**ANSWERS WRONG OFF CESHOP FOR ***ILLINOIS SPECIFIC QUESTIONS**

Carissa died intestate (without leaving a will). She has no spouse and no children. Her father preceded her in death. Her mother and two sisters are alive. Carissa's estate is worth $500,000. How will the estate be distributed? Carissa's mother gets 50% and her siblings split the remaining 50% equally. Carissa's mother receives 25% and the sisters split the remaining 75% equally. The estate is split equally between Carissa's mother and sisters. The State of Illinois takes everything since Carissa had no spouse or children.

Carissa's mother gets 50% and her siblings split the remaining 50% equally. If Carissa's father had been living, he, Carissa's mother, and her siblings would have each received 25% of the estate. Since Carissa's father is deceased, Carissa's mother gets two shares and the siblings split the remaining amount.

Christian's license has been expired for four years and two months. He has decided he wants to renew his license. Which of these statements is true? Christian must complete all pre-licensing coursework and retake the licensing exam. Christian must complete the CE requirements for the most recent pre-renewal period. Christian must complete the continuing education coursework that would have been required if he'd remained licensed. Christian must complete the state portion of the licensing exam.

Christian must complete all pre-licensing coursework and retake the licensing exam.

Christian established a limited liability company (LLC) through which he conducts his real estate business. Which of these statements about compensation is correct? Because Christian has established a business entity, he may receive compensation through that entity directly from clients or other brokers. Christian's broker may compensate Christian through the established LLC. Christian's broker must compensate Christian directly. He may not compensate Christian through the LLC. It's illegal for Christian to form a business entity from which to run his real estate practice, so he can't be compensated through the LLC.

Christian's broker may compensate Christian through the established LLC. Illinois law specifically permits licensees to form a business entity and be compensated through that entity, as long as the entity is solely owned by the licensee or the licensee and the licensee's spouse, if the spouse is either not licensed or is licensed through the same brokerage firm.

Ivan qualifies for and takes advantage of the Illinois Senior Citizens Assessment Freeze Homestead Exemption. Which of these is true? A) Ivan isn't permitted to make any improvements to his property as long as the exemption is in place. B) Ivan's property tax bill will never increase as long as he qualifies for the exemption. C) Ivan's tax bill can only go up as much as the published rate of inflation every year. D) Ivan's tax bill may go up even with the exemption in place if he makes property improvements.

D) Ivan's tax bill may go up even with the exemption in place if he makes property improvements. This exemption freezes the property's assessed value, though taxes may go up if Ivan makes improvements to the property or tax rates increase.

Cassie just put an offer on a property that was being sold as a short sale. She's excited about the great deal she's getting on the property. What could cause Cassie's great deal to turn into a nightmare? A) The previous owner may redeem the property by paying Cassie at least 50% of the property's market value B) The seller's lender can review her credit and counter offer based on her income and financial assets C) The title insurance company may charge her additional fees after closing D) The title to the property may have hidden issues that could cost her a lot of money to clear

D) The title to the property may have hidden issues that could cost her a lot of money to clear A short sale transaction can come to a standstill until the cloud is cleared or resolved to the lender's satisfaction. Never encourage your client to move forward with a purchase that involves a clouded title. If an issue arose in the future, your license could be in jeopardy.

Jesse's tenant, Carson, lawfully terminated his lease and moved out on October 12. On which of these dates is Jesse outside the deadline for refunding Carson's security deposit? December 12 November 1 November 11 October 27

December 12 A landlord must refund a tenant's security deposit within 45 days.

Illinois licensee Devian manages four of Star Realty's office locations. She's also in charge of hiring employees and maintaining all transaction records. What kind of broker is she? Associate broker Broker Designated managing broker Sponsoring broker

Designated managing broker Devian is the designated managing broker for Star Realty, the sponsoring broker. She performs management duties in four of the firm's locations.

Marcus died intestate (without leaving a will). His wife, Elaine, and two children, Patrick and Rhonda, are in the line of succession to inherit his estate. According to Illinois law, how will the property be distributed? ecause he died with no will, Marcus's estate will be taken over by the state. Elaine receives 100% of the estate. Elaine receives 50% and the children each receive 25%. The estate is split equally between Elaine, Patrick, and Rhonda.

Elaine receives 50% and the children each receive 25%. While succession laws are complex, in general, Illinois law says that Marcus's wife receives 50% of the estate and the children split the remaining 50% equally.

Which of the one of these statements about transaction records retention in Illinois is true? All escrow and transaction records may be retained offsite or at the sponsoring broker's office. All escrow and transaction records must be retained at the sponsoring broker's office for five years. Escrow and transaction records related to active or pending transactions must be maintained at the sponsoring broker's office. Escrow records three years old and newer must be maintained at the sponsoring broker's office.

Escrow and transaction records related to active or pending transactions must be maintained at the sponsoring broker's office. In Illinois, escrow and transaction records related to active or pending transactions must be available for easy review at the sponsoring broker's office. Escrow records two years old and newer must be at the office location.

Which one of these statements about transaction records retention in Illinois is true? All escrow and transaction records may be retained offsite or at the sponsoring broker's office. All escrow and transaction records must be retained at the sponsoring broker's office for five years. Escrow and transaction records related to active or pending transactions must be maintained at the sponsoring broker's office. Escrow records three years old and newer must be maintained at the sponsoring broker's office.

Escrow and transaction records related to active or pending transactions must be maintained at the sponsoring broker's office. In Illinois, escrow and transaction records related to active or pending transactions must be available for easy review at the sponsoring broker's office. Escrow records two years old and newer must be at the office location.

As the property manager, Galena places security deposits in an interest-bearing account for her landlord, who owns 42 rental units. Galena isn't permitted to accept a lease term of under one year. Which of these statements is FALSE? Galena must deposit all security deposit funds the next business day after receipt. Galena must pay each tenant the interest earned on their deposit monthly. Galena must refund interest to the tenants at least once annually. The account into which Galena deposits these funds must pay at least as much interest as the state's largest commercial bank.

Galena must pay each tenant the interest earned on their deposit monthly. Landlords must annually disburse to tenants any interest earned on their security deposits.

Which of these licensee's actions is most likely to warrant an immediate emergency license suspension in Illinois? Crispin failed to pay his property taxes. Gene hosted an open house while intoxicated and became belligerent toward the guests. Margo accepted compensation from someone other than her broker. Nikki failed to pay her state income taxes.

