Illinois broker licensing Study guides, Class notes & Summaries

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 ...

WebCE (General Insurance & Life Insurance) Exam Questions and Answers | Latest Updated 2023/2024 (Graded). An insurance producer tells a life insurance applicant that he has the authority to waive the medical exam that is normally required by the insurer with every application. The insurer may be required to accept the application without a medical exam due to the producer's: implied authority express authority apparent authority imputed authority - apparent authority All of the followin...

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 Tract building When a developer acquires a large tract of land, records a subdivision plat map, and uses a model center from which sales may be made Local level Government Regulation: At the local ...

Indiana state questions Correct answers latest update 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? 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? Subpoena docu...

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 exam prep Test Questions 100% Correct Answers The leasing agent license shall expire on July 31st of: - Answer -even numbered years Sponsoring brokers must submit the 45 day sponsor card to IDFPR within: - Answer -24 hours of employment Leasing agent licensees must complete how many hours of containing education during the 24 month period prior renewal: - Answer -8 hours of continuing education The real estate recovery fund is: - Answer -a fund at IDFPR to reim...

Illinois Leasing agent Exam prep with correct Answers New Update The leasing agent license shall expire on July 31st of: - Answer -even numbered years sponsoring brokers must submit the 45 day sponsor card to IDFPR within: - Answer -24 hours of employment leasing agent licensees must complete how many hours of containing education during the 24 month period prior renewal: - Answer -8 hours of continuing education The real estate recovery fund is: - Answer -a fund at IDFPR to reimburs...

Kevin is an Illinois sponsoring broker. RaeAnn is one of Kevin's sponsored licensees. RaeAnn is representing the Bothwell's as a listing agent. TJ, also one of Kevin's sponsored licensees, is representing James, who's buying the Bothwell's house. Under Illinois licensing law, who is a designated agent? Both RaeAnn and TJ As the property manager, Galena places security deposits in an interest-bearing account for her landlord, who owns 42 rental units. Galena isn't permitted to accept a l...

Illinois Real Estate Exam Prep Verified 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 their knowledge o...

WebCE (General Insurance & Life Insurance) Exam Questions and Answers | Latest Updated 2023/2024 | Graded. What is the mathematical concept of probability that helps insurers estimate the statistical likelihood of mortality or morbidity losses at any given age? law of large numbers underwriting principle law of probability actuarial principle - law of large numbers A person who refuses to engage is risky activities like rock climbing for fear of injury or death is demonstrating which risk...