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Exam Review

Key Facts: IL Real Estate Exam

4 hrs

Total Testing Time

PSI (150 min national + 90 min state)

140 Q

Exam Questions

PSI (100 national + 40 state)

75 hrs

Pre-License Education

IDFPR/PSI

70% / 75%

Passing Score (national / state)

PSI

$58

Exam Fee

PSI

10%/25%

Cook County Assessment

Residential/Commercial

Illinois calls all licensees 'brokers' (no salesperson license). Broker candidates need 75 hours of pre-license education, then pass PSI's 100-question national portion (150 minutes, 70%) and 40-question state portion (90 minutes, 75%). Illinois practice features attorney review of contracts, designated agency, Cook County's assessment classifications and Chicago's $5.25 per $500 transfer tax ($3.75 buyer, $1.50 seller).

Sample IL Real Estate Practice Questions

Try these sample questions to review concepts for the IL Real Estate exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 301+ question experience with AI tutoring.

1Which Illinois state agency is responsible for issuing and regulating real estate licenses?
A.Illinois Real Estate Commission
B.Illinois Department of Financial and Professional Regulation (IDFPR)
C.Illinois Department of Commerce and Economic Opportunity
D.Illinois Secretary of State
Explanation: The Illinois Department of Financial and Professional Regulation (IDFPR) is the state agency that issues, renews, and regulates real estate licenses in Illinois. There is no standalone Illinois Real Estate Commission. The Department of Commerce and Economic Opportunity and the Secretary of State handle other state functions unrelated to real estate licensing.
2Under the Illinois Real Estate License Act of 2000 (225 ILCS 454), what is the entry-level license called for someone who wants to sell real estate?
A.Salesperson license
B.Broker license
C.Associate broker license
D.Real estate agent license
Explanation: Illinois eliminated the 'salesperson' designation and calls its entry-level real estate license a 'broker' license under the Real Estate License Act of 2000. Unlike most other states that use the term salesperson, Illinois uses broker as the starting license category. There is no associate broker or real estate agent license classification in Illinois.
3How many hours of pre-license education does Illinois require to obtain a broker license?
A.45 hours
B.75 hours
C.90 hours
D.120 hours
Explanation: Illinois requires 75 hours of approved pre-license education to qualify for a broker license (60 hours of real estate topics plus a 15-hour Applied Real Estate Principles course). 45 hours is the managing broker pre-license course, 90 hours is not the Illinois broker requirement, and 120 is not a recognized figure for Illinois licensing.
4What is the format of the Illinois real estate broker licensing exam administered by PSI?
A.140 questions total (100 national + 40 state), scored separately, passing 70% national and 75% state
B.120 questions, one combined section, 75% passing score
C.100 questions, one combined section, 70% passing score
D.80 questions, one combined section, 80% passing score
Explanation: The Illinois broker exam has 140 scored questions: a 100-question national portion (70% to pass) and a 40-question Illinois state portion (75% to pass). The two portions are scored separately, and a candidate must pass both. The other choices misstate the question count, structure, or passing scores.
5Within the first renewal period, how many hours of post-license education must a new Illinois broker complete?
A.12 hours
B.24 hours
C.30 hours
D.45 hours
Explanation: A newly licensed Illinois broker must complete 45 hours of post-license education (three 15-hour courses) before the first license renewal. This replaces the standard continuing education for that first cycle. The standard CE requirement for subsequent renewals is 12 hours, not 24 or 30.
6How often must an Illinois real estate broker renew their license, and how many continuing education hours are required?
A.Every year, 12 hours including core curriculum
B.Every 2 years, 12 hours (6 core and 6 elective)
C.Every 2 years, 30 hours including core curriculum
D.Every 4 years, 48 hours including core curriculum
Explanation: Illinois brokers renew every 2 years (by April 30 of even-numbered years) and must complete 12 hours of continuing education, consisting of a 6-hour core curriculum plus 6 hours of electives designated by IDFPR. Annual renewal is not used in Illinois, 30 hours is not the CE figure, and there is no 4-year cycle.
7To become a managing broker in Illinois, a broker must have held an active license for at least how many years and complete what additional education?
A.1 year of experience and 30-hour managing broker course
B.2 years of experience and 45-hour managing broker course
C.3 years of experience and 60-hour managing broker course
D.5 years of experience and 90-hour managing broker course
Explanation: Illinois requires a managing broker to have at least 2 years of active licensure as a broker and to complete a 45-hour managing broker course approved by IDFPR. The managing broker is responsible for supervising all licensees within the office. The other combinations of experience years and course hours do not match the statutory requirements under the Illinois Real Estate License Act.
8What are the three license categories under the Illinois Real Estate License Act of 2000?
A.Salesperson, broker, and managing broker
B.Broker, managing broker, and leasing agent
C.Associate, broker, and supervising broker
D.Trainee, salesperson, and broker
Explanation: Illinois recognizes three license categories: broker, managing broker, and leasing agent. Unlike most states, Illinois does not use the salesperson designation; the entry-level license is called broker. The leasing agent license has a limited scope focused on residential leasing. Salesperson, associate, trainee, and supervising broker are not license categories recognized under Illinois law.
9How many hours of pre-license education are required for an Illinois residential leasing agent license?
A.10 hours
B.15 hours
C.20 hours
D.30 hours
Explanation: An Illinois residential leasing agent license requires 15 hours of approved pre-license education. The leasing agent license has a limited scope and only allows the licensee to assist with residential leasing activities, not sales. It is a popular option for apartment leasing professionals. The other hour amounts do not match the IDFPR requirement for leasing agents.
10Under Illinois law, which broker is responsible for maintaining trust accounts and supervising all licensees in an office?
A.Any licensed broker in the office
B.The sponsoring broker only
C.The managing broker
D.The office administrator
Explanation: The managing broker in Illinois is responsible for maintaining trust accounts and supervising all licensees affiliated with the office. This includes overseeing escrow deposits, ensuring compliance with the License Act, and approving advertising. A regular broker cannot perform these supervisory duties, the sponsoring broker is the entity/company, and an office administrator is not a licensed role with such authority.

