IL Residential Leasing Agent Exam with accurate detailed solutions

IL Residential Leasing Agent Exam with accurate detailed
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solutions


IDFPR stands for what? - ✔✔Illinois Department of Financial and Professional Regulation
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What are the 4 divisions of IDFPR? - ✔✔1. RE Administration and Disciplinary Board
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2. RE Research and Education Fund
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3. RE Admin Fund
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4. Peer Review Advisors
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ADA stands for: - ✔✔The Americans with Disabilities Act
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These two protected classes, disabilities and familial status, were added as part of which Fair
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Housing Act? - ✔✔Fair Housing Amendments Act of 1988
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Licensed leasing agents may perform all of the following activities except: - ✔✔Offer or
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negotiate the sale or exchange of real estate || || || || || || ||




A tenant reports a landlord to the city for a wiring violation. The tenant's lease is coming up for
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expiration and the landlord decides not to renew the lease after he found out about the violation.
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This practice is: - ✔✔Discriminatory because it appears to be retaliation against the tenant
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A tenant in Illinois is entitled to interest on their security deposit if it is held for more than: - ✔✔6
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months


Upon termination of employment of a leasing agent, the sponsoring broker shall: - ✔✔Sign the
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front of the leasing license and return to the licensee
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, Two friends are lease holders on an apartment lease. One moved out and left the other on their
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own for the lease. Which is true regarding their lease obligations? - ✔✔The vacating tenant is still
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a responsible party for the rent
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A leasing agent refuses to rent a third floor apartment to a family with children because of
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possible noise issues to disturb other tenants. Did the leasing agent violate fair housing laws? -
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✔✔Yes



WOTF fiduciary duties will survive the expiration of a contract? - ✔✔Confidentiality
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The landlord has not adequately maintained a tenant's apartment and the tenant is experiencing
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health issues. What action can be claimed by the tenant? - ✔✔Constructive eviction
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The Fair Housing Act of 1968 prohibits discrimination based on: - ✔✔Race, color, religion,
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national origin ||




Price fixing is an example of a violation of: - ✔✔Antitrust laws
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How many days does a brokerage office have to notify IDFPR if they lose their Managing
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Broker? - ✔✔15 days || || ||




A branch office must have WOTF? - ✔✔A managing broker supervising the office
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Disciplinary procedures for leasing agent licenses shall: - ✔✔Conform with disciplinary || || || || || || || || || || ||




procedures for brokers and managing brokers || || || || ||




Sponsor cards are issued by: - ✔✔The sponsoring broker
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When do escrow funds need to be deposited? - ✔✔The next business day after acceptance of the
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contract