Illinois Real Estate License Exam Questions and Answers 100% Accurate
Real estate professionals are licensed at the federal level. - ANSWER-False
License laws often prescribe a standard of conduct for licensees. - ANSWER-True
Professional associations determine which activities are affected by state licensing laws. - ANSWER-False
License laws protect the rights of buyers, sellers, tenants, and property owners. - ANSWER-True
Karen has been appointed to supervise broker Jan and is responsible for real estate activities that they both perform. - ANSWER-Designated Managing Broker
Jan is sponsored by Todd. She's had her real estate license for about nine months. - ANSWER-Broker
Marco, a licensee for 20 years, helps clients find tenants for their vacant apartments, but doesn't work with sellers or buyers. - ANSWER-Residential Leasing Agent
Todd is responsible for everything that takes place in the brokerage firm and its branches. - ANSWER-Sponsoring Broker
Joseph is qualified to work independently if he wants, but he's affiliated with Todd, and he doesn't have supervisory responsibility. - ANSWER-Managing Broker
Which of these best defines a real estate broker? - ANSWER-A real estate licensee who performs brokerage services under the supervision of a managing broker
No continuing education is required to maintain a residential leasing agent license in Illinois. - ANSWER-False
To be an Illinois managing broker, you must be able to prove that you can practice law in Illinois. - ANSWER-False
To be an Illinois broker, you must be able to prove that you're working for a sponsoring broker. - ANSWER-True
If you're an Illinois designated managing broker, you're responsible for the actions of those working for you. - ANSWER-True
Real estate professionals are licensed at the federal level. - ANSWER-False
License laws often prescribe a standard of conduct for licensees. - ANSWER-True
Professional associations determine which activities are affected by state licensing laws. - ANSWER-False
License laws protect the rights of buyers, sellers, tenants, and property owners. - ANSWER-True
Karen has been appointed to supervise broker Jan and is responsible for real estate activities that they both perform. - ANSWER-Designated Managing Broker
Jan is sponsored by Todd. She's had her real estate license for about nine months. - ANSWER-Broker
Marco, a licensee for 20 years, helps clients find tenants for their vacant apartments, but doesn't work with sellers or buyers. - ANSWER-Residential Leasing Agent
Todd is responsible for everything that takes place in the brokerage firm and its branches. - ANSWER-Sponsoring Broker
Joseph is qualified to work independently if he wants, but he's affiliated with Todd, and he doesn't have supervisory responsibility. - ANSWER-Managing Broker
Which of these best defines a real estate broker? - ANSWER-A real estate licensee who performs brokerage services under the supervision of a managing broker
No continuing education is required to maintain a residential leasing agent license in Illinois. - ANSWER-False
To be an Illinois managing broker, you must be able to prove that you can practice law in Illinois. - ANSWER-False
To be an Illinois broker, you must be able to prove that you're working for a sponsoring broker. - ANSWER-True
If you're an Illinois designated managing broker, you're responsible for the actions of those working for you. - ANSWER-True
