Exam (elaborations)
LEASING EXAM 1 QUESTIONS AND ANSWERS
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LEASING EXAM 1 QUESTIONS AND ANSWERS
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Name: Score:106 Multiple choice questions
Term 1 of 106
Another name for personal property is?
personal property
fixture
real
chattel
Term 2 of 106
The Statute of Frauds requires?
all verbal agreements are automatically enforceable in court
leases of any duration can be enforced without any written agreement
all leases longer than one year to be in writing to be enforceable in court
only leases shorter than six months need to be documented
Term 3 of 106
A prospective tenant visits an apartment complex. The leasing manager shows the prospect
two available units. Which of the following criteria CANNOT be used in evaluating the
prospect's application?
Criminal background check
Credit history
Income verification
Medical history
,Term 4 of 106
A licensee selling their own home must include the following in their advertisement?
real estate recovery fund
only residential leasing activities
"Agent owned or broker owned"
4 times in 4 years
Term 5 of 106
Which is TRUE about sponsor cards?
Sponsor cards are only issued for leasing agents.
All sponsor cards must be displayed on the wall of the licensee's office.
It is a temporary 45 days permit isssued by the sponsoring broker
It is a 180 day student permit
Term 6 of 106
If a licensee advertises a 15 year old home as "new", this is?
fraud/misrepresentation
30 days of lease expiration with itemized list
mistake
derivative works
Term 7 of 106
What contract is usually voidable by the minor?
a contract between an adult and a minor
a contract that has been notarized and witnessed
a contract involving two adults with mutual consent
a contract that is fully executed and signed by both parties
,Term 8 of 106
When must escrow money be deposited by the sponsoring broker?
no later than the next business day following the transaction
only after the transaction is finalized
within one week of the transaction
immediately upon receiving the funds
Term 9 of 106
The Fair Housing Amendment Act of 1988 includes which of the following protected classes?
disabilities and age
disabilities and familial status
familial status and age
familial status and sex
Term 10 of 106
Owners are exempt from fair housing act in __________ units or less.
4
14
6
2010
Term 11 of 106
How much notice in Illinois is required to terminate a month to month lease?
15 days
3 years
5 years
30 days
, Term 12 of 106
The practice of inducing a person to lease or purchase by making representations about the
ethnic makeup of the neighborhood or about a particular persons race living in that
neighborhood is called?
steering
redlining
blockbusting
fraud
Term 13 of 106
A licensee advertises a 15 year old building as new. This is called what?
defamation
steering
fraud
duress
Term 14 of 106
Who is acceptable to redline?
consideration
lending institutions
personal property
antitrust violations
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