ILLINOIS REAL ESTATE BROKER EXAM QUESTIONS AND CORRECT ANSWER WITH EXPLANATION LATEST 2025 2026

ILLINOIS REAL ESTATE BROKER EXAM QUESTIONS AND
CORRECT ANSWER WITH EXPLANATION LATEST 2025-
2026

1.

The agency regulating real estate licenses in Illinois is:
A. Illinois Department of Financial and Professional Regulation
B. HUD
C. TREC
D. GREC
Answer: A
Rationale: IDFPR regulates Illinois real estate licensing.



2.

An Illinois broker license allows a person to:
A. Practice independently
B. Work only under an attorney
C. Avoid continuing education
D. Issue mortgages
Answer: A
Rationale: Illinois brokers may operate independently or manage firms.



3.

A broker license in Illinois is generally valid for:
A. 2 years
B. 4 years
C. 1 year
D. 6 months
Answer: A
Rationale: Illinois broker licenses renew every 2 years.

,4.

Real property includes:
A. Land and improvements
B. Vehicles
C. Stocks
D. Clothing
Answer: A
Rationale: Real property includes land and attached items.



5.

Personal property is also called:
A. Chattel
B. Fixture
C. Realty
D. Estate
Answer: A
Rationale: Chattel refers to movable property.



6.

A fixture is:
A. Permanently attached property
B. Temporary furniture
C. Personal clothing
D. Cash deposit
Answer: A
Rationale: Fixtures become part of real estate.



7.

A deed transfers:
A. Ownership title
B. Insurance coverage
C. Tax liability
D. Appraisal value

, Answer: A
Rationale: Deeds transfer ownership rights.



8.

The borrower in a mortgage is:
A. Mortgagor
B. Mortgagee
C. Trustee
D. Beneficiary
Answer: A
Rationale: Borrower gives the mortgage.



9.

The lender in a mortgage is:
A. Mortgagee
B. Mortgagor
C. Trustor
D. Lessee
Answer: A
Rationale: Lender receives mortgage interest.



10.

A lien is:
A. Claim against property
B. Lease agreement
C. Insurance policy
D. Appraisal report
Answer: A
Rationale: Liens secure debt obligations.



11.