1|Page
Illinois Property Manager Licensing Examination Study Guide | Comprehensive Property
Management License Exam Prep | Practice Questions with Detailed Answer Explanations
& Rationales | Illinois Real Estate Laws, Leasing, Fair Housing, Property Operations, Risk
Management, Ethics, Landlord-Tenant Regulations & Licensing Review | Digital PDF
Download | Latest Updated Edition
1. In Illinois, the real estate license law is administered by the...?
A) Department of Financial and Professional Regulation (Bureau of Real Estate Professions)
B) Illinois Supreme Court
C) Illinois Real Estate Commission
D) Department of Commerce and Economic Opportunity
Correct Answer: A) Department of Financial and Professional Regulation (Bureau of Real
Estate Professions)
The Illinois Real Estate License Act of 2000 is administered by the IDFPR's Bureau of Real
Estate Professions, which oversees licensing, enforcement, and regulatory compliance for all
real estate professionals in the state.
2. How are the nine members of the Real Estate Administration and Disciplinary Board selected?
A) Elected by licensed real estate brokers
B) Appointed by the Illinois General Assembly
C) Selected by the Governor
D) Chosen by the IDFPR Director
Correct Answer: C) Selected by the Governor
The Governor appoints the nine members of the Real Estate Administration and Disciplinary
Board, who serve to advise the IDFPR on matters related to real estate licensing and
professional discipline.
,2|Page
3. What is the name given to the Illinois license laws under which brokers and salespeople
practice?
A) Illinois Real Estate Code of 1988
B) Real Estate License Act of 2000
C) Illinois Property Management Act
D) Real Estate Practice Act of 1995
Correct Answer: B) Real Estate License Act of 2000
The Real Estate License Act of 2000 is the primary legislation governing real estate licensing,
practice standards, and disciplinary procedures for brokers and salespeople operating in Illinois.
4. After May 1, 2011, the new license categories in Illinois are:
A) Broker and Salesperson
B) Managing Broker and Broker
C) Principal Broker and Associate Broker
D) Real Estate Agent and Real Estate Consultant
Correct Answer: B) Managing Broker and Broker
The license categories were restructured effective May 1, 2011, to create two distinct tiers:
Managing Broker and Broker, eliminating the previous Salesperson category and establishing
clearer responsibility hierarchies.
5. After April 30, 2012, as an alternative to passing the proficiency exam given by AMP, what are
the requirements for converting a salesperson's license to a broker license?
A) 45 hours of continuing education
B) 30 hours of post-licensure education, as defined by administrative rule
C) 90 hours of pre-license coursework
D) 15 hours of situational offerings
Correct Answer: B) 30 hours of post-licensure education, as defined by administrative rule
,3|Page
The administrative rule established a 30-hour post-licensure education alternative to the AMP
proficiency exam, providing licensed salespeople with a pathway to upgrade their credentials
through additional coursework rather than examination.
6. In Illinois, sponsor cards are good for:
A) 30 days
B) 45 days
C) 60 days
D) 90 days
Correct Answer: B) 45 days
A sponsor card is valid for 45 days from issuance, allowing a newly licensed broker to engage in
real estate activities temporarily while awaiting receipt of their permanent pocket card from the
IDFPR.
7. What are the requirements for a newly licensed broker effective May 1, 2011?
A) 75 hours of pre-license coursework
B) 90 hours of pre-license coursework including 15 hours of situational offerings
C) 120 hours of pre-license education
D) 60 hours of classroom instruction
Correct Answer: B) 90 hours of pre-license coursework including 15 hours of situational
offerings
Effective May 1, 2011, new broker license applicants must complete 90 hours of pre-license
education, with 15 of those hours specifically dedicated to situational offerings that cover
practical real-world scenarios.
8. After May 1, 2011, what must a broker do to convert a managing broker license?
, 4|Page
A) Pass the AMP proficiency exam
B) Complete 45 hours of post-license education
C) Accumulate two years of full-time experience
D) Complete 30 hours of continuing education
Correct Answer: B) Complete 45 hours of post-license education
Brokers seeking to upgrade to managing broker status after May 1, 2011, must complete 45
hours of post-license education, which covers advanced topics in brokerage management,
supervision, and regulatory compliance.
9. When do real estate brokers' licenses expire in Illinois?
A) December 31 of every even-numbered year
B) April 30 of every odd-numbered year
C) June 30 of every year
D) October 31 of every odd-numbered year
Correct Answer: B) April 30 of every odd-numbered year
Real estate broker licenses in Illinois expire on April 30 of every odd-numbered year, requiring
licensees to complete continuing education requirements and pay renewal fees by this date to
maintain active status.
