100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Illinois Real Estate Broker State Exam Questions and Answers 100% Correct £8.97   Add to cart
Quickly navigate to
Preview
  2.  
  3. Illinois Real Estate Broker
  4.  
  5. Illinois Real Estate Broker

Exam (elaborations)

Illinois Real Estate Broker State Exam Questions and Answers 100% Correct
 11 views  0 purchase
  • Module
  • Illinois Real Estate Broker
  • Institution
  • Illinois Real Estate Broker

Illinois Real Estate Broker State Exam Questions and Answers 100% CorrectIllinois Real Estate Broker State Exam Questions and Answers 100% CorrectIllinois Real Estate Broker State Exam Questions and Answers 100% CorrectIllinois Real Estate Broker State Exam Questions and Answers 100% Correct A cou...

[Show more]

Preview 1 out of 4  pages

Document information

  • May 25, 2024
  • 4
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • illinois real estate broker state exam questions a
  • illinois real estate broker state exam questions
  • illinois real estate broker state exam answers
  • a couple leased a waterfront bungalow the lease b

Written for

  • Illinois Real Estate Broker
  • Illinois Real Estate Broker

Seller

avatar-seller
NursingTutor1

Reviews received

Content preview

Illinois Real Estate Broker State Exam Questions and Answers 100% Correct
A couple leased a waterfront bungalow. The lease began on June 15, 2010 and continued through July 31, 2010. The couple had... - ANSWER-an estate for years.
What is an example of a general income tax deductible in home ownership? - ANSWER-Points paid to obtain the loan.
A licensee is representing prospective buyers. The licensee orally informed the buyers that the developer would be paving the streets in front of a house in a rural subdivision. The licensee had not verified this but assumed that it was true b/c the developer had done the paving in similar subdivisions. The buyers relied on the licensee's statement in
deciding to buy the house. If no contract exists spelling out paving responsibilities, who can be held accountable for damages? - ANSWER-The licensee b/c his unverified statement was misrepresentation.
Name a characteristic of a limited partner's role in a limited partnership. - ANSWER-
Reduced personal liability and no management decision making.
A home equity line of credit is.... - ANSWER-a secured loan.
A seller agreed to list an older house for sale on an "as is" basis. He told the licensee that the roof leaked occasionally and that the plumbing and electrical systems were old and outdated. After signing the listing agreement, the seller had the house inspected for
termites and rot damage. Both termite and rot damage were present, and the seller notified the licensee. If neither the seller nor the licensee told the buyer about the damage and the buyer personally inspected the property before closing, would the buyer be able to sue at a later date when the termite damage is found? - ANSWER-Yes,
b/c the licensee did not alert the buyer once he discovered the damages.
The closing date is approaching on the sale of a property to a buyer who is represented by a licensee. Although the sellers have both signed the sales contract, the licensee learns that a relative of the seller may have a title claim to this property. In this situation,
the licensee should.... - ANSWER-ask the listing licensee to advise the seller to contact an attorney to seek a quitclaim deed from the relative.
The primary purpose of the Real Estate Settlement Procedures Act (RESPA) is to... - ANSWER-inform the buyers and sellers of all settlement costs in real estate transactions.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller NursingTutor1. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £8.97. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

77254 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now

Start selling
£8.97
  • (0)
  Add to cart