Llinois real estate - Study guides, Class notes & Summaries

llinois Real Estate Leasing Agent Exam

Illinois Real Estate Leasing Agent Exam Questions And Revised Correct Answers 2024 Already Passed A commercial lease calls for a minimum rent of $1200 per month 4% of the annual gross business exceeding $150,000. If the total rent paid at the end of one year was $19,200, how much business did the tenant do during the year? – ANSWER : A. $159,800 B. $250,200 C. $270,000 D. $279,200 C In Illinois, which of these statements is TRUE regarding a lease for more than one year?...

Objectives of Federal Reserve System - To counteract inflationary and deflationary trends, to create a favorable economic climate, to maintain sound credit conditions but NOT to control the secondary mortgage market Remainder Interest - A fee simple holder of a parcel of real estate grants a life estate to her daughter and stipulates that upon the daughters death, the property will pass to her grandson. The second estate is called A property buyer obtains a term loan to finance a home purc...

The final decision on the listing price for a property is made by the a) listing broker b) sponsoring broker c) seller d) appraiser - c) seller A rectangular parcel of land is 260 feet deep and 50 yards wide. How many square feet does it contain? a) 13,000 sq. ft. b) 36,400 sq. ft. c) 39,000 sq. ft. d) 52,000 sq. ft. - c) 39,000 sq. ft. A fee simple holder of a parcel of real estate grants a life estate to his son and stipulates that upon the son's death the property will pass to ...

Illinois Real Estate Exam- National Portion Questions and Answers 100% Verified Illinois Real Estate Exam- National Portion Questions and Answers 100% Verified Illinois Real Estate Exam- National Portion Questions and Answers 100% Verified Illinois Real Estate Exam- National Portion Questions and Answers 100% Verified What does the statue of frauds require? - ANSWER-That certain types of contracts, like property ownership transfer, be in writing to be legally enforceable. Offer an...

Illinois Real Estate Leasing Agent Exam

Illinois Real Estate Broker Exam Questions and Answers 100% Correct Illinois Real Estate Broker Exam Questions and Answers 100% Correct Illinois Real Estate Broker Exam Questions and Answers 100% Correct Illinois Real Estate Broker Exam Questions and Answers 100% Correct Truth in lending laws apply to which of the following loans? - ANSWER-A loan to a first-time home buyer To qualify as tax-deferred exchange, the property must be - ANSWER-held for productive use in trade or bu...

ILLINOIS REAL ESTATE BROKER EXAM NEWEST 2024 COMPLETE EXAM AND PRACTICE QUESTIONS 300 QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+

Acceptance By Ratification - ACCURATE ANSWERS The acceptance of lease terms that occurs when a tenant takes possession of the property but does not sign a lease. This form of acceptance is recognizable by the courts. Accord and Satisfaction - ACCURATE ANSWERS When all parties have agreed to a change in one or more of the terms of a contract Actual Eviction - ACCURATE ANSWERS Court action initiated by the lessor to have a tenant removed from the premises. Administrative Law Judge (ALJ) -...

Illinois Real Estate Leasing Exam Prep Questions With Solved Solutions, Graded A +