ILLINOIS LEASING AGENT EXAM PREP
COMPREHENSIVE REVIEW 2026 FULL
QUESTIONS AND VERIFIED ANSWERS
◉ 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
COMPREHENSIVE REVIEW 2026 FULL
QUESTIONS AND VERIFIED ANSWERS
◉ 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
