Illinois Real Estate Exam Questions and Answers Already Passed
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Course
Illinois Real Estate
Institution
Illinois Real Estate
Illinois Real Estate Exam Questions and Answers Already Passed 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...
Illinois Real Estate Exam Questions and Answers Already Passed 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 la ws under which brokers and salespeople practice? ✔✔Real Estate License Act of 2000 After May 1, 2011, the new license categories are: ✔✔Managing Broker and Broker After April 30, 2012, as an alternative to passing the proficiency exam given by AMP, what are the requirements for converting a salesperson's license to a broker license? ✔✔30 hours of post -
licensure education, as defined by administrative rule. In Illin ois, sponsor cards are good for: ✔✔45 days What are the requirements for a newly licensed broker effective May 1, 2011? ✔✔90 hours of pre-license coursework including 15 hours of situational offerings After May 1, 2011, what must a broker do to convert a managing broker license? ✔✔Complete 45 hours of post -license education When do real estate brokers' licenses expire in Illinois? ✔✔April 30 of every odd -numbered year To renew a license in Illinois, brokers must..? ✔✔Have completed 12 hours of continuin g education in the last two years and pay the current fee. Licensees who allow their licenses to expire have how long to reinstate their licenses? ✔✔Up to two years; then licensees must start over What procedures must be followed to obtain a license that has been expired for more than two years? ✔✔Meet the requirements for a new license, including all pre -license education and passing the exam Three weeks before N begins his real estate pre -license class, he offers to help his neighbor sell her house. Th e neighbor agrees to pay N a 5% commission. An offer is accepted while N is taking the class and closes the day after N passes the exam and receives his salesperson license. The neighbor refuses to pay N the agreed commission. Can N sue to recover payment? ✔✔No. State law prohibits lawsuits filed to collect commissions unless filed by a licensed broker - one with a license in effect before the agreement was reached. Which of the following conditions is NOT required to grant a nonresident broker's license i n Illinois? ✔✔The broker has been active in the real estate business in her own state for one year prior to application. The resident property manager for Acme Apartments is responsible for negotiating leases for the apartment. In this position, the resid ent manager: ✔✔Is exempt from the licensing requirements. After failing the Illinois licensing exam three times, what does a candidate have to do to get three more tries? ✔✔Complete the entire education requirement again. When terminating a sponsorship, the sponsoring broker must return the signed license to the DPR within ✔✔Two business days by signature restricted mail delivery. A leasing agent license requires how many hours of classroom time? ✔✔15 hours In order to practice real estate, Illinois req uires new licensees to have which of the following in their possession? ✔✔A 45 -day sponsor card, then a pocket card later An agent is terminated by his broker for failure to pay the office bill. While the agent is looking for a new office, he is considered to have what kind of license? ✔✔Inoperative Performing which of the following activities requires a real estate license? ✔✔Negotiating Lease Terms J was really good at locating temporary housing for friends. They have encouraged her to start a small home business assisting people who are looking to rent. What is the first thing she should do? ✔✔Get a real estate license Proof of continuing education is required every ✔✔Two years Of the following, who is required to hold an Illinois real estate license? ✔✔A person who represents clients in the negotiation of a real estate contract for a flat fee.
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