Illinois Real Estate Broker Examination State Portion — Information & Free Practice
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Illinois Real Estate Broker Examination State Portion
- Provider
- PSI Services LLC
- Format
- Computer-administered written examination
- Exam questions
- 40 scored items
- Time limit
- 90 minutes
- Passing score
- 75%
Examination outline
I. Licensing Requirements (10%)
- A. Activities requiring a license
- B. License exemptions
- C. Types of licenses
- C. Types of licenses — 1. Broker
- C. Types of licenses — 2. Managing Broker
- C. Types of licenses — 3. Residential Leasing Agent
- C. Types of licenses — 4. Instructor (pre-license and continuing education)
- D. Eligibility for licensing, including sponsorship
- E. Examination
- F. License renewal
- G. Post-licensing and continuing education
- H. Change in address, name, or business information for a licensee
II. Illinois Real Estate License Act (40%)
- A. Agency relationships
- A. Agency relationships — 1. Stigmatized property issues
- A. Agency relationships — 2. Material facts
- B. Advertising
- C. Sponsored licensee/sponsoring broker relationship
- D. Brokerage agreements
- D. Brokerage agreements — 1. Non-exclusive
- D. Brokerage agreements — 2. Exclusive
- D. Brokerage agreements — 2. Exclusive — a. Minimum services
- E. Compensation requirements
- E. Compensation requirements — 1. Contractual obligation
- F. Interference with contracts or agreements
- G. Licensed/Unlicensed assistants
- H. Teams
- H. Teams — 1. Team names
- H. Teams — 2. Supervision
- I. Handling of monies
- I. Handling of monies — 1. Special accounts
- I. Handling of monies — 2. Security deposits
- J. Handling of documents
- K. Disciplinary provisions
- K. Disciplinary provisions — 1. Unprofessional conduct
- L. Comparative market analysis (CMA)/Broker price opinion (BPO) requirements
- M. Purchase contracts and lease agreements
- M. Purchase contracts and lease agreements — 1. Chicago Bar Association et al vs Quinlan and Tyson inc.
- N. Purpose of License Law
III. Additional Illinois Laws and Regulations Affecting Real Estate Practice (25%)
- A. Ownership interests
- A. Ownership interests — 1. Trusts
- A. Ownership interests — 2. Homestead
- A. Ownership interests — 3. Government powers
- A. Ownership interests — 4. Co-ownership
- A. Ownership interests — 5. Condominiums
- A. Ownership interests — 6. Cooperatives
- B. Performing activities exceeding the scope of real estate licensing
- B. Performing activities exceeding the scope of real estate licensing — 1. Law
- B. Performing activities exceeding the scope of real estate licensing — 2. Securities
- B. Performing activities exceeding the scope of real estate licensing — 3. Illinois Business Broker Act
- C. Transfer taxes
- D. Transfer of title
- D. Transfer of title — 1. Involuntary vs voluntary transfer
- E. Legal description/Plat Act
- F. Real estate taxes and exemptions
- G. Illinois Human Rights Act
- G. Illinois Human Rights Act — 1. Fair Housing advertising rules
- H. Illinois Assistance Animal Integrity Act
- I. Illinois Landlord Tenant Act
- J. Commercial Broker Lien Act
- K. Radon Resistant Construction Act
IV. Disclosures (25%)
- A. Agency
- A. Agency — 1. Designated agencies
- A. Agency — 1. Designated agencies — a. Seller/landlord
- A. Agency — 1. Designated agencies — b. Buyer/tenant
- A. Agency — 1. Designated agencies — c. Dual
- A. Agency — 2. Notice of no agency relationship
- A. Agency — 3. Prohibition against transactional broker and facilitator
- A. Agency — 4. Contemporaneous offers
- B. Licensee status direct/indirect interest
- C. Compensation sources
- D. Property disclosure
- D. Property disclosure — 1. Residential Real Property Disclosure Act
- D. Property disclosure — 2. Material defects
- E. Environmental and other disclosures
- E. Environmental and other disclosures — 1. Radon
- E. Environmental and other disclosures — 2. Lead based paint
- E. Environmental and other disclosures — 3. Mine subsidence
- E. Environmental and other disclosures — 4. Underground storage tanks
- E. Environmental and other disclosures — 5. Flooding (landlords)
Examination sources
- IDFPR Division of Real Estate Candidate Information Booklet
printed p. 14, State-specific published outline
- IDFPR Division of Real Estate Candidate Information Booklet
printed p. 15, State-specific published outline
- IDFPR Division of Real Estate Candidate Information Booklet
printed p. 16, State-specific published outline
- Real Estate License Act of 2000
225 ILCS 454/5-27
- IDFPR Division of Real Estate Candidate Information Booklet
p. 11, broker scored point count
- IDFPR Division of Real Estate Candidate Information Booklet
p. 11, Examination Summary Table, broker
- IDFPR Division of Real Estate Candidate Information Booklet
p. 10, Core Reporting
- IDFPR Division of Real Estate Candidate Information Booklet
p. 10, Computer administration
- IDFPR Division of Real Estate Candidate Information Booklet
p. 1, Broker eligibility
- IDFPR Division of Real Estate Candidate Information Booklet
p. 7, Re-taking a Failed Portion
- IDFPR Division of Real Estate Candidate Information Booklet
p. 11, Examination Summary Table, broker
Related license preparation
This examination may be required or accepted as an alternative, depending on the license and application pathway.