Exam (elaborations)
ILLINOIS LEASING AGENT EXAM PRACTICE QUESTIONS AND ANSWERS
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ILLINOIS LEASING AGENT EXAM PRACTICE QUESTIONS AND ANSWERS
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Name: Score:85 Multiple choice questions
Definition 1 of 85
Mutual agreement by landlord and tenant to terminate a lease.
Redlining
Surrender of Lease
Compensation
Eviction
Definition 2 of 85
Periodic Tenancy, indefinite period of time, no ending, 30 days notice required to terminate
lease
Blockbusting
Month to Month Contract
Void Contract
Unilateral Contracts
Definition 3 of 85
Licensee represents the buyer or seller (landlord or tenant)
Single Agency
Designated Agent
Dual Agency
Fiduciary
,Definition 4 of 85
Both parties having an understanding of the terms
Compensation
Statute of Frauds
Reality of Consent
Mutual Assent
Definition 5 of 85
Service animals, close parking
Reasonable Accommodations
Disability Adjustments
Essential Functions
Reasonable Adjustment
Definition 6 of 85
Discrimination based on sex
Housing and Community Development Act of 1974
Equal employment opportunity act of 1972
Fair labor standards act of 1938
Civil rights act of 1964
Definition 7 of 85
A type of insurance that covers damage to property, such as a home, fires
Liability Insurance
Personal Property
Compensation
Property Insurance
,Definition 8 of 85
An agreement between two or more competent parties, parties must be in sound mind,
engage in some legal purpose, to receive something in value in exchange
Consideration
Compensation
Fiduciary
Contract
Definition 9 of 85
A hidden defect that affects the property and requires disclosure, termites
Latent Material Defect
Redlining
Covert Physical Defect
Eviction
Definition 10 of 85
Discrimination based on race was prohibited in all federally funded housing programs
Voting Rights Act of 1965
Civil Rights Act of 1964
Fair Housing Act of 1968
Civil Rights Act of 1866
Definition 11 of 85
Investigate complaints
Exclusive Contracts
Fair Housing Laws
Peer Review Advisors
Valid Contracts
, Definition 12 of 85
Licensee represents the buyer and the seller in one transaction, requires written consent of
both parties, presented with a disclosure
Designated Agent
Single Agency
Dual Agency
Dual Agent
Definition 13 of 85
Conducted by IDFPR, determine suspension or revocation, investigation is conducted,
licensee is notified within 30 days prior to the hearing
Hearings
Logrolling
Conferences
Committees
Definition 14 of 85
Implied by someone's actions (dog groomer, nail salon)
Implied Contracts
Dual Agency
Express Contract
Executed Contract
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