Illinois License Law
What is the 'two-year active experience' requirement for Illinois managing broker license applicants?
AApplicants must have been licensed for 2 years regardless of activity level
BApplicants must have actively practiced real estate as a broker for at least 2 of the preceding 3 years before applying for the managing broker license✓ Correct
CApplicants must have managed at least 2 properties in the previous year
DApplicants must have worked for 2 different brokerages in the preceding 5 years
Explanation
To qualify for an Illinois managing broker license, an applicant must have actively practiced real estate as a licensed broker for at least 2 of the 3 years immediately preceding the application. 'Active practice' means the licensee has been affiliated with a sponsoring managing broker and has been engaged in real estate activities. Merely holding an inactive license does not count toward the experience requirement.
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