About the IL Real Estate Exam

The Illinois real estate broker exam covers IDFPR licensing (IL uses 'broker' instead of 'salesperson'), the Real Estate License Act of 2000, attorney review closings, designated agency, Cook County assessment classifications, transfer taxes, and the Illinois Human Rights Act.

Exam sponsor: IDFPR / PSI. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Questions

140 questions

Time Limit

4 hours

Passing Score

70% national, 75% state

Exam / Certification Fees

$58

Exam sponsor website

Reported exam pass rate: Not published. IDFPR and PSI publish no pass rate; IL calls all licensees 'brokers' — no 'salesperson' license Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

100 items

National Portion (Real Estate Principles and Practices)

Property ownership, land use controls, valuation, financing, contracts, agency, property disclosures, property management, transfer of title, practice of real estate and calculations; 150 minutes, 70% to pass

4 items (10%)

Licensing Requirements

Activities requiring a license, exemptions, license types (broker, managing broker, residential leasing agent), eligibility and sponsorship, renewal and education

16 items (40%)

Illinois Real Estate License Act

Agency relationships, advertising, sponsorship, brokerage agreements, compensation, teams, handling of monies and documents, discipline, CMA/BPO rules

10 items (25%)

Additional Illinois Laws and Regulations

Ownership interests, transfer taxes, transfer of title, Plat Act, real estate taxes and exemptions, Illinois Human Rights Act, Landlord Tenant Act, Radon Resistant Construction Act

10 items (25%)

Disclosures

Designated and dual agency, notice of no agency, licensee interest, compensation sources, Residential Real Property Disclosure Act, radon, lead, mine subsidence, flooding

Preparing for the IL Real Estate Exam

What You Need to Know

  • Passing score: 70% national, 75% state
  • Exam length: 140 questions
  • Time limit: 4 hours
  • Exam / certification fees: $58 Official sources

Using Our Practice Resources

  • Work through all 301 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

IL Real Estate: Suggested Study Strategy

1Know the difference: broker (standard licensee) vs managing broker (supervises office)
2Master Cook County assessment: 10% residential, 25% commercial + equalization factor
3Understand attorney review period: 5 business days, attorneys can modify/disapprove
4Learn Chicago transfer tax ($5.25/$500: $3.75 buyer + $1.50 seller) vs state ($0.50/$500) vs county ($0.25/$500)
5Study land trusts — unique to IL, trustee holds title, beneficiary controls property

Frequently Asked Questions

Why does Illinois use 'broker' instead of 'salesperson'?

Illinois eliminated the salesperson license category in 2011 under the Real Estate License Act of 2000 (as amended). All licensees are now called 'brokers.' A 'managing broker' is the equivalent of what other states call a 'designated broker' — they supervise other brokers in the office.

How hard is the Illinois real estate exam?

PSI and IDFPR do not publish a pass rate. The broker exam has 140 questions: 100 national in 150 minutes (70% to pass) and 40 Illinois questions in 90 minutes (75% to pass). The state portion covers licensing, the Real Estate License Act of 2000, other Illinois laws such as property tax and the Illinois Human Rights Act, and disclosures.

What is the attorney review period in Illinois?

Illinois customarily uses a 5 business day attorney review period after contract execution. During this time, either party's attorney can modify or disapprove the contract. This is not statutory but is included in standard multi-board contract forms.

How do Cook County property taxes work?

Cook County uses a classification system: residential property is assessed at 10% of market value, commercial at 25%. An equalization factor (multiplier) adjusts for assessment level differences. For 2023 and later, the general homestead exemption is up to $10,000 in Cook County, $8,000 in counties next to Cook and $6,000 elsewhere in Illinois.