Illinois License Law
What is the 'sponsor broker' requirement for new Illinois real estate broker licensees?
ANew brokers must pay a fee to a sponsor broker for five years
BNew brokers must work under the supervision of a managing broker sponsor who is responsible for their activities✓ Correct
CNew brokers must complete their first 10 transactions under direct supervision only
DNew brokers must obtain sponsorship from the Illinois Association of Realtors
Explanation
In Illinois, a newly licensed broker must be affiliated with and work under the supervision of a licensed managing broker (their 'sponsor broker'). The managing broker is responsible for supervising and overseeing the broker's real estate activities.
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Key Terms to Know
Math Concepts
State-Specific Concepts
Broker Supervision
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