The Illinois Real Estate Exam is administered by the State of Illinois Department of Financial and Professional Regulation Bureau of Real Estate Professions for aspiring real estate brokers, Managing brokers, Leasing Agents, Real Estate firms, Real Estate Appraisers, Auctioneers, Auction firms, and Home Inspectors. This practice test will help you in your preparation for the exam.
Fixed-rate mortgage loan
Unconventional loan
Adjustable-rate mortgage loan
A & C
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You're not guilty.
You never received the notice.
You were on a vacation so you couldn't respond.
You politely ask the creditors to remove it.
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If the promissory note was made with a recourse clause.
If the sale does not bring enough to pay existing balance of principal and fees.
A & B
None of the above.
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Short-term loans secured with collateral owned by the business requesting the loan.
Loans to businesses.
Loans to individuals.
A & B
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Completely true
Occasionally true
Depends on the agreement
Not true
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Mortgage companies.
Loan associations.
VA
FHA
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Access to loans on ground
Miscellaneous fund
Contingency fund
B & C
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Kind
Honest
Impartial
Interested in the property
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It helps to know the true cost of obtaining credit.
Discloses cost of commercial loans only.
Helps to control the interest rates.
A & C
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