Illinois Broker Reciprocity Ultimate
Exam
**Question 1.** Which Illinois agency is responsible for issuing and regulating
real-estate licenses?
A) Illinois Department of Commerce and Economic Opportunity
B) Illinois Department of Financial and Professional Regulation (IDFPR)
C) Illinois Real Estate Commission
D) Illinois Department of Revenue
Answer: B
Explanation: The IDFPR administers the Real Estate License Act of 2000, issuing
licenses and enforcing regulations.
**Question 2.** To be eligible for an Illinois broker license, an applicant must be
at least:
A) 16 years old
B) 18 years old
C) 21 years old
D) 25 years old
Answer: B
Explanation: Illinois law requires applicants to be at least 18 years of age.
**Question 3.** Which of the following individuals is exempt from needing an
Illinois real-estate license when selling their own residence?
A) A real-estate broker acting as a seller-agent
, Illinois Broker Reciprocity Ultimate
Exam
B) An attorney-in-fact under a power of attorney
C) The property owner who is not a licensed broker
D) A property manager leasing the unit
Answer: C
Explanation: Owners may sell their own property without a license; the
exemption does not extend to agents acting on their behalf.
**Question 4.** The renewal deadline for an Illinois broker license is:
A) January 31 of each year
B) April 30 of even-numbered years
C) July 15 of odd-numbered years
D) December 31 of each year
Answer: B
Explanation: Brokers must renew by April 30 of even-numbered years; other
license types have different dates.
**Question 5.** Which continuing-education (CE) requirement must an Illinois
broker complete during each renewal cycle?
A) 6 hours of ethics, 12 hours of core CE
B) 12 hours of core CE, 3 hours of elective CE
C) 9 hours of core CE, 3 hours of ethics, 3 hours of elective CE
D) 18 hours of any real-estate topics
, Illinois Broker Reciprocity Ultimate
Exam
Answer: C
Explanation: Illinois requires 9 hours of core, 3 hours of ethics, and 3 hours of
elective CE for each renewal period.
**Question 6.** An out-of-state broker who wishes to maintain an Illinois license
must:
A) Obtain a separate Illinois broker license every year
B) Complete Illinois-specific CE and file a reciprocal application
C) Only pay an annual fee, no CE required
D) Operate only as a salesperson under an Illinois managing broker
Answer: B
Explanation: Reciprocity requires a reciprocal application, proof of active license
elsewhere, and completion of Illinois CE.
**Question 7.** In Illinois, earnest money must be placed in:
A) The broker’s personal account
B) An escrow account separate from the broker’s operating funds
C) A checking account of the seller
D) Any account the broker chooses
Answer: B
, Illinois Broker Reciprocity Ultimate
Exam
Explanation: Illinois law mandates that earnest money be held in a designated
escrow account to prevent commingling.
**Question 8.** Which practice is prohibited under Illinois “Blind Ads” rules?
A) Advertising a property without a price
B) Advertising a property without the broker’s name or license number
C) Advertising a property on social media
D) Advertising a property with a virtual tour
Answer: B
Explanation: Illinois requires broker identification in all advertisements; omitting it
is a “blind ad” violation.
**Question 9.** An Illinois broker must provide a written employment agreement
that identifies the licensee as:
A) An independent contractor or an employee, but not both
B) Only an independent contractor
C) Only an employee
D) Either, but the agreement must specify the classification
Answer: D
Explanation: The agreement must clearly state whether the licensee is an
independent contractor or employee.
Exam
**Question 1.** Which Illinois agency is responsible for issuing and regulating
real-estate licenses?
A) Illinois Department of Commerce and Economic Opportunity
B) Illinois Department of Financial and Professional Regulation (IDFPR)
C) Illinois Real Estate Commission
D) Illinois Department of Revenue
Answer: B
Explanation: The IDFPR administers the Real Estate License Act of 2000, issuing
licenses and enforcing regulations.
**Question 2.** To be eligible for an Illinois broker license, an applicant must be
at least:
A) 16 years old
B) 18 years old
C) 21 years old
D) 25 years old
Answer: B
Explanation: Illinois law requires applicants to be at least 18 years of age.
**Question 3.** Which of the following individuals is exempt from needing an
Illinois real-estate license when selling their own residence?
A) A real-estate broker acting as a seller-agent
, Illinois Broker Reciprocity Ultimate
Exam
B) An attorney-in-fact under a power of attorney
C) The property owner who is not a licensed broker
D) A property manager leasing the unit
Answer: C
Explanation: Owners may sell their own property without a license; the
exemption does not extend to agents acting on their behalf.
**Question 4.** The renewal deadline for an Illinois broker license is:
A) January 31 of each year
B) April 30 of even-numbered years
C) July 15 of odd-numbered years
D) December 31 of each year
Answer: B
Explanation: Brokers must renew by April 30 of even-numbered years; other
license types have different dates.
**Question 5.** Which continuing-education (CE) requirement must an Illinois
broker complete during each renewal cycle?
A) 6 hours of ethics, 12 hours of core CE
B) 12 hours of core CE, 3 hours of elective CE
C) 9 hours of core CE, 3 hours of ethics, 3 hours of elective CE
D) 18 hours of any real-estate topics
, Illinois Broker Reciprocity Ultimate
Exam
Answer: C
Explanation: Illinois requires 9 hours of core, 3 hours of ethics, and 3 hours of
elective CE for each renewal period.
**Question 6.** An out-of-state broker who wishes to maintain an Illinois license
must:
A) Obtain a separate Illinois broker license every year
B) Complete Illinois-specific CE and file a reciprocal application
C) Only pay an annual fee, no CE required
D) Operate only as a salesperson under an Illinois managing broker
Answer: B
Explanation: Reciprocity requires a reciprocal application, proof of active license
elsewhere, and completion of Illinois CE.
**Question 7.** In Illinois, earnest money must be placed in:
A) The broker’s personal account
B) An escrow account separate from the broker’s operating funds
C) A checking account of the seller
D) Any account the broker chooses
Answer: B
, Illinois Broker Reciprocity Ultimate
Exam
Explanation: Illinois law mandates that earnest money be held in a designated
escrow account to prevent commingling.
**Question 8.** Which practice is prohibited under Illinois “Blind Ads” rules?
A) Advertising a property without a price
B) Advertising a property without the broker’s name or license number
C) Advertising a property on social media
D) Advertising a property with a virtual tour
Answer: B
Explanation: Illinois requires broker identification in all advertisements; omitting it
is a “blind ad” violation.
**Question 9.** An Illinois broker must provide a written employment agreement
that identifies the licensee as:
A) An independent contractor or an employee, but not both
B) Only an independent contractor
C) Only an employee
D) Either, but the agreement must specify the classification
Answer: D
Explanation: The agreement must clearly state whether the licensee is an
independent contractor or employee.
