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Illinois Real Estate Exam 2024/2025 (100% verified) A+ grade assured
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Illinois Real Estate Exam 2024/2025 (100% verified) A+ grade assured
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Illinois Real Estate ExamIn Illinois, the real estate license law is administered by the...? - ANSIDFPR (Bureau of Real
Estate Professions)
How are the nine members of the Real Estate Administration and Disciplinary Board
Selected? - ANSBy the governor
What is the name given to the Illinois license laws under which brokers and salespeople
practice? - ANSReal Estate License Act of 2000
After May 1, 2011, the new license categories are: - ANSManaging Broker and Broker
After April 30, 2012, as an alternative to passing the proficiency exam given by AMP, what
are the requirements for converting a salesperson's license to a broker license? - ANS30
hours of post-licensure education, as defined by administrative rule.
In Illinois, sponsor cards are good for: - ANS45 days
What are the requirements for a newly licensed broker effective May 1, 2011? - ANS90
hours of pre-license coursework including 15 hours of situational offerings
After May 1, 2011, what must a broker do to convert a managing broker license? -
ANSComplete 45 hours of post-license education
When do real estate brokers' licenses expire in Illinois? - ANSApril 30 of every
odd-numbered year
To renew a license in Illinois, brokers must..? - ANSHave completed 12 hours of continuing
education in the last two years and pay the current fee.
Licensees who allow their licenses to expire have how long to reinstate their licenses? -
ANSUp to two years; then licensees must start over
What procedures must be followed to obtain a license that has been expired for more than
two years? - ANSMeet the requirements for a new license, including all pre-license
education and passing the exam
Three weeks before N begins his real estate pre-license class, he offers to help his neighbor
sell her house. The neighbor agrees to pay N a 5% commission. An offer is accepted while
N is taking the class and closes the day after N passes the exam and receives his
salesperson license. The neighbor refuses to pay N the agreed commission. Can N sue to
recover payment? - ANSNo. State law prohibits lawsuits filed to collect commissions unless
filed by a licensed broker - one with a license in effect before the agreement was reached.
,Which of the following conditions is NOT required to grant a nonresident broker's license in
Illinois? - ANSThe broker has been active in the real estate business in her own state for one
year prior to application.
The resident property manager for Acme Apartments is responsible for negotiating leases for
the apartment. In this position, the resident manager: - ANSIs exempt from the licensing
requirements.
After failing the Illinois licensing exam three times, what does a candidate have to do to get
three more tries? - ANSComplete the entire education requirement again.
When terminating a sponsorship, the sponsoring broker must return the signed license to the
DPR within - ANSTwo business days by signature restricted mail delivery.
A leasing agent license requires how many hours of classroom time? - ANS15 hours
In order to practice real estate, Illinois requires new licensees to have which of the following
in their possession? - ANSA 45-day sponsor card, then a pocket card later
An agent is terminated by his broker for failure to pay the office bill. While the agent is
looking for a new office, he is considered to have what kind of license? - ANSInoperative
Performing which of the following activities requires a real estate license? - ANSNegotiating
Lease Terms
J was really good at locating temporary housing for friends. They have encouraged her to
start a small home business assisting people who are looking to rent. What is the first thing
she should do? - ANSGet a real estate license
Proof of continuing education is required every - ANSTwo years
Of the following, who is required to hold an Illinois real estate license? - ANSA person who
represents clients in the negotiation of a real estate contract for a flat fee.
All compensation earned by a licensee must be paid: - ANSThrough the licensee's
sponsoring broker
Who would be eligible after completing education for an appraiser's license? - ANSA mom
who will work part-time (no corporation, only people)
What is usually considered proof in Illinois courts that the broker has earned a commission?
- ANSThe closing of a sale
A seller needs to sell quickly because he is getting transferred. Hoping to create excitement,
he agrees to a 7% commission. The listing broker's offer to the cooperating broker must be: -
ANSDisclosed to the seller in writing what the compensation will be.
, The office assistant for a local real estate firm is responsible for the following activities:
tracking the flow of paperwork through the office, preparing forms and advertising copy, and
hiring and supervising clerical personnel. The office assistant is: - ANSExempt from real
estate licensing requirements.
In Illinois, a personal assistant must be licensed to - ANSExplain simple contract documents
to prospective buyers.
In Illinois, a personal real estate assistant - ANSMay insert factual information into forms
under the agent's supervision and approval.
The broker's unlicensed assistant worked late nights and weekends to help ensure the
successful closing of a difficult transaction. The assistant's extra work included making
several phone calls to the prospective buyers, encouraging them to accept the seller's
counteroffer. Largely because of the assistant's efforts, the sale went through with no
problem. Now the broker wants to pay the assistant a percentage of the commission
"because the assistant has really earned it". Under Illinois law, the broker may: - ANSNot
pay a commission to the assistant under the facts presented here.
A licensed personal assistant wishes to hold a public open house. Is this allowed in Illinois? -
ANSYes, this is allowed if the assistant's license is held by the sponsoring broker.
A sponsored licensee has decided to hire a licensed personal assistant. How is
compensation paid to this licensed personal assistant? - ANSThrough the sponsoring broker.
A licensee decides to hire a personal assistant who does not hold a real estate license. In
this situation, which of the following is correct? - ANSThe licensee being assisted is
responsible for the activities of the unlicensed personal assistant.
After successfully passing the state exam, an individual is very excited about starting her
real estate career as quickly as possible. Under what circumstances, if any, can she practice
real estate before receiving her real estate license? - ANSThe sponsoring broker can
provide a temporary sponsor card that allows her to engage in the practice of real estate for
a maximum of 45 days.
What is NOT required of a nonresident to obtain a broker's license? - ANSRoom in the quota
system for an additional out-of-state broker (i.e., quid pro quo)
An unlicensed personal assistant may: - ANSProvide security at an open house
A broker has hired an unlicensed person as a leasing agent. What, if anything, allows an
unlicensed person to function as a leasing agent? - ANS120-day leasing agent permit.
What is the minimum number of continuing education hours that leasing agents must
complete to renew their licenses? - ANSSix hours every two years.
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