Illinois Leasing agent exam prep
Questions and Answers All Verified.
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 reimburse persons who suffer
loss due to a licensee’s actions.
The general requirements for a residential leasing agent to obtain a license include: - Answer
applicant must be 18 years of age, must have a high school diploma or GED, must have a
sponsoring broker or firm.
True or False; All licensed agents must be sponsored by a sponsored broker or firm? - Answer
true
True or False; Leasing agents must be 21 years of age and only engage in the sale of residential
property? - Answer false
Disciplinary actions for leasing agents: - Answer Shall conform with disciplainary actions for
licensed real estate brokers
An applicant shall not practice as a student leasing agent _____________. - Answer more
than once in a 24 month period.
Which of the following is true about sponsor cards?
a-sponsor cards are only issued for residential leasing agents
b-all sponsor cards are issued by IDFPR
c- It is a temporary 45 day permit issued by the sponsoring broker
d-it is a 180day student permit - Answer c
, The real estate recovery fund is maintained by IDFPR, who is eligible to collect damages from
this account? - Answer Any person who suffered a loss based on a licensees conduct.
How many times can a person take the state licensing exam before they have to repeat the
course again? - Answer 4 times
the IDFPR requires escrow records to be maintained by the sponsoring broker: - Answer 5
years
When must escrow money be deposited by the sponsoring broker? - Answer No later than
the next business day following the transaction.
Where is the original license for a leasing agent kept? - Answer In the sponsoring brokers
principal office
Mary is sponsoring broker, she was found guilty of a license act violation. Her license was
suspended. What is the status of the licenses that were sponsored by Mary? - Answer All
sponsored licensees immediately go into inactive status.
Which of the following is not a blind ad? - Answer An advertisement for rental property with
the brokerage company name and phone number listed on the ad.
A licensee seeking an apartment encountered discrimination based on his age. Which one of
the following statements is correct regarding the real estate recovery fund?
a- the licensee may not file a complaint with IDFPR because of the real estate recovery fund is
for members of the general public and not licensees.
b- the licensee may not file a complaint because there is no witness to the discrimination when
the licensee claims that discrimination took place
c-the licensee may file a complaint and a hearing will be conducted by IDFPR to determine if any
discrimination took place
d- the licensee may file a complaint with IDFPR because the discrimination took place five years
ago and the case was opened within the required time period. - Answer c
A licensee owns 1% of a residential property that is being advertised for rent. What is the
maximum amount of ownership that a license you can have any property before disclosure is
required? - Answer There is no minimum or maximum percentage of ownership that is
required.
A student leasing agent was hired on January 15. The sponsoring broker did not complete the
120 day student permit until January 30. When does the 120 day period begin? - Answer The
permit begins the day of the sponsoring broker completes the 120 day permit online and IDFPR.
Questions and Answers All Verified.
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 reimburse persons who suffer
loss due to a licensee’s actions.
The general requirements for a residential leasing agent to obtain a license include: - Answer
applicant must be 18 years of age, must have a high school diploma or GED, must have a
sponsoring broker or firm.
True or False; All licensed agents must be sponsored by a sponsored broker or firm? - Answer
true
True or False; Leasing agents must be 21 years of age and only engage in the sale of residential
property? - Answer false
Disciplinary actions for leasing agents: - Answer Shall conform with disciplainary actions for
licensed real estate brokers
An applicant shall not practice as a student leasing agent _____________. - Answer more
than once in a 24 month period.
Which of the following is true about sponsor cards?
a-sponsor cards are only issued for residential leasing agents
b-all sponsor cards are issued by IDFPR
c- It is a temporary 45 day permit issued by the sponsoring broker
d-it is a 180day student permit - Answer c
, The real estate recovery fund is maintained by IDFPR, who is eligible to collect damages from
this account? - Answer Any person who suffered a loss based on a licensees conduct.
How many times can a person take the state licensing exam before they have to repeat the
course again? - Answer 4 times
the IDFPR requires escrow records to be maintained by the sponsoring broker: - Answer 5
years
When must escrow money be deposited by the sponsoring broker? - Answer No later than
the next business day following the transaction.
Where is the original license for a leasing agent kept? - Answer In the sponsoring brokers
principal office
Mary is sponsoring broker, she was found guilty of a license act violation. Her license was
suspended. What is the status of the licenses that were sponsored by Mary? - Answer All
sponsored licensees immediately go into inactive status.
Which of the following is not a blind ad? - Answer An advertisement for rental property with
the brokerage company name and phone number listed on the ad.
A licensee seeking an apartment encountered discrimination based on his age. Which one of
the following statements is correct regarding the real estate recovery fund?
a- the licensee may not file a complaint with IDFPR because of the real estate recovery fund is
for members of the general public and not licensees.
b- the licensee may not file a complaint because there is no witness to the discrimination when
the licensee claims that discrimination took place
c-the licensee may file a complaint and a hearing will be conducted by IDFPR to determine if any
discrimination took place
d- the licensee may file a complaint with IDFPR because the discrimination took place five years
ago and the case was opened within the required time period. - Answer c
A licensee owns 1% of a residential property that is being advertised for rent. What is the
maximum amount of ownership that a license you can have any property before disclosure is
required? - Answer There is no minimum or maximum percentage of ownership that is
required.
A student leasing agent was hired on January 15. The sponsoring broker did not complete the
120 day student permit until January 30. When does the 120 day period begin? - Answer The
permit begins the day of the sponsoring broker completes the 120 day permit online and IDFPR.