Gene hosted an open house while intoxicated and became belligerent toward the guests. Illinois law aims to protect the public's interest and welfare above all else, so if that's in danger, a license may be suspended temporarily as an emergency action.

In a dual agency situation, which one of the following is something a licensee CAN'T do? Give undivided loyalty Maintain confidentiality Remain neutral Treat all parties with honesty

Give undivided loyalty In a dual agency situation, the licensee can't provide undivided loyalty to either party and must remain neutral.

Bert is a sponsored broker in Illinois who's selling his own house. Since he's acting as his own broker, which of these rules must he follow? He can sell the home on his own behalf but can't list it or place a yard sign indicating it's For Sale by Owner. He can use a For Sale by Owner sign as long as he includes the business name of his sponsoring broker on it. He can use a For Sale by Owner yard sign, but it must say "agent owned." His yard sign must indicate that his home is listed by his sponsoring broker.

He can use a For Sale by Owner yard sign, but it must say "agent owned." Licensees in Illinois are allowed to sell their own property as a For Sale by Owner but must disclose that the property is "agent owned" on the yard sign, along with disclosing their license status to all parties in the transaction.

Dylan, a sponsored broker, is sending out marketing emails to contacts he collected from open house sign-in sheets. Which of these rules must he follow in order to comply with Illinois license law? He may only send marketing emails to these contacts within three months of the date when the recipient first provided contact information, unless they subsequently become his clients. He may send only one unsolicited email to each recipient per month. He must include his name, his sponsoring broker's name, and a link to his sponsoring broker's main website on the first or last page of the email. He must include his name, the business name of his sponsoring broker, and the city and state where the principal office is located on the first or last page of the email.

He must include his name, the business name of his sponsoring broker, and the city and state where the principal office is located on the first or last page of the email. Illinois license law requires Dylan to include his name, the business name of his sponsoring broker, and the city and state where the main office is located on either the first or last page of all electronic communications.

Illinois licensee Albert is completing his designated agency disclosures to his client Patty. He's walked her through the written disclosures and must discuss with her the topics required by Illinois state law as part of those disclosures. What topics must Albert discuss? His brokerage's policy on funds handling and accounting His sponsoring broker's compensation and policy with regard to cooperating with brokers The different types of agency relationships that are available to Patty The fiduciary duties that he and his sponsoring broker will owe to Patty once the brokerage agreement is signed

His sponsoring broker's compensation and policy with regard to cooperating with brokers In addition to the written designated agency disclosure, Illinois licensees must also discuss with the client the sponsoring broker's compensation and policy with regard to cooperating with brokers who represent other parties in a transaction.

Which of these statements about an Illinois guaranteed sales plan is TRUE? A guaranteed sales plan is a licensee's guarantee that a property will sell within a specified period of time, or the seller will owe no commission to the listing broker. Illinois statute requires that licensees who offer guaranteed sales plans must market properties impacted by these plans the same way they'd market any other property. Illinois statutes prohibit licensees from offering guaranteed sales plans. Licensees may purchase a property that's subject to a guaranteed sales plan at any time during the listing agreement's term.

Illinois statute requires that licensees who offer guaranteed sales plans must market properties impacted by these plans the same way they'd market any other property. Illinois statute permits licensees to offer guaranteed sales plans. Licensees must comply with the rules set out for these plans, including marketing the property the same way the licensee would market any other property.

Mandy is a buyer who has given her agent an earnest money check for $10,000 with an offer to purchase. When will the check be deposited? After Millie receives loan approval for the purchase After the inspection is completed At least 10 days prior to closing on the sale Immediately upon receipt by her agent

Immediately upon receipt by her agent Licensees are required to turn over earnest money funds to their managing broker immediately for deposit.

When there's a dual agency agreement in place, and a licensee is working with a buyer client, which of the following questions is the licensee allowed to answer, assuming he has the information? Is the seller moving because of the recent highway expansion? Is the seller the original owner? Will the seller accept an offer that is $10,000 under the asking price? Will the seller pay closing costs?

Is the seller the original owner? Whether the seller is the original owner is not confidential information, so it's okay to answer this one.

Reich Real Estate has discovered that their licensee, Ivan, has been stealing money from clients by depositing their earnest money into his own account. What will likely be the consequence? Ivan's license could be suspended after a judicial hearing. Ivan's license could be suspended without a hearing. Ivan's license will be suspended for 30 days. Ivan's license will not be suspended.

Ivan's license could be suspended without a hearing. The Real Estate Act of 2000 states that a license may be suspended temporarily as an emergency action (without a hearing) when the public's interest or welfare, or the welfare of another licensee is at stake.

Kirsten has several clients who've used Monica, a local mortgage broker, for their mortgage loans. Monica recently had an opportunity to return the favor, and she referred a buyer client to Kirsten. Through her broker, Kirsten sent Monica a $200 gift card as a referral fee. Which of these statements best represents this transaction? Because Monica holds a mortgage broker's license, Kirsten can pay her a referral fee. Because shee through her broker, Kirsten didn't violate any laws. Kirsten and her broker violated federal (and perhaps state) laws prohibiting referral fees to third-party vendors. Kirsten should have sent the referral fee directly to Monica to avoid violating RESPA.

Kirsten and her broker violated federal (and perhaps state) laws prohibiting referral fees to third-party vendors. While Kirsten was correct in thinking that all compensation paid or received has to go through her broker, both Kirsten and broker broke the law by providing a referral fee to a mortgage broker. They violated RESPA and likely state licensing laws.

Larry created an Illinois land trust agreement naming Renken Properties, Inc., as the trustee, and himself as the beneficiary. Which of these statements is NOT true? Larry retains complete control of the property during the trust's term. Larry's interest in the property is considered real property. Renken can make decisions regarding the property as long as it's held in trust. Renken can release Larry's name as the beneficiary if questioned.

Larry's interest in the property is considered real property. As the beneficiary, Larry retains full control of the property; his identity can't be made public (except under court order). His interest is considered personal property so it's more easily sold, pledged, or assigned than if it were real property.

Which homebuyers are eligible for the USDA Rural Development Single Family Housing Guaranteed Loan Program? All income types in any county in Illinois Low- to moderate-income buyers in any county in Illinois Low- to moderate-income buyers in eligible rural counties in Illinois Veterans in eligible rural counties in Illinois

Low- to moderate-income buyers in eligible rural counties in Illinois The USDA Rural Development Single Family Housing Guaranteed Loan Program is available for low- to moderate-income buyers in eligible rural counties in Illinois.

