Real Estate Exam

Front 1

What is commonly referred to as “the Act” in Illinois real estate is actually:

Back 1

The Real Estate License Act of 2000

Front 2

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:

Back 2

Brokerage agreement

Front 3

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:

Back 3

Ministerial acts

Front 4

A sponsoring broker's office other than the sponsoring broker's principal office is known as:

Back 4

The branch office

Front 5

A credit hour must include classroom instruction in coursework of a minimum of:

Back 5

50 minutes

Front 6

The person who is being represented by a licensee is known as the

Back 6

Client

Front 7

Referral fees and bonuses for licensees are known as:

Back 7

ompensation

Front 8

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:

Back 8

blind ads