What questions are on the Illinois real estate exam?

The broker exam consists of 100 multiple-choice questions for the national portion and 40 multiple-choice questions for the state-specific portion. The managing broker exam consists of 10 simulation problems for the national portion and 40 multiple-choice questions for the state-specific portion.

How many questions is the Illinois real estate exam?

150
The Illinois Real Estate Exam contains 150 multiple-choice questions. 105 of these questions are national questions and 45 are state questions. You’ll have 3 ½ hours to complete the test, and a score of 75% is required to pass (results are provided immediately upon completion).

How many times can you take the Illinois real estate exam?

If you do not pass the licensing exam after completing your courses, you may retake the exam up to three times (on different days). If you do not pass the exam on the fourth attempt, you must retake the pre-license coursework before registering again for the exam.

What do you do after you pass the real estate exam in Illinois?

After passing the state exam you will need to become sponsored by a real estate managing broker within one year. Your managing broker will send the paperwork to the state (IDFPR) and issue you a 45-day permit—also called a Sponsor Card. That permit allows you to start practicing real estate immediately.

How many times can you retake the Illinois real estate exam?

How does it affect my taking the real estate exam in Illinois?

Many years ago, I had a real estate license in another state. How will it affect my taking the real estate exam in Illinois? Before being issued an Illinois license, you will be required to have the other state send a document to Illinois stating your license was in good standing when you quit the license in that state.

How many questions are on the real estate license test?

Generally, you can expect that your state real estate agent license exam will consist of 80-100 multiple-choice questions about general real estate concepts and 60-80 questions specific to state licensing laws.

How to start a real estate transaction in Illinois?

Order the Appraisal (Buyer). Determines the value of the property and maximum amount lender will provide for financing. Obtain Loan Approval (Buyer). If a loan is needed for the purchase of the property, the buyer must obtain loan approval. This is an involved, information intensive process. Purchase Homeowner’s Insurance (Buyer).

What do you need to know about buying a house in Illinois?

Lenders require homeowner insurance as a condition of the loan. Complete Repairs (Seller). Any repairs agreed upon must be completed. Finalize All Contingencies. Any other contingencies must be met. Order Title Commitment (Seller). The title commitment is not title insurance.