Marco, a designated agent in Illinois, is representing two buyer clients who want to make an offer on the same property. Because this is a possible contemporaneous offer situation, what must Marco do before submitting his clients' offers to the seller for consideration? Marco must decide which client to continue to represent. Marco must disclose the contemporaneous offer situation in writing to both his clients. Marco must immediately refer both clients to other agents. Marco must notify the seller that he has two clients that are interested in making an offer.

Marco must disclose the contemporaneous offer situation in writing to both his clients. In Illinois, a designated agent must provide written disclosure of a contemporaneous offer situation to all involved clients.

Monique took her Illinois managing broker's licensing exam for the first time. Which of these statements is true? If she failed the exam, Monique must retake her pre-licensing coursework before taking the exam again. Monique can retake the exam up to four times. Monique has one year after passing her exam to apply for her broker's license. Monique has two years from the time she passes her exam to apply for licensure.

Monique has one year after passing her exam to apply for her broker's license. Applicants have two years after completing their education to sit for the exam and one year after passing the exam to apply for licensure.

Based on Illinois license law, which of these activities requires a real estate license when it's performed on someone else's behalf and for compensation? Negotiating a real estate contract Performing an Internet search for available properties Researching schools, crime rates, and other neighborhood statistics Scheduling property showings

Negotiating a real estate contract With few exceptions, listing, selling, buying, or negotiating the sale of property on another's behalf and for compensation requires a license.

Illinois licensee Will is working with seller client Jessica. Jessica is eager to get her home sold, so Will gets the details from her over the phone and lists it for her. The following week, Will meets with Jessica to sign the brokerage agreement, and he makes his required disclosures. Has Will met his disclosure requirements? No. Designated agency disclosures must be made before performing any agency activities, so Will should have made them before listing Jessica's home. No. Designated agency disclosures must be made before the licensee has any significant contact with the client, so the brokerage should have provided them to Jessica before Will had his first phone call with her. Yes. Designated agency disclosures can be made any time before closing, and he's made them with the execution of the brokerage agreement. Yes. Designated agency disclosures can be made in or along with the brokerage agreement, which he's accomplished.

No. Designated agency disclosures must be made before performing any agency activities, so Will should have made them before listing Jessica's home. Illinois designated agency disclosures must be provided to a prospective client before or upon entering into a designated agency relationship with a licensee, and before the licensee performs any agency activities.

In which of the following situations is an Illinois sponsoring broker considered a dual agent? None of these. When one of the sponsoring broker's affiliated licensees represents one transaction party, and another of their affiliated licensees represents the other party in the same transaction. When one of the sponsoring broker's affiliated licensees represents one transaction party, and refers the other transaction party to a licensee at a different firm. When one of the sponsoring broker's affiliated licensees represents two parties in the same transaction.

None of these. Dual agency only exists in Illinois when a single licensee represents both transaction parties. When a licensee is designated as agent for both parties, sponsoring brokers are not considered dual agents.

Marquis Realty moved to a larger office in a busier part of town. What's one of the first things the firm is required by Illinois licensing laws to do? Change the bank that holds their trust funds to one closer to the new office. Change the office location address for all the firm's sponsored licensees within 24 hours. Notify all the firm's past and current clients of the new location within five days. Notify the Division of Real Estate immediately.

Notify the Division of Real Estate immediately. Marquis must immediately notify the Division of Real Estate about the change in location.

A hurricane destroyed Stu's brokerage, including all of his records. In addition to immediately obtaining copies of and reconstructing the missing records, what is he required to do in this case? Do nothing. Notify all clients whose records are affected within 30 days by signature-restricted delivery. Notify the IDFPR enforcement division within 30 days by signature-restricted delivery. Wait for instructions from his insurance company.

Notify the IDFPR enforcement division within 30 days by signature-restricted delivery. If escrow records are lost, destroyed, or stolen, a managing broker must notify the IDFPR enforcement division within 30 days by signature-restricted delivery.

In Illinois, beneficiary interest in land that's part of a land trust is considered ______. Personal property Protected from creditors Real property Subject to partition

Personal property When real property is conveyed to a trust, the trust becomes the owner. The owner who transferred the interest holds a beneficial interest in the property. This interest is considered personal property, though what the interest conveyed is real property.

Nick is meeting with prospective buyer clients, Byron and Silvia Monk, for the first time. Before Nick and the Monks enter into a buyer agency relationship, what does Illinois law require Nick to do? Ask the Monks to provide two forms of identification. Have the Monks sign and date a non-disclosure form. Obtain the Monks' written consent to have Nick's broker act as their dual agent. Provide the Monks with a designated agency disclosure.

Provide the Monks with a designated agency disclosure. By law, Nick is required to disclose the designated agency relationship he'll have with the Monks should they agree to enter into the buyer agency relationship.

Based on Illinois law, which of the following is considered a ministerial act? Advising the opposing party on what to include in an offer or counter-offer Assisting the opposing party in evaluating an offer Negotiating on behalf of the opposing party Providing the opposing party with signed copies of paperwork

Providing the opposing party with signed copies of paperwork Providing copies of paperwork does not involve judgment, advocacy, or negotiation. This is a ministerial act.

Which of the following property types are covered by the Illinois Carbon Monoxide Alarm Detector Act? Commercial only Residential and commercial Residential, commercial, and industrial Residential only

Residential only The Carbon Monoxide Alarm Detector Act requires each residential building to be equipped with at least one approved and operating carbon monoxide alarm within 15 feet of every room used for sleeping purposes.

A fire has destroyed the office building and all escrow account records at Landscape Realty in Illinois. Which of the following division requirements will enable the managing broker to begin restoring operations? mploying a full-time off-site record manager Retaining back-up copies of escrow account records Storing escrow account records in an off-site secure facility Uploading digital copies of escrow account records and shredding all original records

Retaining back-up copies of escrow account records If escrow records are lost, destroyed, or stolen, a managing broker must notify the IDFPR enforcement division within 30 days by signature-restricted delivery.

Beverly holds an active New York broker's license. She's worked for a broker for several years, and her license is in good standing. Under Illinois reciprocity regulations, which of the following is correct? All she must do is submit $100 and a transfer application. She must complete all Illinois pre-licensing coursework and pass both portions of the licensing exam. She must complete only the state portion of the Illinois licensing exam. She's eligible for an Illinois broker's license.

