Illinois leasing agent exam with accurate detailed answers || || || || || || ||
1. The lease contract stated that the renters would bring in the security deposit within five days. It
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is now the sixth day and the renters have not brought in the money. This is legally referred to as: -
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✔✔Breach
2. In dealing with the public, a licensee: - ✔✔may keep silent about a material fact concerning the
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property if the client is the owner. d) may negotiate different commissions with different owners.
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3. Escrow monies: - ✔✔could include security deposits as well as earnest money.
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4. An offer may be terminated: - ✔✔if it is rejected; if it is changed; or if it is revoked before
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acceptance.
A property management company runs a complex of several buildings, all belonging to the same
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owner and on the same parcel of land. At the owner's request, the manager has made apartments
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available to families with children in just two of the buildings. This practice is: - ✔✔Steering
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6. In a lease an owner may hold a future interest in the property known as: - ✔✔Reversion are
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interest
7. Which of the following would be considered a dual agency? - ✔✔A licensee is representing
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both landlord and tenant in the same transaction.
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8. To be enforced, the Statute of Frauds requires that all contracts for the sale or lease of real
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estate be: - ✔✔In writing || || || ||
9. A young couple with a toddler and an infant want to lease an apartment in a complex that is
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occupied primarily by adults. The rental agent shows the couple apartments only on the first floor.
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Which of the following is true? - ✔✔The rental agent should have inquired about the couple's
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preference for apartments. || ||
, 10. On Tuesday, the agent received an offer and a check for security deposit from a renter. The
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owner accepted and signed the lease at 11 am on Wednesday. The agent must: - ✔✔deposit the
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money in his escrow account by the close of business on Thursday.
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11. The primary requirement of a contract would be: - ✔✔Offer and acceptance
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12. Because of the complexity of laws that affect real estate today, a property manager should be
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familiar with all of the following EXCEPT: - ✔✔the "Blue-Sky" laws.
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13. If a complaint goes to the federal courts based on the Civil Rights Act of 1866, the complaint
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would be that there was discrimination based on: - ✔✔Race
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14. When a tenant, who has a written lease with the owner, sublets all or any part of the premises:
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- ✔✔the original lease is unaffected unless it contains a provision that prohibits such subletting.
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15. Which of the following people may discriminate on the basis of race? - ✔✔No one
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16. It would be a violation of the antitrust laws for a broker to: a) charge one owner 7% while
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charging another 6%. - ✔✔agree to a minimum commission with other brokers
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17. The building leases prohibit tenants from altering the property in any way. One tenant is now
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confined to a wheelchair, and cannot maneuver over the doorstep into the apartment by herself.
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Nor can she use the bathroom facilities in her wheelchair. Which of the following is true? -
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✔✔The tenant is entitled to make the necessary alterations.
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18. Which of the following is illegal? - ✔✔Refusing to hire an otherwise qualified person
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because a disability will necessitate occasional time off work.
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19. The amount of security deposit in a contract for the lease of real property is determined by: -
|| || || || || || || || || || || || || || || || || || ||
✔✔Agreement of the parties. || || ||
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: -
|| || || || || || || || || || || || || || || || || || || || ||
✔✔Breach
2. In dealing with the public, a licensee: - ✔✔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: - ✔✔could include security deposits as well as earnest money.
|| || || || || || || || || || || ||
4. An offer may be terminated: - ✔✔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: - ✔✔Steering
|| || || || || || || || || || || || || || ||
6. In a lease an owner may hold a future interest in the property known as: - ✔✔Reversion are
|| || || || || || || || || || || || || || || || || || ||
interest
7. Which of the following would be considered a dual agency? - ✔✔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: - ✔✔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? - ✔✔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: - ✔✔deposit the
|| || || || || || || || || || || || || || || || ||
money in his escrow account by the close of business on Thursday.
|| || || || || || || || || || ||
11. The primary requirement of a contract would be: - ✔✔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: - ✔✔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: - ✔✔Race
|| || || || || || || || ||
14. When a tenant, who has a written lease with the owner, sublets all or any part of the premises:
|| || || || || || || || || || || || || || || || || || || ||
- ✔✔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? - ✔✔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%. - ✔✔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? -
|| || || || || || || || || || || || || || || || ||
✔✔The tenant is entitled to make the necessary alterations.
|| || || || || || || ||
18. Which of the following is illegal? - ✔✔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: -
|| || || || || || || || || || || || || || || || || || ||
✔✔Agreement of the parties. || || ||
