Under the Illinois Real Estate License Act, which of the following falls OUTSIDE the statutory supervisory responsibilities of a managing broker?
Correct Answer
C) Reviewing and approving all advertising created by sponsored licensees before publication
Under 225 ILCS 454 and IDFPR rules, a managing broker's supervisory duties include record retention, licensee supervision, and fair housing compliance — but the Act does not require the managing broker to personally pre-approve every piece of advertising before publication. While the managing broker is responsible for ensuring an overall compliance framework exists, imposing a blanket pre-approval requirement on all advertising is not among the enumerated statutory duties.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
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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