She must complete all Illinois pre-licensing coursework and pass both portions of the licensing exam. Illinois only has reciprocity with Iowa, Kentucky, Michigan, or Wisconsin

Sierra is a managing broker, sponsored by Highland Hills Real Estate in Chicago. Which of these statements about the advertisement is true? Because she's a managing broker, she's not required to include the sponsoring broker's name. She isn't required to identify herself as a managing broker, but must include her name and her sponsoring broker's name. She must include her name, her sponsoring broker's name, and identify herself as a managing broker. She's not permitted to identify herself as a managing broker, but must include her name and her sponsoring broker's name.

She must include her name, her sponsoring broker's name, and identify herself as a managing broker. All ads must contain the licensee's and sponsoring broker's names. Sierra must also identify herself as a managing broker on all ads (except signage).

Illinois licensee Elizabeth has a buyer client who she thinks may be interested in one of the houses that Elizabeth has listed for one of her seller clients. In order to represent both of her clients in a single transaction, which of the following statements best describes what Elizabeth needs to do? She cannot represent both clients since dual agency isn't permitted in Illinois. She must have both of them sign a dual agency brokerage agreement. She must make a dual agency disclosure obtaining each client's informed consent along with their brokerage agreement. She must make disclosures at two points: an initial disclosure obtaining consent, and a second disclosure confirming consent.

She must make disclosures at two points: an initial disclosure obtaining consent, and a second disclosure confirming consent. Illinois requires two disclosures for each client regarding dual agency: a disclosure to consent to dual agency and a disclosure to confirm the initial consent.

Which of these license designations does NOT require a separate examination? Associate broker Broker Managing broker Sponsoring broker

Sponsoring broker A sponsoring broker holds a managing broker's license, so no separate examination is required.

Brokerage relationships in Illinois are created via brokerage agreements between ______. Designated agents and their clients Landlords and tenants Sellers and buyers Sponsoring brokers and potential clients

Sponsoring brokers and potential clients Brokerage relationships are created between a sponsoring broker and a consumer through a brokerage agreement. The agreement specifies the professional real estate brokerage services that will be provided for compensation.

Which of these statements about the Illinois sponsoring broker exam is true? Candidates who fail just one portion of the exam will be permitted to re-take just the failed portion. Candidates will be presented with simulation problems and essay questions on the licensing exam. Sponsoring broker candidates must pass the licensing exam with a scaled score of 75%. Sponsoring brokers don't take a separate exam.

Sponsoring brokers don't take a separate exam. There is just the managing broker's license and a regular broker's license

Which of these statements about Illinois transfer tax rates is true? Municipality transfer tax rates are often lower than those charged by counties and the state. Only the state can charge transfer taxes. State and county tax rates are often lower than the rates municipalities charge. The transfer tax rate charged by the state and various cities and counties is the same.

State and county tax rates are often lower than the rates municipalities charge. Municipality transfer tax rates should be carefully examined because their tax rates can be significantly higher than rates imposed by the state or county.

Jorge is a new Illinois broker and is required to take post-licensing coursework. Which of these statements is correct? Post-licensing coursework includes the standard 12 hours of CE coursework plus an additional 18-hour contracts course. The 20-hours of post-licensing coursework Jorge must take is in addition to the 12 hours of CE coursework he must complete before his first renewal date. The 30-hours of post-licensing coursework satisfies Jorge's CE requirements for the first renewal period. The required 45-hour brokerage administration course satisfies Jorge's CE coursework for the first renewal period.

The 30-hours of post-licensing coursework satisfies Jorge's CE requirements for the first renewal period. Jorge must complete 30-hours of post-licensing coursework during his first renewal period, which satisfies his CE requirements for that renewal period.

Citywide Development is planning a new subdivision called Leydan Rock. Each lot will be two acres, and the entire subdivision will include 32 residential lots. Which of these statements about this subdivision and the Illinois Plat Map Act is FALSE? Citywide must get the subdivision plat commissioned and certified by the clerk and recorder of the county where the subdivision is located. Citywide must have the land surveyed. The Illinois Registered Land Surveyors Association must certify the plat map. The plat map is required because the lots are under five acres each.

The Illinois Registered Land Surveyors Association is responsible for the commission and certification of subdivision plats.

Marsha and Todd have discovered that the homestead status doesn't protect them from an action that's just occurred. Which of these is the likely culprit? Marsha and Todd aren't married, and homestead status applies only to married couples. The action is based on a judgment lien. The action is related to their mortgage loan. The action occurred after they filed for homestead status.

The action is related to their mortgage loan. Any kind of lien for which the property was pledged as collateral is exempt from the protection of the homestead law.

Neal, the designated managing broker for At Your Service Brokerage Services, requires his licensees to work set hours and work from the brokerage firm's office. Which of the following statements is true? The broker can implement specific performance requirements as long as they're outlined in the PPM. The broker can make these activities a requirement if licensees are hired as employees instead of independent contractors. The broker can require independent contractor licensees to work from a specific location but can't require set work hours. The broker can't require specific performance tasks such as these for any licensed individual.

The broker can make these activities a requirement if licensees are hired as employees instead of independent contractors.

Carissa is an Illinois broker. Her managing broker, Thomas, is also the firm's sponsoring broker. The staff includes one licensed residential leasing agent, Reuben. Which of these statements about license renewals is true? Carissa's license expires on June 31 of each even-numbered year. Reuben's license expires on July 31 of each odd-numbered year. The firm's license expires on October 31 of each even-numbered year. Thomas's license expires on April 30 of each even-numbered year.

The firm's license expires on October 31 of each even-numbered year. All Illinois licenses except managing broker's licenses expire in even-numbered years; brokers renew on April 30, residential leasing agents on July 31, and firms on October 31. Managing brokers must renew on April 30 of each odd-numbered year.

Tawonda, a licensed Illinois broker, has been taken to court six times on various charges, including misrepresentation and breach of confidentiality. The court has awarded a judgment to each of the plaintiffs, but Tawonda has no money. Which of these statements about the plaintiffs' ability to receive compensation from the Illinois Real Estate Recovery Fund is true? Each of the plaintiffs can recover up to the maximum of $25,000 plus court costs and attorney's fees. The plaintiffs may only seek compensation from the fund if they can prove the exam amount of monetary damages that Tawonda caused. The recovery fund caps the lifetime amount that can be recovered against any one licensee based on a single transaction. These plaintiffs will all have to seek compensation through the civil court system.

The recovery fund caps the lifetime amount that can be recovered against any one licensee based on a single transaction. Because the recovery fund caps the lifetime dollar amount of reimbursement for any one licensee in a single transaction, some plaintiffs may not receive reimbursement from the fund (or may not receive the full amount of their losses).

