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Exam (elaborations)

Illinois Leasing Agent Exam Prep

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11 pages
2025/2026 Written for academic year
Institution Illinois Leasing Agent
Course Illinois Leasing Agent
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ILLINOIS LEASING AGENT EXAM PREP

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ILLINOIS LEASING AGENT EXAM
PREP



the0leasing0agent0license0shall0expire0on0July031st0of:0-0ans✔even0numbered0years

sponsoring0brokers0must0submit0the0450day0sponsor0card0to0IDFPR0within:0-
0ans✔240hours0of0employment


leasing0agent0licensees0must0complete0how0many0hours0of0containing0education0durin
g0the0240month0period0prior0renewal:0-0ans✔80hours0of0continuing0education

The0real0estate0recovery0fund0is:0-
0ans✔a0fund0at0IDFPR0to0reimburse0persons0who0suffer0loss0due0to0a0licensees0actio
ns.

The0general0requirements0for0a0residential0leasing0agent0to0obtain0a0license0include:0-
0ans✔applicant0must0be0180years0of0age,0must0have0a0highschool0diploma0or0GED,0m
ust0have0a0sponsoring0broker0or0firm.

True0or0False;0All0licensed0agents0must0be0sponsored0by0a0sponsored0broker0or0firm?
0-0ans✔true


True0or0False;0Leasing0agents0must0be0210years0of0age0and0only0engage0in0the0sale0
of0residential0property?0-0ans✔false

Disciplinary0actions0for0leasing0agents:0-
0ans✔Shall0conform0with0disciplainary0actions0for0licensed0real0estate0brokers


An0applicant0shall0not0practice0as0a0student0leasing0agent0_____________.0-
0ans✔more0than0once0in0a0240month0period.


Which0of0the0following0is0true0about0sponsor0cards?
a-sponsor0cards0are0only0issued0for0residential0leasing0agents
b-all0sponsor0cards0are0issued0by0IDFPR
c-0It0is0a0temporary0450day0permit0issued0by0the0sponsoring0broker
d-it0is0a0180day0student0permit0-0ans✔c

, The0real0estate0recovery0fund0is0maintained0by0IDFPR,0who0is0eligible0to0collect0dama
ges0from0this0account?0-
0ans✔Any0person0who0suffered0a0loss0based0on0a0licensees0conduct.


How0many0times0can0a0person0take0the0state0licensing0exam0before0they0have0to0rep
eat0the0course0again?0-0ans✔40times

the0IDFPR0requires0escrow0records0to0be0maintained0by0the0sponsoring0broker:0-
0ans✔50years


When0must0escrow0money0be0deposited0by0the0sponsoring0broker?0-
0ans✔No0later0than0the0next0business0day0following0the0transaction.


Where0is0the0original0license0for0a0leasing0agent0kept?0-
0ans✔In0the0sponsoring0brokers0principal0office


Mary0is0sponsoring0broker,0she0was0found0guilty0of0a0license0act0violation.0Her0license
0was0suspended.0What0is0the0status0of0the0licenses0that0were0sponsored0by0Mary?0-
0ans✔All0sponsored0licensees0immediately0go0into0inactive0status.


Which0of0the0following0is0not0a0blind0ad?0-
0ans✔An0advertisement0for0rental0property0with0the0brokerage0company0name0and0ph
one0number0listed0on0the0ad.

A0licensee0seeking0an0apartment0encountered0discrimination0based0on0his0age.0Which
0one0of0the0following0statements0is0correct0regarding0the0real0estate0recovery0fund?
a-
0the0licensee0may0not0file0a0complaint0with0IDFPR0because0of0the0real0estate0recover
y0fund0is0for0members0of0the0general0public0and0not0licensees.
b-
0the0licensee0may0not0file0a0complaint0because0there0is0no0witness0to0the0discriminati
on0when0the0licensee0claims0that0discrimination0took0place
c-
the0licensee0may0file0a0complaint0and0a0hearing0will0be0conducted0by0IDFPR0to0deter
mine0if0any0discrimination0took0place
d-
0the0licensee0may0file0a0complaint0with0IDFPR0because0the0discrimination0took0place0f
ive0years0ago0and0the0case0was0opened0within0the0required0time0period.0-0ans✔c

A0licensee0owns01%0of0a0residential0property0that0is0being0advertised0for0rent.0What0is
0the0maximum0amount0of0ownership0that0a0license0you0can0have0any0property0before0
disclosure0is0required?0-
0ans✔There0is0no0minimum0or0maximum0percentage0of0ownership0that0is0required.


A0student0leasing0agent0was0hired0on0January015.0The0sponsoring0broker0did0not0com
plete0the01200day0student0permit0until0January030.0When0does0the01200day0period0be

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