KY REAL ESTATE EXAM WITH 100 COMPLETE QUESTION AND 100% COMPLETE ANSWERS/ESTUDY
LATEST,ALL ANSWERED
1. What happens with a Judicial foreclosure?
A) The property is returned to the borrower
B) The mortgaged property is sold under the supervision of a court
C) The lender forgives the debt
D) The borrower is given more time to pay
CORRECT ANSWER:
B) The mortgaged property is sold under the supervision of a court
2. Broker Dean realizes he has relocation buyers. What is something he should focus on
with these buyers?
A) Finding a property with low taxes
B) Finding a property with good resale value
C) Finding a property near schools
D) Finding a property with high rental income
CORRECT ANSWER:
B) Finding a property with good resale value
3. Real estate licensees should know enough about building ordinances to be able to...
A) Provide financial advice
B) Alert clients of potential problems in a home
C) Handle mortgage applications
D) Assist with interior design
CORRECT ANSWER:
B) Alert clients of potential problems in a home
4. If an industrial property is described as "special-purpose," it is...
A) Suitable for multiple uses
B) Unsuitable for many uses and processes
C) A good investment opportunity
D) Highly flexible in use
CORRECT ANSWER:
B) Unsuitable for many uses and processes
5. During the final walk-through, a buyer sees that the seller did not remove a downed tree.
What is the best way of handling this?
A) Ignore it
B) At the closing, the buyer could ask for a credit from the seller to remove the downed
tree.
, KY REAL ESTATE EXAM WITH 100 COMPLETE QUESTION AND 100% COMPLETE ANSWERS/ESTUDY
LATEST,ALL ANSWERED
C) Demand immediate removal before closing
D) Ask for a lower purchase price
CORRECT ANSWER:
B) At the closing, the buyer could ask for a credit from the seller to remove the downed
tree.
6. What is the main purpose of the Kentucky Real Estate Commission?
A) To mediate disputes
B) To put into effect and make known the administrative regulations to effectively carry
out and enforce the provisions of the Kentucky statutes governing real estate.
C) To promote real estate sales
D) To offer training for agents
CORRECT ANSWER:
B) To put into effect and make known the administrative regulations to effectively carry
out and enforce the provisions of the Kentucky statutes governing real estate.
7. Who must a principal broker supervise in a real estate office?
A) Only the sales associates
B) All licensees affiliated to the principal broker and all other unlicensed employees at that
office.
C) Just the unlicensed employees
D) Only the office manager
CORRECT ANSWER:
B) All licensees affiliated to the principal broker and all other unlicensed employees at that
office.
8. Broker Hannah just received a $5,000 escrow money deposit. How long does she have to
deposit it under Kentucky law?
A) 24 hours
B) Without unreasonable delay
C) Within one week
D) By the end of the month
CORRECT ANSWER:
B) Without unreasonable delay
9. What type of insurance is mandatory for all active licensees?
A) Homeowners insurance
B) Errors and omissions insurance
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