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Package Deal For Illinois Real Estate State Exam Study Questions and Answers Graded A 2024

Package Deal For Illinois Real Estate State Exam Study Questions and Answers Graded A 2024

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Real Estate Broker License Exam Key Concepts (IL) Study Guide Graded A 2024

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Identify the major trade organizations that serve the real estate business. - (1) The National Association of Realtors (NAR) members called "Realtors" (2) The National Association of Real Estate Brokers (NAREB) members called "Realtists" List the Categories of real property. - (1) Residential...

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Illinois Real Estate Practice Exam Questions and Answers 100% Solved Graded A

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Objectives of Federal Reserve System - To counteract inflationary and deflationary trends, to create a favorable economic climate, to maintain sound credit conditions but NOT to control the secondary mortgage market Remainder Interest - A fee simple holder of a parcel of real estate grants a life...

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Illinois Real Estate Exam Study Questions and Answers

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In Illinois, the real estate license law is administered by the...? - IDFPR (Bureau of Real Estate Professions) How are the nine members of the Real Estate Administration and Disciplinary Board Selected? - By the governor What is the name given to the Illinois license laws under which brokers ...

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Illinois Real Estate License Practice Questions with Correct Answers Graded A 2024

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The final decision on the listing price for a property is made by the a) listing broker b) sponsoring broker c) seller d) appraiser - c) seller A rectangular parcel of land is 260 feet deep and 50 yards wide. How many square feet does it contain? a) 13,000 sq. ft. b) 36,400 sq. ft. c) 39,0...

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Illinois Broker exam questions and answers with complete solutions

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appurtenance - A right, a privilege, or an improvement belonging to, and passing with, the land. real estate - an improvement to the land creates? 15 days - How many days does a sponsoring broker have to notify IDFPR of the loss of a managing broker? accession - when title to additions or i...

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Illinois Real Estate License Test Top Rated Questions and Answers Graded A

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Brokerage - the business of bringing people together in a real estate transaction real estate licensee - acts as a point of contact between two or more people in negotiating the sale, purchase, or rental of property. A real estate licensee may be the agent for the buyer, for the seller, or for bo...

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Illinois Real Estate State Exam Study Questions and Answers Graded A 2024

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A large manufacturing company agrees to relocate to an economically depressed neighborhood of Chicago if the city can provide suitable property. The property needed is a large vacant lot owned by an investment partnership that refuses to sell. If the City of Chicago wants to relieve unemployment in ...

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Illinois Broker Exam - State Questions and Answers 2024 Graded A

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Sandy wishes to start a new real estate company, although she has never had a real estate license of any type. She must be licensed for at least XX years before she can manage an office - Two An Illinois real estate agent, acting as a dual agent, is showing his listing that he knows has had water...

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Real Estate Exam Illinois questions and Answers 100% Verified Graded A

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implied agency - legal finding that your behavior implied a legal relationship (intent) express agency - no ambiguity in behavior. explicitly define legal relationship real estate - = land + improvements (any addition to land, regardless of aesthetics) real property - = interest benefits an...

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Illinois Real Estate Exam Top Graded Questions and Answers Graded A 100% Verified

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Fee simple - Also called fee simple absolute or indefeasible fee, this fee estate is the most complete form of ownership without limitations or conditions Life estate - Grants possession and limited ownership of the property to a person for the duration of the recipients life or the life of anoth...

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