Real Estate Final Exam – Illinois with Complete Questions and Answers (Graded A)

Real Estate Final Exam – Illinois with Complete Questions and Answers (Graded A)Real Estate Final Exam – Illinois with Complete Questions and Answers (Graded A)Real Estate Final Exam – Illinois with Complete Questions and Answers (Graded A)Real Estate Final Exam – Illinois with Complete Questions and Answers (Graded A)The purpose of a recovery fund is to: A. protect damaged licensees from clients who fail to pay earned commission. B. assist in the liquidity of a troubled brokerage through low-interest loans. C. ensure that judgements against licensees will be collectible within certain limits. D. replenish losses in escrow accounts of brokerages found to have mismanaged monies. - ANSWER-C. ensure that judgements against licensees will be collectible within certain limits. A licensee has a vacancy on an apartment building she owns as a partner with an unlicensed family member. The unlicensed partner is responsible for all property management aspects, including the rental of units. In this case: A. the licensee does not have to disclose her status as a licensee because she is not