AgencyAgency_disclosures_and_compensation_policy_noticesMEDIUM
Blake Foster is reviewing an Illinois issue in Naperville. The person asks what Illinois requires a licensee to disclose to a client about compensation policy. Which statement best applies?
Correct Answer
D) The licensee must disclose the sponsoring broker's compensation policy, including the terms of compensation and amounts offered to cooperating brokers who represent other parties.
Illinois requires disclosure of the sponsoring broker's compensation policy, including amounts offered to cooperating brokers representing other parties.
Answer Options
A
Illinois requires disclosure only of the broker's personal split with the office, under this answer's view of the rule.B
Illinois prohibits discussing amounts offered to cooperating brokers with a client, according to this option.C
Illinois requires compensation disclosure only if a transaction closes, as this answer frames the Illinois rule.D
The licensee must disclose the sponsoring broker's compensation policy, including the terms of compensation and amounts offered to cooperating brokers who represent other parties.Why This Is the Correct Answer
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Why the Other Options Are Wrong
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Related Topics & Key Terms
Key Terms:
agencyagency_disclosures_and_compensation_policy_noticesclient_noticecompensation_disclosuredifficulty_3disclosure_requirementsillinois_statescenario
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