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Designated Agency - Answer- A form of agency relationship where a principal broker identifies different licensees in the same real estate brokerage to separately represent more than one party in the same real estate transaction is called Certificate in Good Standing - Answer- All individuals who ...

Beginning - Answer- Advertisements that include an audiovisual presentation need to include an audible announcement or written display of the required content at the ____________ of the advertisement Inactive License - Answer- "Escrow" was replaced by this term when describing the status of a l...

Under Kentucky law, which of the following would not be included in an offer to purchase? A. The purchase price, the amount of the contract deposit and who is to hold the deposit B. Date and time when the offer or counteroffer expires C. The agent who prepared the offer and the commission he/she wi...

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: - A...

If a broker's branch office is 75 miles from his main office, the person managing this branch office must: - Answer- Have been licensed for 2 years averaging 20 hours per week in the business. Which of the following is NOT true regarding a sale-leaseback? - Answer- The ownership of the property ...

An appraiser will identify the general and specific data needed for an appraisal. What will determine the type of additional data needed? - Answer- The type of property Which of the following is a true statement regarding new construction properties? - Answer- Both home inspections and title insu...

1 - Answer- How many Commissioners are appointed as a citizen- at- large? 4 - Answer- How many years is the term of a Commissioner? 2 - Answer- How many consecutive terms can a Commissioner have? Kentucky Association of Realtors - Answer- Where does the Governor get the list of people to se...

Which of the following would not be an illegal act? A. Guaranteeing a future profit for the sale of real estate B. Circulating an unjustified threat of legal proceedings C. An agent advertising a seller's inducement D. Refusing to give a seller a copy of the listing contract - Answer- An agent a...

What are all the KREC statute categories? - Answer- 1. Licensing, education, and testing requirements 2. Advertising 3. Consumer and administrative complaints; discipline; administrative hearings 4. Definitions 5. Education provider requirements 6. Errors and omissions insurance 7. Standards o...