ILLINOIS LEASING AGENT practice exam
questions and answers, latest version, top-
rated A+
1. The lease contract stated that the renters would bring in
the security deposit within five days. It is now the sixth day
and the renters have not brought in the money. This is legally
referred to as:
Breach
2. In dealing with the public, a licensee:
may keep silent about a material fact concerning the property if
the client is the owner. d) may negotiate different commissions
with different owners.
3. Escrow monies:
could include security deposits as well as earnest money.
4. An offer may be terminated:
if it is rejected; if it is changed; or if it is revoked before
acceptance.
A property management company runs a complex of several
buildings, all belonging to the same owner and on the same
parcel of land. At the owner's request, the manager has made
apartments available to families with children in just two of
the buildings. This practice is:
Steering
6. In a lease an owner may hold a future interest in the
property known as:
Reversion are interest
7. Which of the following would be considered a dual
agency?
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:
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?
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:
deposit the money in his escrow account by the close of business
on Thursday.
11. The primary requirement of a contract would be:
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:
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:
Race
14. When a tenant, who has a written lease with the owner,
sublets all or any part of the premises:
the original lease is unaffected unless it contains a provision that
prohibits such subletting.
15. Which of the following people may discriminate on the
basis of race?
No one
16. It would be a violation of the antitrust laws for a broker to:
a) charge one owner 7% while charging another 6%.
agree to a minimum commission with other brokers
17. The building leases prohibit tenants from altering the
property in any way. One tenant is now confined to a
wheelchair, and cannot maneuver over the doorstep into the
questions and answers, latest version, top-
rated A+
1. The lease contract stated that the renters would bring in
the security deposit within five days. It is now the sixth day
and the renters have not brought in the money. This is legally
referred to as:
Breach
2. In dealing with the public, a licensee:
may keep silent about a material fact concerning the property if
the client is the owner. d) may negotiate different commissions
with different owners.
3. Escrow monies:
could include security deposits as well as earnest money.
4. An offer may be terminated:
if it is rejected; if it is changed; or if it is revoked before
acceptance.
A property management company runs a complex of several
buildings, all belonging to the same owner and on the same
parcel of land. At the owner's request, the manager has made
apartments available to families with children in just two of
the buildings. This practice is:
Steering
6. In a lease an owner may hold a future interest in the
property known as:
Reversion are interest
7. Which of the following would be considered a dual
agency?
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:
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?
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:
deposit the money in his escrow account by the close of business
on Thursday.
11. The primary requirement of a contract would be:
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:
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:
Race
14. When a tenant, who has a written lease with the owner,
sublets all or any part of the premises:
the original lease is unaffected unless it contains a provision that
prohibits such subletting.
15. Which of the following people may discriminate on the
basis of race?
No one
16. It would be a violation of the antitrust laws for a broker to:
a) charge one owner 7% while charging another 6%.
agree to a minimum commission with other brokers
17. The building leases prohibit tenants from altering the
property in any way. One tenant is now confined to a
wheelchair, and cannot maneuver over the doorstep into the
