ILLINOIS BROKERAGE EXAM AND
PRACTICE EXAM NEWEST 2026/ 2027
TEST BANK| ILLINOIS BROKERAGE EXAM
PREP WITH COMPLETE REAL EXAM
QUESTIONS AND CORRECT VERIFIED
ANSWERS/ ALREADY GRADED A+
(MOST RECENT!!)
1. The bundle of legal rights associated with real property ownership includes
all of the following EXCEPT:
• A) The right of possession
• B) The right of control
• C) The right of exclusion
• D) The right to tax
,,,answer,,,,: D. The bundle of rights includes possession, control, enjoyment,
exclusion, and disposition. The right to tax is a government power, not an owner's
right.
2. A fixture is best defined as:
• A) Personal property that can be easily removed
• B) An item that was once personal property but has become permanently
attached to real property
, • C) Any item found on the property
• D) A structural component of a building
,,,answer,,,,: B. A fixture is personal property that has been attached to land or a
building and is legally considered real property. Key tests include attachment,
adaptation, and intent.
3. Which of the following is an example of an encumbrance?
• A) A deed
• B) A mortgage
• C) A title insurance policy
• D) A survey
,,,answer,,,,: B. An encumbrance is a claim or liability attached to property, such as
a mortgage, lien, easement, or restrictive covenant. A mortgage is a voluntary lien
on the property.
4. A legal description that uses a system of rectangular surveys based on
principal meridians and base lines is called:
• A) Metes and bounds
• B) Lot and block
• C) Government survey system
• D) Plat map description
,,,answer,,,,: C. The government survey system (also called the rectangular survey
system) divides land into townships and sections using meridians and base lines.
,5. A property owner grants a neighbor the right to walk across their property to
access a lake. This is an example of:
• A) A license
• B) An easement appurtenant
• C) A profit
• D) A lien
,,,answer,,,,: B. An easement appurtenant is a right to use another's land that
benefits the dominant estate (the neighbor's property). It runs with the land.
6. Which of the following is NOT a physical characteristic of land?
• A) Immobility
• B) Indestructibility
• C) Uniqueness
• D) Scarcity
,,,answer,,,,: D. Scarcity is an economic characteristic, not a physical one. The
physical characteristics are immobility, indestructibility, and uniqueness (non-
homogeneity).
7. A seller discloses a known defect in the property to the buyer. This fulfills
which duty?
• A) Duty of confidentiality
, • B) Duty of disclosure
• C) Duty of obedience
• D) Duty of accounting
,,,answer,,,,: B. The duty of disclosure requires the agent to disclose all material
facts that could affect the buyer's decision.
8. Which type of ownership allows a person to own property and, upon death,
have it pass to the surviving joint owners?
• A) Tenancy in common
• B) Joint tenancy
• C) Tenancy by the entirety
• D) Community property
,,,answer,,,,: B. Joint tenancy includes the right of survivorship, meaning when one
owner dies, their share automatically passes to the surviving joint tenants.
9. A person who inherits property through a will is called a:
• A) Heir
• B) Devisee
• C) Legatee
• D) Beneficiary
,,,answer,,,,: B. A devisee is a person who receives real property through a will. An
heir inherits through intestacy (without a will).
PRACTICE EXAM NEWEST 2026/ 2027
TEST BANK| ILLINOIS BROKERAGE EXAM
PREP WITH COMPLETE REAL EXAM
QUESTIONS AND CORRECT VERIFIED
ANSWERS/ ALREADY GRADED A+
(MOST RECENT!!)
1. The bundle of legal rights associated with real property ownership includes
all of the following EXCEPT:
• A) The right of possession
• B) The right of control
• C) The right of exclusion
• D) The right to tax
,,,answer,,,,: D. The bundle of rights includes possession, control, enjoyment,
exclusion, and disposition. The right to tax is a government power, not an owner's
right.
2. A fixture is best defined as:
• A) Personal property that can be easily removed
• B) An item that was once personal property but has become permanently
attached to real property
, • C) Any item found on the property
• D) A structural component of a building
,,,answer,,,,: B. A fixture is personal property that has been attached to land or a
building and is legally considered real property. Key tests include attachment,
adaptation, and intent.
3. Which of the following is an example of an encumbrance?
• A) A deed
• B) A mortgage
• C) A title insurance policy
• D) A survey
,,,answer,,,,: B. An encumbrance is a claim or liability attached to property, such as
a mortgage, lien, easement, or restrictive covenant. A mortgage is a voluntary lien
on the property.
4. A legal description that uses a system of rectangular surveys based on
principal meridians and base lines is called:
• A) Metes and bounds
• B) Lot and block
• C) Government survey system
• D) Plat map description
,,,answer,,,,: C. The government survey system (also called the rectangular survey
system) divides land into townships and sections using meridians and base lines.
,5. A property owner grants a neighbor the right to walk across their property to
access a lake. This is an example of:
• A) A license
• B) An easement appurtenant
• C) A profit
• D) A lien
,,,answer,,,,: B. An easement appurtenant is a right to use another's land that
benefits the dominant estate (the neighbor's property). It runs with the land.
6. Which of the following is NOT a physical characteristic of land?
• A) Immobility
• B) Indestructibility
• C) Uniqueness
• D) Scarcity
,,,answer,,,,: D. Scarcity is an economic characteristic, not a physical one. The
physical characteristics are immobility, indestructibility, and uniqueness (non-
homogeneity).
7. A seller discloses a known defect in the property to the buyer. This fulfills
which duty?
• A) Duty of confidentiality
, • B) Duty of disclosure
• C) Duty of obedience
• D) Duty of accounting
,,,answer,,,,: B. The duty of disclosure requires the agent to disclose all material
facts that could affect the buyer's decision.
8. Which type of ownership allows a person to own property and, upon death,
have it pass to the surviving joint owners?
• A) Tenancy in common
• B) Joint tenancy
• C) Tenancy by the entirety
• D) Community property
,,,answer,,,,: B. Joint tenancy includes the right of survivorship, meaning when one
owner dies, their share automatically passes to the surviving joint tenants.
9. A person who inherits property through a will is called a:
• A) Heir
• B) Devisee
• C) Legatee
• D) Beneficiary
,,,answer,,,,: B. A devisee is a person who receives real property through a will. An
heir inherits through intestacy (without a will).
