IL EXAM PREP UNITS STUDY GUIDE WITH COMPLETE
SOLUTION!!
every applicant for licensure as a managing broker must have been licensed at least
two consecutive years
True
False
answers: True
All licenses should always be carried by the licensee to be readily available to the
public
True
Falls
answers: False
All licenses should be readily available to the public at the licensees place of
business
All commercial leasing agents must obtain a leasing license
True
False
answers: False
Call commercial leasing agents must obtain a broker license. The leasing license is
limited to residential leasing transactions only.
,The 45 hours of post license education must be completed by all individual seeking
to renew the broker license for the first time
True
False
answers: False
A broker must complete 24 hours of continuing education
True
False
answers: False
A broker must successfully complete 12 hours of real estate continuing education
courses. Managing brokers are required to do an additional 12 hour broker
management continuing education course.
All licensees shell informed the department of any changes email address
True
False
answers: True
Supervising the collection of rent for compensation is a real estate activity that
requires a license
True
False
,answers: True
An unlicensed assistant me, prepare a comparative market analysis and receive
compensation
True
False
answers: False
An individual who prepares or provides a broker price opinion or comparative
market analysis for compensation must be licensed
A broker applicant may be as young as 18 years of age
True
False
answers: True
A managing broker candidate must provide satisfactory evidence of having
completed at least 165 hours of education
True
False
answers: True
The requirement of holding a license does not apply to a person acting as a resident
manager for a brokerage firm
True
False
, answers: True
A resident Lessee mean true or gas may receive an unlimited amount of
compensation for referring perspective residence
True
False
answers: False
May refer no more than 3 prospective buyers in any 12 month period, receives
compensation of no more than $5000 or a equivalent of two months rent, which
ever is less, and limits his or her activities to referring prospective lesses to the
owner or the owners agent, and does not show a residential dwelling unit to a
prospective lessee discuss terms, or conditions of leasing a dwelling unit with a
prospective lessee, or otherwise participate in the negotiation of the leasing of a
dwelling unit
An unlicensed individual working in marketing and providing leads to a licensee
may receive compensation for each lead that results in a listing
True
False
answers: False
A license is required for anyone who assists or directs in procuring or referring of
leads or prospects intended to result in the sale, exchange,lease, or rental of real
estate
SOLUTION!!
every applicant for licensure as a managing broker must have been licensed at least
two consecutive years
True
False
answers: True
All licenses should always be carried by the licensee to be readily available to the
public
True
Falls
answers: False
All licenses should be readily available to the public at the licensees place of
business
All commercial leasing agents must obtain a leasing license
True
False
answers: False
Call commercial leasing agents must obtain a broker license. The leasing license is
limited to residential leasing transactions only.
,The 45 hours of post license education must be completed by all individual seeking
to renew the broker license for the first time
True
False
answers: False
A broker must complete 24 hours of continuing education
True
False
answers: False
A broker must successfully complete 12 hours of real estate continuing education
courses. Managing brokers are required to do an additional 12 hour broker
management continuing education course.
All licensees shell informed the department of any changes email address
True
False
answers: True
Supervising the collection of rent for compensation is a real estate activity that
requires a license
True
False
,answers: True
An unlicensed assistant me, prepare a comparative market analysis and receive
compensation
True
False
answers: False
An individual who prepares or provides a broker price opinion or comparative
market analysis for compensation must be licensed
A broker applicant may be as young as 18 years of age
True
False
answers: True
A managing broker candidate must provide satisfactory evidence of having
completed at least 165 hours of education
True
False
answers: True
The requirement of holding a license does not apply to a person acting as a resident
manager for a brokerage firm
True
False
, answers: True
A resident Lessee mean true or gas may receive an unlimited amount of
compensation for referring perspective residence
True
False
answers: False
May refer no more than 3 prospective buyers in any 12 month period, receives
compensation of no more than $5000 or a equivalent of two months rent, which
ever is less, and limits his or her activities to referring prospective lesses to the
owner or the owners agent, and does not show a residential dwelling unit to a
prospective lessee discuss terms, or conditions of leasing a dwelling unit with a
prospective lessee, or otherwise participate in the negotiation of the leasing of a
dwelling unit
An unlicensed individual working in marketing and providing leads to a licensee
may receive compensation for each lead that results in a listing
True
False
answers: False
A license is required for anyone who assists or directs in procuring or referring of
leads or prospects intended to result in the sale, exchange,lease, or rental of real
estate
