Kentucky State Real Estate Practice Exam (Ky Law) Questions And Answers Latest Top Score.
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Course
Kentucky State Real Estate Practice
Institution
Kentucky State Real Estate Practice
Kentucky State Real Estate Practice Exam (Ky Law) Questions And Answers Latest Top Score.
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 Commi...
Kentucky State Real Estate Practice Exam
(Ky Law) Questions And Answers Latest
Top Score.
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: - correct answer. $20,000
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? - correct answer. Two (2) Years
The Kentucky Real Estate Commission is NOT responsible for the following activities -
correct answer. commission or fee dispute arbitrations.
A licensee negotiating the sale of a condominium tells a prospective buyer that the
licensee absolutely guarantees that if the buyer closes on the property now, and resells
it in a year, the buyer will realize no less than a $10,000 profit. The buyer purchases the
condominium, and sells it a year later at a $5,000 loss. Which of the following situations
is a possible consequence to the licensee? - correct answer. The licensee may be
subject to possible penalty by the Kentucky Real Estate Commission.
If a sales associate's real estate license has been revoked, the Kentucky Real Estate
Commission will NOT issue another license for a period of how many years from the
date of revocation? - correct answer. Five (5) years.
What action MUST be completed prior to the awarding of funds from the Kentucky Real
Estate Education, Research, and Recovery Fund? - correct answer. A Commission
Hearing
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