Illinois Real Estate License Test With 150

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Illinois Real Estate License Test 2025/2026 With 150 Practice Questions And Correct Verified Answers/ IL Real Estate Exam Prep 2025 (Brand New!)

• The purpose of the title commitment

in a real estate sale is to: indicate that the title insurance company will insure the title

• Which of these best describes the primary purpose of the Real Estate License Act?:

To protect the public from unqualified or dishonest licensees

• A listing agreement provides for the payment of a commission to the broker even if

the owner sells the property without the broker's help.

This type of listing agreement is called: an exclusive-right-to-sell listing.

• The buyer in a real estate transaction records the documents affecting his or her title

and interest in the real estate to legally provide: constructive notice

• The continued use of a property that was lawful at the time the use began but now is

in violation of a zoning regulation is an example of: a nonconforming use

• Which of these deeds should the grantor use to transfer title without providing any

warranties to the grantee?: Quitclaim deed

• Under the Real Estate License Act of 2000, a person who seeks or receives

real estate brokerage services is a: consumer

• What would probably occur if a tenant's lease is breached because the landlord has

allowed the unit in an apartment building to become uninhabitable?: Constructive eviction

• A seller received an offer to purchase her house from a prospective buyer.

The seller will still be able to accept

the offer even if: another offer is received from a third party

• One general rule of the federal do-not-

call regulations is: unsolicited phone calls must not be 1 / 3

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made to a number listed on the national registry.

• On Wednesday, a property seller offers to sell his house to a potential buyer

for $320,000. On Sunday, the buyer makes a counteroffer of $310,000. On Friday, the buyer withdraws the counteroffer of $310,000 and accepts the seller's offer of $320,000.In this situation there is: no valid agreement because the buyer's counteroffer ended the seller's offer.

• Which expense is usually NOT prorated between the buyer and seller?: Broker's

commission

• What type of lease requires the lessee to pay for the insurance, taxes, and

maintenance on the property in

addition to a rental payment?: Net lease

• The sale of a single-family home by the owner is exempt from the Illinois

Human Rights Act if the owner: does not own more than three single-family homes at one time.

• A property management agreement

typically includes a: statement of the owner's objectives for the property.

• A rectangular parcel of land is 260 feet deep and 50 yards wide. How many square

feet does it contain?: 39,000 sq. ft.

• An investor purchased a building for

$360,000 by paying 10% down and financing the rest of the purchase price. The lender charged two points as a loan origination fee. How much

was the investor charged for the fee?: $6,480

• The Real Estate License Act of 2000 is administered by the: Illinois Department of

Financial and Professional Regulation

• A seller has a listing agreement with a real estate company. A second real estate

company brings a buyer for the house. If the seller owes a 2 / 3

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commission to the second real estate company who brought the buyer and not the first company, what type of listing agreement must the seller have

had with the first company?: An open listing

• A lease agreement contains a clause that gives the tenant the right to purchase the

property at a specified price. This type of agreement is called a?: lease with option to buy.

• The owner of a property died and left a will written entirely in the owner's

handwriting. This type of will is called: holographic will.

• Complaints pertaining to the Illinois Human Rights Act may be filed with the:

Department of Human Rights.

• Which of these situations would be

considered a dual agency?: A broker acting for both the buyer and seller in the same transaction

• If the sole owner of a property with a fee simple absolute ownership interest dies

and leaves no will, the owner's

title passes in accordance with the: laws of descent and distribution.

• Which of these would a licensee, who is an independent contractor, receive

from the employing broker?: Commissions based on sales transactions

• Which of these is TRUE regarding owners holding title to real estate by

joint tenancy?: They have right of survivorship.

• According to Article 15 of the Real Estate License Act of 2000, a person who is not

being represented by a licensee, but for whom the licensee is

performing ministerial acts, is called a: customer

• In Illinois, managing broker licenses

are renewed every two years by: April 30 in odd-numbered years.

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