10. To renew a license in Illinois, brokers must..?
A) Complete 12 hours of continuing education in the last two years and pay the current fee
B) Pass a renewal examination every two years
C) Complete 15 hours of continuing education annually
D) Submit proof of five completed transactions
Correct Answer: A) Complete 12 hours of continuing education in the last two years and pay the
current fee
Illinois Property Manager Licensing Examination Study Guide | Comprehensive Property
Management License Exam Prep | Practice Questions with Detailed Answer Explanations
& Rationales | Illinois Real Estate Laws, Leasing, Fair Housing, Property Operations, Risk
Management, Ethics, Landlord-Tenant Regulations & Licensing Review | Digital PDF
Download | Latest Updated Edition
1. In Illinois, the real estate license law is administered by the...?
A) Department of Financial and Professional Regulation (Bureau of Real Estate Professions)
B) Illinois Supreme Court
C) Illinois Real Estate Commission
D) Department of Commerce and Economic Opportunity
Correct Answer: A) Department of Financial and Professional Regulation (Bureau of Real
Estate Professions)
The Illinois Real Estate License Act of 2000 is administered by the IDFPR's Bureau of Real
Estate Professions, which oversees licensing, enforcement, and regulatory compliance for all
real estate professionals in the state.
2. How are the nine members of the Real Estate Administration and Disciplinary Board selected?
A) Elected by licensed real estate brokers
B) Appointed by the Illinois General Assembly
C) Selected by the Governor
D) Chosen by the IDFPR Director
Correct Answer: C) Selected by the Governor
The Governor appoints the nine members of the Real Estate Administration and Disciplinary
Board, who serve to advise the IDFPR on matters related to real estate licensing and
professional discipline.
,2|Page
3. What is the name given to the Illinois license laws under which brokers and salespeople
practice?
A) Illinois Real Estate Code of 1988
B) Real Estate License Act of 2000
C) Illinois Property Management Act
D) Real Estate Practice Act of 1995
Correct Answer: B) Real Estate License Act of 2000
The Real Estate License Act of 2000 is the primary legislation governing real estate licensing,
practice standards, and disciplinary procedures for brokers and salespeople operating in Illinois.
4. After May 1, 2011, the new license categories in Illinois are:
A) Broker and Salesperson
B) Managing Broker and Broker
C) Principal Broker and Associate Broker
D) Real Estate Agent and Real Estate Consultant
Correct Answer: B) Managing Broker and Broker
The license categories were restructured effective May 1, 2011, to create two distinct tiers:
Managing Broker and Broker, eliminating the previous Salesperson category and establishing
clearer responsibility hierarchies.
5. After April 30, 2012, as an alternative to passing the proficiency exam given by AMP, what are
the requirements for converting a salesperson's license to a broker license?
A) 45 hours of continuing education
B) 30 hours of post-licensure education, as defined by administrative rule
C) 90 hours of pre-license coursework
D) 15 hours of situational offerings
Correct Answer: B) 30 hours of post-licensure education, as defined by administrative rule
,3|Page
The administrative rule established a 30-hour post-licensure education alternative to the AMP
proficiency exam, providing licensed salespeople with a pathway to upgrade their credentials
through additional coursework rather than examination.
6. In Illinois, sponsor cards are good for:
A) 30 days
B) 45 days
C) 60 days
D) 90 days
Correct Answer: B) 45 days
A sponsor card is valid for 45 days from issuance, allowing a newly licensed broker to engage in
real estate activities temporarily while awaiting receipt of their permanent pocket card from the
IDFPR.
7. What are the requirements for a newly licensed broker effective May 1, 2011?
A) 75 hours of pre-license coursework
B) 90 hours of pre-license coursework including 15 hours of situational offerings
C) 120 hours of pre-license education
D) 60 hours of classroom instruction
Correct Answer: B) 90 hours of pre-license coursework including 15 hours of situational
offerings
Effective May 1, 2011, new broker license applicants must complete 90 hours of pre-license
education, with 15 of those hours specifically dedicated to situational offerings that cover
practical real-world scenarios.
8. After May 1, 2011, what must a broker do to convert a managing broker license?
, 4|Page
A) Pass the AMP proficiency exam
B) Complete 45 hours of post-license education
C) Accumulate two years of full-time experience
D) Complete 30 hours of continuing education
Correct Answer: B) Complete 45 hours of post-license education
Brokers seeking to upgrade to managing broker status after May 1, 2011, must complete 45
hours of post-license education, which covers advanced topics in brokerage management,
supervision, and regulatory compliance.
9. When do real estate brokers' licenses expire in Illinois?
A) December 31 of every even-numbered year
B) April 30 of every odd-numbered year
C) June 30 of every year
D) October 31 of every odd-numbered year
Correct Answer: B) April 30 of every odd-numbered year
Real estate broker licenses in Illinois expire on April 30 of every odd-numbered year, requiring
licensees to complete continuing education requirements and pay renewal fees by this date to
maintain active status.
10. To renew a license in Illinois, brokers must..?
A) Complete 12 hours of continuing education in the last two years and pay the current fee
B) Pass a renewal examination every two years
C) Complete 15 hours of continuing education annually
D) Submit proof of five completed transactions
Correct Answer: A) Complete 12 hours of continuing education in the last two years and pay the
current fee
