All new licensees who require managerial privileges are required to earn a Managing Broker license.
To qualify for an Illinois Real Estate Managing Broker's license in the State of Illinois:
This category of license for brokers who will manage and sponsor themselves and/or other licensees changed in 2011 from Broker to Managing Broker.
The Managing Broker license is only available to applicants who held a real estate salesperson or broker license for two out of the last three years. If you have a broker license and meet the two out of three year requirement, it is assumed you have completed the 120 Broker pre-license requirement and you will only be required to take an additional 45 hours to include a 30-hour course, Managing Broker Pre-license Topics and a 15-hour Managing Broker Pre-license Applied Management and Supervision Interactive course.
Applicants who have never held a license will first have to complete the 90 hour Broker license requirement and the 30 hours of post license education and follow with the 45-hour Managing Broker requirement. You would not be able to apply for your Managing Broker license until you have met the two out of three year requirement.
The State of Illinois requires a proctored exam for each course. Students may take the proctored exams at the approved proctor location of their choice. After completing the course, the student should contact Illinois REALTORS® at 217-529-2600 to have the exam sent to their preferred proctor location. Proctor locations (pdf) 
The state licensure exam is administered by Applied Measurement Professionals (AMP) www.goamp.com . Once your completion dates are entered you may register for your state exam. (Click on "Candidates" and then select the real estate examination you are prepared to complete.) You must first be registered as a student before you can take the state exam. To register with AMP, go to the VIP Portal tab and select "student user." From there you will be able to register as a new student and obtain your AMP student ID number. When you have completed your course, Illinois REALTORS® will enter your completion date enabling you to register for the state exam.
Apply for your license and pay the appropriate fee for the license to the Illinois Department of Financial and Professional Regulation .
Not all real estate brokers are REALTORS®. The Code of Ethics of the National Association of REALTORS®  is universally recognized as the measure of professionalism in real estate. Membership in the REALTOR® organization is part of a three-way agreement with the local REALTOR® Associations, the Illinois REALTORS® and the National Association of REALTORS®. The REALTOR® symbol is your key to the wealth of resources, products and services available to you as a member of the REALTOR® organization. Membership begins at the local level. To find out how you can join, contact your local association of REALTORS®. 
Managing Broker licensees must successfully complete 12 hours of CE (6 core & 6 elective)
on or before 4/30/17. The 12 hours should include one (1) Core A and one (1) Core B and two electives.
Order study guides, home study and exam prep materials from the Illinois REALTOR® Store , 1-800-529-2696
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The Illinois REALTORS® Licensing & Training Center is your trusted source for state-approved real estate licensing and continuing education including state-of-the-art, convenient interactive course webinars.