ILLINOIS ACE ABLE AGENT Exam
Questions and Answers Latest Version
Top Rated
Question 1
Grounds for discipline under the Real Estate License Act of 2000
include
a. representing a broker other than the sponsoring broker.
b. disclosing dual agency.
c. advertising the sponsoring broker's name in the
advertisement.
d. maintaining an escrow account to hold earnest money
deposits.
Correct Answer
a. representing a broker other than the sponsoring broker.
Question 2
In Illinois, which of these must be disclosed?
a. Stigmatized property
b. Dual agency
c. Registered sex offenders
d. Single agency
Correct Answer
b. Dual agency
Question 3
Arthur, a listing agent, is holding an open house for his client.
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,Ivonne, enters the open house and likes it. She begins to ask
questions about how much she should offer and what her best
negotiation tactics would be. Arthur is happy to answer all of her
questions. In this situation, which of the following is TRUE?
a. Arthur should do what's necessary to make the deal happen.
b. Since Ivonne verbally said she'd like help, Arthur should
answer all her questions.
c. As long as Arthur has given Ivonne a Disclosure of No
Agency, he should be fine.
d. Arthur is acting as an undisclosed dual agent.
Correct Answer
d. Arthur is acting as an undisclosed dual agent.
Question 4
Residential structures constructed prior to which year require
lead-based paint disclosure?
a. 1958
b. 1978
c. 1948
d. 1968
Correct Answer
b. 1978
Question 5
In Illinois, when a tenant is in default only for the failure to pay
rent on time, how much written notice is a landlord required to
give before terminating the lease?
a. 0 days
b. 3 days
c. 5 days
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, d. 10 days
Correct Answer
c. 5 days
Question 6
Under what circumstances, according to the Illinois Human Rights
Act, may a religious organization only rent or sell to those of the
same religion?
a. Only if such religious membership is not restricted by race,
color or national origin.
b. Only when the membership is approved by the Act.
c. Only when given written permission by the IDFPR.
d. Under no circumstances.
Correct Answer
a. Only if such religious membership is not restricted by race,
color or national origin.
Question 7
At what age is a person considered elderly under the Illinois
Human Rights Act?
a. Over 62
b. Over 55
c. Over 40
d. Over 45
Correct Answer
c. Over 40
Question 8
When a broker passes the license examination, the first proof of
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Questions and Answers Latest Version
Top Rated
Question 1
Grounds for discipline under the Real Estate License Act of 2000
include
a. representing a broker other than the sponsoring broker.
b. disclosing dual agency.
c. advertising the sponsoring broker's name in the
advertisement.
d. maintaining an escrow account to hold earnest money
deposits.
Correct Answer
a. representing a broker other than the sponsoring broker.
Question 2
In Illinois, which of these must be disclosed?
a. Stigmatized property
b. Dual agency
c. Registered sex offenders
d. Single agency
Correct Answer
b. Dual agency
Question 3
Arthur, a listing agent, is holding an open house for his client.
Page 1 of 21
,Ivonne, enters the open house and likes it. She begins to ask
questions about how much she should offer and what her best
negotiation tactics would be. Arthur is happy to answer all of her
questions. In this situation, which of the following is TRUE?
a. Arthur should do what's necessary to make the deal happen.
b. Since Ivonne verbally said she'd like help, Arthur should
answer all her questions.
c. As long as Arthur has given Ivonne a Disclosure of No
Agency, he should be fine.
d. Arthur is acting as an undisclosed dual agent.
Correct Answer
d. Arthur is acting as an undisclosed dual agent.
Question 4
Residential structures constructed prior to which year require
lead-based paint disclosure?
a. 1958
b. 1978
c. 1948
d. 1968
Correct Answer
b. 1978
Question 5
In Illinois, when a tenant is in default only for the failure to pay
rent on time, how much written notice is a landlord required to
give before terminating the lease?
a. 0 days
b. 3 days
c. 5 days
Page 2 of 21
, d. 10 days
Correct Answer
c. 5 days
Question 6
Under what circumstances, according to the Illinois Human Rights
Act, may a religious organization only rent or sell to those of the
same religion?
a. Only if such religious membership is not restricted by race,
color or national origin.
b. Only when the membership is approved by the Act.
c. Only when given written permission by the IDFPR.
d. Under no circumstances.
Correct Answer
a. Only if such religious membership is not restricted by race,
color or national origin.
Question 7
At what age is a person considered elderly under the Illinois
Human Rights Act?
a. Over 62
b. Over 55
c. Over 40
d. Over 45
Correct Answer
c. Over 40
Question 8
When a broker passes the license examination, the first proof of
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