ILLINOIS STATE LAW PRACTICE
EXAM QUESTIONS AND ANSWERS
WITH COMPLETE SOLUTIONS
ALREADY PASSED!!!
Question 1: Under the rules of the Residential Real Property Disclosure Act (such
as the one enforced in Illinois), which of the following statements accurately
describes the mandatory legal procedure for filling out the property condition
disclosure form?
A) The real estate broker should fill out the form entirely on behalf of their
client to ensure technical accuracy
B) The form must be completed and signed exclusively by the seller, and it
should never be filled out by the real estate agent ✔✔
C) The local municipal housing inspector must complete the form after
conducting a physical walkthrough
D) The prospective buyer completes the form based on their initial open-
house observations
Question 2: An agent spends the entire weekend showing residential properties to
a couple relocating from out of town. On Sunday night, the buyers draft an offer
that is successfully accepted by the seller. On Tuesday morning, a relocation
network company calls the agent’s firm demanding a 25% broker-to-broker
referral fee because the buyer's employer has a corporate contract with their
relocation service. Which of the following establishes a legal safeguard that
prevents the relocation company from successfully interfering and demanding this
fee?
A) The agent has a verbal agreement to take the buyers out for dinner after
closing
B) The agent has an active, executed exclusive buyer agency agreement with
the buyers ✔✔
C) The buyer's company has a high-volume corporate turnover rate
, D) The transaction involves a conventional loan rather than an FHA loan
Legal Note: Relocation firms and outside networks are legally prohibited from
interfering with an established, exclusive contractual relationship between a buyer
and another real estate licensee. They cannot threaten punitive action against a
consumer or broker to disrupt an existing exclusive agreement.
The illinois Human rights act prohibits discrimination against the federally
protected classes, plus which of the following? -ANSWER ✔✔Martial status, age,
current military status, unfavorable military discharge, ancestry, sexual orientation
and order of protection
- The easiest way to remember this is by using acronym MAMA-SO. Unfavorable
military discharge does NOT include dishonorable.
Which of the following are required documents for an illinois sponsoring broker to
receive from each sponsored agent? -ANSWER ✔✔A signed copy of their
employment agreement
- Every agent must a signed contract with their sponsoring broker.
Illinois leasing agent licenses may be obtained with how many classroom hours
and must be completed within how many days of beginning leasing agent activity?
-ANSWER ✔✔15 hours within 120 days
- The class is 15 hours and a candidate must successfully complete the course and
pass the state exam within 120 days of actually starting work.
The commercial broker lien act covers which of the following properties? -
ANSWER ✔✔Warehouse
- A warehouse falls under the commercial broker lien act. Vacant land, 1-6 unit
residential building and land assessed as farmland are considered commercial.
EXAM QUESTIONS AND ANSWERS
WITH COMPLETE SOLUTIONS
ALREADY PASSED!!!
Question 1: Under the rules of the Residential Real Property Disclosure Act (such
as the one enforced in Illinois), which of the following statements accurately
describes the mandatory legal procedure for filling out the property condition
disclosure form?
A) The real estate broker should fill out the form entirely on behalf of their
client to ensure technical accuracy
B) The form must be completed and signed exclusively by the seller, and it
should never be filled out by the real estate agent ✔✔
C) The local municipal housing inspector must complete the form after
conducting a physical walkthrough
D) The prospective buyer completes the form based on their initial open-
house observations
Question 2: An agent spends the entire weekend showing residential properties to
a couple relocating from out of town. On Sunday night, the buyers draft an offer
that is successfully accepted by the seller. On Tuesday morning, a relocation
network company calls the agent’s firm demanding a 25% broker-to-broker
referral fee because the buyer's employer has a corporate contract with their
relocation service. Which of the following establishes a legal safeguard that
prevents the relocation company from successfully interfering and demanding this
fee?
A) The agent has a verbal agreement to take the buyers out for dinner after
closing
B) The agent has an active, executed exclusive buyer agency agreement with
the buyers ✔✔
C) The buyer's company has a high-volume corporate turnover rate
, D) The transaction involves a conventional loan rather than an FHA loan
Legal Note: Relocation firms and outside networks are legally prohibited from
interfering with an established, exclusive contractual relationship between a buyer
and another real estate licensee. They cannot threaten punitive action against a
consumer or broker to disrupt an existing exclusive agreement.
The illinois Human rights act prohibits discrimination against the federally
protected classes, plus which of the following? -ANSWER ✔✔Martial status, age,
current military status, unfavorable military discharge, ancestry, sexual orientation
and order of protection
- The easiest way to remember this is by using acronym MAMA-SO. Unfavorable
military discharge does NOT include dishonorable.
Which of the following are required documents for an illinois sponsoring broker to
receive from each sponsored agent? -ANSWER ✔✔A signed copy of their
employment agreement
- Every agent must a signed contract with their sponsoring broker.
Illinois leasing agent licenses may be obtained with how many classroom hours
and must be completed within how many days of beginning leasing agent activity?
-ANSWER ✔✔15 hours within 120 days
- The class is 15 hours and a candidate must successfully complete the course and
pass the state exam within 120 days of actually starting work.
The commercial broker lien act covers which of the following properties? -
ANSWER ✔✔Warehouse
- A warehouse falls under the commercial broker lien act. Vacant land, 1-6 unit
residential building and land assessed as farmland are considered commercial.