ILLINOIS LEASING AGENT EXAM PREP
QUESTIONS
1. The lease contract stated that the renters would bring in the security deposit within five days.
It is now the sixth day and the renters have not brought in the money. This is legally referred to
as: - ANSWER-Breach
2. In dealing with the public, a licensee: - ANSWER-may keep silent about a material fact
concerning the property if the client is the owner. d) may negotiate different commissions with
different owners.
3. Escrow monies: - ANSWER-could include security deposits as well as earnest money.
4. An offer may be terminated: - ANSWER-if it is rejected; if it is changed; or if it is revoked
before acceptance.
A property management company runs a complex of several buildings, all belonging to the same
owner and on the same parcel of land. At the owner's request, the manager has made apartments
available to families with children in just two of the buildings. This practice is: - ANSWER-
Steering
6. In a lease an owner may hold a future interest in the property known as: - ANSWER-
Reversion are interest
7. Which of the following would be considered a dual agency? - ANSWER-A licensee is
representing both landlord and tenant in the same transaction.
8. To be enforced, the Statute of Frauds requires that all contracts for the sale or lease of real
estate be: - ANSWER-In writing
, 9. A young couple with a toddler and an infant want to lease an apartment in a complex that is
occupied primarily by adults. The rental agent shows the couple apartments only on the first
floor. Which of the following is true? - ANSWER-The rental agent should have inquired about
the couple's preference for apartments.
10. On Tuesday, the agent received an offer and a check for security deposit from a renter. The
owner accepted and signed the lease at 11 am on Wednesday. The agent must: - ANSWER-
deposit the money in his escrow account by the close of business on Thursday.
11. The primary requirement of a contract would be: - ANSWER-Offer and acceptance
12. Because of the complexity of laws that affect real estate today, a property manager should be
familiar with all of the following EXCEPT: - ANSWER-the "Blue-Sky" laws.
13. If a complaint goes to the federal courts based on the Civil Rights Act of 1866, the complaint
would be that there was discrimination based on: - ANSWER-Race
14. When a tenant, who has a written lease with the owner, sublets all or any part of the
premises: - ANSWER-the original lease is unaffected unless it contains a provision that prohibits
such subletting.
15. Which of the following people may discriminate on the basis of race? - ANSWER-No one
16. It would be a violation of the antitrust laws for a broker to: a) charge one owner 7% while
charging another 6%. - ANSWER-agree to a minimum commission with other brokers
17. The building leases prohibit tenants from altering the property in any way. One tenant is now
confined to a wheelchair, and cannot maneuver over the doorstep into the apartment by herself.
Nor can she use the bathroom facilities in her wheelchair. Which of the following is true? -
ANSWER-The tenant is entitled to make the necessary alterations.
QUESTIONS
1. The lease contract stated that the renters would bring in the security deposit within five days.
It is now the sixth day and the renters have not brought in the money. This is legally referred to
as: - ANSWER-Breach
2. In dealing with the public, a licensee: - ANSWER-may keep silent about a material fact
concerning the property if the client is the owner. d) may negotiate different commissions with
different owners.
3. Escrow monies: - ANSWER-could include security deposits as well as earnest money.
4. An offer may be terminated: - ANSWER-if it is rejected; if it is changed; or if it is revoked
before acceptance.
A property management company runs a complex of several buildings, all belonging to the same
owner and on the same parcel of land. At the owner's request, the manager has made apartments
available to families with children in just two of the buildings. This practice is: - ANSWER-
Steering
6. In a lease an owner may hold a future interest in the property known as: - ANSWER-
Reversion are interest
7. Which of the following would be considered a dual agency? - ANSWER-A licensee is
representing both landlord and tenant in the same transaction.
8. To be enforced, the Statute of Frauds requires that all contracts for the sale or lease of real
estate be: - ANSWER-In writing
, 9. A young couple with a toddler and an infant want to lease an apartment in a complex that is
occupied primarily by adults. The rental agent shows the couple apartments only on the first
floor. Which of the following is true? - ANSWER-The rental agent should have inquired about
the couple's preference for apartments.
10. On Tuesday, the agent received an offer and a check for security deposit from a renter. The
owner accepted and signed the lease at 11 am on Wednesday. The agent must: - ANSWER-
deposit the money in his escrow account by the close of business on Thursday.
11. The primary requirement of a contract would be: - ANSWER-Offer and acceptance
12. Because of the complexity of laws that affect real estate today, a property manager should be
familiar with all of the following EXCEPT: - ANSWER-the "Blue-Sky" laws.
13. If a complaint goes to the federal courts based on the Civil Rights Act of 1866, the complaint
would be that there was discrimination based on: - ANSWER-Race
14. When a tenant, who has a written lease with the owner, sublets all or any part of the
premises: - ANSWER-the original lease is unaffected unless it contains a provision that prohibits
such subletting.
15. Which of the following people may discriminate on the basis of race? - ANSWER-No one
16. It would be a violation of the antitrust laws for a broker to: a) charge one owner 7% while
charging another 6%. - ANSWER-agree to a minimum commission with other brokers
17. The building leases prohibit tenants from altering the property in any way. One tenant is now
confined to a wheelchair, and cannot maneuver over the doorstep into the apartment by herself.
Nor can she use the bathroom facilities in her wheelchair. Which of the following is true? -
ANSWER-The tenant is entitled to make the necessary alterations.
