IREB - Illinois Real Estate Broker Examination

Question 21: Under IRS section 3508, a real estate agent is treated as a statutory non-employee if certain requirements are met. Which of the following BEST identifies the requirements for statutory non-employee status?

Licensed, output-based pay, and written agreement

Salaried payment regardless of output produced

Working for multiple brokers simultaneously

Filing as a sole proprietorship business entity

Question 22: Illinois exempts real estate licensees meeting certain criteria from the Illinois unemployment insurance system. Which of the following BEST identifies the statutory basis for this exemption?

Illinois Real Estate License Act section 15-50

Illinois Income Tax Act section 510

Illinois Workers' Compensation Act section 305

Illinois Unemployment Insurance Act section 217

Question 23: Real estate compensation in Illinois for brokerage activities may generally be paid only to certain categories of persons. Which of the following BEST identifies who may receive real estate brokerage compensation?

Licensed real estate persons primarily

Anyone who introduces buyers to sellers

Anyone with marketing experience

Anyone over the age of eighteen

Question 24: A real estate licensee in Chicago wishes to pay a referral fee to a licensee in another state who referred a buyer who later purchased a property in Illinois. Which of the following BEST describes the legal status of this payment under Illinois law?

Prohibited because referrer is out of state

Permitted directly between individual licensees only

Permitted broker-to-broker between licensed firms

Permitted only with IDFPR pre-approval

Question 25: RESPA section 8 prohibits kickbacks for referrals of settlement services in federally related residential mortgage transactions. Which of the following BEST identifies the type of payment that RESPA does NOT prohibit?

Cash payment for client referrals

Bona fide payment for services rendered

Anything of value for steering customers

Percentage kickback to title company

Question 26: Under the federal Telemarketing Sales Rule administered by the FTC, real estate companies making telephone sales solicitations must comply with the National Do-Not-Call Registry. Which of the following BEST identifies the frequency of registry checks required?

At least every thirty-one days

Annually at minimum

Once before each calling campaign

Monthly on the first calendar day

Question 27: The Telephone Consumer Protection Act regulates the use of autodialers and prerecorded calls in telemarketing. Which of the following BEST describes the consent requirement under TCPA for telemarketing calls using autodialers to consumers' cell phones?

No consent required for short calls under five minutes

Implied consent through existing business relationship

Express written consent required from consumer

Verbal consent sufficient if witnessed

Question 28: Real estate brokers must comply with the CAN-SPAM Act when sending commercial email messages to consumers. Which of the following BEST identifies a CAN-SPAM Act requirement for commercial email?

Obtain prior written consent before sending

Use only encrypted email services for transmission

Limit messages to one per recipient per month

Identify each message as advertising commercial content

Question 29: Illinois requires all real estate advertising to identify the sponsoring brokerage. A licensee in Schaumburg places an advertisement with only her own name and personal phone number. Which of the following BEST describes the legal status of this advertisement?

Acceptable if licensee identifies as Managing Broker

Blind advertisement prohibited under Illinois law

Acceptable for social media only

Acceptable with consumer disclaimer

Question 30: Real estate advertising in Illinois must be truthful and not misleading. A licensee includes a heavily edited photograph that significantly alters the property's appearance without disclosure. Which of the following BEST describes the legal status of this advertising practice?

Prohibited as misleading advertising violation

Permitted if disclosed in fine print only

Permitted for properties of any value

Permitted in marketing materials only

Question 31: The Illinois Real Estate License Act of 2000 establishes the framework for licensing and regulating real estate professionals in Illinois. Which of the following BEST identifies the statutory citation for this Act?

Seven hundred thirty-five ILCS five slash twelve dash nine zero one

Seven hundred sixty-five ILCS seventy-seven slash

Two hundred twenty-five ILCS four fifty-four slash

Seven hundred seventy-five ILCS five slash

Question 32: Illinois real estate licensing is administered by a specific state agency through its specialized division. Which of the following BEST identifies the administering agency?

Illinois Department of Real Estate

Illinois Department of Financial and Professional Regulation, Division of Real Estate

Illinois Department of Revenue, Real Estate Division

Illinois Real Estate Commission

Question 33: Unauthorized practice of real estate brokerage in Illinois is subject to civil penalties under the License Act. Which of the following BEST identifies the maximum civil penalty per occurrence under 225 ILCS 454/20-15?

Two thousand five hundred dollars

Ten thousand dollars

One hundred thousand dollars

Twenty-five thousand dollars

Question 34: Illinois exempts certain persons from real estate licensure requirements under 225 ILCS 454/5-20. Which of the following BEST identifies a category of persons exempt from licensure?

Attorneys at law acting professionally for clients

Anyone receiving compensation for real estate sales

Mortgage loan officers selling refinances

Out-of-state residents holding licenses elsewhere

Question 35: Activities triggering Illinois real estate licensure under 225 ILCS 454/1-10 include negotiating, listing, and offering real estate for compensation. Which of the following BEST identifies an activity that triggers the licensure requirement?

Selling personal property at a garage sale

Hiring a moving company for personal use

Negotiating a real estate lease for another for compensation

Receiving a gift of real estate from family

Question 36: An Illinois resident wishes to qualify for the entry-level real estate Broker license. The applicant must complete pre-license education at an IDFPR-approved school. Which of the following BEST identifies the required pre-license education for the Broker examination?

Seventy-five class hours including interactive applied principles

Sixty class hours total

Forty-five class hours total

One hundred sixty-five class hours total

Question 37: The Illinois Managing Broker license is the supervisory license required to own or operate a brokerage firm and sponsor other licensees. Which of the following BEST identifies a key authority of the Managing Broker license?

Authority to operate a brokerage without insurance

Authority limited to residential leasing activity only

Authority to perform legal closings without an attorney

Authority to sponsor other licensees and maintain special accounts

Question 38: The Illinois Residential Leasing Agent license has a unique feature allowing a person hired by a property management firm to begin leasing activity for a limited period before completing education and examination. Which of the following BEST describes this feature?

Sixty-day temporary leasing permit nonrenewable

One hundred twenty day temporary leasing permit nonrenewable

Six-month provisional leasing permit renewable once

One-year apprenticeship leasing permit

Question 39: New Brokers in Illinois must complete additional education after licensure but before their first renewal. Which of the following BEST identifies the post-license education requirement for new Brokers in their first renewal cycle?

Twelve hours of standard continuing education

Thirty hours of additional pre-license review

Forty-five hours of Post-License Education

Ninety hours of advanced practitioner training

Question 40: The Illinois Pre-License Instructor license authorizes the holder to teach approved pre-license, post-license, and continuing education courses. Which of the following BEST identifies a specific requirement for the Instructor license?

Twelve-hour Instructor Development Workshop

Forty-hour advanced pedagogy certificate

Graduate degree in real estate finance

Five years as a licensed Managing Broker

IREB Illinois Real Estate Broker Examination - Set 5 - Part 2