State Exam Practice With Correct And
Verified Answers
How ddlong dddoes dda ddlicensee ddrelocating ddto ddIllinois ddhave ddto ddcomplete ddall ddthe
ddreciprocity ddrequirements? dd- ddCORRECT✅✅a. dd30 dddays
b. ddFive ddyears
c. ddOne ddyear dd(Correct ddAnswer)
d. ddSix ddmonths
Reed ddis ddrepresenting ddJanet ddand ddTodd ddin ddthe ddsale ddof ddtheir ddIllinois ddhome.
ddWhich ddof ddthese ddcorrectly ddidentifies ddthe ddparties' ddresponsibilities ddunder ddthe
ddIllinois ddRadon ddAwareness ddAct? dd- ddCORRECT✅✅a. ddJanet ddand ddTodd ddmust
ddprovide ddthe ddbuyer ddwith ddverification ddthat ddradon ddlevels ddhave ddbeen ddtested
ddand ddmitigated ddas ddnecessary.
b. ddReed ddmust ddensure ddthat ddthe ddsellers ddhave ddthe ddproperty ddtested ddfor
ddradon ddbefore ddlisting ddit.
c. ddThe ddsellers ddmust ddprovide ddbuyers ddwith ddthe ddrequired ddpamphlet ddand
dddisclosure ddform ddbefore dda ddcontract ddis ddsigned. dd(Correct ddAnswer)
d. ddThe ddsellers ddmust ddprovide ddthe ddrequired dddisclosure ddform ddand ddpamphlet
ddany ddtime ddbefore ddclosing ddon ddthe ddcontract.
Ivan ddqualifies ddfor ddand ddtakes ddadvantage ddof ddthe ddIllinois ddSenior ddCitizens
ddAssessment ddFreeze ddHomestead ddExemption. ddWhich ddof ddthese ddis ddtrue? dd-
ddCORRECT✅✅a. ddIvan ddisn't ddpermitted ddto ddmake ddany ddimprovements ddto ddhis
ddproperty ddas ddlong ddas ddthe ddexemption ddis ddin ddplace.
b. ddIvan's ddproperty ddtax ddbill ddwill ddnever ddincrease ddas ddlong ddas ddhe ddqualifies
ddfor ddthe ddexemption.
c. ddIvan's ddtax ddbill ddcan ddonly ddgo ddup ddas ddmuch ddas ddthe ddpublished ddrate ddof
ddinflation ddevery ddyear.
d. ddIvan's ddtax ddbill ddmay ddgo ddup ddeven ddwith ddthe ddexemption ddin ddplace ddif ddhe
ddmakes ddproperty ddimprovements. dd(Correct ddAnswer)
Rita ddsigned dda ddseller's ddagency ddagreement ddwith ddFoxfire ddRealty. ddShe dddidn't
ddreceive dda dddesignated ddagency dddisclosure ddform. ddWhat ddmight ddbe ddthe
ddreason ddfor ddthis? dd- ddCORRECT✅✅a. ddA dddesignated ddagency dddisclosure
ddclause ddwas ddincluded ddin ddthe ddlisting ddagreement. dd
, (Correct ddAnswer)
b. ddRita ddis ddselling dda ddcommercial ddproperty, ddand ddthe dddisclosure ddisn't
ddrequired.
c. ddRita ddwill ddreceive ddthe ddform ddafter ddsigning ddthe ddlisting ddagreement.
d. ddThe dddesignated ddagency dddisclosure ddis ddonly ddrequired ddfor ddbuyers.
Which ddof ddthese ddstatements ddabout ddretaining ddtransaction ddrecords ddin ddIllinois
ddis ddtrue? dd- ddCORRECT✅✅a. ddAll ddtransaction ddrecords ddmaintained
ddelectronically ddmust ddbe ddreduced ddto ddhard ddcopy ddat ddleast ddmonthly ddand ddkept
ddon ddpremises ddfor dd60 dddays.
b. ddElectronic ddbackups ddof ddtransaction ddrecords ddmust ddbe ddmaintained ddon ddsite
ddfor dd60 dddays.
c. ddOnly ddelectronic ddescrow ddrecords ddmust ddbe ddbacked ddup ddmonthly.
