What is the name given to the Illinois license laws under which real estate brokers practice?
Question & Answer
Review the question and all answer choices
Real Estate License Act of 1995
There was no Illinois Real Estate License Act of 1995; this date is a fabrication designed to test whether candidates know the correct year of the governing statute, which is 2000.
Real Estate License Act of 2000
Real Estate Administration Act
The 'Real Estate Administration Act' is not the name of any Illinois statute governing broker licensure; this fictional title may sound plausible but does not correspond to any real Illinois law.
READB Act
The 'READB Act' is not a real Illinois statute; acronym-based answer choices like this are common distractors on licensing exams designed to catch students who are guessing rather than recalling specific statutory names.
Why is this correct?
The Real Estate License Act of 2000 (225 ILCS 454) is the correct and current governing statute for real estate broker licensure in Illinois, having replaced the prior Real Estate License Act of 1983. This act, administered by the IDFPR, defines who must be licensed, the educational prerequisites for licensure, the duties of managing brokers, and the grounds for disciplinary action. Illinois exam candidates must know this title precisely because the state exam tests familiarity with the specific statutory framework under which licensees operate.
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