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Illinois Leasing Agent Bundled Exam Questions and CORRECT Answers
Illinois Leasing Agent Bundled Exam Questions and CORRECT Answers
[Show more]Illinois Leasing Agent Bundled Exam Questions and CORRECT Answers
[Show more]What is the name given to the Illinois license laws under which real estate brokers 
practice? Real Estate License Act of 2000 
Practicing real estate without a license, and could result in being fined up to what? 
$25,000 per event. 
How long must real estate brokers keep records in Illinois? 5 Ye...
Preview 3 out of 16 pages
Add to cartWhat is the name given to the Illinois license laws under which real estate brokers 
practice? Real Estate License Act of 2000 
Practicing real estate without a license, and could result in being fined up to what? 
$25,000 per event. 
How long must real estate brokers keep records in Illinois? 5 Ye...
Acceptance by Ratification The acceptance of lease terms that occurs when a tenant 
takes possession of the property but does not sign a lease. This form of acceptance is 
recognizable by the courts. 
Accord and Satisfaction When all parties have agreed to a change in one or more of the 
terms of...
Preview 2 out of 13 pages
Add to cartAcceptance by Ratification The acceptance of lease terms that occurs when a tenant 
takes possession of the property but does not sign a lease. This form of acceptance is 
recognizable by the courts. 
Accord and Satisfaction When all parties have agreed to a change in one or more of the 
terms of...
1. The lease contract stated that the renters would bring in the security deposit within five 
days. It is now the sixth day and the renters have not brought in the money. This is legally 
referred to as: Breach 
2. In dealing with the public, a licensee: may keep silent about a material fact 
...
Preview 2 out of 6 pages
Add to cart1. The lease contract stated that the renters would bring in the security deposit within five 
days. It is now the sixth day and the renters have not brought in the money. This is legally 
referred to as: Breach 
2. In dealing with the public, a licensee: may keep silent about a material fact 
...
Illinois Leasing Agent UPDATED 
Questions and CORRECT Answers 
the leasing agent license shall expire on July 31st of: - CORRECT ANSWER- even 
numbered years 
sponsoring brokers must submit the 45 day sponsor card to IDFPR within: - CORRECT 
ANSWER- 24 hours of employment
Preview 2 out of 14 pages
Add to cartIllinois Leasing Agent UPDATED 
Questions and CORRECT Answers 
the leasing agent license shall expire on July 31st of: - CORRECT ANSWER- even 
numbered years 
sponsoring brokers must submit the 45 day sponsor card to IDFPR within: - CORRECT 
ANSWER- 24 hours of employment
Illinois Leasing Agent UPDATED 
ACTUAL Questions and CORRECT 
Answers 
Acceptance by Ratification - CORRECT ANSWER- The acceptance of lease terms that 
occurs when a tenant takes possession of the property but does not sign a lease. This form of 
acceptance is recognizable by the courts. 
Accord ...
Preview 2 out of 14 pages
Add to cartIllinois Leasing Agent UPDATED 
ACTUAL Questions and CORRECT 
Answers 
Acceptance by Ratification - CORRECT ANSWER- The acceptance of lease terms that 
occurs when a tenant takes possession of the property but does not sign a lease. This form of 
acceptance is recognizable by the courts. 
Accord ...
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