Illinois Leasing Agent Practice Exam / Expert
Strategies, Review of Key Quizzes, And Practice
Questions for Guaranteed Success / Newest
2025/2026
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.
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
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
apartments only on the first floor. Which of the following is true? - (ANSWER)The
rental agent should have inquired about the couple's preference for apartments.
10. On Tuesday, the agent received an offer and a check for security deposit from
a renter. The owner accepted and signed the lease at 11 am on Wednesday. The
agent must: - (ANSWER)deposit the money in his escrow account by the close of
business on Thursday.
11. The primary requirement of a contract would be: - (ANSWER)Offer and
acceptance
12. Because of the complexity of laws that affect real estate today, a property
manager should be familiar with all of the following EXCEPT: - (ANSWER)the
"Blue-Sky" laws.
13. If a complaint goes to the federal courts based on the Civil Rights Act of 1866,
the complaint would be that there was discrimination based on: - (ANSWER)Race
Strategies, Review of Key Quizzes, And Practice
Questions for Guaranteed Success / Newest
2025/2026
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.
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
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
apartments only on the first floor. Which of the following is true? - (ANSWER)The
rental agent should have inquired about the couple's preference for apartments.
10. On Tuesday, the agent received an offer and a check for security deposit from
a renter. The owner accepted and signed the lease at 11 am on Wednesday. The
agent must: - (ANSWER)deposit the money in his escrow account by the close of
business on Thursday.
11. The primary requirement of a contract would be: - (ANSWER)Offer and
acceptance
12. Because of the complexity of laws that affect real estate today, a property
manager should be familiar with all of the following EXCEPT: - (ANSWER)the
"Blue-Sky" laws.
13. If a complaint goes to the federal courts based on the Civil Rights Act of 1866,
the complaint would be that there was discrimination based on: - (ANSWER)Race
