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Illinois Real Estate Proficiency Examination
Broker to Managing Broker

What Topics Will The Proficiency Exam Cover?
The Broker to Managing Broker transition exam will contain 70 multiple-choice questions, allocated according to the outline below.

Laws and Regulations
24 questions on this subject

    License Law
  • Advertising (including internet)
  • Disclosure Requirements (including licensee ownership disclosure)
  • Employment Agreements and Policy Manual Compliance
  • Types of Licenses
    Real Property Issues
  • Home Inspection Issues
  • Zoning
    Property Disclosures
  • Residential Real Property Disclosure Report
  • AIDS (HIV)
  • Stigmatized Property
  • Material Defects
  • Environmental Disclosures (e.g. radon, lead based paint)
    Risk Management Issues
  • Fair Housing
  • Anti-trust
  • Marketing Restrictions (e.g. CANSPAM, Do Not Call/Fax)
  • Referral to Experts (e.g. appraisal, inspection, financial)
  • Unauthorized Practice of Law

 

Managing Broker Topics
20 questions on this subject

    Sponsorship Issues
  • Employment Agreements (including licensing, termination, or transfer)
  • Licensed and Unlicensed Personal Assistants
  • Dispute Resolution
  • Training and Supervision
  • Teams
    Special Accounts (escrow)
    Commercial Broker Lien Act
    Company Policies and Procedures
    Record Keeping (including confidentiality)
    Office Management
  • Opening and Office/Branch Office (including entity types, and licensing)
  • Compensation (e.g., errors and omissions insurance)
  • Liability Protection (e.g.,errors and omissions insurance
  • Disclosure of Affiliated Business Arrangements
  • Closing an Office

     

Real Estate Transactions
14 questions on this subject

    Market Analysis/Pricing Issues
  • Market Conditions
  • Property Conditions
  • Distress Sales
    Financing
  • Short Sale Process
  • Foreclosure Process
    Contracts and Conveyances
  • Brokerage Agreements (including property management)
  • Presentation of Offers (including multiple and Contemporaneous Offers)
  • Contingencies
  • Earnest Money Issues
  • Canceling a Contract
    Closing a Transaction
  • RESPA (e.g. disclosures, kickbacks)
  • Mortgage Fraud

Agency
12 questions on this subject

    Designated Agency
    Dual Agency
    Ministerial Acts
    Non-agency Disclosure
    Minimum Services
    Compensation

    Confidentiality

     


Who needs to take the Proficiency Exam?
Any Illinois Licensed Real Estate Salesperson wishing to upgrade their license to a Broker without taking additional hours of Pre-licensing.
How Will The Proficiency Exam Be Administered?
By AHI (and other Pre-licensing schools) and submitted to AMP for final grading.
How Can I Study For The Proficiency Exam?
AHI has prepared an Exam-Prep course to assist you in passing the Proficiency Exam.
Click Here for course info.
 
When Will I Be Able To Take My Proficiency Exam?
January 2011