Illinois Real Estate Practice Test Test Your Knowledge Before the Illinois Broker Licensing Exam

Take a 40-Question Illinois Broker Practice Test

Preparing for the Illinois Real Estate Broker Exam requires more than memorizing definitions. You need to recognize rules, apply them to scenarios, solve practical problems, and distinguish Illinois-specific requirements from general real estate principles.

The current Illinois State Broker examination contains 40 scored questions, requires a 75% passing score, and allows 90 minutes.

The practice test below contains 40 original Illinois-focused questions organized around the current PSI state content outline. Try completing all questions before checking the answer key and explanations.


Current Illinois Broker Exam Structure

The complete Illinois Broker examination has two scored portions.

Exam Portion Scored Questions Passing Score Time Allowed
National 100 70% 150 minutes
Illinois State 40 75% 90 minutes

PSI may also include a small number of experimental questions that are not scored but still use examination time.

This page focuses primarily on the:

40-question Illinois State portion

Illinois Broker Exam Format


What This Practice Test Covers

The current Illinois State Broker content outline is divided into four major areas.

Illinois Exam Area Current Weight Approximate Questions on This Practice Test
Licensing Requirements 10% 4
Illinois Real Estate License Act 40% 16
Additional Illinois Laws and Regulations 25% 10
Disclosures 25% 10
Total 100% 40

This structure is designed to give you practice across the same broad subject areas emphasized in the current state examination outline.


Important Practice Test Notice

The questions on this page are:

Original educational practice questions

They are not:

  • Actual PSI examination questions
  • Leaked examination questions
  • Reproductions of confidential test items
  • A guarantee of what will appear on your examination

Use them to test your understanding of the topics identified in the current Illinois exam outline.

For official examination rules and content categories, always use the latest PSI Illinois Division of Real Estate Candidate Information Booklet.


How to Take This Practice Test

For the most realistic practice:

1. Set a 90-Minute Timer

The actual Illinois State Broker portion currently allows 90 minutes.

2. Do Not Look at the Answers

Complete all 40 questions before reviewing the answer key.

3. Choose One Best Answer

Select A, B, C, or D.

4. Mark Difficult Questions

If you are unsure, choose your best answer and mark the question for later review.

5. Score Yourself

There are 40 questions.

A score of:

30 out of 40 = 75%

which mathematically matches the current official state passing percentage.

One practice-test result, however, does not guarantee the same result on the actual examination.


Practice Test Score Sheet

Record your answer before checking the answer key.

Question Answer Question Answer
1 ___ 21 ___
2 ___ 22 ___
3 ___ 23 ___
4 ___ 24 ___
5 ___ 25 ___
6 ___ 26 ___
7 ___ 27 ___
8 ___ 28 ___
9 ___ 29 ___
10 ___ 30 ___
11 ___ 31 ___
12 ___ 32 ___
13 ___ 33 ___
14 ___ 34 ___
15 ___ 35 ___
16 ___ 36 ___
17 ___ 37 ___
18 ___ 38 ___
19 ___ 39 ___
20 ___ 40 ___

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Illinois Real Estate Practice Test — Questions 1–10

Question 1

What is the current minimum age for a standard Illinois Real Estate Broker applicant?

A. 17

B. 18

C. 20

D. 21


Question 2

How many hours of approved pre-license education does a standard first-time Illinois Broker applicant generally complete?

A. 45 hours

B. 60 hours

C. 75 hours

D. 90 hours


Question 3

How many sponsoring brokers may an Illinois Broker have at one time?

A. One

B. Two

C. Three

D. There is no limit


Question 4

A standard Illinois Broker candidate fails the licensing examination four consecutive times. What is generally required before another attempt?

A. Wait 30 days only

B. Complete 15 hours of continuing education

C. Repeat the applicable 75-hour pre-license education

D. Apply directly to IDFPR without another examination


Question 5

Under Illinois's designated agency system, which statement is MOST accurate?

A. Every licensee in the brokerage automatically represents every client of the brokerage

B. Specific sponsored licensees are designated to act as legal agents for a client

C. Illinois prohibits buyer representation

D. A consumer can never be represented by more than one designated licensee


Question 6

A sponsoring broker enters into a relationship to represent a consumer purchasing real estate. Current Illinois law generally requires the terms of that relationship to be:

A. Verbal only

B. Established in a written brokerage agreement

C. Approved by PSI

D. Recorded with the county


Question 7

A listing Broker is working with an unrepresented buyer. When should the Broker disclose that the Broker is not acting as the buyer's agent?

