CERTIFICATION FOR RADIOLOGY EQUIPMENT SPECIALISTS
EXAM STUDY GUIDE WITH VERIFIED QUESTIONS CORRECT
ANSWERS | 2026/2027 LATEST UPDATE | ALREADY GRADED A+
1. The real estate commissions that are paid by the public to brokers are regulated by:
A) The Illinois Department of Financial and Professional Regulations
B) Local Boards of Realtors
C) The Illinois Association of Realtors
D) None of the above -
ANSWER
D) None of the above
Since commissions are viewed as compensation for services, there are no limits as to the amount the
broker may charge.
Real estate commissions that are paid by the general public to an employed real estate broker are
not regulated. Commissions are established by negotiation between the employed sponsoring broker
and the seller or buyer (the principal).
2. When a Licensee terminates his employment with his broker, his broker must:
A) Remove the Licensee's license from the wall, endorse it and give it to the Licensee
B) Remit the original Licensee's license to IDFPR within 10 days
C) Send the Licensee's sponsor card to IDFPR within 2 days
D) Telephone the information to 1DFPR -
ANSWER
A) Remove the Licensee's license from the wall, endorse it and give it to the Licensee
When a licensee terminates employment with a broker, the broker must endorse the license and give
the original endorsed license to the licensee
3. A real estate transaction closed on January 31. On the closing statement, the buyer will be
credited with:
, 1 month of tax payments
11 months of tax payments
12 months of tax payments
13 months of tax payments -
ANSWER
13 months of tax payments
In a real estate transaction that closes on January 31st of a given year, the closing statement would
reflect that the buyer is to be credited with 13 months taxes. In Illinois, taxes are paid in arrears, so it
would equal 12 months of taxes from the previous year and 1 month of taxes from the present year.
4. Mary Smith, who is the wife of John Smith, is the beneficiary of property held in trust by the
Illinois Land Trust. If this property is conveyed to Helen and George Jones, which of the following
must occur?
A) The trustee's deed must be signed by Mary Smith
B) The trustee's deed must be signed by the trustee
C) A warranty deed must be signed by Mary Smith
D) A warranty deed must be signed by Mary Smith and her husband John Smith -
ANSWER
B) The trustee's deed must be signed by the trustee
the legal title to the property is invested in the trustee, whereas, the beneficial interest of the trust
accrues to the beneficiary.
5. On a piece of property that was owned as of January 2010, counties that do not participate in the
accelerated tax payment system would have the first payment due:
January 2010
June 2010
January 2011
June 2011 -
EXAM STUDY GUIDE WITH VERIFIED QUESTIONS CORRECT
ANSWERS | 2026/2027 LATEST UPDATE | ALREADY GRADED A+
1. The real estate commissions that are paid by the public to brokers are regulated by:
A) The Illinois Department of Financial and Professional Regulations
B) Local Boards of Realtors
C) The Illinois Association of Realtors
D) None of the above -
ANSWER
D) None of the above
Since commissions are viewed as compensation for services, there are no limits as to the amount the
broker may charge.
Real estate commissions that are paid by the general public to an employed real estate broker are
not regulated. Commissions are established by negotiation between the employed sponsoring broker
and the seller or buyer (the principal).
2. When a Licensee terminates his employment with his broker, his broker must:
A) Remove the Licensee's license from the wall, endorse it and give it to the Licensee
B) Remit the original Licensee's license to IDFPR within 10 days
C) Send the Licensee's sponsor card to IDFPR within 2 days
D) Telephone the information to 1DFPR -
ANSWER
A) Remove the Licensee's license from the wall, endorse it and give it to the Licensee
When a licensee terminates employment with a broker, the broker must endorse the license and give
the original endorsed license to the licensee
3. A real estate transaction closed on January 31. On the closing statement, the buyer will be
credited with:
, 1 month of tax payments
11 months of tax payments
12 months of tax payments
13 months of tax payments -
ANSWER
13 months of tax payments
In a real estate transaction that closes on January 31st of a given year, the closing statement would
reflect that the buyer is to be credited with 13 months taxes. In Illinois, taxes are paid in arrears, so it
would equal 12 months of taxes from the previous year and 1 month of taxes from the present year.
4. Mary Smith, who is the wife of John Smith, is the beneficiary of property held in trust by the
Illinois Land Trust. If this property is conveyed to Helen and George Jones, which of the following
must occur?
A) The trustee's deed must be signed by Mary Smith
B) The trustee's deed must be signed by the trustee
C) A warranty deed must be signed by Mary Smith
D) A warranty deed must be signed by Mary Smith and her husband John Smith -
ANSWER
B) The trustee's deed must be signed by the trustee
the legal title to the property is invested in the trustee, whereas, the beneficial interest of the trust
accrues to the beneficiary.
5. On a piece of property that was owned as of January 2010, counties that do not participate in the
accelerated tax payment system would have the first payment due:
January 2010
June 2010
January 2011
June 2011 -
