ILLINOIS LEASING AGENT PRACTICE
EXAM QUESTIONS AND ANSWERS
WITH COMPLETE SOLUTIONS
LATEST UPDATED 2026
1. The lease required renters to provide the security deposit within five days,
but they failed to do so by day six. This is legally referred to as:
✔✔ Answer: Breach
2. In dealing with the public, a licensee:
✔✔ Answer: May negotiate different commissions with different owners
3. Escrow monies:
✔✔ Answer: Could include security deposits as well as earnest money
4. An offer may be terminated:
✔✔ Answer: If it is rejected, changed, or revoked before acceptance
A property manager places families with children only in certain buildings within
the same complex. This practice is:
✔✔ Answer: Steering
6. In a lease an owner may hold a future interest in the property known as: -
ANSWER ✔✔Reversion are interest
7. Which of the following would be considered a dual agency? -ANSWER ✔✔A
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: -ANSWER ✔✔In 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? -ANSWER
✔✔The 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: -ANSWER ✔✔deposit the money in his escrow account by the close
of business on Thursday.
11. The primary requirement of a contract would be: -ANSWER ✔✔Offer 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: -ANSWER ✔✔the
"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: -ANSWER
✔✔Race
14. When a tenant, who has a written lease with the owner, sublets all or any part
of the premises: -ANSWER ✔✔the original lease is unaffected unless it contains a
provision that prohibits such subletting.
EXAM QUESTIONS AND ANSWERS
WITH COMPLETE SOLUTIONS
LATEST UPDATED 2026
1. The lease required renters to provide the security deposit within five days,
but they failed to do so by day six. This is legally referred to as:
✔✔ Answer: Breach
2. In dealing with the public, a licensee:
✔✔ Answer: May negotiate different commissions with different owners
3. Escrow monies:
✔✔ Answer: Could include security deposits as well as earnest money
4. An offer may be terminated:
✔✔ Answer: If it is rejected, changed, or revoked before acceptance
A property manager places families with children only in certain buildings within
the same complex. This practice is:
✔✔ Answer: Steering
6. In a lease an owner may hold a future interest in the property known as: -
ANSWER ✔✔Reversion are interest
7. Which of the following would be considered a dual agency? -ANSWER ✔✔A
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: -ANSWER ✔✔In 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? -ANSWER
✔✔The 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: -ANSWER ✔✔deposit the money in his escrow account by the close
of business on Thursday.
11. The primary requirement of a contract would be: -ANSWER ✔✔Offer 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: -ANSWER ✔✔the
"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: -ANSWER
✔✔Race
14. When a tenant, who has a written lease with the owner, sublets all or any part
of the premises: -ANSWER ✔✔the original lease is unaffected unless it contains a
provision that prohibits such subletting.
