Section 1450.510  Managing Broker Examination

a)         Each applicant for a managing broker license shall submit an application for examination as determined by the Division or its designated testing service, including:

1)         Certification that the applicant is at least 20 years of age;

2)         Certification of successful completion of a four-year course of study in high school or secondary school or an equivalent course of study;

3)         The fee required by Section 1450.130; and

4)         Proof of one of the following:

A)        Currently admitted to practice law by the Supreme Court of Illinois; or

B)        Completion of a total of 165 credit hours of instruction in real estate courses approved by the Division.

b)         If a person fails the examination four consecutive times, the person must repeat the pre-license education requirement set forth in Section 5-28 of the Act prior to taking the examination again.

c)         As set forth in Section 5-35(c) of the Act, the 2-year time period after the completion of pre-license education during which that education will be accepted applies to approved pre-license education.

(Source:  Amended at 45 Ill. Reg. 2851, effective February 23, 2021)