Illinois Leasing agent Exam with accurate detailed solutions || || || || || || ||
the leasing agent license shall expire on July 31st of: - ✔✔even numbered years
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sponsoring brokers must submit the 45 day sponsor card to IDFPR within: - ✔✔24 hours of
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employment
leasing agent licensees must complete how many hours of containing education during the 24
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month period prior renewal: - ✔✔8 hours of continuing education
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The real estate recovery fund is: - ✔✔a fund at IDFPR to reimburse persons who suffer loss due
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to a licensees actions.
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The general requirements for a residential leasing agent to obtain a license include: -
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✔✔applicant must be 18 years of age, must have a highschool diploma or GED, must have a || || || || || || || || || || || || || || || || ||
sponsoring broker or firm. || || ||
True or False; All licensed agents must be sponsored by a sponsored broker or firm? - ✔✔true
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True or False; Leasing agents must be 21 years of age and only engage in the sale of residential
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property? - ✔✔false || ||
Disciplinary actions for leasing agents: - ✔✔Shall conform with disciplainary actions for licensed
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real estate brokers
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An applicant shall not practice as a student leasing agent _____________. - ✔✔more than once in
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a 24 month period.
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Which of the following is true about sponsor cards?
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, a-sponsor cards are only issued for residential leasing agents || || || || || || || ||
b-all sponsor cards are issued by IDFPR
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c- It is a temporary 45 day permit issued by the sponsoring broker
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d-it is a 180day student permit - ✔✔c
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The real estate recovery fund is maintained by IDFPR, who is eligible to collect damages from
|| || || || || || || || || || || || || || || ||
this account? - ✔✔Any person who suffered a loss based on a licensees conduct.
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How many times can a person take the state licensing exam before they have to repeat the course
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again? - ✔✔4 times || || ||
the IDFPR requires escrow records to be maintained by the sponsoring broker: - ✔✔5 years
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When must escrow money be deposited by the sponsoring broker? - ✔✔No later than the next
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business day following the transaction. || || || ||
Where is the original license for a leasing agent kept? - ✔✔In the sponsoring brokers principal
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office
Mary is sponsoring broker, she was found guilty of a license act violation. Her license was
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suspended. What is the status of the licenses that were sponsored by Mary? - ✔✔All sponsored || || || || || || || || || || || || || || || ||
licensees immediately go into inactive status. || || || || ||
Which of the following is not a blind ad? - ✔✔An advertisement for rental property with the
|| || || || || || || || || || || || || || || || ||
brokerage company name and phone number listed on the ad. || || || || || || || || ||
A licensee seeking an apartment encountered discrimination based on his age. Which one of the
|| || || || || || || || || || || || || || ||
following statements is correct regarding the real estate recovery fund? || || || || || || || || ||
a- the licensee may not file a complaint with IDFPR because of the real estate recovery fund is for
|| || || || || || || || || || || || || || || || || || ||
members of the general public and not licensees. || || || || || || ||
the leasing agent license shall expire on July 31st of: - ✔✔even numbered years
|| || || || || || || || || || || || ||
sponsoring brokers must submit the 45 day sponsor card to IDFPR within: - ✔✔24 hours of
|| || || || || || || || || || || || || || || ||
employment
leasing agent licensees must complete how many hours of containing education during the 24
|| || || || || || || || || || || || || ||
month period prior renewal: - ✔✔8 hours of continuing education
|| || || || || || || || ||
The real estate recovery fund is: - ✔✔a fund at IDFPR to reimburse persons who suffer loss due
|| || || || || || || || || || || || || || || || || ||
to a licensees actions.
|| || ||
The general requirements for a residential leasing agent to obtain a license include: -
|| || || || || || || || || || || || || ||
✔✔applicant must be 18 years of age, must have a highschool diploma or GED, must have a || || || || || || || || || || || || || || || || ||
sponsoring broker or firm. || || ||
True or False; All licensed agents must be sponsored by a sponsored broker or firm? - ✔✔true
|| || || || || || || || || || || || || || || ||
True or False; Leasing agents must be 21 years of age and only engage in the sale of residential
|| || || || || || || || || || || || || || || || || || ||
property? - ✔✔false || ||
Disciplinary actions for leasing agents: - ✔✔Shall conform with disciplainary actions for licensed
|| || || || || || || || || || || ||
real estate brokers
|| || ||
An applicant shall not practice as a student leasing agent _____________. - ✔✔more than once in
|| || || || || || || || || || || || || || ||
a 24 month period.
|| || || ||
Which of the following is true about sponsor cards?
|| || || || || || || ||
, a-sponsor cards are only issued for residential leasing agents || || || || || || || ||
b-all sponsor cards are issued by IDFPR
|| || || || || ||
c- It is a temporary 45 day permit issued by the sponsoring broker
|| || || || || || || || || || || ||
d-it is a 180day student permit - ✔✔c
|| || || || || || ||
The real estate recovery fund is maintained by IDFPR, who is eligible to collect damages from
|| || || || || || || || || || || || || || || ||
this account? - ✔✔Any person who suffered a loss based on a licensees conduct.
|| || || || || || || || || || || || ||
How many times can a person take the state licensing exam before they have to repeat the course
|| || || || || || || || || || || || || || || || || ||
again? - ✔✔4 times || || ||
the IDFPR requires escrow records to be maintained by the sponsoring broker: - ✔✔5 years
|| || || || || || || || || || || || || ||
When must escrow money be deposited by the sponsoring broker? - ✔✔No later than the next
|| || || || || || || || || || || || || || || ||
business day following the transaction. || || || ||
Where is the original license for a leasing agent kept? - ✔✔In the sponsoring brokers principal
|| || || || || || || || || || || || || || || ||
office
Mary is sponsoring broker, she was found guilty of a license act violation. Her license was
|| || || || || || || || || || || || || || || ||
suspended. What is the status of the licenses that were sponsored by Mary? - ✔✔All sponsored || || || || || || || || || || || || || || || ||
licensees immediately go into inactive status. || || || || ||
Which of the following is not a blind ad? - ✔✔An advertisement for rental property with the
|| || || || || || || || || || || || || || || || ||
brokerage company name and phone number listed on the ad. || || || || || || || || ||
A licensee seeking an apartment encountered discrimination based on his age. Which one of the
|| || || || || || || || || || || || || || ||
following statements is correct regarding the real estate recovery fund? || || || || || || || || ||
a- the licensee may not file a complaint with IDFPR because of the real estate recovery fund is for
|| || || || || || || || || || || || || || || || || || ||
members of the general public and not licensees. || || || || || || ||