A. Only after closing

B. Only if the buyer asks

C. At a time designed to prevent disclosure of confidential information and no later than preparation of an offer

D. Only when the seller authorizes disclosure


Question 8

Which factor determines an Illinois agency relationship?

A. Whoever pays the compensation is always the client

B. The party who first contacts the Broker

C. The actual brokerage relationship, not merely the source of compensation

D. Whoever owns the property


Question 9

One individual Illinois licensee wants to represent both the buyer and seller in the same transaction. What is required?

A. Verbal approval from the sponsoring broker only

B. Informed written consent of the affected clients

C. Approval from PSI

D. No consent if both parties use the same brokerage


Question 10

An Illinois Broker personally owns a property that the Broker is selling. Which statement is MOST accurate?

A. The Broker should conceal licensee status to avoid influencing the buyer

B. Licensee status and applicable ownership interest must be disclosed as required by Illinois law

C. Disclosure is needed only after closing

D. The Broker cannot sell personally owned property


Illinois Real Estate Practice Test — Questions 11–20

Question 11

Which advertisement creates the clearest Illinois license-law concern?

A. An advertisement identifying the sponsoring brokerage and Broker

B. A properly identified brokerage website

C. A sponsored Broker advertising licensed services without properly identifying the sponsoring brokerage

D. A property advertisement containing photographs


Question 12

When a real estate advertisement displays an individual Broker or team name, the sponsoring brokerage name generally must be:

A. Hidden in a separate webpage

B. Smaller than the team name

C. Properly displayed as required by Illinois advertising law

D. Omitted if the Broker has more than two years of experience


Question 13

An Illinois licensee working with a customer who is not represented by the licensee must:

A. Provide false information if requested by the client

B. Treat the customer honestly and avoid knowingly or negligently giving false information

C. Provide the same fiduciary representation owed to a client

D. Refuse all communication with the customer


Question 14

A seller's Broker actually knows of a serious hidden structural condition that a prospective buyer could not discover through reasonably diligent inspection. Which statement is MOST accurate?

A. The Broker must always keep it confidential

B. The Broker may have a duty to disclose the latent material adverse physical fact

C. Only the home inspector may mention it

D. It never matters if the seller completed a disclosure form


Question 15

An Illinois Broker's sponsorship with Brokerage A terminates. Before another valid sponsorship is established, the Broker generally:

A. Continues practicing independently

B. May practice for any brokerage for 30 days

C. Is prohibited from performing licensed activities while inactive

D. Automatically becomes a Managing Broker


Question 16

A sponsored Illinois Broker earns compensation from licensed brokerage activity. The compensation generally should be handled through:

A. Any party willing to pay the Broker directly

B. The Broker's sponsoring broker

C. PSI

D. The county recorder


Question 17

A seller client instructs the Broker not to show the property to families with children. What should the Broker do?

A. Follow the instruction because clients control all brokerage activity

B. Follow the instruction only when the listing is exclusive

C. Refuse to follow an unlawful discriminatory instruction

D. Follow the instruction but avoid putting it in writing


Question 18

One designated agent represents two buyer clients who are preparing offers on the same property and knows the offers will be considered at the same time. Illinois law addresses this situation through rules concerning:

A. Adverse possession

B. Contemporaneous offers

C. Eminent domain

D. Escrow conversion


Question 19

Which statement about a Broker Price Opinion or Comparative Market Analysis is MOST accurate?

A. It is always legally identical to an appraisal

B. Brokers can never prepare one

C. Illinois permits qualifying BPOs and CMAs within applicable brokerage rules, but they are not automatically appraisals

D. Only buyers may request one


Question 20

A seller tells an Illinois Broker to make an advertising statement that the Broker knows is false. What should the Broker do?

A. Publish it because the seller owns the property

B. Publish it if the seller signs a waiver

C. Refuse to use false or misleading advertising

D. Publish it only on social media


Illinois Real Estate Practice Test — Questions 21–30

Question 21

Which of the following is protected under Illinois housing law and therefore requires particular attention from Brokers handling rentals?

A. Preferred furniture style

B. Source of income

C. Favorite sports team

D. Type of mobile phone


Question 22

A housing provider has a "no pets" rule. A tenant with a disability makes a qualifying request involving an assistance animal. Which statement is MOST appropriate?

A. Assistance animals must always be treated exactly like ordinary pets

B. A reasonable-accommodation analysis may require an exception to a pet rule

C. Fair housing never applies to animals

D. Only homeowners can request accommodations


Question 23

A Broker is asked by a client to draft a complicated custom legal provision and advise the client about its legal consequences. The safest professional approach is generally to:

A. Give legal advice because every Broker is also an attorney

B. Recognize the limits of the real estate license and recommend appropriate legal counsel when needed

C. Refuse to communicate with the client again

D. Ask the buyer to write the clause instead


Question 24

In a condominium form of ownership, an owner generally has:

A. No ownership interest in the individual unit

B. Ownership of the unit together with an applicable interest in common elements

C. Ownership only of common hallways

D. A leasehold interest only


Question 25

Which government power involves taking private property for a public purpose subject to applicable legal requirements?

