Illinois Real Estate Exam
Illinois Real Estate Exam Information
On the exam there is a total of 140 questions pertaining to the topics listed below.
Cost of the exam = $ 46
Time allowed for the exam = 3 1/2 hrs.
Exam breakdown by topic
- Agency Relationships and Contracts – 28 questions
- Real Property Ownership/Interest – 14 questions
- Finance – 15 questions
- Real Property – 14 questions
- Marketing Regulations (purchase and rental) – 8 questions
- Property Management – 8 questions
- Real Estate Calculations – 13 questions
Passing score on the exam is 75% on each portion of the examination (state and national). After you have completed the exam, you will be instructed to report to your testing supervisor to receive your score report. When you pass you will receive a score report / licensure application, an applicant sponsor card 45-day permit and instructions for applying for a license. If you do not pass the exam, you will receive a diagnostic score report showing your percentage on the examination. If you pass one portion of the exam you will need to wait until the next day or later to be rescheduled for the failed portion. Candidates who pass only one portion must retake and pass the other portion within one year of passing the first portion. Failure to do so will result in having to take the entire examination again.
Iowa Real Estate Exam
Iowa Real Estate Exam Information
The exam is broken into two parts: A National portion with 80 questions needing 56 correct to pass (70%), and a State portion with 40 questions needing 28 correct to pass (70%). Once you pass both portions of the exam a pass certificate is issued, if you do not pass one or both portions then you retake the portion you did not pass.
Cost of the exam = $101 (price of exam remains the same if you only pass one portion and not both)
Time allowed for the exam = 120 minutes (National Portion) & 60 minutes (State Portion)
Exam breakdown by topic
National Portion Salesperson / Broker:
- Property Ownership – 6 / 5 questions (6 questions for Salesperson exam / 5 questions for Broker exam)
- Land Use Controls & Regulations – 5 questions
- Valuation and Market Analysis – 8 / 7 questions
- Financing – 7 questions
- Laws of Agency – 10 / 11 questions
- Mandated Disclosures – 7 / 8 questions
- Contracts – 10 questions
- Transfer of Property – 4 / 6 questions
- Practice of Real Estate – 12 / 11 questions
- Mathematics – 7 / 5 questions
- Specialty Areas – 4 / 5 questions
- Iowa Law – 40 questions
Passing score on the exam is 70% or better on both portions. When you complete the exam your score will be reported to you with a pass/fail indication immediately on your computer monitor. This score is also broken down by section/topic telling you how well you did in each area. PSI, the testing center, will give you a printed score report before you leave. Your scores are kept confidentially by the testing center and the Iowa Real Estate Commission. Upon receiving your pass notice/report, you have 6 months from that date of the report to make application to the state for licensure. If you do not pass the exam, you must retake the examination and pay the cost of the exam each time before you can be licensed.