d. ddTransaction ddrecords ddmaintained ddelectronically ddmust ddbe ddbacked ddup ddat
ddleast ddmonthly. dd(Correct ddAnswer)
In ddwhich ddof ddthe ddfollowing ddsituations ddis ddan ddIllinois ddsponsoring ddbroker
ddconsidered dda dddual ddagent? dd- ddCORRECT✅✅a. ddNone ddof ddthese. dd(Correct
ddAnswer)
b. ddWhen ddone ddof ddthe ddsponsoring ddbroker's ddaffiliated ddlicensees ddrepresents
ddone ddtransaction ddparty, ddand ddanother ddof ddtheir ddaffiliated ddlicensees ddrepresents
ddthe ddother ddparty ddin ddthe ddsame ddtransaction.
c. ddWhen ddone ddof ddthe ddsponsoring ddbroker's ddaffiliated ddlicensees ddrepresents
ddone ddtransaction ddparty, ddand ddrefers ddthe ddother ddtransaction ddparty ddto dda
ddlicensee ddat dda dddifferent ddfirm.
d. ddWhen ddone ddof ddthe ddsponsoring ddbroker's ddaffiliated ddlicensees ddrepresents
ddtwo ddparties ddin ddthe ddsame ddtransaction.
Larry ddcreated ddan ddIllinois ddland ddtrust ddagreement ddnaming ddRenken ddProperties,
ddInc., ddas ddthe ddtrustee, ddand ddhimself ddas ddthe ddbeneficiary. ddWhich ddof ddthese
ddstatements ddis ddNOT ddtrue? dd- ddCORRECT✅✅Larry ddcreated ddan ddIllinois ddland
ddtrust ddagreement ddnaming ddRenken ddProperties, ddInc., ddas ddthe ddtrustee, ddand
ddhimself ddas ddthe ddbeneficiary. ddWhich ddof ddthese ddstatements ddis ddNOT ddtrue?
a. ddLarry ddretains ddcomplete ddcontrol ddof ddthe ddproperty ddduring ddthe ddtrust's ddterm.
b. ddLarry's ddinterest ddin ddthe ddproperty ddis ddconsidered ddreal ddproperty. dd(Correct
ddAnswer)
Verified Answers
How ddlong dddoes dda ddlicensee ddrelocating ddto ddIllinois ddhave ddto ddcomplete ddall ddthe
ddreciprocity ddrequirements? dd- ddCORRECT✅✅a. dd30 dddays
b. ddFive ddyears
c. ddOne ddyear dd(Correct ddAnswer)
d. ddSix ddmonths
Reed ddis ddrepresenting ddJanet ddand ddTodd ddin ddthe ddsale ddof ddtheir ddIllinois ddhome.
ddWhich ddof ddthese ddcorrectly ddidentifies ddthe ddparties' ddresponsibilities ddunder ddthe
ddIllinois ddRadon ddAwareness ddAct? dd- ddCORRECT✅✅a. ddJanet ddand ddTodd ddmust
ddprovide ddthe ddbuyer ddwith ddverification ddthat ddradon ddlevels ddhave ddbeen ddtested
ddand ddmitigated ddas ddnecessary.
b. ddReed ddmust ddensure ddthat ddthe ddsellers ddhave ddthe ddproperty ddtested ddfor
ddradon ddbefore ddlisting ddit.
c. ddThe ddsellers ddmust ddprovide ddbuyers ddwith ddthe ddrequired ddpamphlet ddand
dddisclosure ddform ddbefore dda ddcontract ddis ddsigned. dd(Correct ddAnswer)
d. ddThe ddsellers ddmust ddprovide ddthe ddrequired dddisclosure ddform ddand ddpamphlet
ddany ddtime ddbefore ddclosing ddon ddthe ddcontract.
