Illinois State Test 2026/2027 verified
with correct answers A+ Graded
How far back does a typical title search in Illinois go? -answer>>>40 Years
Who is the recorder of deeds for the county in Illinois? -answer>>>County Clerk
Statutory method of proration in Illinois equation: -answer>>>Yearly Charge divided by
360
State and County transfer taxes in Illinois are usually paid by: -answer>>>The Seller
Which of the following best describes the status of the common law of agency in Illinois
as it relates to broker/client relationships? -answer>>>It has been replaced by statutory
rules
Acts that a licensee may perform for a consumer that are informative only are referred
under Illinois law as: -answer>>>Ministerial
Under Illinois law, the person who receives brokerage services but is not represented by
the broker is referred to as a: -answer>>>Consumer
Illinois law required brokers to deliver true copies of all documents to the parties within
how many hours of their signing? -answer>>>24 Hours
Illinois law does not recognize? -answer>>>Undisclosed dual agency
Under Illinois law, a licensee owes a third party: -answer>>>Disclosure of all known
adverse facts about the property's physical condition
Illinois Real Estate License Act is administered by the: -answer>>>Department of
Financial and Professional Regulation (IDFPR)
Who may legally collect a commission from a seller on a sale of real estate in Illinois? -
answer>>>A licensed managing broker ONLY
Chicago Bar Association et al. v. Quinlan and Tyson, Inc. held that: -answer>>>Real
Estate licensees cannot draft legal documents
What is true of listing agreements in Illinois? -answer>>>All exclusive listing agreements
must be in writing to be legal.
What is true of guaranteed sales agreements in Illinois? -answer>>>Must be in writing
with correct answers A+ Graded
How far back does a typical title search in Illinois go? -answer>>>40 Years
Who is the recorder of deeds for the county in Illinois? -answer>>>County Clerk
Statutory method of proration in Illinois equation: -answer>>>Yearly Charge divided by
360
State and County transfer taxes in Illinois are usually paid by: -answer>>>The Seller
Which of the following best describes the status of the common law of agency in Illinois
as it relates to broker/client relationships? -answer>>>It has been replaced by statutory
rules
Acts that a licensee may perform for a consumer that are informative only are referred
under Illinois law as: -answer>>>Ministerial
Under Illinois law, the person who receives brokerage services but is not represented by
the broker is referred to as a: -answer>>>Consumer
Illinois law required brokers to deliver true copies of all documents to the parties within
how many hours of their signing? -answer>>>24 Hours
Illinois law does not recognize? -answer>>>Undisclosed dual agency
Under Illinois law, a licensee owes a third party: -answer>>>Disclosure of all known
adverse facts about the property's physical condition
Illinois Real Estate License Act is administered by the: -answer>>>Department of
Financial and Professional Regulation (IDFPR)
Who may legally collect a commission from a seller on a sale of real estate in Illinois? -
answer>>>A licensed managing broker ONLY
Chicago Bar Association et al. v. Quinlan and Tyson, Inc. held that: -answer>>>Real
Estate licensees cannot draft legal documents
What is true of listing agreements in Illinois? -answer>>>All exclusive listing agreements
must be in writing to be legal.
What is true of guaranteed sales agreements in Illinois? -answer>>>Must be in writing
