Practice Quiz

Illinois Real Estate Exam - Question List

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16.

When selling under a power of sale in a trust deed, the trustee must wait three months after recording the Notice of Default before:

  1. Taking possession
  2. Foreclosure is final
  3. Transferring title to beneficiary
  4. Publishing notice of sale
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17.

The owner of an undivided interest in land with no right of survivorship owns the land as:

  1. A joint tenant
  2. In severalty
  3. Absolute ownership
  4. A tenant-in-common
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18. When the Environmental Review Board or the Department of Real Estate issues a “negative declaration”, it means that the subdivision:
  1. Has not been approved by the Real Estate Commissioner for the issuance of a public report
  2. Public report contains notations of possible adverse environmental impacts
  3. Will have a significant effect upon the environment
  4. Has been approved, from an environmental aspect
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19. A right-of-way which gives persons other than the owner access to or over a property is known as an:
  1. easement
  2. ingress
  3. egress
  4. none of the above
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20. An insurance policy which combines personal liability insurance and hazard insurance coverage for a dwelling and its contents is called:
  1. homeowner’s insurance
  2. buyer’s insurance
  3. errors and omissions insurance
  4. all of the above
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