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Real Estate Salesperson Exam — National Portion

Agency (IL): practice questions

Our Real Estate (National) bank has 7 questions on this topic. Here are 5 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Illinois

Which may an Illinois dual agent tell the seller?

  1. The highest price the buyer will pay
  2. The buyer's financial qualification
  3. A price the seller should accept
  4. The buyer's confidential information
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B. The buyer's financial qualification — 225 ILCS 454/15-45(a), dual agency form.

Question 2 · Illinois

Which may an Illinois dual agent NOT tell the buyer without the seller's permission?

  1. Information about the property
  2. Comparable sales data
  3. A price the seller would take below list
  4. Known latent defects
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C. A price the seller would take below list — 225 ILCS 454/15-45(a).

Question 3 · Illinois

Which of these must an Illinois seller's licensee disclose to a buyer customer?

  1. That a past occupant had HIV
  2. Known latent defects a reasonable inspection would miss
  3. Crimes at a nearby property
  4. The seller's reason for moving
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B. Known latent defects a reasonable inspection would miss — 225 ILCS 454/15-25; 15-20 bars claims for not disclosing HIV or off-site facts.

Question 4 · Illinois

In Illinois, who does a licensee represent by default when no written agreement says otherwise?

  1. The seller in every case
  2. The consumer they work with, as designated agent
  3. Nobody, as a facilitator
  4. Both parties equally
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B. The consumer they work with, as designated agent — 225 ILCS 454/15-10.

Question 5 · Illinois

In Illinois, does paying a licensee's commission create an agency relationship?

  1. Yes, always
  2. No, compensation doesn't determine agency
  3. Only if the buyer pays the commission directly
  4. Only in commercial deals
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B. No, compensation doesn't determine agency — 225 ILCS 454/15-40.

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