Illinois broker licensing - Study guides, Class notes & Summaries

Real estate sale associate pre license course exam prep (GOLD COAST HIGHLIGHTS) Questions and Answers 100% Correct Farming - Correct Answer ️️ -licensee concentrate on one type or style of property or on one particular neighborhood Farm area or target market - Correct Answer ️️ -Finding and specializing in a particular neighborhood or type of property. Considered to be one of the best ways to succeed in the real estate business Tract building - Correct Answer ️️ -When a devel...

Kevin is an Illinois sponsoring broker. RaeAnn is one of Kevin's sponsored licensees. RaeAnn is representing the Bothwell's as a listing agent. TJ, also one of Kevin's sponsored licensees, is representing James, who's buying the Bothwell's house. Under Illinois licensing law, who is a designated agent? Both RaeAnn and TJ As the property manager, Galena places security deposits in an interest-bearing account for her landlord, who owns 42 rental units. Galena isn't permitted to accept a l...

Illinois leasing agent practice exam Questions With 100% Correct Answers the leasing agent license shall expire on July 31st of: - answereven numbered years sponsoring brokers must submit the 45 day sponsor card to IDFPR within: - answer24 hours of employment leasing agent licensees must complete how many hours of containing education during the 24 month period prior renewal: - answer8 hours of continuing education The real estate recovery fund is: - answera fund at IDFPR to reimburse per...

Real Estate Express Illinois Questions and Answers 100% Pass Which agency in Illinois has responsibility for licensing schools and instructors? Training and Development Department Division of Real Estate Standards Council Advanced Advisory Council Division of Real Estate Which of the following is NOT an activity included in the definition of Broker? Sells, exchanges, purchases, rents, or leases real estate. Negotiates the sale, exchange, purchase, rental, or leasing of real estate. Holds...

Illinois Real Estate Exam Prep Already Passed Who can and cannot complete the property condition disclosure documents? Disclosure documents must be completed by the seller, a family member (and signed by the seller), or seller's attorney or power of attorney. The licensee must never complete the disclosure forms. 2. What must a licensee do if he or she takes a listing on a home built prior to 1978? The licensee must have the sellers fill out a disclosure form about their knowledge or lack of ...

Illinois Leasing agent exam prep Test Questions 100% Correct Answers The leasing agent license shall expire on July 31st of: - Answer -even numbered years Sponsoring brokers must submit the 45 day sponsor card to IDFPR within: - Answer -24 hours of employment Leasing agent licensees must complete how many hours of containing education during the 24 month period prior renewal: - Answer -8 hours of continuing education The real estate recovery fund is: - Answer -a fund at IDFPR to reim...

Mr. Smith sells his Illinois home for $151,050. He will be required to pay how much in Illinois transfer taxes? A » $ 227.25 B » $ 226.58 C » $ 454.50 D » $ 453.16 - ANSWER A Illinois transfer tax is $.75 per $500 of sales price, or portion thereof and is paid by the seller. $.50 goes to the state and $.25 is retained by the county where the property is located. $151,050 divided by $500 = 302.10. In this case, the .10 indicates we have a portion of the next $500 of sales price in ad...

Indiana state questions Correct answers latest update T, a licensee from Illinois, has been retained by the probate court to sell all the real estate in J's estate. One of the properties located in INDIANA. If T wants to sell the property located in INDIANA. In this situation. which of the following statements is correct? T can apply to the Indiana real estate commission for written permission to sell the property The attorney general do may do which of the following? Subpoena docu...

Illinois Leasing agent Exam prep with correct Answers New Update The leasing agent license shall expire on July 31st of: - Answer -even numbered years sponsoring brokers must submit the 45 day sponsor card to IDFPR within: - Answer -24 hours of employment leasing agent licensees must complete how many hours of containing education during the 24 month period prior renewal: - Answer -8 hours of continuing education The real estate recovery fund is: - Answer -a fund at IDFPR to reimburs...

Real estate sale associate pre license course exam prep (GOLD COAST HIGHLIGHTS) Farming licensee concentrate on one type or style of property or on one particular neighborhood Farm area or target market Finding and specializing in a particular neighborhood or type of property. Considered to be one of the best ways to succeed in the real estate business Tract building When a developer acquires a large tract of land, records a subdivision plat map, and uses a model center from which ...