A licensee is under investigation for concealing a material fact from a client. The licensee argues that discipline cannot apply because the specific phrase 'dishonest dealing' does not appear anywhere on the contract form used in the transaction. How should this argument be evaluated under the Illinois License Act of 2000?
Correct Answer
D) The argument is invalid because the Act independently authorizes discipline for dishonest dealing regardless of the language on any contract form.
Under 225 ILCS 454, the Illinois License Act of 2000 grants the Department of Financial and Professional Regulation independent statutory authority to discipline licensees for dishonest dealing and other violations of the Act. This authority derives from the statute itself, not from the language of any particular contract form. A licensee cannot escape discipline simply by pointing to the absence of a specific phrase on a transaction document.
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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?
In Wyoming real estate practice, a first-time salesperson applicant completes coursework. What should the licensee remember?
A Wyoming licensee is reviewing an out-of-state salesperson applicant prepares for testing. What is the best answer?
In Wyoming real estate practice, a salesperson applicant age is reviewed. What should the licensee remember?
A responsible broker in Wyoming asks about a nonresident applicant provides home-state evidence. Which answer follows Wyoming law?
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