Illinois Real Estate Exam Practice Question
Which of the following acts by a licensee violates Illinois license law?
Correct Answer: C
Rationale: Option C violates Illinois license law because it requires full disclosure of any personal interest a licensee has in a property. Failing to disclose such an interest can lead to conflicts of interest and undermine trust in the transaction.
Option A is permissible as sharing the listing price with a neighbor does not breach confidentiality or legal obligations. Option B is acceptable as charging for filing fees is a common practice, provided it’s agreed upon with the seller. Option D complies with regulations, as earnest money must be deposited within the specified timeframe after an offer is accepted.
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