ILLINOIS LEASING AGENT EXAM PREP
EXAM SCRIPT 2026 COMPLETE QUESTIONS
AND CORRECT ANSWERS
◉ If you don't know an answer, what do you do? Answer: Ask your
managing broker.
◉ Max fine for unlicensed practice? Answer: $25,000.
◉ Can a leasing agent hold escrow? Answer: No.
◉ Who deposits escrow + when? Answer: Managing broker, within 48
hours.
◉ Escrow records kept how long? Answer: 5 years.
◉ Renewal date? Answer: July 31 of every even-numbered year.
◉ Who assigns properties to you? Answer: Sponsoring broker.
◉ Legal advice allowed? Answer: No.
◉ Can leasing agent negotiate rent? Answer: Yes, if licensed.
EXAM SCRIPT 2026 COMPLETE QUESTIONS
AND CORRECT ANSWERS
◉ If you don't know an answer, what do you do? Answer: Ask your
managing broker.
◉ Max fine for unlicensed practice? Answer: $25,000.
◉ Can a leasing agent hold escrow? Answer: No.
◉ Who deposits escrow + when? Answer: Managing broker, within 48
hours.
◉ Escrow records kept how long? Answer: 5 years.
◉ Renewal date? Answer: July 31 of every even-numbered year.
◉ Who assigns properties to you? Answer: Sponsoring broker.
◉ Legal advice allowed? Answer: No.
◉ Can leasing agent negotiate rent? Answer: Yes, if licensed.