The Chicago Real Estate School is here to answer your questions about getting a Real Estate License! Here are some sample questions from our Chapter Quizzes…

1. Which of the following best defines the “law of agency”?
(a) The selling of another’s property by an authorized agent
(b) The rules of law that apply to the responsibilities of a person who acts for another
(c) The principles that govern one’s conduct in business
(d) The rules and regulations of the state’s licensing agency

2. Upon discovering a latent defect in the property, the licensee should discuss the problem with the seller and then:
(a) Notify the seller that the defect must be repaired
(b) Arrange for the repairs himself or herself
(c) Inform any prospective buyers of the defect
(d) Contact the city building inspector about the defect

3. An owner of a house wants to carpet 2 rooms. Each room measures 15’ x 18’. The cost of the carpeting is $21 per square yard. How much did the carpeting cost?
(a) $810
(b) $1,260
(c) $2,280
(d) $3,780

Scroll down to see the answers…

1. Which of the following best defines the “law of agency”?
   1. The selling of another’s property by an authorized agent
   2. (CORRECT ANSWER) The rules of law that apply to the responsibilities of a person who acts for another
   3. The principles that govern one’s conduct in business
   4. The rules and regulations of the state’s licensing agency

2. Upon discovering a latent defect in the property, the licensee should discuss the problem with the seller and then:
   1. Notify the seller that the defect must be repaired
   2. Arrange for the repairs himself or herself
   3. (CORRECT ANSWER) Inform any prospective buyers of the defect
   4. Contact the city building inspector about the defect

3. An owner of a house wants to carpet 2 rooms. Each room measures 15’ x 18’. The cost of the carpeting is $21 per square yard. How much did the carpeting cost?
   1. $810
   2. (CORRECT ANSWER) $1,260
   3. $2,280
   4. $3,780

Did you miss that one? 15′ X 18′ = 270 sq ft. Multiply that by 2 rooms, and you’ll have 540 sq ft. Here’s the trick: in a square yard, there are 9 sq ft (3′ X 3′ = 9 sq ft). So you’d divide 540 sq ft by 9 to get 60 sq yards. Multiply that by $21 to get $1,260 for the cost of the carpeting.

As you can see, the questions require a bit of learning, but they’re manageable. If you put in the effort, you can very likely succeed, as do most of our students!

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