Illinois Leasing Agent Exam
1. A ground lease is usually A
A. long term.
B. short term.
C. for 100 years or longer.
D. a gross lease.
2. A tenant enters into a commercial lease that requires a D
monthly rent based on a minimum set amount plus an
additional amount determined by the tenant's gross
receipts exceeding $5,000. This type of lease is called
a
A. standard lease.
B. gross lease.
C. net lease.
D. percentage lease.
3. If a tenant moved out of a rented store building be- B
cause access to the building was blocked as a result
of the landlord's negligence, the
A. tenant would have no legal recourse against the
landlord.
B. tenant would be entitled to recover damages from
the landlord.
C. landlord would be liable for the rent until the expi-
ration date of the lease.
D. landlord would have to provide substitute space.
4. A tenant signs a lease that includes a schedule of rent C
increases on specific dates over the course of the lease
term. What type of lease has the tenant signed?
A. Percentage
B. Net
, Illinois Leasing Agent Exam
C. Graduated
D. Index
5. A tenant still has five months remaining on a one-year D
apartment lease. When the tenant moves to another
city, she transfers possession of the apartment to a
friend for the entire remaining term of the lease. The
friend pays rent directly to the tenant. In this situation,
the tenant has become
A. an assignor.
B. a sublessee.
C. a lessor.
D. a sub lessor.
6. A person has a one-year leasehold interest in a house. C
The interest automatically renews itself at the end of
each year. The person's interest is called a tenancy
A. for years.
B. at will.
C. from period to period.
D. at sufferance.
7. What is rent? D
A. Contractual consideration to a third party
B. All monies paid by the lessor to the lessee
C. Total balance owed under the terms of a lease
D. Consideration for the use of real property
8. A net lease is C
A. an agreement in which the tenant pays a fixed rent
and the landlord pays all taxes, insurance, and other
charges on the property.
B. a lease in which the tenant pays the landlord a
, Illinois Leasing Agent Exam
percentage of the monthly profits derived from the
tenant's commercial use of the property.
C. a lease in which the tenant pays rent plus mainte-
nance and property charges.
D. a lease-purchase agreement in which the landlord
agrees to apply part of the monthly rent toward the
ultimate purchase price of the property.
9. A commercial lease calls for a minimum rent of $1,200 C
per month plus 4% of the annual gross business ex-
ceeding $150,000. If the total rent paid at the end of
one year was $19,200, how much business did the
tenant do during the year?
A. $159,800
B. $250,200
C. $270,000
D. $279,200
10. In Illinois, which of these statements is TRUE regard- D
ing a lease for more than one year?
A. The lease trust include a provision for interest to be
paid on all security deposits.
B. The lease must be recorded to give actual notice of
the resident tenants right of possession.
C. The lease may be terminated only by written notice
to the tenant, even if it contains a definite expiration
date. D. The lease must be in writing and signed to be
enforceable in court.
11. A tenant has a one-year lease on an apartment. If the B
tenant fails to pay his rent when it is due, the landlord
may
, Illinois Leasing Agent Exam
A. terminate the tenant's lease without notice when
the rent is more than 10 days past due.
B. serve notice on the tenant to pay the delinquent
rent within five days. C. hire a moving company to
remove the tenant's furniture and personal property
from the premises.
D. serve notice on the tenant to pay the rent within five
days and proceed with a suit for possession regard-
less of whether or not the tenant pays the past-due
rent.
12. In Illinois, a landlord must give a tenant at least 60 A
days' written notice to terminate which of these ten-
ancies?