A. Escheat

B. Eminent domain

C. Novation

D. Avulsion


Question 26

Which document is primarily used to transfer title to real property from a grantor to a grantee?

A. Deed

B. Listing agreement

C. Promissory note

D. Brokerage policy manual


Question 27

An Illinois Broker is asked to give a definitive legal opinion about whether a title defect makes a deed unenforceable. What is the BEST response?

A. Give the opinion because title law is included in the licensing course

B. Refer the legal question to an appropriate attorney or qualified title professional

C. Guess based on previous transactions

D. Tell the client title defects never matter


Question 28

Illinois residential rental law can require disclosure regarding prior flooding for certain lower-level units. The current lookback period for applicable known flooding is:

A. 1 year

B. 3 years

C. 5 years

D. 10 years


Question 29

Which statement BEST reflects Illinois fair housing compliance?

A. A client's discriminatory preference should always be followed

B. Brokerage duties override fair housing law

C. A Broker must comply with applicable fair housing and civil rights requirements

D. Fair housing applies only to government-owned property


Question 30

A Broker receives a question involving an unfamiliar Illinois legal requirement that could materially affect the client's transaction. The BEST professional response is generally to:

A. Invent an answer so the client remains confident

B. Verify the applicable rule and involve the managing broker or appropriate professional when needed

C. Ignore the question

D. Give the same answer used in another state


Illinois Real Estate Practice Test — Questions 31–40

Question 31

When must an Illinois designated agent generally provide written disclosure of the agency relationship?

A. After the transaction closes

B. No later than beginning to work as the consumer's designated agent

C. Only when an offer is rejected

D. At license renewal


Question 32

For a covered Illinois residential sale, the seller's Residential Real Property Disclosure Report generally should be delivered:

A. After closing

B. After title transfer

C. Before the prospective buyer signs the contract

D. Only when the buyer requests it


Question 33

The Illinois Residential Real Property Disclosure Report is primarily based on:

A. Defects the seller actually knows about

B. Every possible defect a future inspector might discover

C. Conditions known only to neighbors

D. A mandatory engineering inspection performed by the seller


Question 34

A seller agrees to sell a covered residential property "As Is." Which statement is MOST accurate?

A. "As Is" automatically eliminates all statutory disclosure duties

B. "As Is" means the seller can knowingly provide false information

C. An As Is agreement and statutory disclosure requirements are separate issues

D. Illinois prohibits As Is residential sales


Question 35

After delivering the property disclosure report, the seller discovers before closing that a previous answer was inaccurate. What may be required?

A. Nothing, because the first report can never be changed

B. A written supplemental disclosure

C. Cancellation of every transaction

D. Destruction of the original report


Question 36

For an applicable Illinois residential sale, required radon information generally should be provided:

A. Only after closing

B. Before the buyer becomes obligated under the purchase contract

C. Only if the property is less than five years old

D. Only if the buyer is a real estate licensee


Question 37

Federal lead-based paint disclosure rules generally apply to many residential properties built before:

A. 1950

B. 1960

C. 1978

D. 2000


Question 38

An Illinois licensee purchases a property for the licensee's own investment portfolio. Which disclosure issue should the licensee recognize?

A. Licensee status and applicable direct or indirect interest may need written disclosure

B. Real estate professionals never disclose their status in personal transactions

C. Disclosure applies only if the property is commercial

D. Disclosure occurs only after resale


Question 39

A licensee has previously obtained written permission for possible dual agency and now actually becomes a dual agent in a specific transaction. Illinois law generally requires:

A. No additional documentation

B. Transaction-specific written confirmation of the clients' prior consent

C. Approval by every Broker in the office

D. A new real estate license


Question 40

A seller's agent actually knows about a hidden material physical defect that a prospective buyer could not discover through a reasonably diligent inspection. Which statement BEST reflects Illinois Broker duties?

A. The fact must always remain confidential

B. The agent can ignore it because only the seller has disclosure obligations

C. The licensee has a duty to timely disclose qualifying latent material adverse physical facts

D. The agent may disclose it only after closing


Stop Here Before Checking Your Answers

Before continuing:

  1. Make sure every question has an answer.
  2. Record your finish time.
  3. Mark any questions you guessed.
  4. Do not change answers merely because you feel uncertain.

