ILLINOIS STATE EXAM PRACTICE
QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTIONS 100%
CORRECT RATED A+
Rita signed a seller’s agency agreement with Foxfire Realty. She didn’t receive a
designated agency disclosure form. What might be the reason for this?
✔✔ Answer: A designated agency disclosure clause was included in the listing
agreement
Under what circumstances may sponsoring brokers maintain escrow records
electronically?
✔✔ Answer: If the records are backed up and printed at least once a month
Kelly is working as a dual agent for both buyers and sellers. Which question is she
allowed to answer?
✔✔ Answer: “Should we accept this offer?”
Licensee Lisa is given an earnest money check by Billy Buyer, who asks her to
hold it for one week before depositing it. What should Lisa do? -ANSWER ✔✔Get
all parties to agree in writing to hold the earnest money check for one week before
depositing it.
The key here is that all parties must agree in writing.
Mandy is a buyer who has given her agent an earnest money check for $10,000
with an offer to purchase. When will the check be deposited? -ANSWER
✔✔Immediately upon receipt by her agent
,Licensees are required to turn over earnest money funds to their managing broker
immediately for deposit.
Jeremy provided a Notice of No Agency Relationship disclosure to Tom and
Martina. Which of these statements about this situation must be true? -ANSWER
✔✔Tom and Martina have elected to have Jeremy perform only ministerial tasks
for them
Marcus died intestate (without leaving a will). His wife, Elaine, and two children,
Patrick and Rhonda, are in the line of succession to inherit his estate. According to
Illinois law, how will the property be distributed? -ANSWER ✔✔Elaine receives
50% and the children each receive 25%.
While succession laws are complex, in general, Illinois law says that Marcus's wife
receives 50% of the estate and the children split the remaining 50% equally.
Reich Real Estate has discovered that their licensee, Ivan, has been stealing money
from clients by depositing their earnest money into his own account. What will
likely be the consequence? -ANSWER ✔✔Ivan's license could be suspended
without a hearing.
Which of these statements about the Illinois sponsoring broker exam is true? -
ANSWER ✔✔Sponsoring brokers don't take a separate exam.
A landlord who rents five or more units in one building should provide a written
cost of repairs within _______ days of the tenant vacating. -ANSWER ✔✔30
If the building or complex comprises five or more units, the landlord should
provide the tenant with a written statement noting the property damage that must
be repaired, and an estimate of the repair costs, within 30 days of a tenant vacating.
,Which of these best describes Illinois license reciprocity? -ANSWER
✔✔Licensees in another state that has a reciprocity agreement with Illinois may
skip some or all of the Illinois pre-licensing requirements.
Reciprocity agreements allow licensees from another state to skip some or all of
the Illinois pre-licensing requirements when applying for Illinois licensure.
Which of the following licensees are allowed to work independently in Illinois
without being sponsored? -ANSWER ✔✔Managing brokers
Sally has been assigned to a prospective tenant client, James, as a designated agent.
They're meeting today to sign the brokerage agreement. When is Sally required to
provide a written agency disclosure to James? -ANSWER ✔✔Sally must present
the written disclosure to James today, before or just as the two of them sign the
brokerage agreement.
An Illinois licensee may not use advertising or marketing that ______. -ANSWER
✔✔Is deceptive or misleading
Are property stigmas required to be disclosed in Illinois? -ANSWER ✔✔No,
stigmas aren't required to be disclosed in Illinois.
Illinois licensee Alma is one busy woman: In addition to her regular broker duties,
she also mentors three other licensees. The company owner has approached her
about managing two additional office locations, but she'd need to take more
coursework to be qualified to do that. What kind of broker is she? -ANSWER
✔✔Broker
, Alma is a broker. She'd need to take additional coursework and become a
designated managing broker to manage a brokerage office.
Which of the following is an Illinois licensee working as a dual agent allowed to
disclose to the seller? -ANSWER ✔✔The buyer is pre-approved for a mortgage
Perry is the sponsoring broker for affiliated licensees Reyna and Maggie. Reyna
just closed a deal for seller client Ziggy. Maggie assisted Reyna with hosting
several open houses for the deal and will receive a 1% commission. In accordance
with Illinois law, whom can Maggie expect to pay her commission? -ANSWER
✔✔Perry
Carlos is representing the seller of a duplex in Chicago. A buyer approaches him
about purchasing the property, which would put Carlos in the position of being a
dual agent. What's true about this scenario? -ANSWER ✔✔Carlos can only act as
a dual agent if both the seller and the buyer consent to it.
Kai is performing real estate activities under a court order, so he is ______. -
ANSWER ✔✔Not required to have a real estate license
Licensure is not required in specific circumstances. Performing real estate
activities under a court order is one of them.
is a bad
email address because __________. -ANSWER ✔✔It's hard for someone to
remember.
QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTIONS 100%
CORRECT RATED A+
Rita signed a seller’s agency agreement with Foxfire Realty. She didn’t receive a
designated agency disclosure form. What might be the reason for this?
✔✔ Answer: A designated agency disclosure clause was included in the listing
agreement
Under what circumstances may sponsoring brokers maintain escrow records
electronically?
✔✔ Answer: If the records are backed up and printed at least once a month
Kelly is working as a dual agent for both buyers and sellers. Which question is she
allowed to answer?
✔✔ Answer: “Should we accept this offer?”
Licensee Lisa is given an earnest money check by Billy Buyer, who asks her to
hold it for one week before depositing it. What should Lisa do? -ANSWER ✔✔Get
all parties to agree in writing to hold the earnest money check for one week before
depositing it.
The key here is that all parties must agree in writing.
Mandy is a buyer who has given her agent an earnest money check for $10,000
with an offer to purchase. When will the check be deposited? -ANSWER
✔✔Immediately upon receipt by her agent
,Licensees are required to turn over earnest money funds to their managing broker
immediately for deposit.
Jeremy provided a Notice of No Agency Relationship disclosure to Tom and
Martina. Which of these statements about this situation must be true? -ANSWER
✔✔Tom and Martina have elected to have Jeremy perform only ministerial tasks
for them
Marcus died intestate (without leaving a will). His wife, Elaine, and two children,
Patrick and Rhonda, are in the line of succession to inherit his estate. According to
Illinois law, how will the property be distributed? -ANSWER ✔✔Elaine receives
50% and the children each receive 25%.
While succession laws are complex, in general, Illinois law says that Marcus's wife
receives 50% of the estate and the children split the remaining 50% equally.
Reich Real Estate has discovered that their licensee, Ivan, has been stealing money
from clients by depositing their earnest money into his own account. What will
likely be the consequence? -ANSWER ✔✔Ivan's license could be suspended
without a hearing.
Which of these statements about the Illinois sponsoring broker exam is true? -
ANSWER ✔✔Sponsoring brokers don't take a separate exam.
A landlord who rents five or more units in one building should provide a written
cost of repairs within _______ days of the tenant vacating. -ANSWER ✔✔30
If the building or complex comprises five or more units, the landlord should
provide the tenant with a written statement noting the property damage that must
be repaired, and an estimate of the repair costs, within 30 days of a tenant vacating.
,Which of these best describes Illinois license reciprocity? -ANSWER
✔✔Licensees in another state that has a reciprocity agreement with Illinois may
skip some or all of the Illinois pre-licensing requirements.
Reciprocity agreements allow licensees from another state to skip some or all of
the Illinois pre-licensing requirements when applying for Illinois licensure.
Which of the following licensees are allowed to work independently in Illinois
without being sponsored? -ANSWER ✔✔Managing brokers
Sally has been assigned to a prospective tenant client, James, as a designated agent.
They're meeting today to sign the brokerage agreement. When is Sally required to
provide a written agency disclosure to James? -ANSWER ✔✔Sally must present
the written disclosure to James today, before or just as the two of them sign the
brokerage agreement.
An Illinois licensee may not use advertising or marketing that ______. -ANSWER
✔✔Is deceptive or misleading
Are property stigmas required to be disclosed in Illinois? -ANSWER ✔✔No,
stigmas aren't required to be disclosed in Illinois.
Illinois licensee Alma is one busy woman: In addition to her regular broker duties,
she also mentors three other licensees. The company owner has approached her
about managing two additional office locations, but she'd need to take more
coursework to be qualified to do that. What kind of broker is she? -ANSWER
✔✔Broker
, Alma is a broker. She'd need to take additional coursework and become a
designated managing broker to manage a brokerage office.
Which of the following is an Illinois licensee working as a dual agent allowed to
disclose to the seller? -ANSWER ✔✔The buyer is pre-approved for a mortgage
Perry is the sponsoring broker for affiliated licensees Reyna and Maggie. Reyna
just closed a deal for seller client Ziggy. Maggie assisted Reyna with hosting
several open houses for the deal and will receive a 1% commission. In accordance
with Illinois law, whom can Maggie expect to pay her commission? -ANSWER
✔✔Perry
Carlos is representing the seller of a duplex in Chicago. A buyer approaches him
about purchasing the property, which would put Carlos in the position of being a
dual agent. What's true about this scenario? -ANSWER ✔✔Carlos can only act as
a dual agent if both the seller and the buyer consent to it.
Kai is performing real estate activities under a court order, so he is ______. -
ANSWER ✔✔Not required to have a real estate license
Licensure is not required in specific circumstances. Performing real estate
activities under a court order is one of them.
is a bad
email address because __________. -ANSWER ✔✔It's hard for someone to
remember.
