Ky real estate law - Study guides, Class notes & Summaries

Kentucky State Real Estate Practice Exam (Ky Law) 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert)

Kentucky State Real Estate Practice Exam (Ky Law) Latest Quizzes & Ans!!

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, sickness, or violations of the "Securities and Exchange Act". Continuing Education - Answer Anyone licensed after June 19, 1976 shall obtain 6hrs of continuing education each year and must complet...

Kentucky State Real Estate Practice Exam (Ky Law) Latest Quizzes & Ans!!

KY Real Estate Exam Questions and Answers If it is a felony - Answer-A licensee has a duty to report a conviction to the Commission if: 5 years - Answer-Revocation means that the licensee cannot seek reinstatement for how long? He or she moves out of state - Answer-A licensed Commissioner can be removed if: 30 days - Answer-If a tenant leaves owing rent, how long must the landlord wait before removing the deposit and applying the money to the unpaid rent? Yes, with approval from th...

KY Law Real Estate Verified Guide A broker cannot charge ____________________________________________________ to any of their sales associates ️an affiliation fee A broker cannot designate themselves ️as the designated agent of a consumer A broker has a written offer which was rejected by the seller. The broker should: ️keep a copy of the rejected offer in his/her files for five (5) years. A broker must maintain a copy of all of the following EXCEPT: ️buyer's new deed. A c...

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, Res...

Kentucky State Real Estate Practice Exam (KY Law) 100% Pass 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: $20,000 An action for recovery from the Kentucky Real Estate Education, Research, and Recovery Fund MUST be commenced within how many years f...

KY Real Estate Law - PSI Practice Exam Questions With Correct Answers 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? - answer2 Years The Kentucky Real Estate Commission is responsible for what? - answerProtecting the public interest through regulations...

KY Real Estate Final Exam Practice Already Passed 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 enough about building ordinances to be able to... alert clients of potential problems in a home if an industrial property is described as "special-purpose" it i...