Illinois Leasing Agent Exam Prep – Complete
Study Guide & Practice Questions (2025/2026)
1. The lease contract stated 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: - correct answerBreach
2. In dealing with the public, a licensee: - correct answermay keep silent about a
material fact concerning the property if the client is the owner. d) may negotiate different
commissions with different owners.
3. Escrow monies: - correct answercould include security deposits as well as earnest
money.
4. An offer may be terminated: - correct answerif it is rejected; if it is changed; or if it is
revoked before acceptance.
A property management 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: - correct answerSteering
6. In a lease an owner may hold a future interest in the property known as: - correct
answerReversion are interest
7. Which of the following would be considered a dual agency? - correct answerA
licensee is representing both landlord and tenant in the same transaction.
8. To be enforced, the Statute of Frauds requires that all contracts for the sale or lease
of real estate be: - correct answerIn writing
9. A young couple with a 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? - correct answerThe rental agent should
have inquired about the couple's preference for apartments.
10. On Tuesday, the agent received an offer and a check for security deposit from a
renter. The owner accepted and signed the lease at 11 am on Wednesday. The agent
must: - correct answerdeposit the money in his escrow account by the close of business
on Thursday.
,11. The primary requirement of a contract would be: - correct answerOffer and
acceptance
12. Because of the complexity of laws that affect real estate today, a property manager
should be familiar with all of the following EXCEPT: - correct answerthe "Blue-Sky"
laws.
13. If a complaint goes to the federal courts based on the Civil Rights Act of 1866, the
complaint would be that there was discrimination based on: - correct answerRace
14. When a tenant, who has a written lease with the owner, sublets all or any part of the
premises: - correct answerthe original lease is unaffected unless it contains a provision
that prohibits such subletting.
15. Which of the following people may discriminate on the basis of race? - correct
answerNo one
16. It would be a violation of the antitrust laws for a broker to: a) charge one owner 7%
while charging another 6%. - correct answeragree to a minimum commission with other
brokers
17. The building leases prohibit tenants from altering the property in any way. One
tenant is now confined to a wheelchair, and cannot maneuver over the doorstep into the
apartment by herself. Nor can she use the bathroom facilities in her wheelchair. Which
of the following is true? - correct answerThe tenant is entitled to make the necessary
alterations.
18. Which of the following is illegal? - correct answerRefusing to hire an otherwise
qualified person because a disability will necessitate occasional time off work.
19. The amount of security deposit in a contract for the lease of real property is
determined by: - correct answerAgreement of the parties.
20. Broker Doug has an office in Chicago. A licensee with Broker Doug is the
designated agent of the owner. Another licensee with Broker Doug is the designated
agent of the renter. Which of the following statements is true? - correct answerIn Illinois,
this situation avoids dual agency for the broker.
21. A licensed agent selling or leasing his own home without using his broker's services
may discriminate on the basis of: - correct answerNon of the above
22. A woman advertises a 2-bedroom apartment for rent in her 6-unit building in
Chicago, stipulating "Adults Only." She is in violation of: - correct answerthe Illinois
Human Rights Act.
, 23. An Illinois resident has signed an agreement to rent a condominium in Florida for
the month of March. This arrangement is legally considered: - correct answerAn estate
for years
24. Commingling may be charged if the broker: - correct answerdeposits escrow money
in his personal account.
25. A licensee acting as an owner's property manager: - correct answermust not profit
from private contracts at the expense of the owner.
26. In Illinois, a real estate license would be required for which of the following
situations? - correct answerA person who plans to lease property for someone else and
for compensation
27. After the contract for lease has been signed by the landlord and renter, any
alterations to it must be approved and initialed by: - correct answerAll parties to the
contact.
28. A tenant has an estate for years. According to the written one-year lease, the
tenancy will expire on September 30. For the landlord to obtain possession as of that
date, he must give the tenant: - correct answerNo notice
29. The Illinois Law of Agency demands that agents do which of the following for their
principals? - correct answerAll of the above
30. An owner has traditionally rented to singles only in his large apartment complex.
The owner has turned away all married couples and an elderly single man. Which of the
following statements is true? - correct answerThe owner would be in violation of the
Illinois Human Rights Act.
31. A landlord was very pleased with the listing agent's performance. The landlord
offered a check for $300 as a thank you. What should the agent do in this situation? -
correct answerAsk that the check be rewritten to the brokerage.
32. A real estate licensee's relationship with an owner who has employed the licensee
to bring about the lease of the property is governed by the state license act which
includes: - correct answerThe law of agency.
33. An individual rents an apartment and has a one-year lease. The landlord sells the
building during the term of the lease. What effect does the sale have on the lease? -
correct answerThe sale does not affect the lease.
34. An agent leases a house and in the process misrepresents to the renter that the rent
for the home included all utilities and does so without the owner's knowledge. Which of
the following would be true according to the Illinois License Act? - correct answerThe
agent is liable; the owner is not.