As an Illinois licensee, Jared knows he must obtain written informed consent from both the buyer and the seller in order to work as a dual agent. He's done that, but now that the parties are about to agree on terms and sign the purchase contract, the seller has changed his mind about dual agency. Which of the following is a true statement? As long as the seller initially gave his consent, he must allow dual agency. Jared can no longer represent either party in the transaction. Jared can no longer represent the seller in the transaction. The seller isn't obligated to consent to dual agency at this point, even though he initially gave his written consent.

The seller isn't obligated to consent to dual agency at this point, even though he initially gave his written consent. Clients aren't obligated to allow dual agency if they haven't given confirmation of their written consent. And if one party declines it, the agent can no longer represent that party in the transaction.

Reed is representing Janet and Todd in the sale of their Illinois home. Which of these correctly identifies the parties' responsibilities under the Illinois Radon Awareness Act? anet and Todd must provide the buyer with verification that radon levels have been tested and mitigated as necessary. Reed must ensure that the sellers have the property tested for radon before listing it. The sellers must provide buyers with the required pamphlet and disclosure form before a contract is signed. The sellers must provide the required disclosure form and pamphlet any time before closing on the contract.

The sellers must provide buyers with the required pamphlet and disclosure form before a contract is signed. The Illinois Radon Awareness Act doesn't require that sellers mitigate radon levels or test for radon, but it does require that they provide a disclosure and information pamphlet.

Theo and Tessa Browning are both licensed in Illinois. They've formed a limited liability company through which they operate their real estate business. Their broker legally paid compensation for a transaction Tessa closed to Theo and Tessa's LLC. Which of these statements must be false? Only Theo and Tessa are part of the LLC. Theo and Tessa are married. Theo and Tessa work for different sponsoring brokers. Theo and Tessa work for the same sponsoring broker.

Theo and Tessa work for different sponsoring brokers. An Illinois broker can receive compensation through a business entity if the broker is the sole owner of the entity or if the broker and the broker's unlicensed spouse own the business entity, or if the broker and broker's licensed spouse own the entity and are both sponsored by the same brokerage firm.

Which of these statements about retaining transaction records in Illinois is true? All transaction records maintained electronically must be reduced to hard copy at least monthly and kept on premises for 60 days. Electronic backups of transaction records must be maintained on site for 60 days. Only electronic escrow records must be backed up monthly. Transaction records maintained electronically must be backed up at least monthly.

Transaction records maintained electronically must be backed up at least monthly. Electronic transaction records must be backed up at least monthly.

As an Illinois managing broker, Derek knows better than to answer some questions from his buyer clients when there's a dual agency relationship in place. He's representing Tina, a buyer, and Joe Sanchez, the seller, in a dual agency relationship. Today, he's meeting with Tina. Which of the following questions is Derek NOT allowed to answer, given the dual agency relationship? Does the HOA plow the driveway after it snows? Was the kitchen part of the addition? What were the property taxes for last year? Will the seller include the washer and dryer?

Will the seller include the washer and dryer? Illinois licensees working as dual agents are allowed to answer questions related to specific property information that isn't confidential, but they aren't allowed to negotiate for either the buyer or the seller.

When must licensees in Illinois notify the Division of Real Estate of a change to their office location? Within 15 days Within 24 hours Within 30 days Within seven days

Within 24 hours

When must licensees in Illinois notify the Division of Real Estate of a name change? Within 15 days Within 24 hours Within 30 days Within seven days

Within 24 hours Licensees in Illinois must immediately (within 24 hours) notify the division of change to name, office location, or address.

Analise received earnest money from her clients after executing a contract between all parties. When must her managing broker deposit the earnest money? By the close of business of the second day following receipt Within five business days Within one business day after the contract is signed or per the contract terms Within one week

Within one business day after the contract is signed or per the contract terms The managing broker must deposit earnest money in an escrow account within one business day after the contract is signed or per the contract terms.

Jade represented Jess when she sold her home five years ago. Now Jess is making an offer on a new home and Jade is representing the seller. Does Jade owe Jess the duty of confidentiality? No. Jade owes the duty of confidentiality only to her seller clients now. No. Jess is an unrepresented consumer in this transaction. Yes, because Jessi s still Jade's client. Yes, the duty of confidentiality survives the termination of your brokerage agreement.

Yes, the duty of confidentiality survives the termination of your brokerage agreement. Jade may not represent Jess now, but because she was her client, Jade still owes her the duty of confidentiality and must keep the information she obtained while representing her confidential.

Carlene sold her Illinois house to Todd for $492,500. She lives in a city that charges a $.10 transfer tax. How much transfer tax will be owed on this transaction? 344.75 $591.00 $837.25 $98.50

$837.25 The State of Illinois charges a $.50 transfer tax; each county charges $.25. With Carlene's city tax of $.10, the total transfer tax rate is $.85 per $500 of value. Divide the sales price by $500, then multiply by .85, for total transfer tax of $837.25.

Which of the following is a violation of the Illinois Real Estate License Act? A licensee acts as a dual agent in a residential sales transaction in which both the buyer and seller have consented in writing to dual agency. A licensee attempts to convince a party to break a sales contract in order to create a new one. A licensee discusses the advantages of entering into an exclusive brokerage agreement with a consumer. A licensee terminates a brokerage agreement with a client who refused to consent to dual agency.

A licensee attempts to convince a party to break a sales contract in order to create a new one. Any attempt to persuade or convince any party to a brokerage agreement, lease, or sales contract to break that agreement, lease, or contract in order to create a new one is a clear violation of the Real Estate License Act.

Karstan is engaged as a property manager for 3-D Housing, the owner of a residential apartment complex with 43 units. What is the minimum standard for the type of license Karstan must hold? A broker's license A commercial leasing agent license A managing broker's license A residential leasing agent license

A residential leasing agent license The Illinois residential leasing agent license doesn't place restrictions on the number of units a leasing agent can manage.

Like Illinois brokers, managing brokers must complete four hours of core courses and eight hours of electives each renewal period. What is the other CE requirement for managing brokers? A) 12 additional hours of broker management B) 12 additional hours of supervisory skills C) Eight additional hours of fair housing and agency law D) Six additional hours of legal issues

A) 12 additional hours of broker management In addition to the CE requirements for brokers, managing brokers must complete 12 additional hours of broker management coursework.

