Illinois Real Estate Leasing Exam Prep questions with
verified answers
. tenant places four or more referrals in a 12-month period Ans✓✓✓ It is illegal
for an owner to pay a referral fee to a tenant for the referral of another tenant if
the:
Acceptance By Ratification Ans✓✓✓ The acceptance of lease terms that occurs
when a tenant takes possession of the property but does not sign a lease. This
form of acceptance is recognizable by the courts.
Acceptance Ans✓✓✓ is accomplished when the seller or landlord agrees to the
terms of the offer.
Accord and Satisfaction Ans✓✓✓ When all parties have agreed to a change in
one or more of the terms of a contract
Actual Eviction Ans✓✓✓ Court action initiated by the lessor to have a tenant
removed from the premises.
Administrative Law Judge (ALJ) Ans✓✓✓ A judge who hears complaints and
considers evidence regarding violations of the Fair Housing Act.
Age.
Ancestry.
Sexual orientation.
Marital status.
,Military status.
Unfavorable discharge from military service.
Order of protection status. Ans✓✓✓ Illinois Human Rights Act, Illinois also
prohibits discrimination based on:
Agency Ans✓✓✓ The legal relationship created when one person represents
another.
Air Rights Ans✓✓✓ Rights to use the space above the surface of land upward
into the sky.
Airspace Ans✓✓✓ The space above the surface extending into infinity.
Americans With Disabilities Act of 1990 Ans✓✓✓ A comprehensive civil rights
law for the protection of persons with physical and mental disabilities. This law
mandates equal access to jobs, public accommodations, government services,
public transportation and telecommunications.
Assignment Ans✓✓✓ The act of one party to a contract allowing someone else
to assume all of his/her rights under the contract.!
B. July 31st of even numbered years Ans✓✓✓ Illinois Residential leasing agent
licenses expire on:
Bilateral Contract Ans✓✓✓ A contract in which two parties exchange promises.
, Blockbusting Ans✓✓✓ Inducing an owner to sell or rent a dwelling by making
representations regarding entry of persons of a protected class, also referred to
as "panic peddling."
Breach of Contract Ans✓✓✓ The action or lack of action of one party to a
contract which violates the terms of the agreement
Brokerage Agreement Ans✓✓✓ The relationship created between a sponsoring
broker and any member of the public who is receiving real estate services through
the sponsoring broker or the broker's sponsored licensees.
Chattel Ans✓✓✓ Personal property, or objects which are not permanently
affixed to land.
Civil Rights Act of 1866 Ans✓✓✓ Guaranteed property rights to all citizens
regardless of race. This act specifically provides that all citizens shall have the
same right to inherit, purchase, sell or lease real and personal property.
Civils Rights Act of 1866 Ans✓✓✓ This act provided African Americans with the
same legal rights as white Americans
Client Ans✓✓✓ A person who is being represented by a licensee.
Commingling Ans✓✓✓ Depositing personal funds in a special escrow account
established to hold funds belonging to others.
Compensation Ans✓✓✓ Anything of value that is given in exchange for real
estate services.
verified answers
. tenant places four or more referrals in a 12-month period Ans✓✓✓ It is illegal
for an owner to pay a referral fee to a tenant for the referral of another tenant if
the:
Acceptance By Ratification Ans✓✓✓ The acceptance of lease terms that occurs
when a tenant takes possession of the property but does not sign a lease. This
form of acceptance is recognizable by the courts.
Acceptance Ans✓✓✓ is accomplished when the seller or landlord agrees to the
terms of the offer.
Accord and Satisfaction Ans✓✓✓ When all parties have agreed to a change in
one or more of the terms of a contract
Actual Eviction Ans✓✓✓ Court action initiated by the lessor to have a tenant
removed from the premises.
Administrative Law Judge (ALJ) Ans✓✓✓ A judge who hears complaints and
considers evidence regarding violations of the Fair Housing Act.
Age.
Ancestry.
Sexual orientation.
Marital status.
,Military status.
Unfavorable discharge from military service.
Order of protection status. Ans✓✓✓ Illinois Human Rights Act, Illinois also
prohibits discrimination based on:
Agency Ans✓✓✓ The legal relationship created when one person represents
another.
Air Rights Ans✓✓✓ Rights to use the space above the surface of land upward
into the sky.
Airspace Ans✓✓✓ The space above the surface extending into infinity.
Americans With Disabilities Act of 1990 Ans✓✓✓ A comprehensive civil rights
law for the protection of persons with physical and mental disabilities. This law
mandates equal access to jobs, public accommodations, government services,
public transportation and telecommunications.
Assignment Ans✓✓✓ The act of one party to a contract allowing someone else
to assume all of his/her rights under the contract.!
B. July 31st of even numbered years Ans✓✓✓ Illinois Residential leasing agent
licenses expire on:
Bilateral Contract Ans✓✓✓ A contract in which two parties exchange promises.
, Blockbusting Ans✓✓✓ Inducing an owner to sell or rent a dwelling by making
representations regarding entry of persons of a protected class, also referred to
as "panic peddling."
Breach of Contract Ans✓✓✓ The action or lack of action of one party to a
contract which violates the terms of the agreement
Brokerage Agreement Ans✓✓✓ The relationship created between a sponsoring
broker and any member of the public who is receiving real estate services through
the sponsoring broker or the broker's sponsored licensees.
Chattel Ans✓✓✓ Personal property, or objects which are not permanently
affixed to land.
Civil Rights Act of 1866 Ans✓✓✓ Guaranteed property rights to all citizens
regardless of race. This act specifically provides that all citizens shall have the
same right to inherit, purchase, sell or lease real and personal property.
Civils Rights Act of 1866 Ans✓✓✓ This act provided African Americans with the
same legal rights as white Americans
Client Ans✓✓✓ A person who is being represented by a licensee.
Commingling Ans✓✓✓ Depositing personal funds in a special escrow account
established to hold funds belonging to others.
Compensation Ans✓✓✓ Anything of value that is given in exchange for real
estate services.
