Illinois broker licensing Study guides, Class notes & Summaries

illinois state law 100% VERIFIED SOLUTIONS Mr. Smith sells his Illinois home for $151,050. He will be required to pay how much in Illinois transfer taxes? A » $ 227.25 B » $ 226.58 C » $ 454.50 D » $ 453.16 - ANSWER A Illinois transfer tax is $.75 per $500 of sales price, or portion thereof and is paid by the seller. $.50 goes to the state and $.25 is retained by the county where the property is located. $151,050 divided by $500 = 302.10. In this case, the .10 indicates we have...

Real estate sale associate pre license course exam prep (GOLD COAST HIGHLIGHTS) Questions and Answers 100% Pass Farming - Answer- licensee concentrate on one type or style of property or on one particular neighborhood Farm area or target market - Answer- Finding and specializing in a particular neighborhood or type of property. Considered to be one of the best ways to succeed in the real estate business Tract building - Answer- When a developer acquires a large tract of land, records a ...

T, a licensee from Illinois, has been retained by the probate court to sell all the real estate in J's estate. One of the properties located in INDIANA. If T wants to sell the property located in INDIANA. In this situation. which of the following statements is correct? - Answer-T can apply to the Indiana real estate commission for written permission to sell the property The attorney general do may do which of the following? - Answer-Subpoena documents for the investigation Which of t...

Real estate sale associate pre license course exam prep (GOLD COAST HIGHLIGHTS) Questions and Answers 100% Correct Farming - Correct Answer ️️ -licensee concentrate on one type or style of property or on one particular neighborhood Farm area or target market - Correct Answer ️️ -Finding and specializing in a particular neighborhood or type of property. Considered to be one of the best ways to succeed in the real estate business Tract building - Correct Answer ️️ -When a devel...

Indiana State Law Real Estate 55. The Indiana Real Estate Commission's general powers under Indiana law include A. delegating rulemaking authority to the Indiana Association of REALTORS®. B. A directing the Office of the Attorney General to file specific charges against a broker. C. adopting rules defining incompetent practice of real estate. D.revoking a license and prohibiting the person from ever applying for a new license. D.revoking a license and prohibiting the person from ev...

Statutes and Regulations Casualty Insurance Illinois | Property and Casualty IL Law | IL Casualty Insurance Practice Test Questions and Answers 2023 Graded A. Who Needs a License? Producer license generally required when doing any of the following for compensation: • Selling insurance. • Encouraging someone to buy insurance. • Negotiating terms of insurance. • Giving insurance advice. • Acting without a license is Class A misdemeanor ($2,500 and 1 year in jail). Unlicensed Per...

Real estate sale associate pre license course exam prep (GOLD COAST HIGHLIGHTS)|Answered 100% Correctly Real estate sale associate pre license course exam prep (GOLD COAST HIGHLIGHTS)|Answered 100% Correctly Farming licensee concentrate on one type or style of property or on one particular neighborhood Farm area or target market Finding and specializing in a particular neighborhood or type of property. Considered to be one of the best ways to succeed in the real estate business Tra...

GOLD COAST Real Estate 100% SOLUTION 2023//2024 Farming - ANSWER licensee concentrate on one type or style of property or on one particular neighborhood Farm area or target market - ANSWER Finding and specializing in a particular neighborhood or type of property. Considered to be one of the best ways to succeed in the real estate business Tract building - ANSWER When a developer acquires a large tract of land, records a subdivision plat map, and uses a model center from which sale...

Illinois Real Estate Exam Prep Questions With 100% Correct Answers Who can and cannot complete the property condition disclosure documents? 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 licensee do if he or she takes a listing on a home built prior to 1978? The licensee must have the sellers fill out a disclosure form about ...

Illinois leasing agent practice exam Questions With 100% Correct Answers the leasing agent license shall expire on July 31st of: - answereven numbered years sponsoring brokers must submit the 45 day sponsor card to IDFPR within: - answer24 hours of employment leasing agent licensees must complete how many hours of containing education during the 24 month period prior renewal: - answer8 hours of continuing education The real estate recovery fund is: - answera fund at IDFPR to reimburse per...