Free distinction review sheet
Catch the word swap before it becomes the wrong answer
Many missed questions start with a rule the student actually knows. The actor changes, the timing moves, the scope narrows, or the formula uses a different base.
Last updated: August 1, 2026
The resource first
Direct answer: The common-traps PDF compares frequently confused national concepts, math setups, and current Illinois rules without reproducing secure examination items. It covers real versus personal property, fixtures and trade fixtures, easements and licenses, encroachments, ownership, contract status, assignment and novation, deed warranties, appraisal and CMA, NOI and cash flow, LTV and down payment, points and commission, prorations, broker and former salesperson terminology, passing versus practice authority, endorsement versus closed reciprocity, post-license education versus CE, designated versus dual agency, seller forms versus broker duties, advertising, and unlicensed assistants. A five-part screen asks the student to mark the actor, relationship, verb, timing, and scope before selecting an answer.
Download the common traps sheet
3 pages, comparison tables, final answer check, no email required
Question screen
Actor, relationship, verb, timing, scope
Math screen
Base, unit, direction, rounding
Illinois update
New reciprocity issuance closed Jan. 1, 2026
Content boundary
No secure exam questions
Use distinctions, not isolated definitions
Knowing that an easement is a nonpossessory interest is useful. Knowing that a license is revocable permission and an encroachment is an unauthorized physical intrusion makes the rule usable when three answer choices share property-rights language.
The same comparison method separates tenancy in common from joint tenancy, assignment from novation, general from special warranty deeds, appraisal from CMA, and void from voidable or unenforceable contracts.
Read math for its base and sequence
Points use the loan amount, commission uses the agreed transaction base, LTV divides the loan by value, and standard capitalization uses NOI before debt service. A familiar percentage attached to the wrong base produces a plausible distractor.
Proration questions need two decisions. Calculate the amount using the stated day convention and chargeable days, then assign debit and credit from responsibility and advance-or-arrears timing. Reversing that sequence invites an avoidable sign error.
- EXCEPT asks for the one choice that does not fit.
- BEST asks for the most complete lawful response.
- FIRST tests sequence rather than ultimate remedy.
- MOST LIKELY still needs support in the facts.
Keep Illinois rules in their current lane
Illinois uses broker as the entry license, while salesperson licensing ended. A passing score does not authorize practice, and a brokerage welcome email does not replace active status and registered sponsorship. Current endorsement is not the old reciprocal-state route, which closed to new issuance January 1, 2026.
A new broker's 45-hour post-license requirement differs from ordinary 12-hour CE. Designated agency differs from dual agency. A seller disclosure-form exemption does not automatically erase a licensee's separate duties. A team name does not replace the sponsoring broker in compliant advertising.
Quick questions
Does this sheet contain actual PSI questions?
No. It uses the public outline and current law to teach distinctions without reproducing or claiming access to secure examination content.
What should I mark in a long question?
Mark the actor, relationship, operative verb, timing word, and scope or exception before evaluating the choices.
Is every in-house transaction dual agency?
No. Designated agency can assign different licensees within one brokerage to adverse clients. Dual agency applies when the same licensee represents adverse clients and requires informed written consent.
Can 12 hours of CE replace new-broker post-license education?
No. A qualifying first-term broker must complete the 45-hour post-license curriculum by the applicable deadline.
Why do familiar math answers go wrong?
The calculation often uses the wrong base, mismatched units, premature rounding, or a debit and credit assigned before responsibility is determined.
Primary sources and review status
- PSI Illinois Real Estate Candidate Information Bulletin, June 24, 2026
- 225 ILCS 454, Illinois Real Estate License Act of 2000
- 68 Ill. Adm. Code Part 1450
Checked through August 1, 2026. The downloadable resource also displays its source and review date. The current official source controls if a rule, outline, or procedure changes.