ILLINOIS
REAL ESTATE
LEASING AGENT EXAM
Comprehensive Study Guide & Test Bank
100 Questions with Answer Choices A, B, C & D • Full Answer Key at End
Real Property • Types of Leases • Illinois Lease Law & Security Deposits
Property Management • Fair Housing Laws • Illinois License Law
For educational use only • All rights reserved
,ILLINOIS REAL ESTATE LEASING AGENT EXAM Study Guide & Test Bank
SECTION 1: REAL PROPERTY & PERSONAL PROPERTY
Q1. One defining difference between real estate (real property) and personal property is that real estate
includes:
A. Land and the rights and interests inherent in the ownership of land, while personal property includes only air
and mineral rights
B. The trees and air rights, while personal property includes the house and its contents
C. Land and all things permanently attached, while personal property includes property that is movable
D. Annual crops, while personal property includes mineral rights
Q2. A bookstore owner rents space in a commercial building. The bookstore has large tables fastened to
the walls where customers are encouraged to sit and read. Shelves create aisles from the front of the
store to the back. The shelves are bolted to both the ceiling and the floor. Which of these BEST
characterizes these tables and shelves?
A. The shelves and the tables are trade fixtures and will be sold when the owner sells the building
B. The shelves and the tables are trade fixtures and must be removed before the bookstore's lease expires; the
tenant is responsible to the landlord for any damage that their removal causes to the premises
C. Because the bookstore is a tenant, the shelves and the tables are fixtures and may not be removed, except
with the owner's permission
D. Because the shelves and the tables are attached to the building, they are treated the same way as other
fixtures
Q3. Which of these is considered the MOST important characteristic of land?
A. Air rights
B. Permanence
C. Subsurface rights
D. Location
Q4. Another term for personal property is:
A. Fixtures
B. Realty
C. Chattels
D. Fructus naturales
Q5. When an owner of real estate sells the property to someone else, which of the 'sticks' in the bundle of
legal rights is she using?
A. Exclusion
B. Legal enjoyment
C. Control
D. Disposition
Q6. A man inherited a farm from his uncle. As a new owner, the first thing he did with the vacant property
was to remove all the topsoil, which he sold to a landscaping company. He then removed a thick layer of
limestone and sold it to a construction company. Finally, he dug 40 feet into the bedrock and sold it for
gravel. When the farm owner died, he left the farm to his daughter. Which of these statements is TRUE?
A. The daughter inherits nothing because the farm no longer exists
B. The daughter owns the gravel, limestone, and topsoil, no matter where it is
C. The daughter inherits a large hole in the ground, but it is still a farm, down to the center of the earth
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, ILLINOIS REAL ESTATE LEASING AGENT EXAM Study Guide & Test Bank
D. The man's estate must restore the land to its original condition
Q7. The buyer and the seller of a home are debating whether a certain item is real or personal property. In
determining whether an item is real or personal property, a court would NOT consider:
A. Whether its removal would cause severe damage to the real estate
B. Whether the item is clearly adapted to the real estate
C. The cost of the item when it was purchased
D. Any relevant agreement of the parties in their contract
Q8. Which of these BEST describes the economic characteristics of real estate?
A. Scarcity, improvements, and location
B. Location, uniqueness, and indestructibility
C. Scarcity, immobility, and improvements
D. Attachment, location, and improvements
Q9. An owner decides to sell her house and takes the antique front door with her when she moves. In the
absence of any provision in the contract, is the owner allowed to remove the door?
A. No. This act of severance is not allowed at time of selling because the door is a fixture
B. Yes, the owner can remove the door, and the act is called accession
C. No, this is conversion
D. Yes, the owner can remove the door, and the act is called separation
Q10. When moving into a newly purchased home, the buyer discovered that the seller had taken the
electric lighting units that were installed over the vanity in the bathroom. The seller had not indicated in
the sales contract that these would be removed. Which of these is TRUE?
