Under the Illinois Real Estate License Act of 2000, what is the total minimum number of pre-licensing education hours required to obtain a managing broker license?
Correct Answer
C) 165 hours
165 hours are required for managing broker pre-licensing education under the Illinois Real Estate License Act of 2000. This total is composed of two mandatory components: the 120-hour broker pre-licensing course plus an additional 45-hour managing broker pre-licensing course, as specified under 225 ILCS 454.
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Related Topics & Key Terms
Key Terms:
Related Concepts
FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
A group boycott is an illegal antitrust practice in which two or more competing real estate businesses agree to refuse to work with a specific person, company, or entity in order to harm that party's ability to compete.
In real estate, the distinction between an independent contractor and an employee determines tax treatment, liability, and the level of control a broker may exercise over the agent's daily activities. Most real estate agents operate as independent contractors.
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