Kentucky Real Estate Exam, Mock Test 1, Final Exam Practice, Exam Prep, Kentucky Portion, EXAM QUESTIONS, Practice Exam, Practice Exam #1, Kentucky State, Practice Exam, License Exam, Practice Exam 3, KY Real Estate Law, KY Real Estate Exam, Practice Final, Sales Associate Exam, PRACTICE TEST, Law...
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Accretion - Answer Increase of land by deposit of sand or soil washed up naturally from a river, lake or sea ADA Tenant - Answer Tenant with disability. Must accommodate for tenants/residents with disabilities. Priority is to get party to the door. Can make changes, must be giving parking if avai...
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Add to cartAccretion - Answer Increase of land by deposit of sand or soil washed up naturally from a river, lake or sea ADA Tenant - Answer Tenant with disability. Must accommodate for tenants/residents with disabilities. Priority is to get party to the door. Can make changes, must be giving parking if avai...
If a broker's branch office is 75 miles from his main office, the person managing this branch office must: - Answer Have been licensed for 2 years averaging 20 hours per week in the business. Which of the following is NOT true regarding a sale-leaseback? - Answer The ownership of the property ne...
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Add to cartIf a broker's branch office is 75 miles from his main office, the person managing this branch office must: - Answer Have been licensed for 2 years averaging 20 hours per week in the business. Which of the following is NOT true regarding a sale-leaseback? - Answer The ownership of the property ne...
what happens with a Judicial foreclosure? - Answer the mortgaged property is sold under the supervision of a court broker Dean realizes he has relocation buyers. What is something he should focus on with these buyers? - Answer finding a property with good resale value real estate licensees sho...
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Add to cartwhat happens with a Judicial foreclosure? - Answer the mortgaged property is sold under the supervision of a court broker Dean realizes he has relocation buyers. What is something he should focus on with these buyers? - Answer finding a property with good resale value real estate licensees sho...
What do Datums and Benchmarks measure? - Answer Elevation Joint Tenancy - Answer The joint ownership of property by two or more co-owners in which each co-owner owns an undivided portion of the property. On the death of one of the joint tenants, his or her interest automatically passes to the sur...
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Add to cartWhat do Datums and Benchmarks measure? - Answer Elevation Joint Tenancy - Answer The joint ownership of property by two or more co-owners in which each co-owner owns an undivided portion of the property. On the death of one of the joint tenants, his or her interest automatically passes to the sur...
How often is continuing education required for Kentucky real estate salespersons? - Answer Every year. An individual obtaining their first, original Kentucky license is exempt for the first two calendar years. When a licensee pays back the Recovery Fund: - Answer He/she must pay back all the re...
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Add to cartHow often is continuing education required for Kentucky real estate salespersons? - Answer Every year. An individual obtaining their first, original Kentucky license is exempt for the first two calendar years. When a licensee pays back the Recovery Fund: - Answer He/she must pay back all the re...
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" Burt is a property manager in Kentucky. He's got his hands full with multiple clients and multiple properties for each. He's...
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Add to carthis 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" Burt is a property manager in Kentucky. He's got his hands full with multiple clients and multiple properties for each. He's...
The Kentucky Real Estate Commission determined that a buyer was damaged by the fraudulent action of a licensee in the amount of $50,000. If the responsible licensee does not pay the claim, the Commission may pay out from the Real Estate Education, Research, and Recovery Fund a MAXIMUM amount of: - A...
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Add to cartThe Kentucky Real Estate Commission determined that a buyer was damaged by the fraudulent action of a licensee in the amount of $50,000. If the responsible licensee does not pay the claim, the Commission may pay out from the Real Estate Education, Research, and Recovery Fund a MAXIMUM amount of: - A...
On a settlement statement the buyer can expect to see entries for - Answer property and transfer taxes Which of the following terms is NOT associated with a legal life estate? Dower, Curtesy, Community property, Homestead - Answer Community property Which of the following is an example of a co...
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Add to cartOn a settlement statement the buyer can expect to see entries for - Answer property and transfer taxes Which of the following terms is NOT associated with a legal life estate? Dower, Curtesy, Community property, Homestead - Answer Community property Which of the following is an example of a co...
Administrative Hearing - Answer The Hearing conducted by the kentucky real estate commission in its enforcement of the license law to determine if a licensee has violated the license law Commissioners - Answer These are the five people appointed by the governor to manage the kentucky Real Estate ...
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Add to cartAdministrative Hearing - Answer The Hearing conducted by the kentucky real estate commission in its enforcement of the license law to determine if a licensee has violated the license law Commissioners - Answer These are the five people appointed by the governor to manage the kentucky Real Estate ...
There can be no more than _____ members of any political party serving on the Commission at one time. - Answer four A rebate could be: - a TV -A gift certificate - a return of paid commissions -none of the above - Answer a return of paid commissions The Commission has the ability to conduc...
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Add to cartThere can be no more than _____ members of any political party serving on the Commission at one time. - Answer four A rebate could be: - a TV -A gift certificate - a return of paid commissions -none of the above - Answer a return of paid commissions The Commission has the ability to conduc...
