KY real estate final exam practice question and answers 2023 verified to passwhat happens with a Judicial foreclosure? - correct 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 b...
KY real estate final exam practice question and answers 2023 verified to pass
what happens with a Judicial foreclosure? - correct 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? - correct answer finding a property with good resale value
real estate licensees should know enough about building ordinances to be able to... - correct answer alert clients of potential problems in a home
if an industrial property is described as "special-purpose" it is... - correct answer unsuitable for many uses and processes.
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? - correct answer at the closing the buyer could ask for a credit from the seller to remove the downed tree.
what is the main purpose of the Kentucky Real Estate Commission? - correct answer 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.
who must a principal broker supervise in a real estate office? - correct answer all licensees Affiliated to the principal broker and all other unlicensed employees at that office.
broker Hannah just received a $5,000 escrow money deposit how long does she have to deposit it under Kentucky law? - correct answer without unreasonable delay
what type of insurance is mandatory for all active licensees? - correct answer errors and omissions insurance sales associate Nika is showing a property with an electronic lockbox how should she access the property? - correct answer by using the eKEY smartphone application
what penalties May a circuit court impose on a person found violating any provision of Kentucky License Law? - correct answer a fine of between $100 and $1,000 and a jail sentence of up to six months.
why is designated agency a good alternative to traditional dual agency? - correct answer even though the same broker represent each party, both the buyer and the seller have a licensee who exclusively acts as their agent in the transaction.
which of the following actions is illegal in Kentucky? - correct answer acting for more than one party in a transaction with the knowledge of all parties for him a licensee acts
why should broker Taylor create a website for her brokerage? - correct answer to brand her firm with a visual mission statement.
legislation became effective in July of 1999 that requires a lender to drop the PMI requirement when the
loan-to-value ratio reaches... - correct answer 78% of the original value of the property.
before ordering disciplinary action against a licensee, the commission must... - correct answer order a hearing.
broker Pearl represents buyer Emma. Pearl heard that the seller Misty will accept $20,000 less than the listed price. Under which duty is Pearl obligated to share this information with Emma? - correct answer loyalty
what type of agency cannot be revoked by the principal nor is terminated if the principal dies? - correct answer agency coupled with an interest
licensee Chad works for broker Michael. License each ad has a listing agreement was Stellar Ray. Licensee Chad decided to transfer Brokers. What will most likely happen with Chad's listing? - correct answer it will stay with Michael's brokerage.
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