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Exam (elaborations)

Illinois Real Estate Exam Questions With 100% Correct Answers 2026 Updated.
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April 2026

2025/2026

A+
In Illinois, the real estate license law is administered by the...? - Answer IDFPR (Bureau of Real Estate Professions) How are the nine members of the Real Estate Administration and Disciplinary Board Selected? - Answer By the governor What is the name given to the Illinois license laws under which brokers and salespeople practice? - Answer Real Estate License Act of 2000 After May 1, 2011, the new license categories are: - Answer Managing Broker and Broker Af...
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Exam (elaborations)

Illinois Aceable Agent Questions with All Correct Answers 2025-2026 Updated.
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April 2026

2025/2026

A+
A couple is married, and both are Illinois residents. If their co-owned home is sold to satisfy their unpaid credit card debts, what is the maximum the creditors will receive if the property sells for $165,000? a. $135,000 b. $157,500 c. Nothing d. $163,600 - Answer a. $135,000 Taxes levied on a property owner to pay for installation of sidewalks or sewers are called a. special excise taxes. b. ad valorem taxes. c. general assessments. d. special assessments. - Answer d. s...
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Exam (elaborations)

Illinois Leasing Agent Pre-License Terms Questions and Answers.
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April 2026

2025/2026

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Branch Office - Answer A Branch Office License is required for each office other than the sponsoring broker's principal place of business; Each Branch Office must have a Managing Broker who is appointed by the sponsoring broker Commingling - Answer Cannot commingle money/property of business or personal funds Continuing Education - Answer Must complete 6 hours of CE per year, minus the first renewal period; must be state or IDFPR approved Employment Agreement - Answ...
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Exam (elaborations)

Illinois Leasing Agent Pre-License Terms Questions and Answers.
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6

April 2026

2025/2026

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Branch Office - Answer A Branch Office License is required for each office other than the sponsoring broker's principal place of business; Each Branch Office must have a Managing Broker who is appointed by the sponsoring broker Commingling - Answer Cannot commingle money/property of business or personal funds Continuing Education - Answer Must complete 6 hours of CE per year, minus the first renewal period; must be state or IDFPR approved Employment Agreement - Answ...
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Exam (elaborations)

Chapter 16: Illinois Real Estate Licensing Law Questions and All Correct Answers.
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April 2026

2025/2026

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Real Estate Research and Education Fund - Answer used to promote real estate research and education at Illinois organizations and institutions of higher learning. Broker - Answer any individual, partnership, limited liability company (LLC), corporation or registered limited liability partnership other than a leasing agent who, for another and for compensation, whether in person or through any media or technology, or within the intention or expectation of receiving compensation, ei...
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Exam (elaborations)

Unit 14-Leasing Exam Questions All Solved.
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April 2026

2025/2026

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The Illinois Real Estate License Act allows landlords to pay a referral fee to tenants who refer a prospective tenant for a unit in the same building or complex - Answer True The Illinois Real Estate License Act allows landlords to pay a referral fee to tenants who refer a prospective tenant for a unit in the same building or complex - Answer True Activities of a leasing agent include leasing residential apartments and collection rents for the use of residential apartments - An...
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Exam (elaborations)

Leasing Final Test Questions with Guaranteed Pass Solutions 2026 Updated.
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April 2026

2025/2026

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1. The leasing agent license shall expire on July 31 of: a) Even numbered years b) Odd numbered years c) Each year d) Every three years - Answer A sponsoring brokers must submit the 45 day sponsor card to IDFPR within: a) 12 hours of employment b) 24 hours of employment c) 36 hours of employment d)48 hours of employment - Answer B Leasing agent licensees must complete how many hours of containing education during the 24 month period prior renewal: a) 12 hours of contin...
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Exam (elaborations)

Illinois Leasing Agent Exam Questions Answered Correctly.
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9

April 2026

2025/2026

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Personal Property - Answer Property that is movable and not affixed to or associated with the land; all property except real property. Chattels - Answer Items of personal property: including tangibles such as chairs, tables, clothing, money, bonds, bank accounts, including trade fixtures. Manufactured Housing - Answer Dwellings that are built off site and trucked to a building lot where they are installed or assembled. Emblements - Answer Refers to crops which re...
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Exam (elaborations)

Illinois Leasing agent exam prep Questions and Answers All Verified.
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April 2026

2025/2026

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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 licensee’s ...
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Exam (elaborations)

Illinois leasing agent chapter 2 Test Questions and Answers.
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April 2026

2025/2026

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Stigmatized property - Answer A property that has an undesirable reputation because a violent crime or suicide occurred in the property. Antitrust - Answer Laws designated to preserve the free enterprise of the open marketplace by forbidding certain private conspiracies and combinations created to minimize competition. Material Defect - Answer Facts about a property that could influences a buyer's decision to make an offer. Lead-Based Paint Hazard Reduction Act - An...
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