ILLINOIS REAL ESTATE PRACTICE EXAM / ACTUAL EXAM NEWEST
2025/2026 QUESTIONS WITH DETAILED, VERIFIED ANSWERS (100%
CORRECT) A+ GRADE
Question: Which of these best describes the
primary purpose of the Real Estate
License Act? ✓✓Correct Ans- To protect the public from
unqualified or dishonest licensees
Question: A listing agreement provides for the
payment of a commission to the
broker even if the owner sells the
property without the broker's help.
This type of listing agreement is called ✓✓Correct Ans- an exclusive-right-to-sell listing.
Question: The buyer in a real estate transaction
records the documents affecting his or
her title and interest in the real estate
to legally provide ✓✓Correct Ans- constructive notice
Question: The continued use of a property that
was lawful at the time the use began
but now is in violation of a zoning
regulation is an example of ✓✓Correct Ans- a nonconforming use
Question: Which of these deeds should the
grantor use to transfer title without
providing any warranties to the
grantee? ✓✓Correct Ans- Quitclaim deed
Question: Under the Real Estate License Act of
2000, a person who seeks or receives
1|Page
,real estate brokerage services is a ✓✓Correct Ans- consumer
Question: What would probably occur if a
tenant's lease is breached because the
landlord has allowed the unit in an
apartment building to become
uninhabitable? ✓✓Correct Ans- Constructive eviction
Question: A seller received an offer to purchase
her house from a prospective buyer.
The seller will still be able to accept
the offer even if ✓✓Correct Ans- another offer is received from a third
party
Question: One general rule of the federal do-not-
call regulations is ✓✓Correct Ans- unsolicited phone calls must not be
made to a number listed on the
national registry.
Question: On Wednesday, a property seller offers
to sell his house to a potential buyer
for $320,000. On Sunday, the buyer
makes a counteroffer of $310,000. On
Friday, the buyer withdraws the
counteroffer of $310,000 and accepts
the seller's offer of $320,000. In this
situation there is ✓✓Correct Ans- no valid agreement because the buyer's counteroffer ended the seller's offer.
Question: Which expense is usually NOT
prorated between the buyer and seller? ✓✓Correct Ans- Broker's commission
2|Page
, Question: What type of lease requires the lessee
to pay for the insurance, taxes, and
maintenance on the property in
addition to a rental payment? ✓✓Correct Ans- Net lease
Question: The sale of a single-family home by
the owner is exempt from the Illinois
Human Rights Act if the owner ✓✓Correct Ans- does not own more than three
single-family homes at one time.
Question: A property management agreement
typically includes a ✓✓Correct Ans- statement of the owner's objectives for the property.
Question: A rectangular parcel of land is 260 feet
deep and 50 yards wide. How many
square feet does it contain? ✓✓Correct Ans- 39,000 sq. ft.
Question: An investor purchased a building for
$360,000 by paying 10% down and
financing the rest of the purchase
price. The lender charged two points
as a loan origination fee. How much
was the investor charged for the fee? ✓✓Correct Ans- $6,480
Question: The Real Estate License Act of 2000 is
administered by the ✓✓Correct Ans- Illinois Department of Financial and
Professional Regulation
Question: A seller has a listing agreement with a
real estate company. A second real
estate company brings a buyer for the
3|Page
2025/2026 QUESTIONS WITH DETAILED, VERIFIED ANSWERS (100%
CORRECT) A+ GRADE
Question: Which of these best describes the
primary purpose of the Real Estate
License Act? ✓✓Correct Ans- To protect the public from
unqualified or dishonest licensees
Question: A listing agreement provides for the
payment of a commission to the
broker even if the owner sells the
property without the broker's help.
This type of listing agreement is called ✓✓Correct Ans- an exclusive-right-to-sell listing.
Question: The buyer in a real estate transaction
records the documents affecting his or
her title and interest in the real estate
to legally provide ✓✓Correct Ans- constructive notice
Question: The continued use of a property that
was lawful at the time the use began
but now is in violation of a zoning
regulation is an example of ✓✓Correct Ans- a nonconforming use
Question: Which of these deeds should the
grantor use to transfer title without
providing any warranties to the
grantee? ✓✓Correct Ans- Quitclaim deed
Question: Under the Real Estate License Act of
2000, a person who seeks or receives
1|Page
,real estate brokerage services is a ✓✓Correct Ans- consumer
Question: What would probably occur if a
tenant's lease is breached because the
landlord has allowed the unit in an
apartment building to become
uninhabitable? ✓✓Correct Ans- Constructive eviction
Question: A seller received an offer to purchase
her house from a prospective buyer.
The seller will still be able to accept
the offer even if ✓✓Correct Ans- another offer is received from a third
party
Question: One general rule of the federal do-not-
call regulations is ✓✓Correct Ans- unsolicited phone calls must not be
made to a number listed on the
national registry.
Question: On Wednesday, a property seller offers
to sell his house to a potential buyer
for $320,000. On Sunday, the buyer
makes a counteroffer of $310,000. On
Friday, the buyer withdraws the
counteroffer of $310,000 and accepts
the seller's offer of $320,000. In this
situation there is ✓✓Correct Ans- no valid agreement because the buyer's counteroffer ended the seller's offer.
Question: Which expense is usually NOT
prorated between the buyer and seller? ✓✓Correct Ans- Broker's commission
2|Page
, Question: What type of lease requires the lessee
to pay for the insurance, taxes, and
maintenance on the property in
addition to a rental payment? ✓✓Correct Ans- Net lease
Question: The sale of a single-family home by
the owner is exempt from the Illinois
Human Rights Act if the owner ✓✓Correct Ans- does not own more than three
single-family homes at one time.
Question: A property management agreement
typically includes a ✓✓Correct Ans- statement of the owner's objectives for the property.
Question: A rectangular parcel of land is 260 feet
deep and 50 yards wide. How many
square feet does it contain? ✓✓Correct Ans- 39,000 sq. ft.
Question: An investor purchased a building for
$360,000 by paying 10% down and
financing the rest of the purchase
price. The lender charged two points
as a loan origination fee. How much
was the investor charged for the fee? ✓✓Correct Ans- $6,480
Question: The Real Estate License Act of 2000 is
administered by the ✓✓Correct Ans- Illinois Department of Financial and
Professional Regulation
Question: A seller has a listing agreement with a
real estate company. A second real
estate company brings a buyer for the
3|Page
