Illinois Real Estate Practice Test Questions |\ |\ |\ |\ |\ |\
with answers |\
1.) Which of the following persons is required to have an Illinois
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
broker license |\
A commercial leasing agent
|\ |\ |\
An attorney who prepares sales contracts
|\ |\ |\ |\ |\
A person selling a relative's house for no fee
|\ |\ |\ |\ |\ |\ |\ |\
A resident property manager who is an employee of the owner -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔A commercial leasing agent
|\ |\ |\ |\ |\
2.) In Illinois which of the following individual must hold a real
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
estate license |\
An individual owning three properties worth $1,000,000 or more
|\ |\ |\ |\ |\ |\ |\ |\
A relative who is paid to help sell property
|\ |\ |\ |\ |\ |\ |\ |\
An attorney in performance of their duties The trustee of land
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
trust - CORRECT ANSWERS ✔✔A relative who is paid to help sell
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
property
3.) A property owner dies without a will in Illinois, the owner is
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
there will be divided in accordance with
|\ |\ |\ |\ |\ |\
Laws in the county of residence
|\ |\ |\ |\ |\ |\
The religious affiliation of the owner
|\ |\ |\ |\ |\ |\
The Illinois Human Rights Act
|\ |\ |\ |\ |\
, Intestate succession - CORRECT ANSWERS ✔✔Intestate |\ |\ |\ |\ |\ |\
succession
4.) A licensee sponsored by XYZ Realty wants to work for ABC
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
Realty on the weekends. ABC Realty is a licensed property
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
management company. Is the licensee permitted to do this? |\ |\ |\ |\ |\ |\ |\ |\
No, a licensee may have only one sponsoring broker at a time.
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
Yes, but the licensee must also obtain a leasing agent license
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
No, licensees may not work for property management companies
|\ |\ |\ |\ |\ |\ |\ |\
Yes, the licensee must reside on one of the managed properties -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔No, a licensee may have only one
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
sponsoring broker at a time. |\ |\ |\ |\
5.) Illinois residential real property disclosure act requires the
|\ |\ |\ |\ |\ |\ |\ |\ |\
sellers to disclose |\ |\
An occupant of the property has AIDS
|\ |\ |\ |\ |\ |\
Water blew in an open window during a storm The property was
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the site of a recent murder
|\ |\ |\ |\ |\
They have occupied the property in the last 12 months -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔They have occupied the property in the |\ |\ |\ |\ |\ |\ |\ |\ |\
last 12 months
|\ |\
6.) Which property owners in Illinois are totally exempt from
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
paying general real estate taxes |\ |\ |\ |\
Religious Institutions |\
Senior Citizens |\ |\
Lending Institutions |\ |\
with answers |\
1.) Which of the following persons is required to have an Illinois
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
broker license |\
A commercial leasing agent
|\ |\ |\
An attorney who prepares sales contracts
|\ |\ |\ |\ |\
A person selling a relative's house for no fee
|\ |\ |\ |\ |\ |\ |\ |\
A resident property manager who is an employee of the owner -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔A commercial leasing agent
|\ |\ |\ |\ |\
2.) In Illinois which of the following individual must hold a real
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
estate license |\
An individual owning three properties worth $1,000,000 or more
|\ |\ |\ |\ |\ |\ |\ |\
A relative who is paid to help sell property
|\ |\ |\ |\ |\ |\ |\ |\
An attorney in performance of their duties The trustee of land
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
trust - CORRECT ANSWERS ✔✔A relative who is paid to help sell
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
property
3.) A property owner dies without a will in Illinois, the owner is
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
there will be divided in accordance with
|\ |\ |\ |\ |\ |\
Laws in the county of residence
|\ |\ |\ |\ |\ |\
The religious affiliation of the owner
|\ |\ |\ |\ |\ |\
The Illinois Human Rights Act
|\ |\ |\ |\ |\
, Intestate succession - CORRECT ANSWERS ✔✔Intestate |\ |\ |\ |\ |\ |\
succession
4.) A licensee sponsored by XYZ Realty wants to work for ABC
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
Realty on the weekends. ABC Realty is a licensed property
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
management company. Is the licensee permitted to do this? |\ |\ |\ |\ |\ |\ |\ |\
No, a licensee may have only one sponsoring broker at a time.
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
Yes, but the licensee must also obtain a leasing agent license
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
No, licensees may not work for property management companies
|\ |\ |\ |\ |\ |\ |\ |\
Yes, the licensee must reside on one of the managed properties -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔No, a licensee may have only one
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
sponsoring broker at a time. |\ |\ |\ |\
5.) Illinois residential real property disclosure act requires the
|\ |\ |\ |\ |\ |\ |\ |\ |\
sellers to disclose |\ |\
An occupant of the property has AIDS
|\ |\ |\ |\ |\ |\
Water blew in an open window during a storm The property was
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the site of a recent murder
|\ |\ |\ |\ |\
They have occupied the property in the last 12 months -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔They have occupied the property in the |\ |\ |\ |\ |\ |\ |\ |\ |\
last 12 months
|\ |\
6.) Which property owners in Illinois are totally exempt from
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
paying general real estate taxes |\ |\ |\ |\
Religious Institutions |\
Senior Citizens |\ |\
Lending Institutions |\ |\