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...
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Add to cartwhich 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...
Under Kentucky law, which of the following would not be included in an offer to purchase? A. The purchase price, the amount of the contract deposit and who is to hold the deposit B. Date and time when the offer or counteroffer expires C. The agent who prepared the offer and the commission he/she wi...
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Add to cartUnder Kentucky law, which of the following would not be included in an offer to purchase? A. The purchase price, the amount of the contract deposit and who is to hold the deposit B. Date and time when the offer or counteroffer expires C. The agent who prepared the offer and the commission he/she wi...
An action for recovery from the Kentucky Real Estate Education, Research, and Recovery Fund MUST be commenced within how many years from actual knowledge of the cause of action or the time when circumstances would reasonably have put the aggrieved party on notice of the cause of action? - Answer 2 Y...
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Add to cartAn action for recovery from the Kentucky Real Estate Education, Research, and Recovery Fund MUST be commenced within how many years from actual knowledge of the cause of action or the time when circumstances would reasonably have put the aggrieved party on notice of the cause of action? - Answer 2 Y...
Beginning - Answer Advertisements that include an audiovisual presentation need to include an audible announcement or written display of the required content at the ____________ of the advertisement Inactive License - Answer "Escrow" was replaced by this term when describing the status of a lic...
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Add to cartBeginning - Answer Advertisements that include an audiovisual presentation need to include an audible announcement or written display of the required content at the ____________ of the advertisement Inactive License - Answer "Escrow" was replaced by this term when describing the status of a lic...
condominium - Answer Severalty ownership of air rights combined with an undivided interest in the common areas of real estate would MOST LIKELY describe a on probation - Answer A licensee could be active in the real estate business if his/her license is Agent Kenzie has terminated her relation...
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Add to cartcondominium - Answer Severalty ownership of air rights combined with an undivided interest in the common areas of real estate would MOST LIKELY describe a on probation - Answer A licensee could be active in the real estate business if his/her license is Agent Kenzie has terminated her relation...
What are all the KREC statute categories? - Answer 1. Licensing, education, and testing requirements 2. Advertising 3. Consumer and administrative complaints; discipline; administrative hearings 4. Definitions 5. Education provider requirements 6. Errors and omissions insurance 7. Standards of...
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Add to cartWhat are all the KREC statute categories? - Answer 1. Licensing, education, and testing requirements 2. Advertising 3. Consumer and administrative complaints; discipline; administrative hearings 4. Definitions 5. Education provider requirements 6. Errors and omissions insurance 7. Standards of...
HOW MUCH IS THE ACTIVATION FEE PAID TO THE KY REAL ESTATE COMISSION FOR OPENING A BROKERAGE? A. $10 b. $50 C $100 d $75 - Answer A. THIS FORM SETS FORTH THE SPECIFIC AGENCY RELATIONSHIP PROPOSED BETWEEN THE CLIENT AND PRINCIPAL BROKER OF THE REAL ESTATE BROKERAGE COMPANY: A. AGENCY CONSENT ...
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Add to cartHOW MUCH IS THE ACTIVATION FEE PAID TO THE KY REAL ESTATE COMISSION FOR OPENING A BROKERAGE? A. $10 b. $50 C $100 d $75 - Answer A. THIS FORM SETS FORTH THE SPECIFIC AGENCY RELATIONSHIP PROPOSED BETWEEN THE CLIENT AND PRINCIPAL BROKER OF THE REAL ESTATE BROKERAGE COMPANY: A. AGENCY CONSENT ...
When must license applicants apply for their license? - Answer 60 days after examination date. Errors and Omissions Insurance - Answer An agent is covered up to $100,000 for single claims and $1,000,000 for annual aggregate(multiple) claims. Does not cover fraud, criminal acts, libel, slander, s...
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Add to cartWhen must license applicants apply for their license? - Answer 60 days after examination date. Errors and Omissions Insurance - Answer An agent is covered up to $100,000 for single claims and $1,000,000 for annual aggregate(multiple) claims. Does not cover fraud, criminal acts, libel, slander, s...
How often does the Kentucky Real Estate Commission meet? - Answer monthly Reliction: - Answer When water gradually recedes and uncovers new land Accrued expenses - Answer items the seller owes on closing day but that will eventually be paid by the buyer (unpaid current property taxes, for exam...
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Add to cartHow often does the Kentucky Real Estate Commission meet? - Answer monthly Reliction: - Answer When water gradually recedes and uncovers new land Accrued expenses - Answer items the seller owes on closing day but that will eventually be paid by the buyer (unpaid current property taxes, for exam...
Jenna's firm in Lexington issues a check to First In Line Title Company because it referred a buyer to Jenna and subsequently closed the transaction. The buyer approved the payments. This is an example of _____________. - Answer An Illegal Kickback Monty is advertising a number of listings in th...
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Add to cartJenna's firm in Lexington issues a check to First In Line Title Company because it referred a buyer to Jenna and subsequently closed the transaction. The buyer approved the payments. This is an example of _____________. - Answer An Illegal Kickback Monty is advertising a number of listings in th...
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