Illinois Real Estate Broker Exam Questions ;Real Estate Final Exam – Illinois Questions ;Illinois Broker Exam - State Questions;Illinois Broker Exam - State Questions;Illinois Real Estate License Test Questions
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Objectives of Federal Reserve System - ANSWERTo counteract inflationary and deflationary trends, to create a favorable economic climate, to maintain sound credit conditions but NOT to control the secondary mortgage market Remainder Interest - ANSWERA fee simple holder of a parcel of real estate g...
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Add to cartObjectives of Federal Reserve System - ANSWERTo counteract inflationary and deflationary trends, to create a favorable economic climate, to maintain sound credit conditions but NOT to control the secondary mortgage market Remainder Interest - ANSWERA fee simple holder of a parcel of real estate g...
In Illinois, the real estate license law is administered by the...? -ANSWER IDFPR (Bureau of Real Estate Professions) How are the nine members of the Real Estate Administration and Disciplinary Board Selected? -ANSWER By the governor What is the name given to the Illinois license laws under wh...
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Add to cartIn Illinois, the real estate license law is administered by the...? -ANSWER IDFPR (Bureau of Real Estate Professions) How are the nine members of the Real Estate Administration and Disciplinary Board Selected? -ANSWER By the governor What is the name given to the Illinois license laws under wh...
Who can and cannot complete the property condition disclosure documents? -ANSWER Disclosure documents must be completed by the seller, a family member (and signed by the seller), or seller's attorney or power of attorney. The licensee must never complete the disclosure forms. 2. What must a lice...
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Add to cartWho can and cannot complete the property condition disclosure documents? -ANSWER Disclosure documents must be completed by the seller, a family member (and signed by the seller), or seller's attorney or power of attorney. The licensee must never complete the disclosure forms. 2. What must a lice...
Brokerage -ANSWER the business of bringing people together in a real estate transaction real estate licensee -ANSWER acts as a point of contact between two or more people in negotiating the sale, purchase, or rental of property. A real estate licensee may be the agent for the buyer, for the selle...
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Add to cartBrokerage -ANSWER the business of bringing people together in a real estate transaction real estate licensee -ANSWER acts as a point of contact between two or more people in negotiating the sale, purchase, or rental of property. A real estate licensee may be the agent for the buyer, for the selle...
Fiduciary responsibilities agent has to its principal - ANSWEROLD CAR ; Obedience, Loyalty, disclosure, confidentiality, accounting, reasonable skill and care alienation - ANSWERThe act of transferring property to another. Alienation may be voluntary, such as by gift or sale, or involuntary, as t...
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Add to cartFiduciary responsibilities agent has to its principal - ANSWEROLD CAR ; Obedience, Loyalty, disclosure, confidentiality, accounting, reasonable skill and care alienation - ANSWERThe act of transferring property to another. Alienation may be voluntary, such as by gift or sale, or involuntary, as t...
Brokerage - ANSWERIs the business of bringing people together in a real estate transaction Appraisal - ANSWERIs the process of estimating a property's market value based on established methods and the appraisers professional judgment. Property Management - ANSWERIs a person or company hired t...
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Add to cartBrokerage - ANSWERIs the business of bringing people together in a real estate transaction Appraisal - ANSWERIs the process of estimating a property's market value based on established methods and the appraisers professional judgment. Property Management - ANSWERIs a person or company hired t...
Sandy wishes to start a new real estate company, although she has never had a real estate license of any type. She must be licensed for at least XX years before she can manage an office - ANSWERTwo An Illinois real estate agent, acting as a dual agent, is showing his listing that he knows has had...
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Add to cartSandy wishes to start a new real estate company, although she has never had a real estate license of any type. She must be licensed for at least XX years before she can manage an office - ANSWERTwo An Illinois real estate agent, acting as a dual agent, is showing his listing that he knows has had...
The purpose of a recovery fund is to: A. protect damaged licensees from clients who fail to pay earned commission. B. assist in the liquidity of a troubled brokerage through low-interest loans. C. ensure that judgements against licensees will be collectible within certain limits. D. replenish ...
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Add to cartThe purpose of a recovery fund is to: A. protect damaged licensees from clients who fail to pay earned commission. B. assist in the liquidity of a troubled brokerage through low-interest loans. C. ensure that judgements against licensees will be collectible within certain limits. D. replenish ...
Truth in lending laws apply to which of the following loans? -ANSWER A loan to a first-time home buyer To qualify as tax-deferred exchange, the property must be -ANSWER held for productive use in trade or business A buyer wants a guarantee that there are no unknown encumbrances against the pro...
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Add to cartTruth in lending laws apply to which of the following loans? -ANSWER A loan to a first-time home buyer To qualify as tax-deferred exchange, the property must be -ANSWER held for productive use in trade or business A buyer wants a guarantee that there are no unknown encumbrances against the pro...
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