Now calculate your result after reviewing the answer key below.


Illinois Practice Test Answer Key

Question Answer Question Answer
1 B 21 B
2 C 22 B
3 A 23 B
4 C 24 B
5 B 25 B
6 B 26 A
7 C 27 B
8 C 28 D
9 B 29 C
10 B 30 B
11 C 31 B
12 C 32 C
13 B 33 A
14 B 34 C
15 C 35 B
16 B 36 B
17 C 37 C
18 B 38 A
19 C 39 B
20 C 40 C

Calculate Your Practice Test Score

Use:

\[

\text{Score}

=

\frac{\text{Correct Answers}}{40}

\times100

\]

Examples:

Correct Practice Score
40 100%
36 90%
34 85%
32 80%
30 75%
28 70%
24 60%
20 50%

The current official Illinois State Broker passing score is:

75%

On this 40-question practice test:

30 correct answers = 75%

A practice score should be treated as study feedback rather than a prediction of your official exam result.


Answer Explanations — Questions 1–10

1. B — 18

The current minimum age for a standard Illinois Broker applicant is 18.

Illinois Broker License Eligibility

2. C — 75 Hours

Standard first-time applicants generally complete 75 hours of approved Broker pre-license education consisting of 60 hours of Broker Pre-License Topics and 15 hours of Applied Real Estate Principles.

3. A — One Sponsoring Broker

Illinois law provides that a licensee may have only one sponsoring broker at a time.

4. C — Repeat the Applicable 75-Hour Education

After four consecutive failures, a standard Broker candidate must repeat the applicable pre-license education before another examination attempt.

5. B — Specific Licensees Are Designated

Illinois uses designated agency. Specific sponsored licensees are designated to represent particular clients.

6. B — Written Brokerage Agreement

Current Illinois law requires applicable brokerage relationships involving listing, buying, selling, exchanging, renting, or leasing real estate to be established through a written brokerage agreement.

7. C — Early No-Agency Disclosure

The disclosure should occur early enough to prevent the customer from unnecessarily revealing confidential information and, in any event, no later than preparation of an offer to purchase or lease.

8. C — Compensation Does Not Determine Agency

Illinois law expressly states that compensation does not determine the agency relationship.

Dual agency is permitted only when all affected clients provide informed written consent and the other applicable requirements are satisfied.

10. B — Disclose Licensee Status and Interest

A licensee personally involved in buying, selling, or leasing an interest in property must comply with applicable written disclosure requirements involving professional status and ownership interest.


Answer Explanations — Questions 11–20

11. C — Failure to Identify the Sponsoring Brokerage

Illinois generally prohibits blind advertising. Consumers should be able to identify the sponsoring brokerage responsible for the licensed activity.

12. C — Sponsoring Brokerage Must Be Properly Displayed

Illinois advertising rules regulate how sponsoring brokerage, individual licensee, and team names appear.

13. B — Honest Treatment of Customers

A customer may not be the Broker's client, but Illinois licensees must still treat customers honestly and avoid knowingly or negligently providing false information.

14. B — Material-Fact Disclosure Duty

A seller's licensee can have a duty to disclose actually known latent material adverse physical facts that the prospective buyer could not discover through reasonably diligent inspection.

15. C — Inactive Until Sponsorship Is Established

A Broker cannot simply continue licensed practice after sponsorship terminates. Valid sponsorship is required for active brokerage activity.

16. B — Sponsoring Broker

A sponsored licensee's compensation for licensed activity is generally handled through the sponsoring broker under Illinois law.

17. C — Refuse the Discriminatory Instruction

A Broker follows only lawful client directions. Fair housing and civil rights laws override discriminatory client instructions.

18. B — Contemporaneous Offers

Illinois has specific disclosure rules when one designated agent represents multiple clients making or preparing competing offers on the same property at the same time.

19. C — BPO/CMA Is Not Automatically an Appraisal

Illinois permits Brokers to prepare qualifying CMAs and BPOs under applicable rules, but brokerage valuation activity is distinct from licensed appraisal practice.

20. C — Refuse False Advertising

Illinois advertising may not be fraudulent, deceptive, inherently misleading, or misleading in practice.


Answer Explanations — Questions 21–30

21. B — Source of Income

Illinois housing protections include source of income, which can be particularly relevant in rental housing.

Illinois Fair Housing for Brokers

22. B — Reasonable Accommodation May Be Required

An assistance animal is not simply treated as an ordinary pet for fair housing purposes. A qualifying disability-related accommodation can require an exception to a general pet policy.

