Leasing Exam | questions and answers | Latest 2024/25

Leasing Exam | questions and answers | Latest 2024/25 In Illinois for over 25 units, a tenant is entitled to interest on their s ecurity deposit was held for how many months? 6 Which of the following does not require disclosure? A. Radon B. Felons living onsite C. Lead -based paint D. Termites felons living onsite What was the date of the first civil rights act? 1866 Is it permiss able to refuse to rent to a person with a poor credit history? yes Who is acceptable to redline? lending institutions Is occupancy standard a federal law or guideline? guideline Directing people, especially minorities, toward a specific neighborhood is called what? steering The definition of familial status is residents over the age of 18. True or False? false A licensee advertises a 15 year old building as new. This is called w hat? fraud A blind ad means an ad is? missing key information, HAS NOTHING TO DO W SIZE Can an unliscensed personal assistant can sit at an open house for area brokers? yes When can a tenant claim constructive eviction? when it is uninhabitable Where i s the leasing agent's original license kept? broker's office or any branch office When a leasing agent offers to put an elderly resident in a quiet building with others, what is this called? steering A leasing agent refuses to rent a third floor unit to a disabled resident because there are no elevators in the building. What did the agent violate? fair housing laws A lease with an indefinite ending date is called? periodic tenancy The Residential Disclosure Act applies to? sellers of 4 units or LESS When are sponsor cards issued and who issues them? 24 hours after license; issued by broker Tenant installed a new light fixture in the dining room. What kind of property is the light fixture? real An owner of a 12 unit apartment building lives onsite. In his absense, the maintenence person shows vacant apartments. Is this acceptable? Why or why not? Yes, the OWNER is exempt from the license The leasing agent license shall expire on July 31 of? even numbered years Sponsoring brokers must submit the 45 day sponsor card to IDFPR within? 24 hours of employment Leasing agent licensees must complete how many hours of continuing education duringthe 24 month period prior renewal? 6 What is a fund used by IDFPR to reimburse aggreieved persons who suffer a loss based on a licensee's actions? Real Estate Recovery Fund The Leasing Agent License allows the licensee to engage in? only residential leasing activities An applicant shall not practice as a student leasing agent _____________. more than once in a 24 month period Which is TRUE about sponsor cards? A. Sponsor cards are only issued for leasing agents. B. All sponsor cards must be displayed on the wall of the licensee's office. C. It is a temporary 45 days permit isssued by the sponsoring broker D. It is a 180 day student permit C How many times may a person take the state leasing exam before they have to repeat the course again? 4 times in 4 years The department of Financial and Professional Regulati on requires escrow records to be maintained by the sponsoring broker for? 5 years When must escrow money be deposited by the sponsoring broker? no later than the next business day following the transaction Where is the original license for a leasing agen t kept? in the sponsoring broker's office or the licensee s primary branch office If a licensee advertises a 15 year old home as "new", this is? fraud/misrepresentation