unit 14 real estate exam

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Last updated 3:41 AM on 8/11/26
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6 Terms

1
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What is IDFPR?

The Illinois Department of Financial and Professional Regulation, the key governing authority for Illinois real estate activity.

2
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What division of IDFPR regulates real estate?

The Division of Real Estate.

3
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What law governs real estate licensing in Illinois?

The Real Estate License Act of 2000.

4
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Who administers and enforces the Real Estate License Act of 2000?

IDFPR through the Division of Real Estate.

5
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Why must Illinois licensees understand the Real Estate License Act and its rules?

To ensure their activities are ethical, legal, and responsible.

6
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What is the statutory citation for the Real Estate License Act of 2000?

225 ILCS 454.