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Kentucky Real Estate License Exam 2024 Questions and Correct Answers Rated A+
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Kentucky Real Estate License Exam 2024 Questions and Correct Answers Rated A+
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Kentucky Real Estate License Exam2024 Questions and Correct Answers
Rated A+
Which of the following statements is true about the kentucky statute of
frauds and the sale of real estate? -answer-all essential terms of the
contract must be in writing
Which of the following statements is true regarding kentucky real
estate brokerages? -answer-the principal broker may choose to use
designated agency, dual agency, without designated agency or no
dual agency at the brokerage
If the licensee can't pay or refuses to pay an aggrieved party after
being found guilty of fraud in kentucky, who pays the aggrieved party?
-answer-krec
In kentucky, a revoked license may only be reinstated after. Yrs and
with krec's approval -answer-five
The kentucky real estate commission has the power to escrow
accounts to verify proper handling of earnest money -answer-examine
and audit
What extension does krec grant for failure to meet the post licensing
requirements? -answer-no extension
In kentucky real estate commission is empowered to do all things
necessary under cht 324 of the kentucky revised statutes to. Public's
,interest by regulating, testing, and licensing kentucky real estate
professionals. -answer-protect
Which of the following statements is true of kentucky sales
associates? -answer-with krec pemission, they may manage a branch
office within a 100-mile radius of the main office if they have two years
of recent real estate experience
The krec exclusive rights to sell agency contract is a legally binding
contract once it's signed by -answer-the seller, principal broker, and
authorized agent
Krec cancelled holly's license because she didn't complete the 48-
hour post-licensing education requirement. What does this mean for
her? -answer-she'll need to start all over again by meeting the pre-
licensing requirements, including completing all pre-licensing course,
passing the state exam, and paying the required application fees.
After a kentucky seller client has completed and signed the seller's
disclosure of property conditions form, who keeps the original? -
answer-listing agent's broker
Licensees who fail to complete the post-license education
requirements will have their license automatically _____________. -
answer-cancelled
Which of the following compensations may a kentucky broker pay to a
tennessee license? -answer-a referral fee and/or a commission
The maximum recovery fund compensation that may be granted on
behalf of multiple aggrieved parties against one licensee i kentucky is
_________. -answer-$50,000
, Tillie has a mortgage contingency in her kentucky sales contract with
the seller. Based on this information, which of the following statements
is true? -answer-if tillie can't meet the terms of the agreement due to
the inability to obtain a loan, the agreement is terminated.
As a kentucky listing agent, when are you required to deliver the
completed seller's disclosure of property conditions form to a
prospective buyer? -answer-upon the prospective buyer's request
Based on what you know about kentucky statutes of frauds and real
estate sales contracts, which of the following statements is true? -
answer-oral contracts for the sale of real estate are prohibited
Kentucky's top notch realty is opening a branch office five miles from
the main location. Which of the following individuals may seek krec's
permission to manage the branch location? -answer-jason, a sales
associate who's worked full-time for the firm for the past two years.
Your kentucky brokerage firm's administrative assistant wants ti make
room for newer files by moving some older files to the basement
storage room you share with the maintenance staff. What should the
principal broker tell this assistant? -answer-"let's explore converting
those files to electronic format and then destroy the paper copies."
What does "placing a license in inactive status" mean? -answer-
returning it to the kentucky real estate commission
If a kentucky licensee enters into a delinquency plan for failure to
complete ce requirements, by what date must the licensee complete
the ce requirements -answer-june 15
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