Illinois Leasing Agent UPDATED Questions and CORRECT Answers
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Course
Illinois Leasing Agent
Institution
Illinois Leasing Agent
Illinois Leasing Agent UPDATED
Questions and CORRECT Answers
the leasing agent license shall expire on July 31st of: - CORRECT ANSWER- even
numbered years
sponsoring brokers must submit the 45 day sponsor card to IDFPR within: - CORRECT
ANSWER- 24 hours of employment
Illinois Leasing Agent UPDATED
Questions and CORRECT Answers
the leasing agent license shall expire on July 31st of: - CORRECT ANSWER✔✔- even
numbered years
sponsoring brokers must submit the 45 day sponsor card to IDFPR within: - CORRECT
ANSWER✔✔- 24 hours of employment
leasing agent licensees must complete how many hours of containing education during the 24
month period prior renewal: - CORRECT ANSWER✔✔- 8 hours of continuing education
The real estate recovery fund is: - CORRECT ANSWER✔✔- a fund at IDFPR to reimburse
persons who suffer loss due to a licensees actions.
The general requirements for a residential leasing agent to obtain a license include: -
CORRECT ANSWER✔✔- applicant must be 18 years of age, must have a highschool
diploma or GED, must have a sponsoring broker or firm.
True or False; All licensed agents must be sponsored by a sponsored broker or firm? -
CORRECT ANSWER✔✔- true
True or False; Leasing agents must be 21 years of age and only engage in the sale of
residential property? - CORRECT ANSWER✔✔- false
Disciplinary actions for leasing agents: - CORRECT ANSWER✔✔- Shall conform with
disciplainary actions for licensed real estate brokers
An applicant shall not practice as a student leasing agent _____________. - CORRECT
ANSWER✔✔- more than once in a 24 month period.
Which of the following is true about sponsor cards?
a-sponsor cards are only issued for residential leasing agents
, b-all sponsor cards are issued by IDFPR
c- It is a temporary 45 day permit issued by the sponsoring broker
d-it is a 180day student permit - CORRECT ANSWER✔✔- c
The real estate recovery fund is maintained by IDFPR, who is eligible to collect damages
from this account? - CORRECT ANSWER✔✔- Any person who suffered a loss based on a
licensees conduct.
How many times can a person take the state licensing exam before they have to repeat the
course again? - CORRECT ANSWER✔✔- 4 times
the IDFPR requires escrow records to be maintained by the sponsoring broker: - CORRECT
ANSWER✔✔- 5 years
When must escrow money be deposited by the sponsoring broker? - CORRECT
ANSWER✔✔- No later than the next business day following the transaction.
Where is the original license for a leasing agent kept? - CORRECT ANSWER✔✔- In the
sponsoring brokers principal office
Mary is sponsoring broker, she was found guilty of a license act violation. Her license was
suspended. What is the status of the licenses that were sponsored by Mary? - CORRECT
ANSWER✔✔- All sponsored licensees immediately go into inactive status.
Which of the following is not a blind ad? - CORRECT ANSWER✔✔- An advertisement for
rental property with the brokerage company name and phone number listed on the ad.
A licensee seeking an apartment encountered discrimination based on his age. Which one of
the following statements is correct regarding the real estate recovery fund?
a- the licensee may not file a complaint with IDFPR because of the real estate recovery fund
is for members of the general public and not licensees.
b- the licensee may not file a complaint because there is no witness to the discrimination
when the licensee claims that discrimination took place
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