax calculations
• Prorations
• Commission and commission splits
• Seller’s proceeds of sale
• Buyer funds needed at closing
• Transfer fee/conveyance tax/revenue stamps
• PITI payments
• Calculations for valuation, rate of return
• Net operating income
• Depreciation
• Capitalization rate
• Gross Rent and gross income multipliers

Keep in mind that solving these math problems could be difficult and time-consuming. It is, therefore, best to save these questions for later while you continue to answer the other questions unless the answers are easy. This allows you to answer more questions and make the most of your allocated time. 

Is the Indiana Real Estate Exam Hard?

As can be expected of any professional certification exam, the Indiana real estate exam is hard and will only get harder for poorly prepared candidates. This is why it is important to study hard and get all the help that you can before taking the exam. 

How Many Questions Are on the Indiana Real Estate Exam?

The Indiana real estate broker exam has a total of 125 multiple-choice questions. 75 of these questions fall under the national portion, while the remaining 50 fall under the state-specific portion. Candidates are given a total of 4 hours to complete the exam (2 ½  hours for the national section and 1 ½  hours for the state section.)  

Note that about 5-10 experimental questions may be added to a candidate's test. These questions are used to evaluate the quality of the exam and develop future licensing examinations. These questions will not be scored, neither will the time used to answer them count against the testing time.  

To pass this exam, you need to have gotten a minimum of 60 points (out of 80) correct in the national section and 38 points (out of 50) in the state section. Once you submit the exam, your score will be displayed on the screen, alongside a pass or fail indication. 

If you pass, you’ll receive a successful score report. If you do not pass, you will receive a diagnostic report indicating your strengths and weaknesses by examination type.

How Many Times Can You Take the Real Estate Exam?

You can take the Indiana real estate exam as many times as you need to pass it, as far as it is within one year of completing the required prelicensing education. Candidates who pass one portion of the exam and fail the other need to retake only the portion they failed.

Note that you’ll be required to pay an exam fee of $53 at every attempt to take the exam, whether you’re taking both sections or just one section. 

How to Pass the Indiana Real Estate Exam

To pass the Indiana real estate exam on the first trial, candidates must study hard for the exam. There are some proven strategies that you can implement to feel ready to ace the exam on your first try. They include: 

Create a Study Schedule 

When preparing for an exam like the Indiana real estate exam, creating a study schedule may be just what you need to balance your study sessions with your other daily commitments. A well-planned study schedule will improve your daily time management by ensuring that every minute of your time is accounted for.  

Do not forget to input frequent breaks into your study schedule to prevent burnout. It's also best to set your study time to periods of the day when you are less busy or distracted, such as early in the morning and late at night. We recommend studying for a little bit every night or at least every other night.

Use Acronyms and Mnemonic Devices

Acronyms and mnemonic devices are memory aids that break down complex information into smaller and simpler chunks that are easier for the brain to process and remember. Acronyms are formed by taking the first letters of each word in a phrase and forming a word with it. A good example of a real estate acronym is CCIM, which stands for Certified Commercial Investment Member. 

Similarly, mnemonic devices are formed by associating a piece of information with something that can be easily related to it. A good mnemonic device detailing the four essential characteristics a property must possess to have value would be “Don’t Utter Silly Things”

• Don’t for Demand
• Utter for Utility
• Silly for Scarcity
• Things for Transferability

Join a Study Group 

Joining a study group can significantly increase your chances of success in the exam by improving your learning process. It provides you with like-minded people to be accountable to, helping you to be more intentional. Studying in a group can also boost your motivation to study and pass, born out of healthy competition.

Get Guided Help

When you’re studying for the exam, you have a lot of ground to cover. It might be overwhelming for some.

That’s why we created a real estate exam prep package. This online package consolidates all the information you need to know and provides study resources to help you learn the information.

You’ll get access to the following at a very affordable price:

• 1,500 Indiana real estate exam practice questions
• Customizable practice state exams
• Vocabulary flashcards
• Video explanations
• E-book study guide

Final Thoughts on the Real Estate Exam in Indiana 

The Indiana real estate exam is compulsory for all individuals who want to be licensed real estate brokers in the state. Passing this exam requires careful preparation and a solid understanding of real estate concepts and practices. To increase your chances of succeeding on this exam, follow the tips provided above, as well as enroll in a reputable real estate school.