Illinois Real Estate Exam Pre-Test Questions: Licensing
Requirements| Practice exam questions, answers and
verified solutions 2026| grade a+.
Upon renewal a real estate broker's license, a licensee writes a bad check to the
IDFPR (Illinois Department of Financial Professional Regulation). In this
circumstance, the licensee faces
A) automatically having her license revoked.
unselected Option A is automatically having her license revoked. is incorrect
B)
prosecution by the attorney general.
unselected Option B is prosecution by the attorney general. is incorrect
C)
paying a $50 fine due within 30 days or face license termination.
selected Option C is paying a $50 fine due within 30 days or face license
termination. is correct
D)
paying a $500 fine and then going through the discipline proceedings. - ANSWER: C
There is a woman that is really good at locating temporary housing for friends. They
have encouraged her to start a small home business. What is the first thing she
should do?
A)
Get a real estate license
B)
Take MLS classes
C)
Talk to prospective building owners
,D)
Plan her advertising - ANSWER: A
Which of these BEST describes a licensee who may elect to use a "corporation or
other business entity" to receive compensation earned?
A)
The members of a team from their sponsoring broker.
B)
The combination of multiple teams within the same brokerage.
C)
The sole licensee from the party that agreed to pay the commission.
D)
The sole licensee from their sponsoring broker. - ANSWER: D
Licensed brokers may hold a concurrent license with more than one Illinois
brokerage under which of the following circumstances?
A)
With the permission of IDFPR (Illinois Department of Financial Professional
Regulation)
B)
With the written consent of the brokerages being represented
C)
Under no circumstances
D)
With the permission of her sales manager - ANSWER: C
The educational requirement for a licensee renewing their broker license for the
first time consist of
A)
core curriculum: a minimum of 4 continuing education credit hours per two year.
B)
, 12 hours of continuing education.
C)
elective curriculum: no less than 8 continuing education credit hours per two year.
D)
45 hours of post licensing education. - ANSWER: D
The unlicensed practice of real estate is a civil penalty in an amount
A)
equal to the commission earned.
B)
not to exceed $25,000.
C)
$10,000 for each offense.
D)
not to exceed $25,000 for each offense. - ANSWER: D
A person successfully completed her real estate education requirement on
November 1, 2020. What is the latest date on which she may take the broker's
exam?
A)
By November 1, 2024
B)
By December 1, 2020
C)
By October 31, 2025
D)
By October 31, 2022 - ANSWER: D
Which of the following course requirements must be completed prior to a broker
first renewal of that license?
A)
Requirements| Practice exam questions, answers and
verified solutions 2026| grade a+.
Upon renewal a real estate broker's license, a licensee writes a bad check to the
IDFPR (Illinois Department of Financial Professional Regulation). In this
circumstance, the licensee faces
A) automatically having her license revoked.
unselected Option A is automatically having her license revoked. is incorrect
B)
prosecution by the attorney general.
unselected Option B is prosecution by the attorney general. is incorrect
C)
paying a $50 fine due within 30 days or face license termination.
selected Option C is paying a $50 fine due within 30 days or face license
termination. is correct
D)
paying a $500 fine and then going through the discipline proceedings. - ANSWER: C
There is a woman that is really good at locating temporary housing for friends. They
have encouraged her to start a small home business. What is the first thing she
should do?
A)
Get a real estate license
B)
Take MLS classes
C)
Talk to prospective building owners
,D)
Plan her advertising - ANSWER: A
Which of these BEST describes a licensee who may elect to use a "corporation or
other business entity" to receive compensation earned?
A)
The members of a team from their sponsoring broker.
B)
The combination of multiple teams within the same brokerage.
C)
The sole licensee from the party that agreed to pay the commission.
D)
The sole licensee from their sponsoring broker. - ANSWER: D
Licensed brokers may hold a concurrent license with more than one Illinois
brokerage under which of the following circumstances?
A)
With the permission of IDFPR (Illinois Department of Financial Professional
Regulation)
B)
With the written consent of the brokerages being represented
C)
Under no circumstances
D)
With the permission of her sales manager - ANSWER: C
The educational requirement for a licensee renewing their broker license for the
first time consist of
A)
core curriculum: a minimum of 4 continuing education credit hours per two year.
B)
, 12 hours of continuing education.
C)
elective curriculum: no less than 8 continuing education credit hours per two year.
D)
45 hours of post licensing education. - ANSWER: D
The unlicensed practice of real estate is a civil penalty in an amount
A)
equal to the commission earned.
B)
not to exceed $25,000.
C)
$10,000 for each offense.
D)
not to exceed $25,000 for each offense. - ANSWER: D
A person successfully completed her real estate education requirement on
November 1, 2020. What is the latest date on which she may take the broker's
exam?
A)
By November 1, 2024
B)
By December 1, 2020
C)
By October 31, 2025
D)
By October 31, 2022 - ANSWER: D
Which of the following course requirements must be completed prior to a broker
first renewal of that license?
A)