23. B — Recognize Professional Limits

A real estate license does not make a Broker an attorney. When a client needs legal advice, referral to an appropriate attorney can be necessary.

24. B — Unit Plus Interest in Common Elements

Condominium ownership generally involves individual ownership of the unit plus an applicable undivided interest in common elements.

25. B — Eminent Domain

Eminent domain is the government's power to take private property for a public purpose subject to applicable constitutional and statutory requirements. Condemnation is the legal process commonly used to exercise that power.

26. A — Deed

A deed is the primary instrument used to transfer title to real property from a grantor to a grantee.

A Broker should recognize the limits of the real estate license and avoid unauthorized practice of law.

28. D — 10 Years

Current Illinois residential rental rules include a 10-year lookback for known flooding affecting certain lower-level units.

29. C — Comply With Fair Housing Law

Client instructions and brokerage goals do not override fair housing and civil rights requirements.

30. B — Verify and Seek Appropriate Guidance

Professional practice requires accuracy. When the rule is uncertain, verify the requirement and involve the managing broker, attorney, or another appropriate professional where necessary.


Answer Explanations — Questions 31–40

31. B — Beginning to Work as Designated Agent

Illinois generally requires written disclosure no later than when the licensee begins working as the consumer's designated agent.

32. C — Before Contract Signing

For covered Illinois residential transfers, the statutory Residential Real Property Disclosure Report generally must be delivered before the prospective buyer signs the contract.

Illinois Real Estate Disclosure Requirements

33. A — Seller's Actual Knowledge

The statutory seller report is based on material defects of which the seller has actual knowledge. The seller is not generally required to conduct a special investigation merely to complete the form.

34. C — Separate Issues

An As Is contract does not automatically eliminate statutory disclosure duties.

35. B — Supplemental Disclosure

If the seller becomes aware before closing of an error, inaccuracy, or omission in the prior report, a written supplemental disclosure may be required.

36. B — Before Buyer Becomes Obligated

For covered sales, Illinois radon disclosure information generally must be provided before the buyer becomes obligated under the purchase contract.

37. C — Before 1978

Federal lead-based paint disclosure requirements generally apply to many residential properties built before 1978.

38. A — Licensee Interest Disclosure

Illinois law requires applicable disclosure when a licensee has a direct or indirect personal interest in property involved in the transaction.

39. B — Transaction-Specific Confirmation

When dual agency actually occurs, the clients' prior written consent must also be confirmed for the specific transaction as required by Illinois law.

40. C — Disclosure of Qualifying Latent Material Facts

The seller's agent has a professional duty involving certain actually known latent material adverse physical facts that a prospective buyer could not discover through reasonably diligent inspection.


How Did You Perform?

Use your score to decide what to study next.

36–40 Correct

You demonstrated strong performance on this particular practice set.

Review every missed or guessed question rather than studying only your final percentage.

30–35 Correct

Your score is at or above 75% on this practice set, but continue practicing until your understanding is consistent across different question wording and topics.

24–29 Correct

Several Illinois-specific topics need additional review before relying on timed practice alone.

Below 24 Correct

Return to the underlying Illinois law, agency, licensing, and disclosure concepts before taking more full practice tests.

One practice test should never be your only measure of readiness.


Review Your Score by Topic

Your overall score can hide an important weakness.

Break your result into the four major Illinois categories.

Licensing Requirements

Questions:

1–4

Score:

___ / 4

Illinois Real Estate License Act

Questions:

5–20

Score:

___ / 16

Additional Illinois Laws and Regulations

Questions:

21–30

Score:

___ / 10

Disclosures

Questions:

31–40

Score:

___ / 10

This tells you where the mistakes are concentrated.


Do Not Review Only the Questions You Got Wrong

Also review questions that you:

  • Guessed correctly
  • Narrowed down to two choices
  • Answered for the wrong reason
  • Took too long to answer

A correct answer based on guessing still identifies a study weakness.

Mark each question:

Know It

I understood the rule.

Unsure

I got it right but was not confident.

Missed

I need to review the concept.

Your next study session should focus on:

Unsure + Missed


Build an Error Log

Use a table like this:

Question Topic Why I Missed It Correct Rule
7 No Agency Forgot disclosure timing No later than preparation of offer
18 Agency Did not recognize competing clients Contemporaneous-offer disclosure applies
32 Property Disclosure Thought report could follow contract Generally deliver before contract
37 Lead Forgot construction year Federal rule generally uses pre-1978 housing

Do not simply write:

"Question 7 = C."

Write the rule you need to remember.


