Illinois Leasing Agent Practice Exam

Where should a leasing agent's original, active license be kept?

1. At their residential address

2. In a safe deposit box

3. The sponsoring broker's office

4. With the agent at all times

The correct answer is: The sponsoring broker's office

The correct answer is that a leasing agent's original, active license should be kept at the sponsoring broker's office. This is important because the sponsoring broker is responsible for overseeing the activities of the leasing agents they employ. Keeping the license at the broker's office ensures that it is accessible for verification purposes and complies with regulatory requirements. By maintaining the license at the sponsoring broker's office, it helps streamline operations and ensures that all agents can operate under the governing authority of the broker. It also facilitates easier access for any inspections or audits by regulatory agencies. Having the license at a residential address or in a safe deposit box would complicate verification and compliance processes. Moreover, carrying the license at all times may not be practical and could lead to loss or damage, which would affect the agent's ability to conduct business efficiently.