Download Illinois Leasing Agent Practice Exam (Actual 2025/2026) 50 Questions And Answers and more Exams Contract Law in PDF only on Docsity!
Illinois Leasing Agent Practice Exam (Actual 2025/2026) 50 Questions And 100% Verified Correct Answers.
- The lease contract stated that the renters would bring in the security deposit within five days. It is now the sixth day and the renters have not brought in the money. This is legally referred to as:
Breach
- In dealing with the public, a licensee:
may keep silent about a material fact concerning the property if the client is the owner. d) may negotiate different commissions with different owners.
- Escrow monies:
could include security deposits as well as earnest money.
- An offer may be terminated:
if it is rejected; if it is changed; or if it is revoked before acceptance.
A property management company runs a complex of several buildings, all belonging to the same owner and on the same parcel of land. At the owner's request, the manager has made apartments available to families with children in just two of the buildings. This practice is:
Steering
- Which of the following is illegal?
Refusing to hire an otherwise qualified person because a disability will necessitate occasional time off work.
- The amount of security deposit in a contract for the lease of real property is determined by:
Agreement of the parties.
- Broker Doug has an office in Chicago. A licensee with Broker Doug is the designated agent of the owner. Another licensee with Broker Doug is the designated agent of the renter. Which of the following statements is true?
In Illinois, this situation avoids dual agency for the broker.
- To be enforced, the Statute of Frauds requires that all contracts for the sale or lease of real estate be:
In writing
- A young couple with a toddler and an infant want to lease an apartment in a complex that is occupied primarily by adults. The rental agent shows the couple apartments only on the first floor. Which of the following is true?
The rental agent should have inquired about the couple's preference for apartments.
- On Tuesday, the agent received an offer and a check for security deposit from a renter. The owner accepted and signed the lease at 11 am on Wednesday. The agent must:
deposit the money in his escrow account by the close of business on Thursday.
- The primary requirement of a contract would be:
Offer and acceptance
- Because of the complexity of laws that affect real estate today, a property manager should be familiar with all of the following EXCEPT:
the "Blue-Sky" laws.
- If a complaint goes to the federal courts based on the Civil Rights Act of 1866, the complaint would be that there was discrimination based on:
Race
- When a tenant, who has a written lease with the owner, sublets all or any part of the premises:
the original lease is unaffected unless it contains a provision that prohibits such subletting.
- Which of the following people may discriminate on the basis of race?
No one
- It would be a violation of the antitrust laws for a broker to: a) charge one owner 7% while charging another 6%.
agree to a minimum commission with other brokers
- A tenant has an estate for years. According to the written one-year lease, the tenancy will expire on September 30. For the landlord to obtain possession as of that date, he must give the tenant:
No notice
- The Illinois Law of Agency demands that agents do which of the following for their principals?
All of the above
- An owner has traditionally rented to singles only in his large apartment complex. The owner has turned away all married couples and an elderly single man. Which of the following statements is true?
The owner would be in violation of the Illinois Human Rights Act.
- A landlord was very pleased with the listing agent's performance. The landlord offered a check for $300 as a thank you. What should the agent do in this situation?
Ask that the check be rewritten to the brokerage.
- A real estate licensee's relationship with an owner who has employed the licensee to bring about the lease of the property is governed by the state license act which includes:
The law of agency.
- An individual rents an apartment and has a one-year lease. The landlord sells the building during the term of the lease. What effect does the sale have on the lease?
The sale does not affect the lease.
- An agent leases a house and in the process misrepresents to the renter that the rent for the home included all utilities and does so without the owner's knowledge. Which of the following would be true according to the Illinois License Act?
The agent is liable; the owner is not.
- The legal tests of a fixture can include:
adaptation: how does the item adapt to the real estate.
- In Illinois all the following statements are true EXCEPT:
A landlord may never keep a security deposit without a written explanation to the tenant.
- How many days' notice is required to terminate a month- to-month tenancy in Illinois?
30
- A landlord who owns a 20-unit apartment building has held a tenant's security deposit for four months. The tenant, who is on a month-to-month lease, informs the landlord that he will be vacating the apartment in 30 days. Based on these facts, which of the following statements is true?
The landlord owes the tenant no interest on the security deposit.
- Regulations regarding lead-based paint require that:
known paint hazards be disclosed
- One general rule of the Do Not Call Registry is:
it is illegal to make an unsolicited phone call to a number listed on the national registry
- The Real Estate Settlement Procedures Act prohibits certain practices such as:
a licensee receiving a referral fee for referring a client to a moving company or other service provider
We have an expert-written solution to this problem!
It is legal to ask a potential renter which if the following questions.
Are you over the age of 18?
- Which of the following statements are true regarding the presence of mold?
All of the above
- In buildings built before 1978, a lead-based paint disclosure must be given to a tenant:
all tenants prior to signing a lease.
- A leasing agent representing the owner of the building is showing an apartment to a prospective tenant. The agent knows that a murder/suicide took place in the apartment several months ago. The agent should:
not disclose this fact, since disclosing would not be in the owner's best interest.
