Illinois Real Estate Leasing Agent Exam
Questions With Correct Answers
Chattels /- /verified /answer(s)-✔✔items /of /personal /property /(chairs, /tables, /trade /fixtures,
/etc.)
Manufactured /Housing /- /verified /answer(s)-✔✔dwellings /built /off-site /and /trucked /to /a /lot /to
/be /assembled /(ex: /mobile /homes)
Plants /that /fall /under /"Real /Estate" /- /verified /answer(s)-✔✔Trees, /permanent /shrubbery, /etc.
/that /are /attached /to /the /land
Plants /that /fall /under /"Personal /Property" /- /verified /answer(s)-✔✔Annually /cultivated /crops
/(emblements)
Severance /- /verified /answer(s)-✔✔When /real /property /turns /into /personal /property /(ex: /if /an
/owner /cuts /a /tree /down /on /his/her /property. /The /tree /is /now /personal /property /because /it's
/not /attached /to /the /land)
Annexation /- /verified /answer(s)-✔✔When /personal /property /turns /into /real /property /(ex: /a
/landowner /turns /cement /into /a /sidewalk. /The /sidewalk /is /now /real /property /because /it's
/attached /to /the /land)
Fixture /- /verified /answer(s)-✔✔Personal /property /that /has /been /affixed /to /a /building /and
/becomes /real /property /by /law /(ex: /heating, /elevators, /radiators, /kitchen /cabinets, /lights,
/doors, /plumbing, /etc.)
,Testing /methods /of /Fixtures: /- /verified /answer(s)-✔✔1. /Method /of /attachment /(can /the /item
/be /removed /without /damage?)
2. /Adaptation /to /real /estate /(is /this /real /or /personal /property?)
3. /Agreement /(have /both /parties /agreed /to /real /or /personal /property?)
Trade /Fixtures /- /verified /answer(s)-✔✔property /used /in /the /course /of /business /(article /owned
/by /tenant /and /attached /to /rented /space; /bowling /alleys, /store /shelves, /bars, /etc.)
Accession /- /verified /answer(s)-✔✔trade /fixtures /that /aren't /removed /become /real /property
/of /the /landlord
Attachment /- /verified /answer(s)-✔✔personal /property /that /turns /into /real /property
Contract /- /verified /answer(s)-✔✔a /voluntary /agreement /between /legally /competent /parties
/to /perform /some /legal /act
A /contract /must /be: /- /verified /answer(s)-✔✔1. /Voluntary
2. /An /agreement/promise
3. /Made /by /legally /competent /parties
4. /Be /supported /by /legal /consideration
5. /Have /to /do /with /a /legal /act
Express /contract /- /verified /answer(s)-✔✔When /parties /state /the /terms /and /show /their
/intentions /in /words /(oral /or /written)
, Implied /Contract /- /verified /answer(s)-✔✔The /agreement /of /the /parties /is /demonstrated /by
/acts /and /conduct /(buying /food /at /a /restaurant /and /expected /to /pay /the /bill /at /the /end)
Bilateral /Contract /- /verified /answer(s)-✔✔Both /parties /promise /to /do /something /(real /estate
/is /bilateral)
Unilateral /Contract /- /verified /answer(s)-✔✔One-sided /agreement /(an /open /listing /contract)
Executed /Contract /- /verified /answer(s)-✔✔All /parties /have /fulfilled /their /promises /(the
/contract /has /been /performed)
Executory /Contract /- /verified /answer(s)-✔✔One /or /both /parties /still /have /an /act /to /perform
/(sales /contract)
Contract /Formation /Steps /- /verified /answer(s)-✔✔1. /Preformation
2. /Formation
3. /Postformation
Preformation /of /Contract /Elements /- /verified /answer(s)-✔✔1. /Offer
2. /Acceptance
3. /Consideration
4. /Legal /Purpose
5. /Legal /Capacity
Formation /of /Contracts /Classification /- /verified /answer(s)-✔✔1. /Valid
2. /Void
3. /Voidable
Questions With Correct Answers
Chattels /- /verified /answer(s)-✔✔items /of /personal /property /(chairs, /tables, /trade /fixtures,
/etc.)