A. Tenancy from year to year
B. Tenancy at will
C. Tenancy for years
D. Tenancy at sufferance
13. A tenant's lease has expired. The tenant has neither D
vacated the premises nor negotiated a renewal lease,
and the landlord has declared that she does not want
the tenant to remain in the building. This form of
possession is called
A. an estate for years.
B. a periodic estate.
C. an estate at will.
D. an estate at sufferance.
14. A tenant's tenancy for years will expire in two weeks. A
The tenant plans to move to a larger apartment across
town when the current tenancy expires. What must
1. A ground lease is usually A
A. long term.
B. short term.
C. for 100 years or longer.
D. a gross lease.
2. A tenant enters into a commercial lease that requires a D
monthly rent based on a minimum set amount plus an
additional amount determined by the tenant's gross
receipts exceeding $5,000. This type of lease is called
a
A. standard lease.
B. gross lease.
C. net lease.
D. percentage lease.
3. If a tenant moved out of a rented store building be- B
cause access to the building was blocked as a result
of the landlord's negligence, the
A. tenant would have no legal recourse against the
landlord.
B. tenant would be entitled to recover damages from
the landlord.
C. landlord would be liable for the rent until the expi-
ration date of the lease.
D. landlord would have to provide substitute space.
4. A tenant signs a lease that includes a schedule of rent C
increases on specific dates over the course of the lease
term. What type of lease has the tenant signed?
A. Percentage
B. Net
, Illinois Leasing Agent Exam
C. Graduated
D. Index
5. A tenant still has five months remaining on a one-year D
apartment lease. When the tenant moves to another
city, she transfers possession of the apartment to a
friend for the entire remaining term of the lease. The
friend pays rent directly to the tenant. In this situation,
the tenant has become
A. an assignor.
B. a sublessee.
C. a lessor.
D. a sub lessor.
6. A person has a one-year leasehold interest in a house. C
The interest automatically renews itself at the end of
each year. The person's interest is called a tenancy
A. for years.
B. at will.
C. from period to period.
D. at sufferance.
7. What is rent? D
A. Contractual consideration to a third party
B. All monies paid by the lessor to the lessee
C. Total balance owed under the terms of a lease
D. Consideration for the use of real property
8. A net lease is C
A. an agreement in which the tenant pays a fixed rent
and the landlord pays all taxes, insurance, and other
charges on the property.
B. a lease in which the tenant pays the landlord a
, Illinois Leasing Agent Exam
percentage of the monthly profits derived from the
tenant's commercial use of the property.
C. a lease in which the tenant pays rent plus mainte-
nance and property charges.
D. a lease-purchase agreement in which the landlord
agrees to apply part of the monthly rent toward the
ultimate purchase price of the property.
9. A commercial lease calls for a minimum rent of $1,200 C
per month plus 4% of the annual gross business ex-
ceeding $150,000. If the total rent paid at the end of
one year was $19,200, how much business did the
tenant do during the year?
A. $159,800
B. $250,200
C. $270,000
D. $279,200
10. In Illinois, which of these statements is TRUE regard- D
ing a lease for more than one year?
A. The lease trust include a provision for interest to be
paid on all security deposits.
B. The lease must be recorded to give actual notice of
the resident tenants right of possession.
C. The lease may be terminated only by written notice
to the tenant, even if it contains a definite expiration
date. D. The lease must be in writing and signed to be
enforceable in court.
11. A tenant has a one-year lease on an apartment. If the B
tenant fails to pay his rent when it is due, the landlord
may
, Illinois Leasing Agent Exam
A. terminate the tenant's lease without notice when
the rent is more than 10 days past due.
B. serve notice on the tenant to pay the delinquent
rent within five days. C. hire a moving company to
remove the tenant's furniture and personal property
from the premises.
D. serve notice on the tenant to pay the rent within five
days and proceed with a suit for possession regard-
less of whether or not the tenant pays the past-due
rent.
12. In Illinois, a landlord must give a tenant at least 60 A
days' written notice to terminate which of these ten-
ancies?
A. Tenancy from year to year
B. Tenancy at will
C. Tenancy for years
D. Tenancy at sufferance
13. A tenant's lease has expired. The tenant has neither D
vacated the premises nor negotiated a renewal lease,
and the landlord has declared that she does not want
the tenant to remain in the building. This form of
possession is called
A. an estate for years.
B. a periodic estate.
C. an estate at will.
D. an estate at sufferance.
14. A tenant's tenancy for years will expire in two weeks. A
The tenant plans to move to a larger apartment across
town when the current tenancy expires. What must
