Leasing Exam - Hard Questions with verified answers
______________ records go into NON INTEREST BEARING accounts unless
discussed otherwise. Ans✓✓✓ Escrow
A leasing agent may: Ans✓✓✓ attempt, offer or negotiate to rent or release
residential property
A leasing agents license is only valid in? Ans✓✓✓ the state it was issued in
A licensee may only represent both parties in a transaction IF? Ans✓✓✓ there is
prior, informed WRITTEN consent from both parties
A reasonable accommodation is? Ans✓✓✓ a bend in a rule, not a physical
change
A reasonable modification is? Ans✓✓✓ a physical change to the EXTERIOR OR
INTERIOR
A residential lessee is exempt from a license IF they: Ans✓✓✓ -refer no more
than 3 prospective lessees in any 12 month period
-recieved no more compensation than $1,500 or equivalent at one months rent,
whichever is less in any 12 month period
ADA states that certain individuals are NOT protected under the anti drug laws.
Who are they? Ans✓✓✓ -people who currently use drugs illegally
-people who mis-use perscription drugs
,All ads must include what? Ans✓✓✓ sponsoring broker's name, brokerage
company's name and contact info
All internet ads must include what? Ans✓✓✓ geographic location of property
being advertised and brokerage company's name
ALL leasing licenses go inactive and are terminated immediately IF? Ans✓✓✓
brokers license is terminated
An employee agreement must state whether the licensee is an __________ or an
_________________. Ans✓✓✓ employee; independent contractor
An occurance on a property such as a murder or suicide is an example of?
Ans✓✓✓ stigmatized property
An owner is exempt from Fair Housing Act if he owns _________________.
Ans✓✓✓ 3 units or less
An owner must follow Fair Housing Act if he owns ____________________.
Ans✓✓✓ 4 units or more
An owner of a single family home restricts the rental of rooms in her home to
women only. The woman has violated? Ans✓✓✓ no civil rights act
An unlicensed leasing agent may practice as a student only
_____________________. Ans✓✓✓ once in a 24 month period (120 day form)
, Ancestry and Age are protected classes under? Ans✓✓✓ IL Human Rights Act
Another word for "month to month" contracts is? Ans✓✓✓ periodic tenancy
Any changes in managing brokers shall be reported to WHOM and IN WHAT
TIME? Ans✓✓✓ IDFPR in writing; within 15 days of the change
Any work performed on residential properties that disturbs lead-based paint must
be done by who? Ans✓✓✓ certified contractors
Can a leasing agent collect rent or supervise the collection of rent? Ans✓✓✓ Yes
Can a licensee use their own name in advertising? Ans✓✓✓ no
Can a sponsoring broker maintain more than one escrow account? Ans✓✓✓ yes
Can adults have as many children as they want to occupy a unit? Ans✓✓✓ no
Civil Rights Act of 1866 - STATE or FEDERAL Ans✓✓✓ STATE
Civil Rights Act of 1968 - STATE or FEDERAL Ans✓✓✓ FEDERAL
Disciplinary fines for all licensees must be paid to whom and in what time period?
Ans✓✓✓ IDFPR; within 60 days
______________ records go into NON INTEREST BEARING accounts unless
discussed otherwise. Ans✓✓✓ Escrow
A leasing agent may: Ans✓✓✓ attempt, offer or negotiate to rent or release
residential property
A leasing agents license is only valid in? Ans✓✓✓ the state it was issued in
A licensee may only represent both parties in a transaction IF? Ans✓✓✓ there is
prior, informed WRITTEN consent from both parties
A reasonable accommodation is? Ans✓✓✓ a bend in a rule, not a physical
change
A reasonable modification is? Ans✓✓✓ a physical change to the EXTERIOR OR
INTERIOR
A residential lessee is exempt from a license IF they: Ans✓✓✓ -refer no more
than 3 prospective lessees in any 12 month period
-recieved no more compensation than $1,500 or equivalent at one months rent,
whichever is less in any 12 month period
ADA states that certain individuals are NOT protected under the anti drug laws.
Who are they? Ans✓✓✓ -people who currently use drugs illegally
-people who mis-use perscription drugs
,All ads must include what? Ans✓✓✓ sponsoring broker's name, brokerage
company's name and contact info
All internet ads must include what? Ans✓✓✓ geographic location of property
being advertised and brokerage company's name
ALL leasing licenses go inactive and are terminated immediately IF? Ans✓✓✓
brokers license is terminated
An employee agreement must state whether the licensee is an __________ or an
_________________. Ans✓✓✓ employee; independent contractor
An occurance on a property such as a murder or suicide is an example of?
Ans✓✓✓ stigmatized property
An owner is exempt from Fair Housing Act if he owns _________________.
Ans✓✓✓ 3 units or less
An owner must follow Fair Housing Act if he owns ____________________.
Ans✓✓✓ 4 units or more
An owner of a single family home restricts the rental of rooms in her home to
women only. The woman has violated? Ans✓✓✓ no civil rights act
An unlicensed leasing agent may practice as a student only
_____________________. Ans✓✓✓ once in a 24 month period (120 day form)
, Ancestry and Age are protected classes under? Ans✓✓✓ IL Human Rights Act
Another word for "month to month" contracts is? Ans✓✓✓ periodic tenancy
Any changes in managing brokers shall be reported to WHOM and IN WHAT
TIME? Ans✓✓✓ IDFPR in writing; within 15 days of the change
Any work performed on residential properties that disturbs lead-based paint must
be done by who? Ans✓✓✓ certified contractors
Can a leasing agent collect rent or supervise the collection of rent? Ans✓✓✓ Yes
Can a licensee use their own name in advertising? Ans✓✓✓ no
Can a sponsoring broker maintain more than one escrow account? Ans✓✓✓ yes
Can adults have as many children as they want to occupy a unit? Ans✓✓✓ no
Civil Rights Act of 1866 - STATE or FEDERAL Ans✓✓✓ STATE
Civil Rights Act of 1968 - STATE or FEDERAL Ans✓✓✓ FEDERAL
Disciplinary fines for all licensees must be paid to whom and in what time period?
Ans✓✓✓ IDFPR; within 60 days