A. The lighting fixtures belong to the seller because he installed them as personal property
B. These lighting fixtures are considered trade fixtures and could be removed
C. Installed lighting units normally are considered real estate fixtures
D. Original lighting fixtures are real property, but replacement lighting fixtures are personal property and can be
taken by the seller
Q11. A homeowner is building a new enclosed front porch on his home. A truckload of lumber has been
left in his driveway for use in building the porch. At this point, the lumber is considered:
A. A fixture, because it will be permanently affixed to existing real property
B. Personal property
C. A chattel that is real property
D. A trade fixture or a chattel fixture
Q12. Intent of the parties, method of attachment, adaptation to real estate, and agreement between the
parties are the legal tests for determining whether an item is:
A. A fixture or personal property
B. A trade fixture or personal property
C. Real property or real estate
D. An improvement
Q13. Parking spaces in multi-unit buildings, water rights, and other improvements are classified as:
A. Trade fixtures
B. Emblements
C. Subsurface rights
—3—
REAL ESTATE
LEASING AGENT EXAM
Comprehensive Study Guide & Test Bank
100 Questions with Answer Choices A, B, C & D • Full Answer Key at End
Real Property • Types of Leases • Illinois Lease Law & Security Deposits
Property Management • Fair Housing Laws • Illinois License Law
For educational use only • All rights reserved
,ILLINOIS REAL ESTATE LEASING AGENT EXAM Study Guide & Test Bank
SECTION 1: REAL PROPERTY & PERSONAL PROPERTY
Q1. One defining difference between real estate (real property) and personal property is that real estate
includes:
A. Land and the rights and interests inherent in the ownership of land, while personal property includes only air
and mineral rights
B. The trees and air rights, while personal property includes the house and its contents
C. Land and all things permanently attached, while personal property includes property that is movable
D. Annual crops, while personal property includes mineral rights
Q2. A bookstore owner rents space in a commercial building. The bookstore has large tables fastened to
the walls where customers are encouraged to sit and read. Shelves create aisles from the front of the
store to the back. The shelves are bolted to both the ceiling and the floor. Which of these BEST
characterizes these tables and shelves?
A. The shelves and the tables are trade fixtures and will be sold when the owner sells the building
B. The shelves and the tables are trade fixtures and must be removed before the bookstore's lease expires; the
tenant is responsible to the landlord for any damage that their removal causes to the premises
C. Because the bookstore is a tenant, the shelves and the tables are fixtures and may not be removed, except
with the owner's permission
D. Because the shelves and the tables are attached to the building, they are treated the same way as other
fixtures
Q3. Which of these is considered the MOST important characteristic of land?
A. Air rights
B. Permanence
C. Subsurface rights
D. Location
Q4. Another term for personal property is:
A. Fixtures
B. Realty
C. Chattels
D. Fructus naturales
Q5. When an owner of real estate sells the property to someone else, which of the 'sticks' in the bundle of
legal rights is she using?
A. Exclusion
B. Legal enjoyment
C. Control
D. Disposition
Q6. A man inherited a farm from his uncle. As a new owner, the first thing he did with the vacant property
was to remove all the topsoil, which he sold to a landscaping company. He then removed a thick layer of
limestone and sold it to a construction company. Finally, he dug 40 feet into the bedrock and sold it for
gravel. When the farm owner died, he left the farm to his daughter. Which of these statements is TRUE?
A. The daughter inherits nothing because the farm no longer exists
B. The daughter owns the gravel, limestone, and topsoil, no matter where it is
C. The daughter inherits a large hole in the ground, but it is still a farm, down to the center of the earth
—2—
, ILLINOIS REAL ESTATE LEASING AGENT EXAM Study Guide & Test Bank
D. The man's estate must restore the land to its original condition
Q7. The buyer and the seller of a home are debating whether a certain item is real or personal property. In
determining whether an item is real or personal property, a court would NOT consider:
A. Whether its removal would cause severe damage to the real estate
B. Whether the item is clearly adapted to the real estate
C. The cost of the item when it was purchased
D. Any relevant agreement of the parties in their contract
Q8. Which of these BEST describes the economic characteristics of real estate?
A. Scarcity, improvements, and location
B. Location, uniqueness, and indestructibility
C. Scarcity, immobility, and improvements
D. Attachment, location, and improvements
Q9. An owner decides to sell her house and takes the antique front door with her when she moves. In the
absence of any provision in the contract, is the owner allowed to remove the door?
A. No. This act of severance is not allowed at time of selling because the door is a fixture
B. Yes, the owner can remove the door, and the act is called accession
C. No, this is conversion
D. Yes, the owner can remove the door, and the act is called separation
Q10. When moving into a newly purchased home, the buyer discovered that the seller had taken the
electric lighting units that were installed over the vanity in the bathroom. The seller had not indicated in
the sales contract that these would be removed. Which of these is TRUE?
A. The lighting fixtures belong to the seller because he installed them as personal property
B. These lighting fixtures are considered trade fixtures and could be removed
C. Installed lighting units normally are considered real estate fixtures
D. Original lighting fixtures are real property, but replacement lighting fixtures are personal property and can be
taken by the seller
Q11. A homeowner is building a new enclosed front porch on his home. A truckload of lumber has been
left in his driveway for use in building the porch. At this point, the lumber is considered:
A. A fixture, because it will be permanently affixed to existing real property
B. Personal property
C. A chattel that is real property
D. A trade fixture or a chattel fixture
Q12. Intent of the parties, method of attachment, adaptation to real estate, and agreement between the
parties are the legal tests for determining whether an item is:
A. A fixture or personal property
B. A trade fixture or personal property
C. Real property or real estate
D. An improvement
Q13. Parking spaces in multi-unit buildings, water rights, and other improvements are classified as:
A. Trade fixtures
B. Emblements
C. Subsurface rights
—3—
