ILLINOIS LEASING AGENT EXAM PREP COMPLETE 180 QUESTIONS
AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |100%
GUARANTEED PASS!!
the leasing agent license shall expire on July 31st of: - (Answer) -even numbered years
sponsoring brokers must submit the 45 day sponsor card to IDFPR within: -
(Answer) -24 hours of employment
leasing agent licensees must complete how many hours of containing education
during the 24 month period prior renewal: - (Answer) -8 hours of continuing
education
The real estate recovery fund is: - (Answer) -a fund at IDFPR to reimburse persons
who suffer loss due to a licensees actions.
The general requirements for a residential leasing agent to obtain a license include: -
(Answer) -applicant must be 18 years of age, must have a highschool diploma or
GED, must have a sponsoring broker or firm.
True or False; All licensed agents must be sponsored by a sponsored broker or firm? -
(Answer) -true
True or False; Leasing agents must be 21 years of age and only engage in the sale of
residential property? - (Answer) -false
Disciplinary actions for leasing agents: - (Answer) -Shall conform with disciplainary
actions for licensed real estate brokers
An applicant shall not practice as a student leasing agent _____________. - (Answer)
-more than once in a 24 month period.
,Which of the following is true about sponsor cards?
a-sponsor cards are only issued for residential leasing agents
b-all sponsor cards are issued by IDFPR
c- It is a temporary 45 day permit issued by the sponsoring broker
d-it is a 180day student permit - (Answer) -c
The real estate recovery fund is maintained by IDFPR, who is eligible to collect
damages from this account? - (Answer) -Any person who suffered a loss based on a
licensees conduct.
How many times can a person take the state licensing exam before they have to repeat
the course again? - (Answer) -4 times
the IDFPR requires escrow records to be maintained by the sponsoring broker: -
(Answer) -5 years
When must escrow money be deposited by the sponsoring broker? - (Answer) -No
later than the next business day following the transaction.
Where is the original license for a leasing agent kept? - (Answer) -In the sponsoring
brokers principal office
Mary is sponsoring broker, she was found guilty of a license act violation. Her license
was suspended. What is the status of the licenses that were sponsored by Mary? -
(Answer) -All sponsored licensees immediately go into inactive status.
, Which of the following is not a blind ad? - (Answer) -An advertisement for rental
property with the brokerage company name and phone number listed on the ad.
A licensee seeking an apartment encountered discrimination based on his age. Which
one of the following statements is correct regarding the real estate recovery fund?
a- the licensee may not file a complaint with IDFPR because of the real estate
recovery fund is for members of the general public and not licensees.
b- the licensee may not file a complaint because there is no witness to the
discrimination when the licensee claims that discrimination took place
c-the licensee may file a complaint and a hearing will be conducted by IDFPR to
determine if any discrimination took place
d- the licensee may file a complaint with IDFPR because the discrimination took
place five years ago and the case was opened within the required time period. -
(Answer) -c
A licensee owns 1% of a residential property that is being advertised for rent. What is
the maximum amount of ownership that a license you can have any property before
disclosure is required? - (Answer) -There is no minimum or maximum percentage of
ownership that is required.
A student leasing agent was hired on January 15. The sponsoring broker did not
complete the 120 day student permit until January 30. When does the 120 day period
begin? - (Answer) -The permit begins the day of the sponsoring broker completes the
120 day permit online and IDFPR.
A sponsor card can be issued by a sponsoring broker to a student after they pass the
state exam. Which license category does the sponsor card apply to? - (Answer) -
Leasing agents, brokers, and managing brokers.
AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |100%
GUARANTEED PASS!!
the leasing agent license shall expire on July 31st of: - (Answer) -even numbered years
sponsoring brokers must submit the 45 day sponsor card to IDFPR within: -
(Answer) -24 hours of employment
leasing agent licensees must complete how many hours of containing education
during the 24 month period prior renewal: - (Answer) -8 hours of continuing
education
The real estate recovery fund is: - (Answer) -a fund at IDFPR to reimburse persons
who suffer loss due to a licensees actions.
The general requirements for a residential leasing agent to obtain a license include: -
(Answer) -applicant must be 18 years of age, must have a highschool diploma or
GED, must have a sponsoring broker or firm.
True or False; All licensed agents must be sponsored by a sponsored broker or firm? -
(Answer) -true
True or False; Leasing agents must be 21 years of age and only engage in the sale of
residential property? - (Answer) -false
Disciplinary actions for leasing agents: - (Answer) -Shall conform with disciplainary
actions for licensed real estate brokers
An applicant shall not practice as a student leasing agent _____________. - (Answer)
-more than once in a 24 month period.
,Which of the following is true about sponsor cards?
a-sponsor cards are only issued for residential leasing agents
b-all sponsor cards are issued by IDFPR
c- It is a temporary 45 day permit issued by the sponsoring broker
d-it is a 180day student permit - (Answer) -c
The real estate recovery fund is maintained by IDFPR, who is eligible to collect
damages from this account? - (Answer) -Any person who suffered a loss based on a
licensees conduct.
How many times can a person take the state licensing exam before they have to repeat
the course again? - (Answer) -4 times
the IDFPR requires escrow records to be maintained by the sponsoring broker: -
(Answer) -5 years
When must escrow money be deposited by the sponsoring broker? - (Answer) -No
later than the next business day following the transaction.
Where is the original license for a leasing agent kept? - (Answer) -In the sponsoring
brokers principal office
Mary is sponsoring broker, she was found guilty of a license act violation. Her license
was suspended. What is the status of the licenses that were sponsored by Mary? -
(Answer) -All sponsored licensees immediately go into inactive status.
, Which of the following is not a blind ad? - (Answer) -An advertisement for rental
property with the brokerage company name and phone number listed on the ad.
A licensee seeking an apartment encountered discrimination based on his age. Which
one of the following statements is correct regarding the real estate recovery fund?
a- the licensee may not file a complaint with IDFPR because of the real estate
recovery fund is for members of the general public and not licensees.
b- the licensee may not file a complaint because there is no witness to the
discrimination when the licensee claims that discrimination took place
c-the licensee may file a complaint and a hearing will be conducted by IDFPR to
determine if any discrimination took place
d- the licensee may file a complaint with IDFPR because the discrimination took
place five years ago and the case was opened within the required time period. -
(Answer) -c
A licensee owns 1% of a residential property that is being advertised for rent. What is
the maximum amount of ownership that a license you can have any property before
disclosure is required? - (Answer) -There is no minimum or maximum percentage of
ownership that is required.
A student leasing agent was hired on January 15. The sponsoring broker did not
complete the 120 day student permit until January 30. When does the 120 day period
begin? - (Answer) -The permit begins the day of the sponsoring broker completes the
120 day permit online and IDFPR.
A sponsor card can be issued by a sponsoring broker to a student after they pass the
state exam. Which license category does the sponsor card apply to? - (Answer) -
Leasing agents, brokers, and managing brokers.
