ILLINOIS LEASING AGENT PREP
COMPREHENSIVE STUDY GUIDE 2026
FULL QUESTIONS AND SOLUTIONS
GRADED A+
◍ Emblements.
Answer: Refers to crops which require annual planting.
◍ Executed Contract.
Answer: one in which all parties have fulfilled their promises; the contract
has been performed
◍ A leasing agents original, active license should be kept in what location?.
Answer: The sponsoring broker's office.
◍ Agency can be terminated by.
Answer: Expiration of the term of the agreement, destruction of the
property, fulfillment of the agreement
◍ Radon and meth were added to which of the following;.
Answer: residential real property disclousure act
◍ Commission rates for properties listed for sale are set by :.
Answer: Mutual agreement between the broker and the seller
◍ compensation.
Answer: something of value ($$$)
◍ leasing agent licensees must complete how many hours of containing
education during the 24 month period prior renewal:.
Answer: 8 hours of continuing education
◍ Familial status refers to:.
, Answer: An adult with persons under the age of 18, a pregnant person, one
who has custody or is in the process of custody of a person under 18
◍ Dual agency occurs when a broker;.
Answer: Represents both the buyer and seller in the same transaction
◍ Right of First Refusal (ROFR).
Answer: It allows the tenant the opportunity to buy the property before the
owner accepts an offer from another party.
◍ What is an Index Lease?.
Answer: A lease that allows rent to be increased or decreased periodically
based on changes in the consumer price index or some other economic
indicator.
◍ Lease Purchase.
Answer: A type of lease used when a tenet wants to purchase the property
but is currently unable to do so, due to lack of financing or problems with
the title. The purchase agreement is primary and the lease is secondary.
◍ Disciplinary actions for leasing agents:.
Answer: Shall conform with disciplainary actions for licensed real estate
brokers
◍ the leasing agent license shall expire on July 31st of:.
Answer: even numbered years
◍ The statement "we have a no pet rule and that includes your guide dog" is
discriminatory based on:.
Answer: Fair housing amendment act of 1988
◍ A licensee are selling their own home must include the following in their
advertisement:.
Answer: Agent owned or broker owned
◍ Attachment.
Answer: Personal property that "turns into" real property does so by
attachment
, ◍ Tie-In Agreements.
Answer: Agreements to sell one product only if the buyer purchases another
product as well. This is illegal under antitrust laws.
◍ What is part of the essential elements to a contract.
Answer: Offer and acceptance
◍ The Illinois human rights act included each protection for individuals over
which age.
Answer: 40
◍ Cash Rent.
Answer: Agreed-on rental amount in cash in advance; one of two ways
forms of payment to a landowner
◍ Rental-Finding Service.
Answer: Any business that finds, attempts to find, or offers to find for any
person for consideration a unit of rental real estate or a lessee for a unit of
rental real estate not owned or leased by the business.
◍ How many times can a person take the state licensing exam before they have
to repeat the course again?.
Answer: 4 times
◍ Nondisturbance Clause.
Answer: A mortgage clause that states the mortgagee agrees not to terminate
the tenancies of the lessees in the event the mortgagee forecloses on the
mortgagor-lessor's building.
◍ A tenant was given an option to renew by the landlord. Later the landlord
decides to revoke the option. what can be done?.
Answer: Tenant can sue the landlord for performance of the lease
◍ Consideration.
Answer: Something of legal value offered by one party and accepted by
another as an inducement to perform or to refrain from performing some act.
◍ Deed.
COMPREHENSIVE STUDY GUIDE 2026
FULL QUESTIONS AND SOLUTIONS
GRADED A+
◍ Emblements.
Answer: Refers to crops which require annual planting.
◍ Executed Contract.
Answer: one in which all parties have fulfilled their promises; the contract
has been performed
◍ A leasing agents original, active license should be kept in what location?.
Answer: The sponsoring broker's office.
◍ Agency can be terminated by.
Answer: Expiration of the term of the agreement, destruction of the
property, fulfillment of the agreement
◍ Radon and meth were added to which of the following;.
Answer: residential real property disclousure act
◍ Commission rates for properties listed for sale are set by :.
Answer: Mutual agreement between the broker and the seller
◍ compensation.
Answer: something of value ($$$)
◍ leasing agent licensees must complete how many hours of containing
education during the 24 month period prior renewal:.
Answer: 8 hours of continuing education
◍ Familial status refers to:.
, Answer: An adult with persons under the age of 18, a pregnant person, one
who has custody or is in the process of custody of a person under 18
◍ Dual agency occurs when a broker;.
Answer: Represents both the buyer and seller in the same transaction
◍ Right of First Refusal (ROFR).
Answer: It allows the tenant the opportunity to buy the property before the
owner accepts an offer from another party.
◍ What is an Index Lease?.
Answer: A lease that allows rent to be increased or decreased periodically
based on changes in the consumer price index or some other economic
indicator.
◍ Lease Purchase.
Answer: A type of lease used when a tenet wants to purchase the property
but is currently unable to do so, due to lack of financing or problems with
the title. The purchase agreement is primary and the lease is secondary.
◍ Disciplinary actions for leasing agents:.
Answer: Shall conform with disciplainary actions for licensed real estate
brokers
◍ the leasing agent license shall expire on July 31st of:.
Answer: even numbered years
◍ The statement "we have a no pet rule and that includes your guide dog" is
discriminatory based on:.
Answer: Fair housing amendment act of 1988
◍ A licensee are selling their own home must include the following in their
advertisement:.
Answer: Agent owned or broker owned
◍ Attachment.
Answer: Personal property that "turns into" real property does so by
attachment
, ◍ Tie-In Agreements.
Answer: Agreements to sell one product only if the buyer purchases another
product as well. This is illegal under antitrust laws.
◍ What is part of the essential elements to a contract.
Answer: Offer and acceptance
◍ The Illinois human rights act included each protection for individuals over
which age.
Answer: 40
◍ Cash Rent.
Answer: Agreed-on rental amount in cash in advance; one of two ways
forms of payment to a landowner
◍ Rental-Finding Service.
Answer: Any business that finds, attempts to find, or offers to find for any
person for consideration a unit of rental real estate or a lessee for a unit of
rental real estate not owned or leased by the business.
◍ How many times can a person take the state licensing exam before they have
to repeat the course again?.
Answer: 4 times
◍ Nondisturbance Clause.
Answer: A mortgage clause that states the mortgagee agrees not to terminate
the tenancies of the lessees in the event the mortgagee forecloses on the
mortgagor-lessor's building.
◍ A tenant was given an option to renew by the landlord. Later the landlord
decides to revoke the option. what can be done?.
Answer: Tenant can sue the landlord for performance of the lease
◍ Consideration.
Answer: Something of legal value offered by one party and accepted by
another as an inducement to perform or to refrain from performing some act.
◍ Deed.
