Illinois Leasing Agent Chapter 2 Exam
Questions and Answers 100% Solved
Stigmatized property - ✔✔A property that has an undesirable reputation
because a violent crime or suicide occurred in the property.
Antitrust - ✔✔Laws designated to preserve the free enterprise of the open
marketplace by forbidding certain private conspiracies and combinations
created to minimize competition.
Material Defect - ✔✔Facts about a property that could influences a buyer's
decision to make an offer.
Lead-Based Paint Hazard Reduction Act - ✔✔Persons selling or leasing
property built before 1978 must disclose the known presence of lead-based
paint and provide any relevant records.
Mold - ✔✔Fungi that can found almost anywhere and can grow on almost
any organic substance.
RESPA - ✔✔The federal law that requires certain disclosures about
mortgage loan settlements and prohibits kickbacks and certain kinds of
referral fees.
1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, CAN-SPAM - ✔✔Law that establishes requirements for commercial email,
including eBlasts.
Do-Not-Call Registry - ✔✔The federal law that allows consumers to register
their phone numbers to alleviate calls from telemarketers.
Fair Credit Reporting Act - ✔✔The law that spells out the responsibilities of
users of credit information.
Radon - ✔✔A naturally occurring gas that is suspected of causing lung
cancer.
Opt-out - ✔✔The right of a consumer to stop commercial emails from being
sent to the
Price fixing and boycott issues are the two components of the Sherman Act
which passed in 1890. T F - ✔✔True
Two brokers deciding to cooperate unfavorably with a new company is an
example of an antitrust violation. T F - ✔✔True
On a listing appointment it's okay to say to the clients: "Our commission
rates are standard for the area." T F - ✔✔False
Licensees must offer the same services to everyone to avoid claims of
disparate treatment. T F - ✔✔True
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
Questions and Answers 100% Solved
Stigmatized property - ✔✔A property that has an undesirable reputation
because a violent crime or suicide occurred in the property.
Antitrust - ✔✔Laws designated to preserve the free enterprise of the open
marketplace by forbidding certain private conspiracies and combinations
created to minimize competition.
Material Defect - ✔✔Facts about a property that could influences a buyer's
decision to make an offer.
Lead-Based Paint Hazard Reduction Act - ✔✔Persons selling or leasing
property built before 1978 must disclose the known presence of lead-based
paint and provide any relevant records.
Mold - ✔✔Fungi that can found almost anywhere and can grow on almost
any organic substance.
RESPA - ✔✔The federal law that requires certain disclosures about
mortgage loan settlements and prohibits kickbacks and certain kinds of
referral fees.
1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, CAN-SPAM - ✔✔Law that establishes requirements for commercial email,
including eBlasts.
Do-Not-Call Registry - ✔✔The federal law that allows consumers to register
their phone numbers to alleviate calls from telemarketers.
Fair Credit Reporting Act - ✔✔The law that spells out the responsibilities of
users of credit information.
Radon - ✔✔A naturally occurring gas that is suspected of causing lung
cancer.
Opt-out - ✔✔The right of a consumer to stop commercial emails from being
sent to the
Price fixing and boycott issues are the two components of the Sherman Act
which passed in 1890. T F - ✔✔True
Two brokers deciding to cooperate unfavorably with a new company is an
example of an antitrust violation. T F - ✔✔True
On a listing appointment it's okay to say to the clients: "Our commission
rates are standard for the area." T F - ✔✔False
Licensees must offer the same services to everyone to avoid claims of
disparate treatment. T F - ✔✔True
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
