Exam (elaborations)
LEASING LICENSE EXAM QUESTIONS AND ANSWERS
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LEASING LICENSE EXAM QUESTIONS AND ANSWERS
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Name: Score:344 Multiple choice questions
Term 1 of 344
Owners are exempt from fair housing act in __________ units or less.
spot zoning
4
stigmatized property
April 22, 2010
Term 2 of 344
How many children come in contact with Lead Based Paint?
Each Branch Office must have a Managing Broker who is appointed by the sponsoring
broker.
Supervised by the sponsoring broker
interviewing of parties to a complaint and to make recommendations to IDFPR (besides
in areas where the advisor conducts business)
Licensees may renew their license within 90 days of the expiration date and must
meet applicable Continuing Education requirements (unless "exempt") and pay a
renewal fee to IDFPR.
Each year, more than 300,000 children are exposed to lead-based paint in residential
properties.
In fact, in Illinois, there are 9,000 children at risk for lead contamination.
,Term 3 of 344
What does the Deputy Director do?
oversee financial audits of real estate firms
manage public relations for the real Estate Board
administer the licensing requirements of the License Act
conduct training sessions for real estate agents
Term 4 of 344
Agency - written disclosure?
Licensees must disclose all forms of compensation received from a third party
restricts who else can receive those services from that same agent
business-to-business with that person, but nobody else
always direct the advertising details toward the
property and not the intended type of people who you think might occupy it.
Every customer must be given written
notice as to who his/her designated agent is BEFORE beginning to work with that person
Term 5 of 344
Injunction
Preliminary injunction
Temporary restraining order
Freeze order
Protective order
,Term 6 of 344
What is the best way to answer a question that a buyer is asking that cannot be answered
because it violates privacy?
a lease is a bilateral contract between the owner (Lessor) and the tenant (Lessee).
indicate you are not at liberty to discuss
another resident with them.
The Illinois Association of Realtors (IAR)
suggests that perhaps a "Notice of No Agency" form be used in the rental of residential
property.
Board members receive a per diem stipend and receive reimbursement of expenses
while serving
Term 7 of 344
real property is also known as ________
Real estate portfolio
Bundle of rights
Property management system
Land use regulation
, Term 8 of 344
exclusive contract
You may wish to mutually agree (between the owner/landlord and the tenant) to
surrender the lease if circumstances dictate.
ex) Allergies are so bad that one cannot live in that apartment
when one person promises the other party something in order to get that party to react.
ex) if an individual places an advertisement in the local newspaper to provide an award
in the event a missing item is returned, that individual is obligated to pay the award if the
item is indeed returned
licensees may be required to submit to a
mental or physical exam if IDFPR believes the person is incompetent or under the
influence of drugs/alcohol
restricts who else can receive those services from that same agent
business-to-business with that person, but nobody else
Term 9 of 344
What amendment to the Fair Housing Act aimed to include familial status & handicapped?
1 Year
1988 Amendment
1964 Amendment
1972 Amendment
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