The real estate exam is administered through PSI and applicants can schedule an exam online by visiting the following website. Applicants will need to create an account in order to schedule the exam.

Current processing time: The processing time for licenses is approximately 10 days.

Leasing Agent Exam: 

• Applicants must be at least 18 years of age and:
• Must provide proof of completion of 15 hours of Pre-License Education or 90 hours of Broker Pre-License Education
• Must have a high school diploma or equivalent
• Must complete and pass the leasing agent examination
• Must pay exam fee ($37) and license fee ($75)

Broker Exam:

• Applicants must be at least 18 years of age and:
• Must provide proof of having completed 75 hours of Prelicense Education
• Must have a high school diploma or equivalent
• Must successfully pass the real estate broker examination
• Must be sponsored by a managing broker in order to practice
• Must pay exam fee: ($58) and license fee ($125)

Managing Broker Exam:

• Applicants must be at least 20 years of age and:
• Must provide proof of having completed 45 hours of Prelicense Education
• Must have a high school diploma or equivalent
• Must hold an active, valid Illinois real estate broker license
• Must have had an active real estate license for 2 of the past 3 years
• Must successfully pass the real estate managing broker examination
• Must pay exam fee: ($58) and license fee ($150)

Broker Examination: The exam consists of 100 national questions and 40 state-specific questions. Candidates have 4 hours to complete the exam.

Managing Broker Examination: The exam consists of 90 national questions and 40 state-specific questions. Candidates have 4 hours to complete the exam.

The exam will be administered by computer.

The exam is given at the following locations: Addison, Bloomington, Buffalo Grove, Carbondale, Carol Stream, Champaign, Chicago, Collinsville, Des Plaines, Elgin, Franklin Park, Galesburg, Glen Ellyn, Lake-in-the-Hills, Matteson, Midlothian, Mokena, Moline, Naperville, Park Ridge, Rockford, Schaumburg, Springfield, Urbana, West Chicago, and Westmont.

• Real Estate Candidate Information Booklet

1. National (General) Portion – 100 Questions

• Property Ownership
  
  • Real vs. personal property; fixtures
  • Estates in land (freehold, leasehold)
  • Rights and interests in real property
  • Forms of ownership (tenancy in common, joint tenancy, etc.)
• Land Use Controls and Regulations
  
  • Zoning, building codes, and other public controls
  • Private controls (deed restrictions, HOA covenants)
  • Environmental hazards and regulations (lead-based paint, etc.)
  • Governmental rights in land (eminent domain, taxation, etc.)
• Valuation and Market Analysis
  
  • Appraisal concepts (cost, sales comparison, income approaches)
  • Competitive Market Analyses (CMA)
  • Factors influencing value (economic, political, social)
• Financing
  
  • Types of loans (FHA, VA, conventional)
  • Mortgage instruments (mortgage, deed of trust, note)
  • Lending process (qualifying the buyer, credit laws)
  • Secondary mortgage market, loan types/terms
• General Principles of Agency
  
  • Creation and termination of agency
  • Fiduciary duties (confidentiality, loyalty, disclosure, etc.)
  • Types of agency relationships (seller, buyer, dual)
  • Responsibilities to clients vs. customers
• Property Disclosures
  
  • Material facts affecting property value
  • Federal disclosure requirements (lead-based paint, etc.)
  • Seller property condition disclosure
  • Liability for misrepresentation or non-disclosure
• Contracts
  
  • Essential elements (offer, acceptance, consideration)
  • Types of contracts (listing, purchase, lease, option)
  • Contract termination, breach, and remedies
  • Statute of frauds, enforceability
• Leasing and Property Management
  
  • Types of leases (gross, net, percentage)
  • Landlord-tenant relationships
  • Property manager duties
  • Lease provisions, eviction procedures
• Transfer of Title
  
  • Types of deeds (general warranty, special warranty, quitclaim)
  • Title search, title insurance
  • Closing procedures and documents
  • Recording, constructive vs. actual notice
• Practice of Real Estate
  
  • Fair housing and anti-discrimination laws
  • Advertising, anti-trust laws
  • Escrow and trust accounts
  • Ethical practices, unauthorized practice of law
• Real Estate Calculations
  
  • Math for prorations, commissions, net proceeds
  • Loan-to-value ratios, discount points, amortization
  • Closing cost calculations

2. Illinois (State) Portion – 40 Questions

• Illinois Real Estate License Act & Rules
  
  • License types (broker vs. managing broker)
  • Qualifications for licensure, continuing education requirements
  • License maintenance, renewal deadlines
  • Disciplinary actions, grounds for suspension/revocation
• Agency in Illinois
  
  • Agency relationships under Illinois law
  • Designated agency, dual agency requirements
  • Written disclosure forms and timing
  • Duties owed to clients vs. customers
• Illinois-Specific Transaction Requirements
  
  • Mandatory disclosures (Radon, Lead, Residential Real Property Disclosure Report)
  • Handling earnest money and escrow accounts
  • Advertising regulations (brokerage name, team names)
  • Timelines for contract execution and deposit of funds
• Brokerage Administration & Operation
  
  • Broker vs. managing broker responsibilities
  • Office policies, record-keeping requirements
  • Team structures, supervision, and licensing compliance
  • Advertising guidelines, signage, and internet marketing
• Fair Housing and Human Rights in Illinois
  
  • Additional protected classes under Illinois law
  • Illinois Human Rights Act specifics
  • Penalties for violations
  • Best practices for non-discriminatory advertising
• Real Estate Business Practices
  
  • Commission rules (division between brokers, handling disputes)
  • License law compliance (reporting convictions, background checks)
  • Proper disclosure of material facts
  • Handling multiple offers, presenting offers promptly
• Property Management in Illinois
  
  • Security deposit rules under Illinois law
  • Written management agreements
  • Escrow handling for rental property
  • Landlord-tenant obligations and legal processes
• Professional Conduct and Ethics
  
  • Standards set by the Illinois Real Estate License Act
  • Duties to clients, consumers, and other licensees
  • Prohibited conduct (misrepresentation, fraud, negligence)
  • Complaint procedures through IDFPR

Broker Examination: For the national portion of the exam, a passing score is 70 and higher. For the state portion of the exam, a passing score is 75 and higher.

Managing Broker: For both portions of the exam, a passing score is 75 and higher.

Candidates are required to bring 1 form of identification, which must match the name on the candidate's exam registration. This can be any of the following:

• State issued driver's license
• State issued ID card
• US government-issued passport
• Military ID
• US government-issued alien registration card
• Canadian government-issued ID
• Mexican government-issued ID

• Real Estate Candidate Information Booklet
• PSI Candidate Services
• Illinois Real Estate Booklet
• Illinois real estate exam guide