NATIONAL EXAM PRACTICE –
ILLINOIS QUESTIONS ND A SWERS
WITH COMPLETE SOLUTIONS 100%
CORRECT RATED A+ NEWLY
UPDATED 2026
Real Estate Licensing Requirements
Question: Cara is a licensed real estate broker in Illinois, and her license renewal
deadline is approaching in a few months. Under current Illinois Department of
Financial and Professional Regulation (IDFPR) rules, how many total hours of
approved continuing education (CE) must she complete and document during her
two-year renewal cycle?
A) 6 hours (Core only)
B) 12 hours (Core and Elective criteria) ✔✔
C) 24 hours (Broker Management criteria)
D) 30 hours (Post-license criteria)
(Note: Under Illinois real estate license law, standard brokers require 12 hours of
CE per renewal cycle, which includes a mandatory 4-hour Core course and 8
hours of Elective courses, including Sexual Harassment Prevention training).
Contract Clauses
Question: A real estate contract contains a specific provision stating that all dates
and timeframes specified in the agreement must be strictly adhered to, and that any
failure to perform within those exact deadlines constitutes a material breach. What
is this provision legally called?
A) Acceleration clause
B) Indemnification clause
C) Severability clause
D) Time is of the essence clause ✔✔
,Property Liens
Question: Liam is a general contractor who provides homeowners with a
mandatory statutory disclosure stating that he has the legal right to place an
involuntary, specific lien against their real property if they fail to pay for labor or
materials supplied. What type of lien is this?
A) Income tax lien
B) Judgment lien
C) Mechanic's lien ✔✔
D) Mortgage lien
Fair Housing Legislation
Question: The federal Fair Housing Act has been amended several times since its
inception. Which protected class was explicitly added to the law by the passage of
the Housing and Community Development Act of 1974?
A) Color
B) Disability
C) Religion
D) Sex ✔✔
**The Housing and Development Act of 1974 added sex as a protected class,
which helped prevent discrimination and sexual harassment for individuals seeking
housing.**
What title guarantees will Jody have when she buys a property at a foreclosure
auction?
a) The covenant against encumbrances
, b) The covenant of further assurances
c) The covenant of quiet enjoyement
d) The covenant of seisin -ANSWER ✔✔d) The covenant of seisin
**Grantor holds title for the covenant of seisin.**
Your buyer client Heather just signed a purchase agreement for a $520,000 home.
The LTVR is 60%. How must is Heather putting down on the purchase?
a) $208,000
b) $220,000
c) $300,000
d) $312,000 -ANSWER ✔✔a) $208,000
**It's a 60/40 loan. The LTVR is already 60% (0.6). You need to take the sale
price ($520,000) multiplied by the other 40% (0.4), which will give you the
amount the buyer is putting down on the house.**
(520,000 x 0.4) = $208,000
Because Shelby has a high prepayment penalty on her high-interest loan, she is
________.
a) Able to pay off the loan early without penalty.
b) Able to refinance whenever she wants without incurring any penalties.
c) Eligible for additional tax deductions.
ILLINOIS QUESTIONS ND A SWERS
WITH COMPLETE SOLUTIONS 100%
CORRECT RATED A+ NEWLY
UPDATED 2026
Real Estate Licensing Requirements
Question: Cara is a licensed real estate broker in Illinois, and her license renewal
deadline is approaching in a few months. Under current Illinois Department of
Financial and Professional Regulation (IDFPR) rules, how many total hours of
approved continuing education (CE) must she complete and document during her
two-year renewal cycle?
A) 6 hours (Core only)
B) 12 hours (Core and Elective criteria) ✔✔
C) 24 hours (Broker Management criteria)
D) 30 hours (Post-license criteria)
(Note: Under Illinois real estate license law, standard brokers require 12 hours of
CE per renewal cycle, which includes a mandatory 4-hour Core course and 8
hours of Elective courses, including Sexual Harassment Prevention training).
Contract Clauses
Question: A real estate contract contains a specific provision stating that all dates
and timeframes specified in the agreement must be strictly adhered to, and that any
failure to perform within those exact deadlines constitutes a material breach. What
is this provision legally called?
A) Acceleration clause
B) Indemnification clause
C) Severability clause
D) Time is of the essence clause ✔✔
,Property Liens
Question: Liam is a general contractor who provides homeowners with a
mandatory statutory disclosure stating that he has the legal right to place an
involuntary, specific lien against their real property if they fail to pay for labor or
materials supplied. What type of lien is this?
A) Income tax lien
B) Judgment lien
C) Mechanic's lien ✔✔
D) Mortgage lien
Fair Housing Legislation
Question: The federal Fair Housing Act has been amended several times since its
inception. Which protected class was explicitly added to the law by the passage of
the Housing and Community Development Act of 1974?
A) Color
B) Disability
C) Religion
D) Sex ✔✔
**The Housing and Development Act of 1974 added sex as a protected class,
which helped prevent discrimination and sexual harassment for individuals seeking
housing.**
What title guarantees will Jody have when she buys a property at a foreclosure
auction?
a) The covenant against encumbrances
, b) The covenant of further assurances
c) The covenant of quiet enjoyement
d) The covenant of seisin -ANSWER ✔✔d) The covenant of seisin
**Grantor holds title for the covenant of seisin.**
Your buyer client Heather just signed a purchase agreement for a $520,000 home.
The LTVR is 60%. How must is Heather putting down on the purchase?
a) $208,000
b) $220,000
c) $300,000
d) $312,000 -ANSWER ✔✔a) $208,000
**It's a 60/40 loan. The LTVR is already 60% (0.6). You need to take the sale
price ($520,000) multiplied by the other 40% (0.4), which will give you the
amount the buyer is putting down on the house.**
(520,000 x 0.4) = $208,000
Because Shelby has a high prepayment penalty on her high-interest loan, she is
________.
a) Able to pay off the loan early without penalty.
b) Able to refinance whenever she wants without incurring any penalties.
c) Eligible for additional tax deductions.