LEASING EXAM - UNIT 1 QUESTIONS
AND ANSWERS 100% CORRECT!!
, The Illinois Real Estate License Act allows landlords to pay a referral fee to tenants who
refer a prospective tenant for a unit in the same building or complex - ANSWER True
The Illinois Real Estate License Act allows landlords to pay a referral fee to tenants who
refer a prospective tenant for a unit in the same building or complex - ANSWER True
Activities of a leasing agent include leasing residential apartments and collection rents
for the use of residential apartments - ANSWER True
Licensed leasing agents must be sponsored and employed by a sponsoring broker -
ANSWER True
A person may engage in residential leasing for a period of 180 consecutive days without
being licensed so long as the person is acting under the supervision of a broker and the
broker has notified the IDFPR that the person is pursuing licensure - ANSWER False
(120)
Applicants for a leasing agent license must successfully complete a 45-hour
transactions course applicable to leasing agents - ANSWER False (15)
Leasing Agents have no exemptions from licensure under the Act. - ANSWER False
A leasing agent may perform activities as a licensee only for their sponsoring broker -
ANSWER True
The Act does not require leasing agents to have a written employment agreement
between themselves and their employing broker. - ANSWER False
Leasing agents are required to disclose their status as a licensee just as a salesperson
or broker would - ANSWER True
A leasing agent may not accept compensation for the performance of leasing agent
activities except from the sponsoring broker - ANSWER True
Leasing Agents must take 24 hours of continuing education each year - ANSWER False
(6)
AND ANSWERS 100% CORRECT!!
, The Illinois Real Estate License Act allows landlords to pay a referral fee to tenants who
refer a prospective tenant for a unit in the same building or complex - ANSWER True
The Illinois Real Estate License Act allows landlords to pay a referral fee to tenants who
refer a prospective tenant for a unit in the same building or complex - ANSWER True
Activities of a leasing agent include leasing residential apartments and collection rents
for the use of residential apartments - ANSWER True
Licensed leasing agents must be sponsored and employed by a sponsoring broker -
ANSWER True
A person may engage in residential leasing for a period of 180 consecutive days without
being licensed so long as the person is acting under the supervision of a broker and the
broker has notified the IDFPR that the person is pursuing licensure - ANSWER False
(120)
Applicants for a leasing agent license must successfully complete a 45-hour
transactions course applicable to leasing agents - ANSWER False (15)
Leasing Agents have no exemptions from licensure under the Act. - ANSWER False
A leasing agent may perform activities as a licensee only for their sponsoring broker -
ANSWER True
The Act does not require leasing agents to have a written employment agreement
between themselves and their employing broker. - ANSWER False
Leasing agents are required to disclose their status as a licensee just as a salesperson
or broker would - ANSWER True
A leasing agent may not accept compensation for the performance of leasing agent
activities except from the sponsoring broker - ANSWER True
Leasing Agents must take 24 hours of continuing education each year - ANSWER False
(6)
