ILLINOIS LEASING AGENT PRACTICE TEST EXAM
COMPLETE 50 QUESTIONS WITH PROFESSOR
VERIFIED SOLUTIONS
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
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.
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
COMPLETE 50 QUESTIONS WITH PROFESSOR
VERIFIED SOLUTIONS
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
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.
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
