Illinois Specific Definitions

Question 1

Any person, including a licensed instructor, who has a written agreement with a licensed education provider to administer, in person or electronically, examinations fairly and impartially with a licensed education provider

Answer 1

Proctor

Question 2

The period 180 days prior to the expiration date of an initial broker license.

Answer 2

Renewal period

Question 3

For all licenses with the exception of the initial broker license, the period 90 days prior to the expiration date of the license

Answer 3

renewal period

Question 4

The renewal period for an initial broker license is ___ days prior to the expiration date.

Answer 4

180

Question 5

The renewal period for all licenses EXCEPT the initial broker license is ___ days prior to the expiration date

Answer 5

90

Question 6

The Secretary of the Department of Financial and Professional Regulation

Answer 6

Secreatary

Question 7

A licensed managing broker who operates a real estate brokerage as a sole proprietorship

Answer 7

Self-sponsor

Question 8

A person who has a 100% beneficial ownership interest in real estate

Answer 8

Sole Owner

Question 9

SOS is an abbreviation for…

Answer 9

IL Secretary of State

Question 10

A person who operates a corporation, LLC, partnership, limited partnership, or limited liability partnership that is licensed by the Department, or an individual with a managing broker license who operates as a sole proprietor

Answer 10

Sponsoring broker

Question 11

The sponsoring broker’s name as licensed by the department or the assumed name registered by the sponsoring broker with the division

Answer 11

Sponsoring Broker’s name

Question 12

In the case of a franchise, the ___ shall include the franchise affiliation and the name of the individual firm

Answer 12

Sponsoring Broker’s name

Question 13

Term meaning that a sponsoring broker has certified to the division that a broker, managing broker, or residential leasing agent is employed by, or associated with by written employment or independent contractor agreement, and the division has registered the sponsorship.

Answer 13

Sponsorship

Question 14

___ exists once an agreement has reached and an accepted real estate contract is signed, or a lease is agreed to, by the parties

Answer 14

Transaction

Question 15

An office from which real estate brokerages are provided without a dedicated office space or fixed physical location under the supervision of the designated managing broker, where sponsored licensees provide services within the meaning of the term “broker.”

Answer 15

Virtual Office

Question 16

Act

Answer 16

Real Estate Act of 2000

Question 17

A sworn statement made by an unlicensed person associated with, or an unlicensed owner or member of, a licensed real estate corporation, LLC, partnership, limited partnership, or limited liability partnership attesting that the unlicensed person is not actively directing or engaging in licensed activities as part of that association or ownership.

Answer 17

Affidavit of non-participation

Question 18

Board

Answer 18

Real Estate Administration and Disciplinary Board

Question 19

CE

Answer 19

Continuing Education

Question 20

An agreement entered into between a licensee and the division in conjunction with an administrative warning letter

Answer 20

Compliance Agreement

Question 21

A minimum of 50 minutes of instruction through a course approved by the Division in a classroom, interactive webinar, online distance education, correspondence, or a home study course

Answer 21

Credit Hour

Question 22

Department

Answer 22

Department of Financial and Professional Regulation

Question 23

A managing broker who was appointed by the sponsoring broker to manage its real estate brokerage

Answer 23

Designated Managing Broker

Question 24

Director

Answer 24

Director of the Division of Real Estate

Question 25

Who delegates the directors authority?

Answer 25

The secretary

Question 26

Refusal to issue or renew a license, reprimand, probation, suspension or revocation of a license, fine, or any other action the department deems proper

Answer 26

Discipline

Question 27

Divison

Answer 27

IDFPR Division of Real Esate

Question 28

A school licensed by the Department offering courses in pre-license, post-license, or continuing education

Answer 28

Education Provider

Question 29

A signature in electronic form attached to or logically associated with an electronic record.

Answer 29

Electronic signature

Question 30

An education course that is administered independently by the student in a self-study format. It is outside of a classroom, physical, or virtual meeting space. It may, but is not required to, include communication with an IL licensed instructor.

Answer 30

Home Study

Question 31

Also called “correspondence course”

Answer 31

Home Study

Question 32

A home study does not require ongoing verification of the student’s ___ and ___, except for the administration of the proctored final exam required in connection with a non-interactive course.

Answer 32

participation and comprehension

Question 33

The final exam for a home study is ___.

Answer 33

Proctored

Question 34

Delivery of a course, approved by the department, through a medium allowing for interaction with the student

Answer 34

Interactive Delivery Method

Question 35

Delivery of a course by a licensed instructor through a medium allowing for live 2-way communication between the instructor and student. Either can initiate or respond to questions. Includes live instruction and real-time discussion via satellite, video, or webcam.

Answer 35

Interactive webinar

Question 36

A software application used for the administration, documentation, tracking, reporting, and delivery of educational courses or training programs

Answer 36

Learning Management System

Question 37

A sponsoring broker’s place of business where the general public is invited to transact business, or from which sponsored licensees work, where records may be maintained, and where licenses may be readily available.

Answer 37

Office

Question 38

Education courses that are interactive, but not in real time, in which students independently learn and review material online, and for verification of the student’s participation and comprehension, interact with an IL licensed in structor or Learning Management System

Answer 38

Online distance education

Question 39

The 45 hour education required of a new broker licensee.

Answer 39

Post-license education

Question 40

How many hours are there in post license education?

Answer 40

45

Question 41

Post license education consists of how many courses?

Answer 41

3

Question 42

Post license education consists of 3 courses that are ___ hours each.

Answer 42

15

Question 43

Each of the 3 required 15 hour post-license education courses consist of a ___ question final exam.

Answer 43

50

Question 44

The office location, whether physical or virtual, that serves as the principal place of business

Answer 44

Principal office