Chicago real estate exam - Study guides, Class notes & Summaries

Illinois Leasing Agent License Exam Questions With 100% Correct Answers What is the name given to the Illinois license laws under which real estate brokers practice? - answerReal Estate License Act of 2000 Practicing real estate without a license, and could result in being fined up to what? - answer$25,000 per event. How long must real estate brokers keep records in Illinois? - answer5 Years. The ruling of Chicago Bar Association, et al. v. Quinlan and Tyson, Inc has to deal with what? - ...

Illinois Leasing Agent License Exam Questions With 100% Correct Answers What is the name given to the Illinois license laws under which real estate brokers practice? - answerReal Estate License Act of 2000 Practicing real estate without a license, and could result in being fined up to what? - answer$25,000 per event. How long must real estate brokers keep records in Illinois? - answer5 Years. The ruling of Chicago Bar Association, et al. v. Quinlan and Tyson, Inc has to deal with what? - ...

Illinois Real Estate Leasing Agent Exam Questions And Revised Correct Answers 2024 Already Passed A commercial lease calls for a minimum rent of $1200 per month 4% of the annual gross business exceeding $150,000. If the total rent paid at the end of one year was $19,200, how much business did the tenant do during the year? – ANSWER : A. $159,800 B. $250,200 C. $270,000 D. $279,200 C In Illinois, which of these statements is TRUE regarding a lease for more than one year?...

Chicago Real Estate School Final Exam Questions and AnsWho does the FHA insure against loss? - ANSWERLenders (insures lenders against buyer default) What are physical characteristics of real estate? - ANSWERIUI Immobility (can't be moved); Indestructibility (land can't be destroyed); Uniqueness (no piece of land is identical to the other); What is reversion? - ANSWERWhen the rights of ownership to a life estate go back to the person who created the life estate. What's the best actio...

Leasing Agent Exam Questions Chapter 5 100% Solved Real estate licensees must: A. carry their real estate license in their wallet at all times B. give their real estate license to their sponsoring broker, who will post it in a public space in the sponsors office C. post their real estate license on the wall at home D. mail their real estate license to the regulating agency, where it will be hung in the Directors office - answerB. give their real estate license to their sponsoring broker,...

Leasing Agent Exam Questions Chapter 5 100% Solved Real estate licensees must: A. carry their real estate license in their wallet at all times B. give their real estate license to their sponsoring broker, who will post it in a public space in the sponsors office C. post their real estate license on the wall at home D. mail their real estate license to the regulating agency, where it will be hung in the Directors office - answerB. give their real estate license to their sponsoring broker,...

Leasing Agent Exam Questions Chapter 5 100% Solved Real estate licensees must: A. carry their real estate license in their wallet at all times B. give their real estate license to their sponsoring broker, who will post it in a public space in the sponsors office C. post their real estate license on the wall at home D. mail their real estate license to the regulating agency, where it will be hung in the Directors office - answerB. give their real estate license to their sponsoring broker,...

Leasing Agent Exam Questions Chapter 5 100% Solved Real estate licensees must: A. carry their real estate license in their wallet at all times B. give their real estate license to their sponsoring broker, who will post it in a public space in the sponsors office C. post their real estate license on the wall at home D. mail their real estate license to the regulating agency, where it will be hung in the Directors office - answerB. give their real estate license to their sponsoring broker,...

Who does the FHA insure against loss? - ANSWERLenders (insures lenders against buyer default) What are physical characteristics of real estate? - ANSWERIUI Immobility (can't be moved); Indestructibility (land can't be destroyed); Uniqueness (no piece of land is identical to the other); What is reversion? - ANSWERWhen the rights of ownership to a life estate go back to the person who created the life estate. What's the best action/intention to show interest in a contract? - ANSWEREar...

Illinois State Test- Broker Exam Questions and Answers 100% Pass How far back does a typical title search in Illinois go? 40 Years Who is the recorder of deeds for the county in Illinois? County Clerk Statutory method of proration in Illinois equation: Yearly Charge divided by 360 State and County transfer taxes in Illinois are usually paid by: The Seller Which of the following best describes the status of the common law of agency in Illinois as it relates to broker/client relationships? It ...