Manufactured /Housing /- /verified /answer(s)-✔✔dwellings /built /off-site /and /trucked /to /a /lot /to
/be /assembled /(ex: /mobile /homes)
Plants /that /fall /under /"Real /Estate" /- /verified /answer(s)-✔✔Trees, /permanent /shrubbery, /etc.
/that /are /attached /to /the /land
Plants /that /fall /under /"Personal /Property" /- /verified /answer(s)-✔✔Annually /cultivated /crops
/(emblements)
Severance /- /verified /answer(s)-✔✔When /real /property /turns /into /personal /property /(ex: /if /an
/owner /cuts /a /tree /down /on /his/her /property. /The /tree /is /now /personal /property /because /it's
/not /attached /to /the /land)
Annexation /- /verified /answer(s)-✔✔When /personal /property /turns /into /real /property /(ex: /a
/landowner /turns /cement /into /a /sidewalk. /The /sidewalk /is /now /real /property /because /it's
/attached /to /the /land)
Fixture /- /verified /answer(s)-✔✔Personal /property /that /has /been /affixed /to /a /building /and
/becomes /real /property /by /law /(ex: /heating, /elevators, /radiators, /kitchen /cabinets, /lights,
/doors, /plumbing, /etc.)
,Testing /methods /of /Fixtures: /- /verified /answer(s)-✔✔1. /Method /of /attachment /(can /the /item
/be /removed /without /damage?)
2. /Adaptation /to /real /estate /(is /this /real /or /personal /property?)
3. /Agreement /(have /both /parties /agreed /to /real /or /personal /property?)
Trade /Fixtures /- /verified /answer(s)-✔✔property /used /in /the /course /of /business /(article /owned
/by /tenant /and /attached /to /rented /space; /bowling /alleys, /store /shelves, /bars, /etc.)
Accession /- /verified /answer(s)-✔✔trade /fixtures /that /aren't /removed /become /real /property
/of /the /landlord
Attachment /- /verified /answer(s)-✔✔personal /property /that /turns /into /real /property
Contract /- /verified /answer(s)-✔✔a /voluntary /agreement /between /legally /competent /parties
/to /perform /some /legal /act
A /contract /must /be: /- /verified /answer(s)-✔✔1. /Voluntary
2. /An /agreement/promise
3. /Made /by /legally /competent /parties
4. /Be /supported /by /legal /consideration
5. /Have /to /do /with /a /legal /act
Express /contract /- /verified /answer(s)-✔✔When /parties /state /the /terms /and /show /their
/intentions /in /words /(oral /or /written)
, Implied /Contract /- /verified /answer(s)-✔✔The /agreement /of /the /parties /is /demonstrated /by
/acts /and /conduct /(buying /food /at /a /restaurant /and /expected /to /pay /the /bill /at /the /end)
Bilateral /Contract /- /verified /answer(s)-✔✔Both /parties /promise /to /do /something /(real /estate
/is /bilateral)
Unilateral /Contract /- /verified /answer(s)-✔✔One-sided /agreement /(an /open /listing /contract)
Executed /Contract /- /verified /answer(s)-✔✔All /parties /have /fulfilled /their /promises /(the
/contract /has /been /performed)
Executory /Contract /- /verified /answer(s)-✔✔One /or /both /parties /still /have /an /act /to /perform
/(sales /contract)
Contract /Formation /Steps /- /verified /answer(s)-✔✔1. /Preformation
2. /Formation
3. /Postformation
Preformation /of /Contract /Elements /- /verified /answer(s)-✔✔1. /Offer
2. /Acceptance
3. /Consideration
4. /Legal /Purpose
5. /Legal /Capacity
Formation /of /Contracts /Classification /- /verified /answer(s)-✔✔1. /Valid
2. /Void
3. /Voidable
