Illinois Leasing Agent Practice Actual
Exam Latest Update 2025 Questions
and Correct Answers Rated A+
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
14. When a tenant, who has a written lease with the owner, sublets all
or any part of the premises: -Answer-the original lease is unaffected
unless it contains a provision that prohibits such subletting.
, 15. Which of the following people may discriminate on the basis of
race? -Answer-No one
16. It would be a violation of the antitrust laws for a broker to: a)
charge one owner 7% while charging another 6%. -Answer-agree to a
minimum commission with other brokers
17. The building leases prohibit tenants from altering the property in
any way. One tenant is now confined to a wheelchair, and cannot
maneuver over the doorstep into the apartment by herself. Nor can
she use the bathroom facilities in her wheelchair. Which of the
following is true? -Answer-The tenant is entitled to make the
necessary alterations.
18. Which of the following is illegal? -Answer-Refusing to hire an
otherwise qualified person because a disability will necessitate
occasional time off work.
19. The amount of security deposit in a contract for the lease of real
property is determined by: -Answer-Agreement of the parties.
20. Broker Doug has an office in Chicago. A licensee with Broker
Doug is the designated agent of the owner. Another licensee with
Broker Doug is the designated agent of the renter. Which of the
following statements is true? -Answer-In Illinois, this situation avoids
dual agency for the broker.
21. A licensed agent selling or leasing his own home without using his
broker's services may discriminate on the basis of: -Answer-Non of
the above
Exam Latest Update 2025 Questions
and Correct Answers Rated A+
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
14. When a tenant, who has a written lease with the owner, sublets all
or any part of the premises: -Answer-the original lease is unaffected
unless it contains a provision that prohibits such subletting.
, 15. Which of the following people may discriminate on the basis of
race? -Answer-No one
16. It would be a violation of the antitrust laws for a broker to: a)
charge one owner 7% while charging another 6%. -Answer-agree to a
minimum commission with other brokers
17. The building leases prohibit tenants from altering the property in
any way. One tenant is now confined to a wheelchair, and cannot
maneuver over the doorstep into the apartment by herself. Nor can
she use the bathroom facilities in her wheelchair. Which of the
following is true? -Answer-The tenant is entitled to make the
necessary alterations.
18. Which of the following is illegal? -Answer-Refusing to hire an
otherwise qualified person because a disability will necessitate
occasional time off work.
19. The amount of security deposit in a contract for the lease of real
property is determined by: -Answer-Agreement of the parties.
20. Broker Doug has an office in Chicago. A licensee with Broker
Doug is the designated agent of the owner. Another licensee with
Broker Doug is the designated agent of the renter. Which of the
following statements is true? -Answer-In Illinois, this situation avoids
dual agency for the broker.
21. A licensed agent selling or leasing his own home without using his
broker's services may discriminate on the basis of: -Answer-Non of
the above