Study Guide & Practice Questions (2025/2026)
1. The lease contract stated 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: - correct answerBreach
2. In dealing with the public, a licensee: - correct answermay keep silent about a
material fact concerning the property if the client is the owner. d) may negotiate different
commissions with different owners.
3. Escrow monies: - correct answercould include security deposits as well as earnest
money.
4. An offer may be terminated: - correct answerif it is rejected; if it is changed; or if it is
revoked before acceptance.
A property management 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: - correct answerSteering
6. In a lease an owner may hold a future interest in the property known as: - correct
answerReversion are interest
7. Which of the following would be considered a dual agency? - correct answerA
licensee is representing both landlord and tenant in the same transaction.
8. To be enforced, the Statute of Frauds requires that all contracts for the sale or lease
of real estate be: - correct answerIn writing
9. A young couple with a 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? - correct answerThe rental agent should
have inquired about the couple's preference for apartments.
10. On Tuesday, the agent received an offer and a check for security deposit from a
renter. The owner accepted and signed the lease at 11 am on Wednesday. The agent
must: - correct answerdeposit the money in his escrow account by the close of business
on Thursday.
,11. The primary requirement of a contract would be: - correct answerOffer and
acceptance
12. Because of the complexity of laws that affect real estate today, a property manager
should be familiar with all of the following EXCEPT: - correct answerthe "Blue-Sky"
laws.
13. If a complaint goes to the federal courts based on the Civil Rights Act of 1866, the
complaint would be that there was discrimination based on: - correct answerRace
14. When a tenant, who has a written lease with the owner, sublets all or any part of the
premises: - correct answerthe original lease is unaffected unless it contains a provision
that prohibits such subletting.
15. Which of the following people may discriminate on the basis of race? - correct
answerNo one
16. It would be a violation of the antitrust laws for a broker to: a) charge one owner 7%
while charging another 6%. - correct answeragree to a minimum commission with other
brokers
17. The building leases prohibit tenants from altering the property in any way. One
tenant is now confined to a wheelchair, and cannot maneuver over the doorstep into the
apartment by herself. Nor can she use the bathroom facilities in her wheelchair. Which
of the following is true? - correct answerThe tenant is entitled to make the necessary
alterations.
18. Which of the following is illegal? - correct answerRefusing to hire an otherwise
qualified person because a disability will necessitate occasional time off work.
19. The amount of security deposit in a contract for the lease of real property is
determined by: - correct answerAgreement of the parties.
20. Broker Doug has an office in Chicago. A licensee with Broker Doug is the
designated agent of the owner. Another licensee with Broker Doug is the designated
agent of the renter. Which of the following statements is true? - correct answerIn Illinois,
this situation avoids dual agency for the broker.
21. A licensed agent selling or leasing his own home without using his broker's services
may discriminate on the basis of: - correct answerNon of the above
22. A woman advertises a 2-bedroom apartment for rent in her 6-unit building in
Chicago, stipulating "Adults Only." She is in violation of: - correct answerthe Illinois
Human Rights Act.
, 23. An Illinois resident has signed an agreement to rent a condominium in Florida for
the month of March. This arrangement is legally considered: - correct answerAn estate
for years
24. Commingling may be charged if the broker: - correct answerdeposits escrow money
in his personal account.
25. A licensee acting as an owner's property manager: - correct answermust not profit
from private contracts at the expense of the owner.
26. In Illinois, a real estate license would be required for which of the following
situations? - correct answerA person who plans to lease property for someone else and
for compensation
27. After the contract for lease has been signed by the landlord and renter, any
alterations to it must be approved and initialed by: - correct answerAll parties to the
contact.
28. A tenant has an estate for years. According to the written one-year lease, the
tenancy will expire on September 30. For the landlord to obtain possession as of that
date, he must give the tenant: - correct answerNo notice
29. The Illinois Law of Agency demands that agents do which of the following for their
principals? - correct answerAll of the above
30. An owner has traditionally rented to singles only in his large apartment complex.
The owner has turned away all married couples and an elderly single man. Which of the
following statements is true? - correct answerThe owner would be in violation of the
Illinois Human Rights Act.
31. A landlord was very pleased with the listing agent's performance. The landlord
offered a check for $300 as a thank you. What should the agent do in this situation? -
correct answerAsk that the check be rewritten to the brokerage.
32. A real estate licensee's relationship with an owner who has employed the licensee
to bring about the lease of the property is governed by the state license act which
includes: - correct answerThe law of agency.
33. An individual rents an apartment and has a one-year lease. The landlord sells the
building during the term of the lease. What effect does the sale have on the lease? -
correct answerThe sale does not affect the lease.
34. An agent leases a house and in the process misrepresents to the renter that the rent
for the home included all utilities and does so without the owner's knowledge. Which of
the following would be true according to the Illinois License Act? - correct answerThe
agent is liable; the owner is not.