Review Area 1: Illinois Licensing Requirements

If Questions 1–4 caused difficulty, review:

  • Minimum age
  • High school education requirement
  • 75-hour education
  • PSI examination
  • Sponsorship
  • Post-license education
  • Continuing education
  • License renewal
  • License information changes

Illinois Broker License Requirements


Review Area 2: Illinois Real Estate License Act

This is the largest category in the current Illinois State Broker outline.

Review:

  • Agency
  • Material facts
  • Advertising
  • Sponsorship
  • Brokerage agreements
  • Compensation
  • Teams
  • Licensed and unlicensed assistants
  • Handling money
  • Handling documents
  • Discipline
  • CMA and BPO requirements
  • Contracts and leases
  • Purpose of license law

Illinois Real Estate License Law


Review Area 3: Additional Illinois Laws

If Questions 21–30 were difficult, focus on:

  • Ownership
  • Condominiums
  • Government powers
  • Transfer of title
  • Legal descriptions
  • Real estate taxes
  • Illinois Human Rights Act
  • Assistance animals
  • Landlord-tenant requirements
  • Commercial brokerage rules
  • Boundaries of real estate practice

Do not answer these questions only from general national real estate knowledge.

Illinois-specific rules matter.


Review Area 4: Illinois Disclosures

The current state outline gives disclosures substantial weight.

Study:

  • Designated agency
  • Buyer and tenant agency
  • Seller and landlord agency
  • Dual agency
  • No-agency notice
  • Contemporaneous offers
  • Licensee ownership
  • Compensation sources
  • Residential property disclosure
  • Material defects
  • Radon
  • Lead-based paint
  • Mine subsidence
  • Underground storage tanks
  • Applicable landlord flooding disclosures

Illinois Real Estate Disclosure Requirements


The National Portion Still Matters

This page's 40-question test emphasizes the Illinois State portion.

The actual Broker examination also includes a separate:

100-question scored National portion

with a current passing score of:

70%

National topics include:

  • Property Ownership
  • Land Use Controls
  • Valuation
  • Financing
  • Contracts
  • Agency
  • Property Disclosures
  • Property Management
  • Transfer of Title
  • Practice of Real Estate
  • Real Estate Calculations

Do not prepare only for Illinois law.

Illinois Broker Exam Topics


Current National Broker Topic Weights

The current PSI National Broker outline uses approximately:

National Topic Weight
Property Ownership 10%
Land Use Controls 5%
Valuation 8%
Financing 10%
Contracts 19%
Agency 13%
Property Disclosures 7%
Property Management 3%
Transfer of Title 6%
Practice of Real Estate 12%
Real Estate Calculations 7%

Contracts currently have the largest National Broker weighting.

Agency and Practice of Real Estate are also significant areas.


Practice Real Estate Math Separately

The National Broker examination currently includes real estate calculations.

Practice areas can include:

  • Seller net proceeds
  • Buyer funds needed at closing
  • Property tax prorations
  • Transfer fees
  • PITI
  • Equity
  • Capitalization rate
  • Loan-to-value ratio
  • Discount points
  • Origination fees

Do not rely only on conceptual practice questions.

Math needs repeated calculation practice.


Mini Math Practice

Question A

A property sells for $300,000. A buyer obtains a $240,000 loan.

What is the loan-to-value ratio?

\[

\$240,000 \div \$300,000 = 0.80

\]

Answer:

80%


Question B

A property is worth $350,000 and has a $210,000 mortgage balance.

What is the owner's equity before other obligations?

\[

\$350,000-\$210,000=\$140,000

\]

Answer:

$140,000


Question C

A $250,000 loan has 2 discount points.

One point equals 1% of the loan amount.

\[

\$250,000\times0.02=\$5,000

\]

Answer:

$5,000


Practice Reading the Question Before Solving It

Real estate questions often include more information than you need.

Before answering:

Step 1

Identify the topic.

Step 2

Identify what the question actually asks.

Step 3

Watch for words such as:

  • BEST
  • MOST
  • FIRST
  • EXCEPT
  • NOT
  • REQUIRED
  • MAY
  • MUST

Step 4

Remove obviously incorrect choices.

Step 5

Choose the answer that most accurately applies the rule.

Do not answer the question you expected to see.

Answer the question that is actually written.


Do Not Add Facts That Are Not Given

Suppose a practice question says:

A seller's Broker knows about a hidden material defect.

Do not add assumptions such as:

  • The buyer already knows
  • The seller has repaired it
  • An attorney approved nondisclosure
  • The contract contains a waiver

unless the question tells you those facts.

Licensing questions often test whether you can apply a rule to the exact facts provided.


Understand Why the Wrong Answers Are Wrong

After answering a question correctly, ask:

Why are A, B, and D wrong?

