Illinois Security Contractor Licensing Actual Exam
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A ground lease is usually - Answer-long term
A tenant enters into a commercial lease that requires a
monthly rent based on a minimum set amount plus an
additional amount determined by the tenant's gross
receipts exceeding $5,000. This type of lease is called -
Answer-percentage lease
If a tenant moved out of a rented store building because
access to the building was blocked as a result of the
landlord's negligence, the - Answer-tenant would be
entitled to recover damages from the landlord
A tenant signs a lease that includes a schedule of rent
increases on specific dates over the course of the term.
What type of lease has the tenant signed? - Answer-
graduated
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A tenant still has five months remaining on a one-year
apartment lease. When the tenant moves to another city,
she transfers possession of the apartment to a friend for
the entire remaining term of the lease. The friend pays rent
directly to the tenant. In this situation, the tenant has
become - Answer-a sublessor
A tenant's lease has expired. The tenant has neither
vacated the premise nor negotiated a renewal lease, and
the landlord has declared that she does not want the
tenant to remain in the building. This form of possession is
called - Answer-an estate at sufferance
A tenant's tenancy for years will expire in two weeks. The
tenant plans to move to a larger apartment across town
when the current tenancy expires. What must the tenant
do to terminate the agreement? - Answer-The tenant
needs to do nothing; the agreement will terminate
automatically
When a tenant holds possession of a landlord's property
without a current lease agreement and without the
landlord's approval, the - Answer-landlord can file suit for
possession
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Under the negotiated terms of a certain residential lease,
the landlord is required to maintain the water heater. If the
tenant is unable to get hot water because of a faulty water
heater that the landlord has failed to repair after repeated
notification, which remedy would be available to the
tenant? - Answer-abandoning the premise under
constructive eviction
A person has a one-year leasehold interest in a house.
The interest automatically renews itself at the end of each
year. The person's interest is called a tenancy - Answer-
from period to period
What is rent? - Answer-consideration for the use of real
property
A net lease is - Answer-a lease in which the tenant pays
rent plus maintenance and property charges
A commercial lease calls for a minimum rent of $1,200 per
month plus 4% of the annual gross business exceeding
$150,000. If the total rent paid at the end of one year was
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$19,200, how much business did the tenant do during the
year? - Answer-$270,000
In Illinois, which of these statements is TRUE regarding a
lease for more than one year? - Answer-The lease must
be in writing and signed to be enforceable in court
Which does not appear on an agency employees ID card?
- Answer-The expiration date of the ID card which is 3 yrs
from the date of issuance
If person is found guilty of the crime of commercial bribery
under $500,000, the penalty is? - Answer-Class A
misdemeanor and a fine not to exceed $5,000
Who is charged with selecting the Chief Justice of the
Illinois Supreme Court? - Answer-Illinois Supreme Court
Justices
Which of the following could result in disciplinary action
against an employee of a licensed agency? - Answer-The
armed employee traveled over an hour from the
employee's home to his or her place of employment