Illinois Real Estate Exam Practice Question
Which of the following is required in an employment agreement according to the Illinois Real Estate License Act of 2000?
Correct Answer: C
Rationale: An employment agreement under the Illinois Real Estate License Act of 2000 must include an explanation of how the employee will be compensated, which ensures clarity in financial expectations and aligns with legal requirements.
Option A, specifying hours worked, is not mandatory in the Act, allowing for flexibility in employment arrangements. Option B, membership in a professional organization, is beneficial but not a legal requirement for the agreement. Option D, a personal reference, may be useful for hiring but is not a stipulated component of the employment agreement under the Act.
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