Illinois Real Estate Practice Exam / Expert Strategies, Review of Key Quizzes, and Practice Questions for Guaranteed Success / Newest 2025/2026.

Illinois Real Estate Practice Exam
/ Expert Strategies, Review of Key
Quizzes, and Practice Questions
for Guaranteed Success / Newest
2025/2026.

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Terms in this set (125)

,Which of the b. "Beginning at the iron pin 30
following is an paces from the center of the bank
example of that runs across the road
metes and Southwesterly from the dwelling..."
bounds
description?


a. 123 Roanoke
Street Any
Town, ST 98765
b. "Beginning at
the iron pin 30
paces from the
center of the
bank that runs
across the road
Southwesterly
from the
dwelling..."
c. Lot 6 of Block
3 of the
Meridian
subdivision
d. S 1/2 SE 1/4

,NW 1/4 Section
2
An investor a. Equity skimming
receives title to
a property, but
she never
makes
mortgage
payments and
rents out the
home until
foreclosure
occurs. What
type of
mortgage fraud
does this
describe?


a. Equity
skimming
b. False identity
c. Property
flipping
d. Straw buyers

, What's the a. Capitalization
name for a
process that
converts
income to
value?


a. Capitalization
b. Conversion
c. Discounting
d. Projection