Developer Constance Roberts subdivided a parcel of land into 25 five-acre lots and properly recorded the subdivision. Before she could build on the lots, she became ill and sold the entire subdivision to another developer, Accolade Homes, which plans to further subdivide into lots half the original size. Which of these statements is true? A) Accolade Homes can further divide the property without a new land survey and or subdivision plat if no new streets or access points will be required. B) Accolade Homes must develop the subdivision according to the previous subdivision plat. C) Because building hadn't begun at the time of the sale, Accolade Homes must complete a new subdivision process. D) The Illinois Plat Map Act requires Accolade Homes to add new streets and access points if they further subdivide the property.

A) Accolade Homes can further divide the property without a new land survey and or subdivision plat if no new streets or access points will be required. As long as Accolade's plans don't include addition of new streets or access points, it can further subdivide the parcel without a new survey or certification by the Illinois Registered Land Surveyors Association.

Although she doesn't have a real estate license, Chayenne's friends have offered her $1,000 if she helps them find their dream home. According to Illinois license law, which of these tasks is Chayenne legally allowed to do to help them? A) Chayenne can't do any of these things legally because her friends are compensating her. B) Negotiate repairs the seller will make to the property based on the home inspection findings. C) Negotiate the sales terms, but only if they buy a vacant parcel of land. D) Purchase a home on their behalf, but only if it's at an auction.

A) Chayenne can't do any of these things legally because her friends are compensating her. The key here is that Chayenne's friends will be compensating her. Since she's performing real estate activities on someone else's behalf, and for compensation, Chayenne must be licensed.

Grant owns a parking structure in Chicago. One of his renters, Millie, hasn't paid rent in three months. What are Grant's options? A) He can just lock Millie out. B) He is required to give 72 hours' notice before evicting. C) He must send an eviction letter to Millie by registered mail. D) He will have to take Millie to small claims court.

A) He can just lock Millie out. There are many benefits to owning a parking structure. One big one is that almost every transaction is simpler than owning a home. Keep this in mind when choosing a property to rent out.

Which of these statements about the Illinois Timeshare Lien and Security Interest Act is true? A) This act permits timeshare managers to place liens against timeshare interests for unpaid assessments. B) This act permits vendors to place mechanic's liens against individual timeshare owners. C) This act prohibits mortgage lenders or timeshare managers from foreclosing on timeshare interests. D) This act protects timeshare owners from the placement of liens on their timeshare interests.

A) This act permits timeshare managers to place liens against timeshare interests for unpaid assessments. The Timeshare Lien and Security Interest Act makes it easier for timeshare managers to assess liens against timeshare ownership interests when there are unpaid fees, etc.

Which of these statements regarding real estate license exemption in Illinois is FALSE? An employee of a property owner may sell the owner's property without a license. Attorneys may deal with real property under a power of attorney or Attorneys may supervise licensed brokers. Property owners can sell their own property without a license.

Attorneys may supervise licensed brokers. Attorneys may not supervise real estate licensees unless they're also licensed.

Moe just finished his pre-licensing education and is ready to take his Illinois broker's licensing exam. He tells you he's excited because now the only training he has to take is the 12-hour CE requirement each renewal period. What do you say to Moe? A) "Congratulations, Moe! You're right on target!" B) "Moe, remember that you have a 45-hour post-licensing course to complete during your first renewal period." C) "Not to burst your bubble, Moe, but you have to finish the 45-hour broker administration course during your first renewal period." D) "That's not quite right, Moe. You'll need to take 12 hours of CE credit each year."

B) "Moe, remember that you have a 45-hour post-licensing course to complete during your first renewal period." Moe must complete the Illinois 45-hour post licensing course during his first renewal period.

Jasmin is a designated agent for Illinois seller Marion who tells Jasmin in confidence that due to some outstanding debts, she needs to sell as soon as possible. Which of the following actions is Jasmin allowed to take? A) Jasmin can ask her coworker Jim about what course of action to take to best serve Marion, even though the information Marion shared was confidential. B) Jasmin can ask her sponsoring broker about what course of action to take to best serve Marion, even though the information Marion shared was confidential. C) Jasmin can contact her existing buyer clients and make them aware of Marion's motivation to sell, which is acting in everyone's best interests. D) Other than continuing her marketing efforts, there isn't much that Jasmin can do since asking anyone for advice would be a violation of her duty of confidentiality.

B) Jasmin can ask her sponsoring broker about what course of action to take to best serve Marion, even though the information Marion shared was confidential. In Illinois, designated agents are allowed to disclose confidential client information to their sponsoring broker or persons specified by the sponsoring broker if they're seeking advice or assistance that will ultimately benefit the client.

Select the statement about Illinois transfer taxes that is FALSE. A) Illinois charges a transfer tax on the conveyance of all real property. B) Municipalities and other entities are prohibited from charging additional transfer taxes. C) Property transferred from the City of Chicago to a private party is exempt. D) Transfer taxes for the state and various municipalities are calculated per every $500 or part thereof.

B) Municipalities and other entities are prohibited from charging additional transfer taxes. Many municipalities and other entities charge their own transfer taxes in addition to the state tax.

Escrow account records can be lost, destroyed by fire or water damage, or stolen. These are all reasons a managing broker is required to do what? A) Do nothing. B) Retain back-up copies of escrow account records. C) Shred hard copies of all escrow account records. D) Store all escrow account records in an off-site secure facility.

B) Retain back-up copies of escrow account records. Managing brokers are required to keep back-ups of escrow records.

Sophia is an unlicensed assistant for Blanche, a broker at Golden Girls Realty. Dorothy is the sponsoring broker. Who's ultimately legally responsible for Sophia's activities? Blanche and Dorothy are ultimately responsible for Sophia's behavior as an unlicensed assistant. Blanche is solely responsible for the activities of her unlicensed assistant. Golden Girls Realty is ultimately responsible for Sophia's behavior as an unlicensed assistant. Sophia is solely responsible for her own behavior as an unlicensed assistant.

Blanche and Dorothy are ultimately responsible for Sophia's behavior as an unlicensed assistant.

In what circumstance do you have the authority to host an open house for another company's listing for compensation? Both brokerage firms consulted their attorneys and insurers and entered into a written agreement The listing agent authorized you to cooperate with her brokerage firm The listing brokerage has authorization from the seller. Under no circumstances do you have the authority to host an open house for another company's listing for compensation

Both brokerage firms consulted their attorneys and insurers and entered into a written agreement In Illinois, the only permissible way to host an open house for another company's listing for compensation is if both brokerage owners consulted their attorneys and insurers and entered into a written agreement.

