12/3/25, 9:03 AM Illinois Leasing Agent Exam Practice Exam || 2025 (Actual Exam) Questions with verified Answers (Latest Update 2026) UPDATE!! …
Illinois Leasing Agent Exam Practice Exam || 2025
(Actual Exam) Questions with verified Answers
(Latest Update 2026) UPDATE!!
Save
Terms in this set (85)
Illinois Department of Financial and Professional
IDFPR
Regulation, issue real estate licenses
Appointed by the governor, 15 people, residents of
Real Estate Administration
the state for 6 years or more, give recommendations
and Disciplinary Board
on professional conduct and disciplinary action
A fund maintained by the Illinois State Treasury for
research and education at state institutions of higher
Real Estate Research and
education or other organizations for research and the
Education Fund
advancement of education in the real estate industry.
$125,000 budget per year
Real Estate Administration Money in in trust by state treasury, operating expense
Fund for the IDFPR
Peer Review Advisors Investigate complaints
License Categories Broker, Managing Broker, Residential Leasing Agent
A written or oral agreement between a sponsoring
Brokerage Agreement broker and a consumer for licensed activities. All
exclusive brokerage agreements must be in writing.
Client A person who is being represented by a licensee
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, 12/3/25, 9:03 AM Illinois Leasing Agent Exam Practice Exam || 2025 (Actual Exam) Questions with verified Answers (Latest Update 2026) UPDATE!! …
Valuable consideration give by one person to another
Compensation
in exchange for performance of a service or activity
No felonies, prior revoked licenses, fraud, false
Good Moral Behavior
application
Issued for leasing agents by a sponsoring broker,
120 Day Student Permit must be enrolled within first 60 days, agent may
practice as a student only once in a 24 month period
Temporary permit allowing a sponsee to engage in
practice as a leasing agent until issued a license,
45 Sponsor Card issued after applicant passes the exam, need a new
sponsor card every time they change sponsoring
brokers
Conducted by IDFPR, determine suspension or
Hearings revocation, investigation is conducted, licensee is
notified within 30 days prior to the hearing
If sponsoring broker's license is revoked all licenses
Suspension/Revocation
become inopperative
Provides money to people that were defrauded by a
Real Estate Recovery Fund
licensee, may recover between $25k-$100k
maintained for 5 years, record must be kept in office
Escrow Records
for 2 years within 24 hours
A collection of laws designed to prevent
Fair Housing Laws
discrimination
Puffing exaggeration of a property's benefits
An ad that only includes the listing street address and
Blind Ads
phone number
Prohibited discrimination based on race in the
Civil Rights Act of 1866
purchase of rental property
Discrimination based on race was prohibited in all
Civil Rights Act of 1964
federally funded housing programs
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Illinois Leasing Agent Exam Practice Exam || 2025
(Actual Exam) Questions with verified Answers
(Latest Update 2026) UPDATE!!
Save
Terms in this set (85)
Illinois Department of Financial and Professional
IDFPR
Regulation, issue real estate licenses
Appointed by the governor, 15 people, residents of
Real Estate Administration
the state for 6 years or more, give recommendations
and Disciplinary Board
on professional conduct and disciplinary action
A fund maintained by the Illinois State Treasury for
research and education at state institutions of higher
Real Estate Research and
education or other organizations for research and the
Education Fund
advancement of education in the real estate industry.
$125,000 budget per year
Real Estate Administration Money in in trust by state treasury, operating expense
Fund for the IDFPR
Peer Review Advisors Investigate complaints
License Categories Broker, Managing Broker, Residential Leasing Agent
A written or oral agreement between a sponsoring
Brokerage Agreement broker and a consumer for licensed activities. All
exclusive brokerage agreements must be in writing.
Client A person who is being represented by a licensee
https://quizlet.com/1116376253/illinois-leasing-agent-exam-practice-exam-2025-actual-exam-questions-with-verified-answers-latest-update-2026-upda… 1/8
, 12/3/25, 9:03 AM Illinois Leasing Agent Exam Practice Exam || 2025 (Actual Exam) Questions with verified Answers (Latest Update 2026) UPDATE!! …
Valuable consideration give by one person to another
Compensation
in exchange for performance of a service or activity
No felonies, prior revoked licenses, fraud, false
Good Moral Behavior
application
Issued for leasing agents by a sponsoring broker,
120 Day Student Permit must be enrolled within first 60 days, agent may
practice as a student only once in a 24 month period
Temporary permit allowing a sponsee to engage in
practice as a leasing agent until issued a license,
45 Sponsor Card issued after applicant passes the exam, need a new
sponsor card every time they change sponsoring
brokers
Conducted by IDFPR, determine suspension or
Hearings revocation, investigation is conducted, licensee is
notified within 30 days prior to the hearing
If sponsoring broker's license is revoked all licenses
Suspension/Revocation
become inopperative
Provides money to people that were defrauded by a
Real Estate Recovery Fund
licensee, may recover between $25k-$100k
maintained for 5 years, record must be kept in office
Escrow Records
for 2 years within 24 hours
A collection of laws designed to prevent
Fair Housing Laws
discrimination
Puffing exaggeration of a property's benefits
An ad that only includes the listing street address and
Blind Ads
phone number
Prohibited discrimination based on race in the
Civil Rights Act of 1866
purchase of rental property
Discrimination based on race was prohibited in all
Civil Rights Act of 1964
federally funded housing programs
https://quizlet.com/1116376253/illinois-leasing-agent-exam-practice-exam-2025-actual-exam-questions-with-verified-answers-latest-update-2026-upda… 2/8
