Illinois Real Estate License Exam Prep | 140 Questions with 100% Correct Answers | Verified | Latest Update 2024

To practice real estate in Illinois, brokers must be sponsored by a ______. - Sponsoring broker Reciprocal applicants must associate with an Illinois sponsoring broker T/F - T When must licensees in Illinois notify the Division of Real Estate of a change to their office location? - Within 24 hours Reciprocal applicants must submit a written statement giving the state of Illinois permission to transfer your license from the other state. t/f - T What are the main ways that license laws ensure consumer protection? - They establish requirements, define activities, and set standards. Reciprocal applicants must file an application and pay a fee t/f - T Reciprocal applicants must provide proof of current active license in another state.t/f - T Reciprocal applicants must agree to abide by Illinois licensing laws t/f - T How long does a licensee relocating to Illinois have to complete all the reciprocity requirements? - One year