Leasing Agent Chapter 5: License Law
and Agency Exam Questions and
Answers 100% Solved
Real estate licensees must:
a. carry their real estate license in their wallet at all times.
b. give their real estate license to their sponsoring broker, who will post it in
a public place in the sponsor's office.
c. post their real estate license on the wall in their home.
d. mail their real estate license to the regulating agency, where it will be
hung in the Director's office. - ✔✔b. give their real estate license to their
sponsoring broker, who will post it in a public place in the sponsor's office.
Individuals must hold an active Illinois real estate license if they wish to
negotiate the lease of:
a. their own home in Chicago.
b. property belonging to a relative's estate for which they are executor.
c. a home belonging to a client who will pay them a commission.
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©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
,d. an apartment building they have inherited. - ✔✔c. a home belonging to a
client who will pay them a commission.
A real estate license can be revoked for:
a. the loss of a pocket card.
b. intentionally misleading someone into signing a contract.
c. submitting an absurd offer to the seller of a property.
d. closing a deal after midnight. - ✔✔b. intentionally misleading someone
into signing a contract.
Illinois residential leasing agent licenses expire on:
a. April 30of odd-numbered years.
b. July 31 of even-numbered years.
c. April 30 of even-numbered years.
d. July 31 of odd-numbered years. - ✔✔b. July 31 of even-numbered years.
Blind advertising means advertising placed by:
a. an owner without stating he or she is not a licensee. b. an owner who is
not using Realestate agent.
c. a licensee without obtaining the owner's permission. d. a licensee
withouts stating a sponsor's business name. - ✔✔d. a licensee withouts
stating a sponsor's business name.
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©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, A licensee has just collected a commission from the owner of a home she
has sold. She would be in violation of license law unless:
a. she holds a residential leasing agent license.
b. she holds a valid real-estate broker's license.
c. she is a close relative of the owner paying the commission.
d. she is both real-estate licensee and an attorney - ✔✔b. she holds a valid
real-estate broker's license.
It is illegal for an owner to pay a referral fee to a tenant for the referral of
another tenant if the:
a. tenant only refers the prospect and nothing more.
b. compensation is less than one month's rent in a six-month period.
c. tenant places four or more referrals in a 12-month period.
d. tenant lives in a building with over a 100 units. - ✔✔c. tenant places four
or more referrals in a 12-month period.
Leasing agent licensees requiring continuing education must complete
_____
for each renewal period.
a. 15hours
b. 25hours
c. 6 hours
3
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
and Agency Exam Questions and
Answers 100% Solved
Real estate licensees must:
a. carry their real estate license in their wallet at all times.
b. give their real estate license to their sponsoring broker, who will post it in
a public place in the sponsor's office.
c. post their real estate license on the wall in their home.
d. mail their real estate license to the regulating agency, where it will be
hung in the Director's office. - ✔✔b. give their real estate license to their
sponsoring broker, who will post it in a public place in the sponsor's office.
Individuals must hold an active Illinois real estate license if they wish to
negotiate the lease of:
a. their own home in Chicago.
b. property belonging to a relative's estate for which they are executor.
c. a home belonging to a client who will pay them a commission.
1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
,d. an apartment building they have inherited. - ✔✔c. a home belonging to a
client who will pay them a commission.
A real estate license can be revoked for:
a. the loss of a pocket card.
b. intentionally misleading someone into signing a contract.
c. submitting an absurd offer to the seller of a property.
d. closing a deal after midnight. - ✔✔b. intentionally misleading someone
into signing a contract.
Illinois residential leasing agent licenses expire on:
a. April 30of odd-numbered years.
b. July 31 of even-numbered years.
c. April 30 of even-numbered years.
d. July 31 of odd-numbered years. - ✔✔b. July 31 of even-numbered years.
Blind advertising means advertising placed by:
a. an owner without stating he or she is not a licensee. b. an owner who is
not using Realestate agent.
c. a licensee without obtaining the owner's permission. d. a licensee
withouts stating a sponsor's business name. - ✔✔d. a licensee withouts
stating a sponsor's business name.
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, A licensee has just collected a commission from the owner of a home she
has sold. She would be in violation of license law unless:
a. she holds a residential leasing agent license.
b. she holds a valid real-estate broker's license.
c. she is a close relative of the owner paying the commission.
d. she is both real-estate licensee and an attorney - ✔✔b. she holds a valid
real-estate broker's license.
It is illegal for an owner to pay a referral fee to a tenant for the referral of
another tenant if the:
a. tenant only refers the prospect and nothing more.
b. compensation is less than one month's rent in a six-month period.
c. tenant places four or more referrals in a 12-month period.
d. tenant lives in a building with over a 100 units. - ✔✔c. tenant places four
or more referrals in a 12-month period.
Leasing agent licensees requiring continuing education must complete
_____
for each renewal period.
a. 15hours
b. 25hours
c. 6 hours
3
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