Which of the following best describes how designated agency impacts dual agency in Illinois? A sponsoring broker is only considered a dual agent after designating one affiliated licensee to represent the seller in a transaction, and another affiliated licensee to represent the buyer in the same transaction. Brokerage firms have the option of selecting licensees to act as designated agents or dual agents for new clients at the sponsoring broker's discretion. Brokerage firms immediately designate licensees as agents, relieving sponsoring brokers of agency duties. When a licensee is designated as agent for both the buyer and seller in one transaction, the agent, not the sponsoring broker, is the dual agent. Designated agency and dual agency are separate agency types which do not impact one another.

Brokerage firms immediately designate licensees as agents, relieving sponsoring brokers of agency duties. When a licensee is designated as agent for both the buyer and seller in one transaction, the agent, not the sponsoring broker, is the dual agent. It is because of Illinois's take on designated agency that dual agency only exists when a single agent is designated to represent both transaction parties. The sponsoring broker is never considered a dual agent.

Roger, an Illinois broker working for Metro Homes, lists a property for seller clients Trina and Samuel. Roger's sponsoring broker is Ted Britton and his managing broker is Sonjay Treva. Which of these statements about the relationship is true? A) Roger's managing broker will designate him as Trina and Samuel's agent. B) The listing agreement is between Sanjay, Trina, and Samuel. C) The listing agreement is between Trina, Samuel, and Metros Homes. D) The listing agreement is between Trina, Samuel, and Roger.

C) The listing agreement is between Trina, Samuel, and Metros Homes. Buyer or seller agency agreements are agreements between the clients and the sponsoring broker, not the listing or selling broker.

Renee, an Illinois licensee, applies to the Illinois Real Estate Recovery Fund to seek damages for a judgment the courts awarded her for another licensee's slander. What's the maximum amount she can recover? $0 $25,000 $50,000 $75,000

$0 The Illinois Real Estate Recovery Fund may help consumers recover damages as a result of a judgment based on a real estate transaction; Renee's claim and judgment aren't covered.

A landlord who rents five or more units in one building should provide a written cost of repairs within ___ days of the tenant vacating. 15 25 30 45

30 If the building or complex comprises five or more units, the landlord should provide the tenant with a written statement noting the property damage that must be repaired and an estimate of the repair costs within 30 days of a tenant vacating.

How long does an aggrieved person have to file written notice of a judgment to the Illinois Division of Real Estate in order to recover damages from the Real Estate Recovery Fund? 10 days 15 days 30 days 45 days

30 days Aggrieved parties must file a written notice with the Illinois Division of Real Estate within 30 days of a judgment decision if they want to collect damages from the Real Estate Recovery Fund.

Maggie is showing Glenn's property to her buyer client, Marites. Glenn is not working with a listing agent and is selling the property himself. What should Maggie present to Glenn? A Buyer Representation Agreement A Notice of No Agency Relationship A Seller Representation Agreement Nothing. Maggie only represents Marites.

A Notice of No Agency Relationship Maggie must present a Notice of No Agency Relationship to Glenn so Glenn is fully aware that Maggie owes fiduciary duties to Marites and not him.

Which of these describes a "blind ad" according to Illinois license law definition? An ad for a listing that doesn't include any photos An ad for a listing that doesn't include the managing broker's name A real estate ad that doesn't include the sponsoring broker's business name

A real estate ad that doesn't include the sponsoring broker's business name

Tech Center Realty's filing cabinets are overflowing. Based on Illinois laws, which of these transaction files can they move to an off-site storage location? A) Employment agreements for brokers who are no longer with the firm. B) Illinois brokers aren't permitted to store records off site. C) The previous month's hard copy of the electronic escrow records. D) The transaction file for client's whose earnest money is under dispute.

A) Employment agreements for brokers who are no longer with the firm. Illinois brokerage firms can move employment agreements to off-site storage after two years if the broker is no longer with the firm.

When filing for funds from the Illinois Real Estate Recovery Fund, complainants must provide court documents, relevant transaction documents, and ______. A copy of the license of the broker who engaged in the violation A list of the names and contact information of all parties involved in the transaction An itemized statement of alleged losses The routing number for the bank account where the complainant would like the funds deposited

An itemized statement of alleged losses If no itemized statement is available, the claimant must state under oath that losses are estimated and the calculation is as accurate as circumstances permit.

Kelsey is a Georgia licensee. She's moving to Illinois. What must she do to get her Illinois broker's license? Apply for reciprocal licensing and take the state portion of the Illinois licensing exam. Apply for reciprocal licensure and complete the national portion of the Illinois licensing exam. Provide proof of three years of broker activity within the past five years. Take the prelicensing coursework and pass the Illinois broker's license exam.

Apply for reciprocal licensing and take the state portion of the Illinois licensing exam. A broker's reciprocal license requires application to the state and successful completion of the state licensing exam. If applying from a reciprocal state (Iowa, Michigan, Wisconsin, Kentucky) all they need to do is take the pre-license coursework and pass the state exam. They do not need to complete a reciprocal application.

Carlisle is an unlicensed assistant for Barbara, a broker at Full House Realty. Mario is the sponsoring broker. Who's legally responsible for Carlisle's activities? Barbara and Mario, as broker and sponsoring broker Barbara, as the broker Carlisle, as the unlicensed assistant Mario, as sponsoring broker

Barbara and Mario, as broker and sponsoring broker Barbara is responsible for all Carlisle's activities. As sponsoring broker, Mario is responsible for supervising all brokers and employees, including both Carlisle and Barbara.

Illinois licensee Alma is one busy woman: In addition to her regular broker duties, she also mentors three other licensees. The company owner has approached her about managing two additional office locations, but she'd need to take more coursework to be qualified to do that. What kind of broker is she? Associate broker Broker Managing broker Sponsoring broker

Broker Alma is a broker. She'd need to take additional coursework and become a designated managing broker to manage a brokerage office.

Tyson performs brokerage services for clients. He is prohibited from operating a firm on his own unless he completes additional coursework. What type of licensee is Tyson? Broker Managing broker Residential leasing agent Sponsoring broker

Broker Tyson is a broker. Like a managing broker, he performs brokerage services for clients, but he can't operate his own firm unless he completes the managing broker's coursework.