Ivan ddqualifies ddfor ddand ddtakes ddadvantage ddof ddthe ddIllinois ddSenior ddCitizens
ddAssessment ddFreeze ddHomestead ddExemption. ddWhich ddof ddthese ddis ddtrue? dd-
ddCORRECT✅✅a. ddIvan ddisn't ddpermitted ddto ddmake ddany ddimprovements ddto ddhis
ddproperty ddas ddlong ddas ddthe ddexemption ddis ddin ddplace.
b. ddIvan's ddproperty ddtax ddbill ddwill ddnever ddincrease ddas ddlong ddas ddhe ddqualifies
ddfor ddthe ddexemption.
c. ddIvan's ddtax ddbill ddcan ddonly ddgo ddup ddas ddmuch ddas ddthe ddpublished ddrate ddof
ddinflation ddevery ddyear.
d. ddIvan's ddtax ddbill ddmay ddgo ddup ddeven ddwith ddthe ddexemption ddin ddplace ddif ddhe
ddmakes ddproperty ddimprovements. dd(Correct ddAnswer)
Rita ddsigned dda ddseller's ddagency ddagreement ddwith ddFoxfire ddRealty. ddShe dddidn't
ddreceive dda dddesignated ddagency dddisclosure ddform. ddWhat ddmight ddbe ddthe
ddreason ddfor ddthis? dd- ddCORRECT✅✅a. ddA dddesignated ddagency dddisclosure
ddclause ddwas ddincluded ddin ddthe ddlisting ddagreement. dd
, (Correct ddAnswer)
b. ddRita ddis ddselling dda ddcommercial ddproperty, ddand ddthe dddisclosure ddisn't
ddrequired.
c. ddRita ddwill ddreceive ddthe ddform ddafter ddsigning ddthe ddlisting ddagreement.
d. ddThe dddesignated ddagency dddisclosure ddis ddonly ddrequired ddfor ddbuyers.
Which ddof ddthese ddstatements ddabout ddretaining ddtransaction ddrecords ddin ddIllinois
ddis ddtrue? dd- ddCORRECT✅✅a. ddAll ddtransaction ddrecords ddmaintained
ddelectronically ddmust ddbe ddreduced ddto ddhard ddcopy ddat ddleast ddmonthly ddand ddkept
ddon ddpremises ddfor dd60 dddays.
b. ddElectronic ddbackups ddof ddtransaction ddrecords ddmust ddbe ddmaintained ddon ddsite
ddfor dd60 dddays.
c. ddOnly ddelectronic ddescrow ddrecords ddmust ddbe ddbacked ddup ddmonthly.
d. ddTransaction ddrecords ddmaintained ddelectronically ddmust ddbe ddbacked ddup ddat
ddleast ddmonthly. dd(Correct ddAnswer)
In ddwhich ddof ddthe ddfollowing ddsituations ddis ddan ddIllinois ddsponsoring ddbroker
ddconsidered dda dddual ddagent? dd- ddCORRECT✅✅a. ddNone ddof ddthese. dd(Correct
ddAnswer)
b. ddWhen ddone ddof ddthe ddsponsoring ddbroker's ddaffiliated ddlicensees ddrepresents
ddone ddtransaction ddparty, ddand ddanother ddof ddtheir ddaffiliated ddlicensees ddrepresents
ddthe ddother ddparty ddin ddthe ddsame ddtransaction.
c. ddWhen ddone ddof ddthe ddsponsoring ddbroker's ddaffiliated ddlicensees ddrepresents
ddone ddtransaction ddparty, ddand ddrefers ddthe ddother ddtransaction ddparty ddto dda
ddlicensee ddat dda dddifferent ddfirm.
d. ddWhen ddone ddof ddthe ddsponsoring ddbroker's ddaffiliated ddlicensees ddrepresents
ddtwo ddparties ddin ddthe ddsame ddtransaction.
Larry ddcreated ddan ddIllinois ddland ddtrust ddagreement ddnaming ddRenken ddProperties,
ddInc., ddas ddthe ddtrustee, ddand ddhimself ddas ddthe ddbeneficiary. ddWhich ddof ddthese
ddstatements ddis ddNOT ddtrue? dd- ddCORRECT✅✅Larry ddcreated ddan ddIllinois ddland
ddtrust ddagreement ddnaming ddRenken ddProperties, ddInc., ddas ddthe ddtrustee, ddand
ddhimself ddas ddthe ddbeneficiary. ddWhich ddof ddthese ddstatements ddis ddNOT ddtrue?
a. ddLarry ddretains ddcomplete ddcontrol ddof ddthe ddproperty ddduring ddthe ddtrust's ddterm.
b. ddLarry's ddinterest ddin ddthe ddproperty ddis ddconsidered ddreal ddproperty. dd(Correct
ddAnswer)
