Yha - Core A Fair Housing, Agency, License Law And Escrow Final Exam (25 Questions)

25 Questions | Total Attempts: 93

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Yha - Core A Fair Housing, Agency, License Law And Escrow Final Exam (25 Questions)

3-Hour Continuing Education Course Final Exam


Questions and Answers
  • 1. 
    The intent of the Illinois Real Estate License Act is to protect the public and to prevent misunderstandings among consumers, customers, clients and real estate licensees.
    • A. 

      True

    • B. 

      False

  • 2. 
    Under the License Act, licensees are held strictly accountable for advertising that is untrue.
    • A. 

      True

    • B. 

      False

  • 3. 
    The wording in a real estate advertisement should be reviewed to see if anyone would feel excluded by what is being said.
    • A. 

      True

    • B. 

      False

  • 4. 
    There must be an intentional act of discrimination in order to violate federal and state fair housing laws.
    • A. 

      True

    • B. 

      False

  • 5. 
    A licensee must have a property owner’s written consent in order to advertise the property on the internet.
    • A. 

      True

    • B. 

      False

  • 6. 
    Equal professional service means consistently providing the same level of service for everyone.
    • A. 

      True

    • B. 

      False

  • 7. 
    A broker must have an escrow account if he/she is going to hold monies belonging to others.
    • A. 

      True

    • B. 

      False

  • 8. 
    Brokers are required to maintain interest bearing escrow accounts at all times.
    • A. 

      True

    • B. 

      False

  • 9. 
    Defaults or breaches of contract often lead to disputes regarding funds held in a broker’s escrow account.
    • A. 

      True

    • B. 

      False

  • 10. 
    If there is a dispute about funds held in escrow, the broker may remit the funds to the party he/she feels is most entitled.
    • A. 

      True

    • B. 

      False

  • 11. 
    The Illinois Department of Financial and Professional Regulation may impose a civil penalty up to $25,000 for certain violations of the License Act.
    • A. 

      True

    • B. 

      False

  • 12. 
    Confidential information includes material information about the physical condition of the property.
    • A. 

      True

    • B. 

      False

  • 13. 
    A designated agent named by a sponsoring broker is the legal agent of the client.
    • A. 

      True

    • B. 

      False

  • 14. 
    A real estate licensee must have a written employment agreement with his/her employing broker.
    • A. 

      True

    • B. 

      False

  • 15. 
    An Illinois licensee must always perform a minimum level of service for his client.
    • A. 

      True

    • B. 

      False

  • 16. 
    A landlord may charge a higher security deposit to families with children because of a higher risk of damage to the property.
    • A. 

      True

    • B. 

      False

  • 17. 
    The Civil Rights Act of 1866 is no longer used in housing discrimination lawsuits.
    • A. 

      True

    • B. 

      False

  • 18. 
    The goal of establishing occupancy standards is to limit the number of children that can live in a dwelling unit.
    • A. 

      True

    • B. 

      False

  • 19. 
    Steering is leading home seekers to or away from certain neighborhoods.
    • A. 

      True

    • B. 

      False

  • 20. 
    A licensee may not represent two different parties in the same transaction.
    • A. 

      True

    • B. 

      False

  • 21. 
    Confidential information must remain confidential, even if the listing has terminated. 
    • A. 

      True

    • B. 

      False

  • 22. 
    A check received for initial earnest money may be deposited any time after contract contingencies are met.
    • A. 

      True

    • B. 

      False

  • 23. 
    A licensee must take great care to insure that marketing material is truthful and accurate.
    • A. 

      True

    • B. 

      False

  • 24. 
    Unprofessional conduct that is deceptive in nature is grounds for discipline of a real estate licensee.
    • A. 

      True

    • B. 

      False

  • 25. 
    A licensee may not be disciplined for dishonest conduct if said conduct is not specified in the License Act or Rules.
    • A. 

      True

    • B. 

      False

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