Psi Exam Ky State Final Exam Newest 2025/2026 Actual Exam
Complete Questions And Correct Detailed Answers (Verified
Answers) |Already Graded A+||Brand New Version!!
If a sales associate's license is NOT renewed by the required date, which of the following will be
held accountable? 1. Principal broker
2. Sales associate
3. Sales manager
4. Owner of the brokerage company - DETAILED ANSWER -Sales associate
Which of the following MUST occur when licensees change their principal residence?
1. They must reapply for a real estate license.
2. The Kentucky Real Estate Commission must be notified of the new address in writing by the
licensee within ten days.
3. Notification must be given to the Kentucky Real Estate Commission at the time of license
renewal.
4. They must cease practicing until the Kentucky Real Estate Commission is notified. - DETAILED
ANSWER The Kentucky Real Estate Commission must be notified of the new address in writing
by the licensee within ten days.
Which of the following tasks is an unlicensed assistant allowed to perform?
1. Appear in an ad as long as the ad does not imply the assistant is licensed.
2. Express material opinions to a consumer on an aspect of the transaction.
3. Write or place ads without review by the supervising licensee.
4. Interpret real estate contractual language for others. - DETAILED ANSWER -Appear in an ad as
long as the ad does not imply the assistant is licensed.
, 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:1. $10,000.002. $20,000.003. $25,000.004. $50,000.00 - DETAILED
ANSWER $20,000.00
A licensee tells a prospective buyer, "The landfill 2 miles upwind from this house has never
posed a problem for this neighborhood." If the licensee knows this statement to be UNTRUE, it
is an example of
1. fraud.
2. puffing.
3. salesmanship.
4. misrepresentation. - DETAILED ANSWER -fraud.
A listing contract meets legal requirements if it contains all of the following EXCEPT the
1. listed price.
2. date and time of expiration.
3. fee or compensation agreed upon.
4. signatures of at least two of the sellers. - DETAILED ANSWER -signatures of at least two of the
sellers.
A licensee has made an oral agreement to sell a property. The licensee proceeds to advertise in
the local newspaper, and receives a full-price offer to purchase. According to Kentucky Real
Estate License Law, which of the following statements about this situation is CORRECT?
1. The seller must accept the offer to purchase.
2. The licensee has violated Kentucky Real Estate License Law.
3. The seller must pay the listing agency a commission for the sale.
4. The seller must reimburse the licensee for all advertising costs. - DETAILED ANSWER -The
licensee has violated Kentucky Real Estate License Law.
Complete Questions And Correct Detailed Answers (Verified
Answers) |Already Graded A+||Brand New Version!!
If a sales associate's license is NOT renewed by the required date, which of the following will be
held accountable? 1. Principal broker
2. Sales associate
3. Sales manager
4. Owner of the brokerage company - DETAILED ANSWER -Sales associate
Which of the following MUST occur when licensees change their principal residence?
1. They must reapply for a real estate license.
2. The Kentucky Real Estate Commission must be notified of the new address in writing by the
licensee within ten days.
3. Notification must be given to the Kentucky Real Estate Commission at the time of license
renewal.
4. They must cease practicing until the Kentucky Real Estate Commission is notified. - DETAILED
ANSWER The Kentucky Real Estate Commission must be notified of the new address in writing
by the licensee within ten days.
Which of the following tasks is an unlicensed assistant allowed to perform?
1. Appear in an ad as long as the ad does not imply the assistant is licensed.
2. Express material opinions to a consumer on an aspect of the transaction.
3. Write or place ads without review by the supervising licensee.
4. Interpret real estate contractual language for others. - DETAILED ANSWER -Appear in an ad as
long as the ad does not imply the assistant is licensed.
, 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:1. $10,000.002. $20,000.003. $25,000.004. $50,000.00 - DETAILED
ANSWER $20,000.00
A licensee tells a prospective buyer, "The landfill 2 miles upwind from this house has never
posed a problem for this neighborhood." If the licensee knows this statement to be UNTRUE, it
is an example of
1. fraud.
2. puffing.
3. salesmanship.
4. misrepresentation. - DETAILED ANSWER -fraud.
A listing contract meets legal requirements if it contains all of the following EXCEPT the
1. listed price.
2. date and time of expiration.
3. fee or compensation agreed upon.
4. signatures of at least two of the sellers. - DETAILED ANSWER -signatures of at least two of the
sellers.
A licensee has made an oral agreement to sell a property. The licensee proceeds to advertise in
the local newspaper, and receives a full-price offer to purchase. According to Kentucky Real
Estate License Law, which of the following statements about this situation is CORRECT?
1. The seller must accept the offer to purchase.
2. The licensee has violated Kentucky Real Estate License Law.
3. The seller must pay the listing agency a commission for the sale.
4. The seller must reimburse the licensee for all advertising costs. - DETAILED ANSWER -The
licensee has violated Kentucky Real Estate License Law.
