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KY 96-Hour Salesperson Pre-License State Exams Practice Questions and Answers $12.49   Add to cart

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KY 96-Hour Salesperson Pre-License State Exams Practice Questions and Answers

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KY 96-Hour Salesperson Pre-License State Exams Practice Questions and Answers Which of the following benefits does errors and omissions insurance provide Kentucky licensees? - ANSWER-Provides coverage for licensees who make inadvertent mistakes You're representing a buyer, Stan, in a Kentucky r...

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  • November 4, 2024
  • 13
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Real Estate
  • Real Estate
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KaylinHoffman
Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024




KY 96-Hour Salesperson Pre-License State

Exams Practice Questions and Answers


Which of the following benefits does errors and omissions insurance provide Kentucky licensees? -

ANSWER✔✔-Provides coverage for licensees who make inadvertent mistakes


You're representing a buyer, Stan, in a Kentucky residential transaction. Stan is interested in a property

on a quiet residential street, so you ask the listing agent for a copy of the Seller's Disclosure of Property

Conditions form. The agent tells you that the seller refused to complete the form. What should you do? -

ANSWER✔✔-Advise Stan that if he wants to make an offer an inspection contingency is a must.


The annual deadline to pay the errors and omissions insurance premium obtained through the Kentucky

Real Estate Commission is ______. - ANSWER✔✔-11:50 p.m., March 31


If a licensee fails to renew her license, when will the Kentucky Real Estate Commission cancel it? -

ANSWER✔✔-April 1


Which of the following statements about Kentucky escrow accounts is true? - ANSWER✔✔-Every

principal broker is required to have an escrow account.


Which of the following statements about the term of the KREC Exclusive Right to Sell Agency Contract is

true? - ANSWER✔✔-The agreement must have a specified start and end date.


Licensee Benjamin has just started working for EZ Money Realty. He lost a lot of clients when he

switched firms, so he decides to call them and promise them a lower commission rate if they break their

contracts with his former broker and sign on with him. What Kentucky license law has he violated? -

Copyright ©Stuvia International BV 2010-2024 Page 1/13

, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024


ANSWER✔✔-Ben attempted to infringe upon other licensees' exclusive agreements to sell, exchange,

lease, or rent property.


Licensee Sherry only likes to work with Caucasian clients and refuses to work with any people of color.

What Kentucky license law has she violated? - ANSWER✔✔-Sherry violated the Fair Housing Act.


Marcella has been performing brokerage services in Hopkinsville without a license. What's the term for

this in Kentucky? - ANSWER✔✔-Unlicensed brokerage


In Kentucky, sales associate applicants must apply for licensure within ______ of passing their real estate

pre-licensing course. - ANSWER✔✔-60 days


Timothy owns a real estate investment consulting firm in Bowling Green. Neither he nor any of his staff is

licensed. Which of the following firm names is most appropriate so that Timothy avoids implying that his

firm is licensed? - ANSWER✔✔-"Investor's Solutions"


Damien's been notified that his escrow accounts are being audited. What entity is responsible for

performing the audit to ensure his firm's in compliance with Kentucky's escrow account license laws? -

ANSWER✔✔-The Kentucky Real Estate Commission


Which of the following is the Kentucky Real Estate Commission empowered to do? - ANSWER✔✔-

Investigate complaints against licensees and irregularities of the law.


Which of these Kentucky brokers is NOT required to maintain a place of business in the state? -

ANSWER✔✔-Lynn, who's an out-of-state resident and maintains her place of business in that state


You're a Kentucky licensee representing a buyer who's making an offer on a two-bedroom condo. You

ask the seller's agent for a copy of the ______. - ANSWER✔✔-Condominium Seller's Certificate




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