Illinois leasing agent practice exam / Questions &
Detailed Solutions.
Terms in this set (50)
1. The lease contract stated Breach
that the renters would bring
in the security deposit within
five days. It is now the sixth
day and the renters have not
brought in the money. This is
legally referred to as:
2. In dealing with the public, may keep silent about a material fact concerning the property if
a licensee: the client is the owner. d) may negotiate different commissions
with different owners.
3. Escrow monies: could include security deposits as well as earnest money.
4. An offer may be if it is rejected; if it is changed; or if it is revoked before
terminated: acceptance.
, A property management Steering
company runs a complex of
several buildings, all
belonging to the same owner
and on the same parcel of
land. At the owner's request,
the manager has made
apartments available to
families with children in just
two of the buildings.
This practice is:
6. In a lease an owner may Reversion are interest
hold a future interest in the
property known as:
7. Which of the following A licensee is representing both landlord and tenant in the same
would be considered a dual transaction.
agency?
8. To be enforced, the In writing
Statute of Frauds requires
that all contracts for the sale
or lease of real estate be:
The rental agent should have inquired about the couple's
9. A young couple with a preference for apartments.
toddler and an infant want to
lease an apartment in a
complex that is occupied
primarily by adults. The
rental agent shows the
couple apartments only on
the first floor. Which of the
following is true?
Detailed Solutions.
Terms in this set (50)
1. The lease contract stated Breach
that the renters would bring
in the security deposit within
five days. It is now the sixth
day and the renters have not
brought in the money. This is
legally referred to as:
2. In dealing with the public, may keep silent about a material fact concerning the property if
a licensee: the client is the owner. d) may negotiate different commissions
with different owners.
3. Escrow monies: could include security deposits as well as earnest money.
4. An offer may be if it is rejected; if it is changed; or if it is revoked before
terminated: acceptance.
, A property management Steering
company runs a complex of
several buildings, all
belonging to the same owner
and on the same parcel of
land. At the owner's request,
the manager has made
apartments available to
families with children in just
two of the buildings.
This practice is:
6. In a lease an owner may Reversion are interest
hold a future interest in the
property known as:
7. Which of the following A licensee is representing both landlord and tenant in the same
would be considered a dual transaction.
agency?
8. To be enforced, the In writing
Statute of Frauds requires
that all contracts for the sale
or lease of real estate be:
The rental agent should have inquired about the couple's
9. A young couple with a preference for apartments.
toddler and an infant want to
lease an apartment in a
complex that is occupied
primarily by adults. The
rental agent shows the
couple apartments only on
the first floor. Which of the
following is true?