This matters because the real exam may test the same rule with completely different wording.

For example:

If you know only that:

Question 9 = B

you have memorized an answer.

If you know:

Illinois dual agency requires informed written consent

you have learned the concept.


Use Timed Practice Carefully

The Illinois State portion currently gives:

90 minutes for 40 scored questions

That averages approximately:

2 minutes and 15 seconds per scored question

But you should not force yourself to spend exactly that amount on each question.

Some may take:

20 seconds.

Others may require:

2–3 minutes.

Keep moving and preserve time for difficult questions.


Do Not Spend Ten Minutes on One Question

If a question is slowing you down:

  1. Eliminate clearly incorrect answers.
  2. Choose the best remaining answer if necessary.
  3. Mark it for review when the testing system allows.
  4. Continue.

One difficult question should not consume time needed for several easier questions.


Prepare for Unscored Experimental Questions

PSI states that a small number of:

Approximately 5 to 10 experimental questions

may be included during the examination.

These questions:

  • Are not scored
  • Are not identified
  • Still consume examination time

You cannot reliably identify them.

Treat every question seriously.


Practice Test vs Memorization

A useful practice test should expose your weaknesses.

A poor study approach looks like:

Take Test → Memorize Answers → Retake Same Test → Get 100%

A stronger approach is:

Take Test

↓

Identify Weak Topics

↓

Review Rules

↓

Practice New Questions

↓

Retest With Different Wording

Improvement should come from understanding—not answer recognition.


When Should You Take Another Practice Test?

Take another full practice test after you have reviewed the weaknesses revealed by this one.

Do not immediately repeat the same test five times.

Between tests:

  • Review the error log
  • Study weak concepts
  • Practice math
  • Review Illinois law
  • Complete topic-specific questions

Then use a different practice set to test whether the knowledge transfers.


Practice Tests Should Come Later in Your Study Process

During early study, focus on:

  • Learning concepts
  • Creating notes
  • Topic-by-topic questions
  • Calculations
  • Illinois law
  • Agency scenarios

During later study, increase:

  • Mixed questions
  • Timed quizzes
  • Full practice tests
  • Weak-topic retesting

Illinois Real Estate Course Study Guide


Signs You Need More Content Review

Return to your study materials if you frequently:

  • Guess between three or four choices
  • Forget basic licensing requirements
  • Mix up client and customer
  • Confuse designated and dual agency
  • Miss disclosure timing
  • Avoid math questions
  • Confuse national and Illinois rules
  • Know definitions but cannot apply them to scenarios

Practice tests identify these problems.

Content review fixes them.


Signs Your Preparation Is Becoming Stronger

Progress looks like:

  • Explaining why an answer is correct
  • Eliminating distractors quickly
  • Recognizing the topic from the facts
  • Solving calculations without guessing
  • Distinguishing Illinois rules from general principles
  • Maintaining performance across new question sets
  • Finishing timed practice without rushing the last section

Consistency is more meaningful than one unusually high score.


Build a Three-Part Exam Preparation System

Part 1 — Content

Understand:

  • Property
  • Financing
  • Contracts
  • Agency
  • Illinois law
  • Disclosures

Part 2 — Questions

Apply the content through new scenarios.

Part 3 — Review

Study every mistake and uncertain answer.

Repeat the cycle:

Learn → Practice → Review → Retest

Illinois Broker Exam Study Guide


One-Week Practice Test Plan

If you are in the final stage of exam preparation, a week might look like:

Day 1

Take a timed practice test.

Day 2

Review every missed and guessed question.

Day 3

Study your two weakest topics.

Day 4

Complete topic-specific questions and math.

Day 5

Review Illinois law and disclosures.

Day 6

Take a different timed practice test.

Day 7

Review errors and complete light final study.

Adjust the schedule according to your actual readiness and examination date.


Final Exam Readiness Checklist

Before scheduling or taking the Broker examination, ask:

National Portion

  • [ ] Property ownership
  • [ ] Land-use controls
  • [ ] Valuation
  • [ ] Financing
  • [ ] Contracts
  • [ ] Agency
  • [ ] Property disclosures
  • [ ] Property management
  • [ ] Transfer of title
  • [ ] Practice of real estate
  • [ ] Calculations

Illinois Portion

  • [ ] Licensing requirements
  • [ ] Illinois Real Estate License Act
  • [ ] Sponsorship
  • [ ] Brokerage agreements
  • [ ] Agency
  • [ ] Advertising
  • [ ] Compensation
  • [ ] Additional Illinois laws
  • [ ] Illinois fair housing
  • [ ] Property disclosures
  • [ ] Environmental disclosures

Testing Skills

  • [ ] Timed practice
  • [ ] Error review
  • [ ] Read BEST / MOST / EXCEPT carefully
  • [ ] Complete calculations accurately
  • [ ] Avoid adding facts
  • [ ] Manage difficult questions

What Happens After You Pass the Broker Exam?

