Free Illinois Real Estate Practice Exam

Q1.A buyer signs a residential purchase contract in Illinois on Monday. The seller signs and returns it on Wednesday. When does the attorney review period begin?

• A.Monday when the buyer signed
• B.Wednesday when the seller signed
• C.Thursday, the first business day after full execution
• D.The following Monday

Q2.Under Illinois landlord-tenant law, which of the following repairs is typically the tenant's responsibility in a residential rental property?

• A.Replacing a broken furnace
• B.Fixing a leaking roof
• C.Repairing damaged drywall caused by normal wear and tear
• D.Replacing light bulbs and batteries in smoke detectors

Q3.According to the Illinois Real Estate License Act, which statement about license examinations is correct?

• A.Examinations are administered only twice per year
• B.Applicants have unlimited attempts to pass the examination
• C.A passing score of 70% is required on both state and national portions
• D.Examination results are valid for two years from the test date

Q4.Which of the following best describes when the Illinois Real Estate Commission can take disciplinary action against a licensee?

• A.Only after a criminal conviction related to real estate
• B.When there is probable cause to believe a violation occurred
• C.Only when a complaint is filed by another licensee
• D.When a violation is proven by clear and convincing evidence

Q5.According to Illinois law, what happens if neither party's attorney disapproves a residential purchase contract during the attorney review period?

• A.The contract is automatically void
• B.The contract becomes binding on both parties
• C.The attorney review period is extended another 3 business days
• D.The contract must be re-negotiated

Q6.Which of the following is a potential civil penalty for a first-time fair housing violation in federal court?

• A.Up to $5,000
• B.Up to $16,000
• C.Up to $21,663 (adjusted for inflation)
• D.No civil penalty — only compensatory damages

Q7.Which of the following would most likely constitute illegal steering under federal fair housing law?

• A.Showing properties only in the price range requested by the buyer
• B.Directing minority buyers away from certain neighborhoods
• C.Recommending properties based on the buyer's stated preferences
• D.Providing market statistics for different areas

Q8.In Illinois, which form is typically used for residential real estate purchase agreements?

• A.Illinois Association of REALTORS® Residential Real Estate Contract
• B.Chicago Association of REALTORS® Purchase Agreement
• C.Illinois Real Estate Commission Standard Form
• D.Federal Housing Administration Contract

Q9.Under the Illinois Condominium Property Act, what percentage of unit owners must approve a decision to terminate a condominium?

• A.51%
• B.67%
• C.75%
• D.80%

Q10.Under Illinois law, which entity has the authority to adopt rules and regulations for the implementation of the Real Estate License Act?

• A.The Illinois General Assembly
• B.The Illinois Real Estate Administration and Disciplinary Board
• C.The Department of Financial and Professional Regulation
• D.The Illinois Association of REALTORS®

Q11.What is radon?

• A.A man-made chemical pollutant found in urban areas
• B.A naturally occurring radioactive gas that can accumulate in buildings
• C.A type of mold that grows in damp conditions
• D.A pesticide residue commonly found in agricultural properties

Q12.A condominium association holds title to common areas as which type of ownership?

• A.Tenancy in common among all unit owners
• B.Joint tenancy with right of survivorship
• C.Fee simple absolute in the association's name
• D.Tenancy by the entirety among married unit owners

Q13.A buyer's agent learns that the seller is facing foreclosure but the listing agent hasn't disclosed this. The buyer's agent should:

• A.Keep the information confidential
• B.Advise the buyer but not disclose the source
• C.Contact the listing agent directly
• D.Disclose the information to the buyer

Q14.The Truth-in-Lending Act (TILA) requires disclosure of the Annual Percentage Rate (APR) because it:

• A.Shows the actual interest rate charged by the lender
• B.Includes the total cost of credit expressed as a yearly rate
• C.Determines the borrower's debt-to-income ratio
• D.Calculates the maximum loan amount for qualification

Q15.Under Illinois law, which of the following statements about contract assignments is correct?

• A.Purchase contracts cannot be assigned without seller approval
• B.All real estate contracts are freely assignable
• C.Assignment rights depend on contract language and Illinois law
• D.Only brokers can assign real estate contracts