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8 Cards in this Set

  • Front
  • Back
What is commonly referred to as “the Act” in Illinois real estate is actually:
The Real Estate License Act of 2000
A written or oral agreement between a sponsoring broker and a consumer for licensed activities to be provided to a consumer in return for compensation or the right to receive compensation from another is called a:
Brokerage agreement
Acts that a licensee may perform for a consumer, which are informative or clerical in nature and do not rise to the level of active representation on behalf of a consumer are known as:
Ministerial acts
A sponsoring broker's office other than the sponsoring broker's principal office is known as:
The branch office
A credit hour must include classroom instruction in coursework of a minimum of:
50 minutes
The person who is being represented by a licensee is known as the
Client
Referral fees and bonuses for licensees are known as:
ompensation
Ads not stating the broker’s name, not stating that the advertiser is licensed, or those with only a phone number, P.O. box, or street address are known as:
blind ads