Passing the examination satisfies the examination stage.

It does not automatically issue an Illinois Broker license.

The next process can include:

  • Saving your score report
  • Finalizing sponsorship if seeking active status
  • Preparing your IDFPR application
  • Providing required information
  • Paying the applicable license application fee
  • Responding to any deficiencies
  • Waiting for IDFPR approval
  • Confirming that the license has been issued

After Passing the Illinois Broker Exam


Keep Practicing Until You Understand the Rules

A practice test is most valuable when it teaches you what to study next.

Do not chase a perfect score by memorizing the questions on this page.

Your goal should be to understand the principles well enough to answer:

A new question about the same rule

even when:

  • The names change
  • The facts change
  • The order changes
  • The correct answer appears under a different letter

That is the type of preparation that transfers to an actual examination.


Prepare With Illinois Broker Academy

Illinois Broker Academy provides educational resources for students preparing for the Illinois Broker licensing process.

Use your approved pre-license education as the foundation, then strengthen your preparation with:

  • Topic review
  • Practice questions
  • Timed testing
  • Real estate calculations
  • Illinois-law study
  • Error analysis

Continue Your Illinois Broker Exam Preparation

For the complete exam overview:

Illinois Real Estate Broker Exam

For the current test structure:

Illinois Broker Exam Format

For detailed tested subjects:

Illinois Broker Exam Topics

For a structured study plan:

Illinois Broker Exam Study Guide

For additional question-based preparation:

Illinois Broker Exam Questions

For practical testing strategies:

Illinois Broker Exam Tips

For exam registration:

Illinois Broker Exam Registration

For current testing costs:

Illinois Real Estate Exam Cost


Frequently Asked Questions

The current Broker examination contains 100 scored National questions and 40 scored Illinois State questions. PSI may also include a small number of unscored experimental questions.

The current Illinois State Broker portion contains 40 scored questions.

The current passing score for the Illinois State Broker portion is 75%.

Thirty correct answers out of 40 equals 75%. The actual examination score should be determined according to PSI's official scoring procedures.

The current National Broker passing score is 70%.

Current PSI guidance allows 90 minutes for the 40-question scored Illinois State portion.

Current PSI guidance allows 150 minutes for the 100-question scored National Broker portion.

No. The questions on this page are original educational practice questions created to review topics appearing in the current Illinois exam outline. They are not actual or confidential PSI examination questions.

No practice test can guarantee identical difficulty. Use it to test concepts and identify weaknesses rather than as an exact replica of the official examination.

The current state outline assigns 40% to the Illinois Real Estate License Act, 25% to Additional Illinois Laws and Regulations, 25% to Disclosures, and 10% to Licensing Requirements.

The Illinois Real Estate License Act is currently the largest Broker state category at 40%.

The current Broker state outline assigns 25% to disclosures.

Yes. Fair housing appears in relevant national content and Illinois-specific material, including the Illinois Human Rights Act and disclosure or professional-practice issues.

Yes. Agency appears in both national and Illinois-specific content and is an important part of Illinois professional practice.

Yes. Real Estate Calculations currently represent 7% of the National Broker content outline.

No. Learn the rule behind each answer. The actual examination can test the same principle through a completely different scenario.

Identify the categories where your mistakes occurred, return to those topics, study the underlying rules, complete new topic-specific questions, and then take another mixed practice test.

No. One practice score is not a guarantee. Consistent performance across new question sets, strong topic knowledge, calculation skills, and timed practice provide a better picture of readiness.

Short topic quizzes can be useful during the course. Full mixed practice tests generally become more valuable after you have studied most of the required material.

There is no required number. Focus on whether each test reveals weaknesses and whether your performance remains consistent when you answer new questions.

Yes. PSI states that approximately 5 to 10 experimental questions may be administered. They are not scored, are not identified, and still use examination time.

No. They are not identified to candidates, so treat every examination question seriously.

Review your weakest category first. Use the Illinois Broker Exam Study Guide, Illinois Real Estate License Law, Illinois Real Estate Agency, Disclosure Requirements, and Fair Housing resources as appropriate.

No. A practice test is only an educational tool. Licensure requires satisfying the official Illinois education, examination, application, sponsorship, and other applicable requirements.

Use the latest PSI Illinois Department of Financial and Professional Regulation Division of Real Estate Candidate Information Booklet and current IDFPR guidance.