Illinois Leasing Agent Practice Exam

In what situation may a leasing agent license be revoked?

1. Only if the agent is under 21

2. If the agent fails to renew on time

3. If the agent has disciplinary actions against them

4. There are no situations that permit revocation

The correct answer is: If the agent has disciplinary actions against them

A leasing agent license may be revoked if the agent has disciplinary actions taken against them. This can occur due to a variety of reasons, such as unethical behavior, misconduct, violations of real estate laws, or failure to adhere to professional standards that govern leasing practices. Disciplinary actions often involve investigations and findings that indicate the agent has acted in a way that is detrimental to the integrity of the leasing profession, possibly harming clients or the industry as a whole. The purpose of having such regulations is to maintain trust and accountability within the field, ensuring that only those who demonstrate integrity and professionalism can operate as leasing agents. The other options do not accurately reflect the circumstances under which a license can be revoked. Being under 21 does not automatically disqualify an agent from holding a license, and while failing to renew a license on time may lead to penalties, it typically would not result in revocation. Saying there are no situations that permit revocation is incorrect, as legal standards exist to protect the public and the profession by revoking licenses of those who do not adhere to required standards.