BJ and Kelly are both licensees at Premium Realty in Illinois. BJ represents the seller, and Kelly represents the buyer in the same transaction. Which of the following statements is true for this transaction? A) BJ and Kelly are both designated agents and dual agents. B) BJ and Kelly are both designated agents, and their sponsoring broker is a dual agent. C) BJ and Kelly are both designated agents; no dual agency exists. D) BJ is a designated agent, and Kelly is a dual agent.

C) BJ and Kelly are both designated agents; no dual agency exists. Designated agency is the default agency in Illinois, where a single licensee is designated to represent a single client. Dual agency only occurs when a single licensee represents both transaction parties.

A lender was not able to recover all of the losses incurred during the foreclosure process in Illinois. What could it pursue to recoup these losses? Deed in lieu of foreclosure Deficiency judgment Non-judicial foreclosure Short sale

Deficiency judgment The function of deficiency judgments is to recover losses incurred by the lender in the foreclosure process.

In Illinois, which of the following is an unauthorized practice of law? Explaining a clause in a contract to a client Interpreting the legal consequences of a client's actions Using existing forms an attorney has reviewed Using standard language for addenda

Interpreting the legal consequences of a client's actions Interpreting legal consequences should be left to someone who practices law (an attorney). If a licensee does this, it's an unauthorized practice of law.

An Illinois licensee may not use advertising or marketing that ______. Includes the sponsoring broker's name Is deceptive or misleading Is published outside the state of Illinois Uses "puffery"

Is deceptive or misleading The Real Estate License Act of 2000 prohibits any advertising that is fraudulent, deceptive, or inherently misleading.

Which type of legal description is this: "Plat of Block 28, Chicago Uptown Heights Tract, recorded in Map Book 27, page 68, at the Cook County Records Office"? Benchmark Lot and block Metes and bounds Rectangular government survey

Lot and block This is an example of a lot and block legal description, which is also called a plat reference system.

Jessica is a first-time homebuyer in Illinois. Where can she get financial assistance to help her with the down payment for her home? The Illinois Affordable Housing Tax Credit Act The Illinois Down Payment Assistance Fund The Illinois Housing and Rental Assistance Association The Illinois Housing Development Authority

The Illinois Housing Development Authority The Illinois Housing Development Authority (IHDA) provides various homeownership and rental assistance programs.

Steve, a new real estate broker, has an exclusive listing agreement with seller John Andre. However, when broker Benedict finds out about the agreement, he offers better terms to Mr. Andre, who then terminates the listing with Steve. What kind of contract breach is this? Material Breach Minor breach Tortious interference Unintentional tort

Tortious interference Tortious interference occurs when a person intentionally damages another's contractual relationship with another party.

How long is the Illinois real estate broker's license term? Five years One year Three years Two years

Two years The license term for a real estate broker is two years., odd comes around every two years, and even comes around every two years

During an escrow money dispute in which no civil action has been filed, sponsoring brokers in Illinois retain the funds ______. And use them to pay the agents' commissions In an interest-bearing account Until they are directed by the courts to release them Until they receive written release and disbursement directions, signed by both parties or their agents

Until they receive written release and disbursement directions, signed by both parties or their agents Sponsoring brokers retain the funds until they receive written release and disbursement directions, which must be signed by both parties or their agents. Funds are disbursed accordingly no later than the next business day.

Which of these accurately describes the Illinois Veteran's with Disabilities Exemption for Specially-Adapted Housing? Qualified veterans may deduct up to $100,000 of property taxes on their state income tax return. Up to $100,000 of the assessed property value for veterans with disabilities may be exempt. Up to $2,500 in property taxes may be exempt for qualifying veterans.

Up to $100,000 of the assessed property value for veterans with disabilities may be exempt. This exemption allows qualifying veterans to deduct up to $100,000 of their property's assessed valuation under certain circumstances.

Adam works for a rental finding service. He's working with a landlord, Trendmaker Apartments. He just located a tenant for one of the apartments, and the tenant has signed a lease. Which of these statements is true? Adam is required to include the contract term, fee to be paid, unit type and location, and other information in the landlord's representation agreement. Adam is responsible for ensuring that the lease agreement is accurate. Illinois law prohibits licensees from have a dual agency relationship with a tenant and landlord. Upon entering into a lease contract, the tenant must be provided with specific information regarding the unit and the owner.

Upon entering into a lease contract, the tenant must be provided with specific information regarding the unit and the owner. Individuals who work for a rental finding service don't do so in a licensed capacity. They therefore don't represent either party, but work to bring the parties together. Tenants must be provided with specific information regarding the unit and the owner.

How is transfer tax collected in Illinois? Through a lender lis pendens Through a lien on the home Through an escrow holdback Via deeds and other instruments relating to or affecting the title

Via deeds and other instruments relating to or affecting the title Transfer tax is collected via tax stamps purchased and affixed to deeds and other instruments relating to or affecting the title and recorded as evidence of payment.

Mike is a managing broker in Illinois planning on implementing a dual agency policy for his brokerage. He's updating his policies and procedures manual, which will read, "In order to engage in dual agency, you must have written informed consent from both the buyer and the seller, which you must obtain ______." At any time, as long as there is an agency agreement in place with each party Once the purchase contract has been accepted and signed Prior to entering into the purchase contract for the transaction When entering into a listing/buyer agreement with the client

When entering into a listing/buyer agreement with the client Informed consent must be obtained at the time a listing/buyer agreement is signed, to provide the client an opportunity to make an informed choice whether or not to accept dual agency. And clients can revoke their permission at any time.

A branch of Elite Realty in Illinois is changing managing brokers. When must the Division of Real Estate be notified? Immediately Within 15 days Within 30 days Within seven days

Within 15 days If there are changes to managing brokers, an office or a branch office, sponsoring broker should notify the division in writing within 15 days.

Annette recently moved out of the apartment she'd been in for two years. She was careful to leave everything in good repair and clean when she left, but the landlord retained most of her security deposit anyway. He also refused to respond to her demands to return it. Does Kennedy have any options left? No. Illinois law doesn't control how landlords handle security deposits, and the deposit may be retained at the landlord's discretion. No. Since Annette lived in the unit for more than one year, she's not entitled to the return of any part of her security deposit. Yes. She can file a complaint with the Illinois Real Estate Commission. Her landlord may be required to return the full amount of her security deposit. Yes. She can file suit in small claims court.

Yes. She can file suit in small claims court. Landlords may only retain a security deposit for certain reasons, such as damage or unpaid rent. If it's illegally retained, the tenant can file suit in small claims court for amounts up to $10,000.