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Compiled- Illinois Real Estate Practice Exam *Q&A* (100% Correct) 2025/2026 |VERIFIED| $9.57
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Compiled- Illinois Real Estate Practice Exam *Q&A* (100% Correct) 2025/2026 |VERIFIED|

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Compiled- Illinois Real Estate Practice Exam *Q&A* (100% Correct) 2025/2026 |VERIFIED| The person who borrows money to purchase real estate is commonly known as: Buyer When a tenant’s lease is violated because the landlord has allowed the rental unit to become uninhabitable, this ...

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  • December 8, 2024
  • 25
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • compiled illinois real estate practice exam qa

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  • Real Estate
  • Real Estate

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Compiled- Illinois Real Estate Practice Exam
*Q&A* (100% Correct) 2025/2026
|VERIFIED|
The person who borrows money to purchase real estate is commonly known as:

Buyer



When a tenant’s lease is violated because the landlord has allowed the rental unit to become
uninhabitable, this is referred to as:

Constructive Eviction



The deed containing the most covenants or warranties is known as:

General Warranty Deed

(In Illinois, the grantor's signature is required for conveyance and warranty.)



Which type of deed includes the term "grant, bargain, and sell"?

Bargain And Sale Deed



A deed that conveys, revises, and alienates the property with a guarantee that it was not encumbered
during the grantor’s ownership is known as:

Special Warranty Deed



The deed that involves revising, releasing, and quitting any claims to the property is called:

Quitclaim Deed



A personal mortgage or private mortgage is referred to as:

Deed Of Trust




1

,When a trustee creates a land trust by entrusting the property, this is documented by a:

Deed In Trust



Transfer of title occurs when:

The deed is delivered and accepted



After making the final mortgage payment, the homeowner should request the following to ensure the
mortgage lien is released:

Satisfaction Of Mortgage



When litigation affects the title to real estate, the legal notice recorded is called:

Lis Pendens

(This typically indicates that a foreclosure may occur.)



The document that serves as evidence of debt when filing a mortgage is a:

Promissory Note

(Without it, the mortgage is not legally valid.)



If a prospective buyer withdraws an offer before the seller has accepted it, the buyer is entitled to:

Withdraw the offer and recover the earnest money deposit



A rectangular parcel of land is 130 feet deep and 25 yards wide. How many square feet does it contain?

75 feet (25 yards = 75 feet) x 130 feet = 9,750 square feet



A grantor conveying title but only guaranteeing that the property was not encumbered during their
ownership would use a:

Special Warranty Deed



A tenant in a net lease would most likely be responsible for which of the following expenses?

2

, Maintenance



According to the Anti-Trust Laws, which activities are prohibited by real estate offices?

Agreeing with other real estate companies to divide the market by location

Agreeing with other companies on a commission schedule

Agreeing to create market territories



If a broker showed an owner-occupied property and a buyer's offer was accepted, which items could the
seller remove before the close of escrow?

None of the identified items unless specified in the contract



Trade fixtures are defined as:

Items installed by a tenant that are necessary for their business



Which of the following is classified as real property?

Fixtures



What is considered the most significant economic characteristic of land?

Area Preference



What type of estate gives the owner full control over the property?

Fee Simple Estate

(This is a freehold estate.)



A life estate that allows a person to live on the property until their death is:

Life Estate

(In Illinois, this is covered by Homestead protections.)




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