Idfpr Study guides, Class notes & Summaries

What is the IDFPR? - ANSWER Illinois Department of Financial and Professional Regulation -the State entity that issues real estate licenses What are the 4 divisions of the IDFPR? - ANSWER 1. Real Estate Administration and Disciplinary Board 2. Real Estate Research and Education Fund 3. Real Estate Administration Fund 4. Peer Review Advisors How many people are on the Real Estate Administration and Disciplinary Board and who are they appointed by? - ANSWER 9 people and are appointed ...

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, (2) Commercial, (3) Industrial, (4) Agricultural, (5) Special Purpose List the factors that affect supply in the real estate market. - (1) Labor force costs, (2) Construction costs, (3) Governmen...

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 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 profici...

Which is the only body that provides licensure - IDFPR TJC accredits types of pharmacies? - Home infusion Long Term Care Specialty Community NOT hospital What is licensure? - the process by which government grants permission to an individual if determined to have a minimal competency in a certain field of study to ensure that the public health and safety will be protected What is certification? - -Voluntary -Time-limited -predetermined standards Voluntary process by which individ...

Leasing License EXAM QUESTIONS AND ANSWERS 2024/2025 WITH COMPLETE SOLUTION What is the IDFPR? - answerIllinois Department of Financial and Professional Regulation -the State entity that issues real estate licenses What are the 4 divisions of the IDFPR? - answer1. Real Estate Administration and Disciplinary Board 2. Real Estate Research and Education Fund 3. Real Estate Administration Fund 4. Peer Review Advisors How many people are on the Real Estate Administration and Disciplinary B...

Leasing Exam Questions With 100% Correct Answers In Illinois for over 25 units, a tenant is entitled to interest on their security deposit was held for how many months? - answer6 Which of the following does not require disclosure? A. Radon B. Felons living onsite C. Lead-based paint D. Termites - answerfelons living onsite What was the date of the first civil rights act? - answer1866 Is it permissable to refuse to rent to a person with a poor credit history? - answeryes Who is acceptabl...

Leasing Exam Questions With 100% Correct Answers In Illinois for over 25 units, a tenant is entitled to interest on their security deposit was held for how many months? - answer6 Which of the following does not require disclosure? A. Radon B. Felons living onsite C. Lead-based paint D. Termites - answerfelons living onsite What was the date of the first civil rights act? - answer1866 Is it permissable to refuse to rent to a person with a poor credit history? - answeryes Who is acceptabl...

Leasing Exam Questions With 100% Correct Answers In Illinois for over 25 units, a tenant is entitled to interest on their security deposit was held for how many months? - answer6 Which of the following does not require disclosure? A. Radon B. Felons living onsite C. Lead-based paint D. Termites - answerfelons living onsite What was the date of the first civil rights act? - answer1866 Is it permissable to refuse to rent to a person with a poor credit history? - answeryes Who is acceptabl...

Which of the following BEST describes the report statement shown below? "The roof is in good condition for its age." - ANSWER Conclusion Which of the following conditions would be LEAST critical to your client's safety? - ANSWER A pin hole in the heat exchanger It is important to maintain a positive grade away from the structure of at LEAST _______ inch drop per foot for six feet. - ANSWER 1 inch The normal MINIMUM run for a residential stair tread is: - ANSWER 9 inch Standard t...

Chapter 16 Illinois Real Estate Licensing Law Which of the following types of listing agreements must be in writing to be enforceable? A. Exclusive agency listing agreements only B. Exclusive Right-to-Sell listing agreements only C. All listing agreements D. Both a and b D. Both a and b All exclusive agency listing contracts and exclusive right-to-sell listing Contracts must be in writing, in Illinois, to be enforceable. Written listing agreements that do not provide for automa...