Exam (elaborations)
ILLINOIS REAL ESTATE QUESTIONS AND ANSWERS
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ILLINOIS REAL ESTATE QUESTIONS AND ANSWERS
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Name: Score:121 Multiple choice questions
Term 1 of 121
what is the purpose of the acknowledgement by a notary public on a deed
to set the selling price of the property
to provide legal advice to the grantor
to assure that the grantors signature us genuine
to determine the property boundaries
Term 2 of 121
A grantee is to a deed as a devisee is to a
An exception to a zoning ordinance
substantially equivalent to federal regulations.
will
Severance
Term 3 of 121
A licensee has a new listing and is hosting an open house. A prospective buyer attends the
open house. The agent subsequently offers to show the buyer other listings in the
neighborhood. Three days later, the buyer tells the licensee that she wishes to make an offer
on the house she viewed at the open house. Since no agency disclosures had been previously
made, the licensee will be acting as a(n):
A buyer's agent
Beneficiary
A managing broker cashes an earnest money check, using the money for past due office
rent
Undisclosed dual agent
,Term 4 of 121
Restrictive covenants that "run with the land":
Apply to all successive owners of the property
Only affect the current owner of the property
Can be easily revoked by the property owner
Are applicable for a limited time period
Term 5 of 121
Which of the following actives could cause Illinois licensee to be disciplined, suspended, fined,
or refused a license?
Familial status
Asbestos disclosure
Failure to pay state income taxes
A managing broker cashes an earnest money check, using the money for past due office
rent
Term 6 of 121
An Illinois real estate licensee is also a licensed attorney. Which of the following is true?
She must give up one of the licenses because she can't have both
She can act as the real estate agent and attorney in the same transaction
She can hold both licenses but cannot act as both in the same transaction
Be sued and may be required to alter his or her house to conform with the restrictions
,Term 7 of 121
At the expiration of an agency relationship, an agent still owes the duty of:
beneficiary
corporate social responsibility
confindentiality
environmental law
Term 8 of 121
Mr. Sharif has purchased an Illinois property from an Arabian conglomerate. The deed to the
property is written in Arabic. In order to record the deed, Mr. Sharif must
Translate the deed to french instead of english.
Record the deed without any translation.
Seek approval from the arabian conglomerate.
Have an English translation prepared by an official source and attach it to the deed
Term 9 of 121
A city can originate zoning and building codes to control the use of land for the welfare of the
greatest number of people through:
Powers Of Escheat
Power Of Eminent Domain
Government Controls
Police Powers
, Term 10 of 121
The agency the regulates and oversees the real estate activities in the State of Illinois is the:
Department of Financial and Professional Regulation
State Board of Real Estate
Chain of Title
Designated Managing Brokers May Designate which Agent Represents which Party
Term 11 of 121
Private deed restrictions on land may be created by:
Historical landmarks preservation orders
Deed, written agreement, and general plan restrictions in a subdivision
Zoning laws and regulations
Verbal agreements between neighbors
Term 12 of 121
As generally classified, real estate that is in the "special use" category may include all of the
following EXCEPT:
Townhomes
Mobile Homes
Michigan
Condominiums
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