KY REAL ESTATE BUNDLED EXAMS 2023/24|ALL VERIFIED FOR ACCURACY|ALL GRADED A+

Which of the following fees that a broker charges an agent is a violation of the Kentucky Revised Statutes? - desk fee - long distance charges - affiliation fee - coffee fee affiliation fee Most of the time (with certain law exceptions) licensed Kentucky brokers shall maintain a defini...

he Kentucky Real Estate Commission Which of the following is responsible for drafting rules and regulations regarding the practice of real estate in KY? Payment of KREC expenses The Education, Research, and Recovery Fund CANNOT be used for enhance the broker's business One of the m...

A broker must maintain a copy of all of the following EXCEPT: buyer's new deed. The Kentucky Real Estate Commission does NOT have the right to: order discipline against an unlicensed person. Written property management agreements may include a provision: that automatically renews t...

A buyer, hoping to beat out all other offers, included a clause in the offer that reads, "Buyer to beat all competing offers by $1,000 up to a price of $700,000. Seller to provide copies of competing offer to buyer on acceptance." What type of offer is this? Escalator A buyer, hoping to be...

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: $2...

Offer to purchase contracts must include all of the following EXCEPT: the amount of commission to be paid to the broker. When a sales associate receives an earnest money deposit, he/she should: turn it over to his/her principal broker. Alice Gogetter has opened a business to help ren...

Activities Requiring a License Licensing law is there to protect the consumer. Licensing provides the preparation licensees need and the oversight the public demands to practice real estate professionally. Anyone representing themselves to the public as a real estate broker or sales associate, or ...

There can be no more than _____ members of any political party serving on the Commission at one time. four A rebate could be: - a TV -A gift certificate - a return of paid commissions -none of the above a return of paid commissions The Commission has the ability to conduct a(n) _...

What do Datums and Benchmarks measure? Elevation Joint Tenancy 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 surviving joint...

what happens with a Judicial foreclosure? 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? finding a property with good resale value real estate licensees should know...

What title guarantees will Jody have when she buys a property at a foreclosure auction? covenant of seisin Sondra, a buyer, signs all the required mortgage documentation, promising to make all payments to her lender. Unfortunately, Sondra falls on hard times and misses multiple payments, and...

In accordance with the Closing Costs section of the KREC Real Estate Purchase Offer or Contract, who pays for the transfer tax and preparation of the deed? Either the buyer or the seller pay. The buyer pays. The costs are split equally between the buyer and seller. The seller pays. THE SELLER...

Which of the following is true regarding the Kentucky Real Estate Commission? A.) Commissioners serve staggered 6-year terms. B.) Seven members are elected to 5-year terms. C.) One member must represent the public. D.) Members are elected to office by the public. C The Kentucky Real Esta...