Under the Illinois Real Estate License Act of 2000, which continuing education requirement is satisfied for a licensee who completes the approved 45-hour managing broker prelicense course during the initial managing broker license term?
Correct Answer
C) The 12-hour broker-management CE requirement for the initial managing broker license term only.
The Illinois Real Estate License Act of 2000 expressly provides that the approved 45-hour managing broker prelicense brokerage administration and management course satisfies the 12-hour broker-management continuing education requirement, but only for the initial managing broker license term. This is a limited, one-time equivalency tied specifically to the initial term.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Florida real estate licenses must be renewed biennially, and sales associates have specific post-license education requirements for their first renewal.
License requirements are the mandatory qualifications—including pre-licensing education, examination, and background checks—that a person must satisfy before legally practicing real estate. These requirements are established and enforced by each state's real estate commission.
Market allocation is an illegal antitrust practice in which competing real estate brokerages agree to divide markets among themselves by geographic area, property type, or price range, thereby eliminating competition.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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