Kentucky real Estate Practice Exam.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/Kentucky%20real%20E
Kentucky real Estate Practice Exam
1. There can be no more than members of any political party serving onthe
Commission at one time.
ANS four
2. A rebate could be
- a TV
-A gift certificate
- a return of paid commissions
-none of the above
ANS a return of paid commissions
3. The Commission has the ability to conduct a(n) when alleged
escrow actions warrant emergency action.
-trial
-dispute
1 of 36 8/8/2024, 3:06
,Kentucky real Estate Practice Exam.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/Kentucky%20real%20E
-investigation
-emergency hearing
ANS emergency hearing
4. The seller's disclosure form must be completed
ANS at the time of the listing
5. A net listing is defined as listing in which the seller obtains a specific priceand the
agent receives
-a state commission
-the rest of the profit
-nothing
-none of the above
ANS the rest of the profit
6. If a Kentucky licensee wants to promote an out-of-state property in the Stateof Kentucky,
they MUST
2 of 36 8/8/2024, 3:06
,Kentucky real Estate Practice Exam.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/Kentucky%20real%20E
-seek permission from that state
-obtain a license in that state
-seek permission from the attorney general
-seek permission from the Commission
ANS seek permission from the Commission
7. Eloise is representing a buyer for a property. The buyer looks at a property that is
actually owned by Eloise and her husband, Lennie and listed by Eloise. Eloise does not
mention this fact to the buyer. Eloise is in violation of licenselaw for
ANS
undisclosed dual agency
8. A licensee must report to the Commission if he or she
-has an errors and omissions claim filed against him or she
-receives a lawsuit in the mail
-leaves the state
-is convicted of the felony
ANS is convicted of the felony
3 of 36 8/8/2024, 3:06
,Kentucky real Estate Practice Exam.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/Kentucky%20real%20E
9. A broker is required to retain which of the following documents form each
transaction?
-closing statements
-agency forms
4 of 36 8/8/2024, 3:06
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller BESTGOODIES. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
