ILLINOIS LEASING AGENT PRACTICE EXAM
1. The lease contract stated that the renters would bring in the security deposit
within five days. It is now the sixth day and the renters have not brought in the
money. This is legally referred to as: - CORRECT ANSWER-Breach
2. In dealing with the public, a licensee: - CORRECT ANSWER-may keep silent
about a material fact concerning the property if the client is the owner. d) may
negotiate different commissions with different owners.
3. Escrow monies: - CORRECT ANSWER-could include security deposits as well
as earnest money.
4. An offer may be terminated: - CORRECT ANSWER-if it is rejected; if it is
changed; or if it is revoked before acceptance.
A property management company runs a complex of several buildings, all
belonging to the same owner and on the same parcel of land. At the owner's
request, the manager has made apartments available to families with children
in just two of the buildings. This practice is: - CORRECT ANSWER-Steering
6. In a lease an owner may hold a future interest in the property known as: -
CORRECT ANSWER-Reversion are interest
7. Which of the following would be considered a dual agency? - CORRECT
ANSWER-A licensee is representing both landlord and tenant in the same
transaction.
, 8. To be enforced, the Statute of Frauds requires that all contracts for the sale
or lease of real estate be: - CORRECT ANSWER-In writing
9. A young couple with a toddler and an infant want to lease an apartment in a
complex that is occupied primarily by adults. The rental agent shows the couple
apartments only on the first floor. Which of the following is true? - CORRECT
ANSWER-The rental agent should have inquired about the couple's preference
for apartments.
10. On Tuesday, the agent received an offer and a check for security deposit
from a renter. The owner accepted and signed the lease at 11 am on
Wednesday. The agent must: - CORRECT ANSWER-deposit the money in his
escrow account by the close of business on Thursday.
11. The primary requirement of a contract would be: - CORRECT ANSWER-Offer
and acceptance
12. Because of the complexity of laws that affect real estate today, a property
manager should be familiar with all of the following EXCEPT: - CORRECT
ANSWER-the "Blue-Sky" laws.
13. If a complaint goes to the federal courts based on the Civil Rights Act of
1866, the complaint would be that there was discrimination based on: -
CORRECT ANSWER-Race
14. When a tenant, who has a written lease with the owner, sublets all or any
part of the premises: - CORRECT ANSWER-the original lease is unaffected
unless it contains a provision that prohibits such subletting.
15. Which of the following people may discriminate on the basis of race? -
CORRECT ANSWER-No one
1. The lease contract stated that the renters would bring in the security deposit
within five days. It is now the sixth day and the renters have not brought in the
money. This is legally referred to as: - CORRECT ANSWER-Breach
2. In dealing with the public, a licensee: - CORRECT ANSWER-may keep silent
about a material fact concerning the property if the client is the owner. d) may
negotiate different commissions with different owners.
3. Escrow monies: - CORRECT ANSWER-could include security deposits as well
as earnest money.
4. An offer may be terminated: - CORRECT ANSWER-if it is rejected; if it is
changed; or if it is revoked before acceptance.
A property management company runs a complex of several buildings, all
belonging to the same owner and on the same parcel of land. At the owner's
request, the manager has made apartments available to families with children
in just two of the buildings. This practice is: - CORRECT ANSWER-Steering
6. In a lease an owner may hold a future interest in the property known as: -
CORRECT ANSWER-Reversion are interest
7. Which of the following would be considered a dual agency? - CORRECT
ANSWER-A licensee is representing both landlord and tenant in the same
transaction.
, 8. To be enforced, the Statute of Frauds requires that all contracts for the sale
or lease of real estate be: - CORRECT ANSWER-In writing
9. A young couple with a toddler and an infant want to lease an apartment in a
complex that is occupied primarily by adults. The rental agent shows the couple
apartments only on the first floor. Which of the following is true? - CORRECT
ANSWER-The rental agent should have inquired about the couple's preference
for apartments.
10. On Tuesday, the agent received an offer and a check for security deposit
from a renter. The owner accepted and signed the lease at 11 am on
Wednesday. The agent must: - CORRECT ANSWER-deposit the money in his
escrow account by the close of business on Thursday.
11. The primary requirement of a contract would be: - CORRECT ANSWER-Offer
and acceptance
12. Because of the complexity of laws that affect real estate today, a property
manager should be familiar with all of the following EXCEPT: - CORRECT
ANSWER-the "Blue-Sky" laws.
13. If a complaint goes to the federal courts based on the Civil Rights Act of
1866, the complaint would be that there was discrimination based on: -
CORRECT ANSWER-Race
14. When a tenant, who has a written lease with the owner, sublets all or any
part of the premises: - CORRECT ANSWER-the original lease is unaffected
unless it contains a provision that prohibits such subletting.
15. Which of the following people may discriminate on the basis of race? -
CORRECT ANSWER-No one
