The question is bolded and answer is after the question. Please correct if you see any errors

Which of the following persons is required to have an Illinois broker license- a commercial leasing agent

In Illinois which of the following individual must hold a real estate license- A relative who is paid to help sell property

A property owner dies without a will in Illinois the owner is there will be divided in accordance with- intestate succession

A licensee sponsored by XYZ Realty wants to work for ABC Realty on the weekends ABC realty is a licensed property management company is the licensee permitted to do this -yes but the licensee must also obtain a leasing agent license

Illinois residential real property disclosure act requires the sellers to disclose- that they have occupied the property in the last 12 months

Which property owners in Illinois are totally exempt from paying general real estate taxes-properties of religious charitable and educational organizations. Or senior citizen.

The purpose of the Illinois affordable housing act is to- assist low income families in the purchase of housing

A broker has held a license in Illinois for 10 years. The broker must complete how many continuing education hours per renewal period?- 12 hours

under the Illinois real estate license act of 2000, which of the following requires the owner's written consent?- placing a lock

In Illinois, a licensee is subject to disciplinary action for failing to?- Have the escrow account audited by an accountant

The purpose of the Real Estate Recovery Fund in Illinois is to- Provide funds to a person to recover damages sustained as a result of certain Illinois Real Estate License Law violations

A house in Springfield Illinois has an assessed value of 50000. This would- 50000

The purpose of the Illinois Affordable Housing Act is to- Assist low-income families in the purchase of housing.

A sponsored licensee owns one-quarter of an investment property- because the licensee owns only a quarter no disclosure is necessary

in a real estate transaction, two Illinois licensees sponsored by the same brokerage firm may disclose confidential Information only to the- other licensee and the designated managing broker.

A real estate company wants to offer a new car to anyone purchasing a home priced in excess of $1,000,000. Is this allowed by to the- Yes, they can do this as long as the conditions are spelled out in any ad

For a licensed broker to obtain an Illinois managing broker's license, the broker must- complete 45 additional hours of re-license education.

in addition to federally protected classes, the Illinois human right act addresses- sexual orientation, color, and handicaps

in a real estate transaction in Illinois a detailed closing statement must be given- seller and buyer

How is earnest money deposit usually applied at closing on the settlement statement- credit the buyer

an Illinois broker listing a property whose owner is dying of aids- is not required to disclose this fact to agents showing the property.

a property sells for $150,600. the settlement sheet will reflect how much Illinois state- $226.50

In Illinois, once a payment is made from the real estate recovery fund because of a judgement against a licensee, that licensee is- subject to automatic license revocation

In Illinois, can a licensee ever legally act on behalf a lessor and lessee in a transaction?- yes, If the licensee has the informed written consent of all parties involved in the transaction

In Illinois, who can legally be paid or receive a commission or fee?- An actively licensed real estate broker who only makes referrals

Illinois licensees whose primary business involves commercial real estate sales and leasing are required to- act as dual agents

A potential buyer signs a contract with a seller but then decides not to buy. The seller asks for specific performance- a bilateral contract

Which of the following is true concerning the Illinois Residential Real Property Disclosure Act?- If the seller refuse to give a completed disclosure form, the buyer may terminate the contract.

in Illinois a sponsoring broker may be subject to disciplinary action upon proof of-

refusing to accept a listing because the seller only holds equitable title

In Illinois, under what condition is a licensee permitted to withhold information concerning their interest in a property for sale? - When another licensee handles the transaction

It is important for a sponsored licensee to know the status of their sponsored brokers license- because the licensees license will be inactive if the sponsor your brokers license is inactive

Which of the following may a sponsoring broker legally do in illinois?- Inform serious buyers that the sellers will accept less than the purchase price the sellers have disclosed to the broker.

In Illinois which of the following actions may be taken by a real estate licensee- filing in the blanks on a standard form real estate contract

An illinois real estate licensee believes they will have less liability if they personally establish a corporation. In their independent contractors agreement broker, they specefically state that they want to be sponsored as a licensee by their broker but want their commission paid to "Mike Lewis Incorporated". Which of the following is true?- the corporation must be licensed with the department of the financial and the professional regulations on the basis of which all this kind of things will happen in order to you have the possibility.

An Illinois broker had a listing for over a year. The listing is now expire and has been relisted with another agent with a different company. The original listing broker is now representing buyers who would like to buy the home. What should this broker tell their buyers?- Anything about the property that would not be considered confidential.

A developer/subdivider intends to divide a 20-acre parcel of land into 20 residential lots by installing water, sewer, and a roadway to each lot. The Illinois Plat Act requires- a metes and bounds legal description

In Illinois license who has received a brokers license and a sponsored by the brokerage firm can- write an offer with supervision of the designated managing broker