©BRIGHTSTARS 2025 ALL RIGHTS RESERVED 9:46 AM A+
KENTUCKY PSI PRACTICE EXAM
(STATE PORTION) Questions And Answers
|Latest 2025 | Guaranteed Pass
THE KY REAL ESTATE COMMISSION DETERMINED THAT A BUYER WAS DAMANGED 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, REASEARCH AND RECOVERY FUND A MAX AMOUNT OF HOW MUCH??? -
Answer✔$20,000
AN ACTION FOR RECOVERY FROM THE KY 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 PUT THE
AGGRIEVED PARTY ON NOTICE OF THE CAUSE OF ACTION? - Answer✔2
WHAT IS THE KY REAL ESTATE COMMISSION NOT RESPONSIBLE FOR?
A. REAL ESTATE EXAMS
B. COMMISSION OR FEE DISPUTE ARBITRATIONS - Answer✔B.
A LICENSEE NEGOTIATING THE SALE OF A CONDO 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 $10K PROFIT. THE BUYER
PURCHASES THE CONDO AND SELLS A YEAR LATER AT A $5K LOSS. WHICH OF THE FOLLOWING
SITUATIONS IS A POSSIBLE CONSEQUENCE TO THE LICENSEE?
A. THE LICENSEE HAS NO RESPONSIBILITY AS THE LICENSEE WAS MERELY PUFFING
1
, ©BRIGHTSTARS 2025 ALL RIGHTS RESERVED 9:46 AM A+
B. THE LICENSEE MAY BE SUBJECT TO POSSIBLE PENALTY BY THE KY REAL ESTATE COMMISSION
- Answer✔B.
WHAT ACTION MUST BE COMPLETED PRIOR TO THE AWARDING OF FUNDS FROM THE KY REAL
ESTATE EDUCATION, RESEARCH AND RECOVERY FUND? - Answer✔COMMISSION HEARING
IF A SALES ASSOCIATES REAL ESTATE LICENSE HAS BEEN REVOKED, THE KY REAL ESTATE
COMMISSION WILL NOT ISSUE ANOTHER LICENSE FOR A PERIOD OF HOW MANY YEARS FROM
THE DATE OF REVOKATION? - Answer✔5 YEARS
WHAT MUST OCCUR WHEN LICENSEES CHANGE THEIR PRESENT RESIDNECE? - Answer✔THE KY
REAL ESTATE COMMISSION MUST BE INFOMED OF THE NEW ADDRESS IN WRITTING BY THE
LICENSEE WITHIN 10 DAYS
PRIOR TO TAKING THE SALES ASSOCIATE LICENSEE REAL ESTATE EXAM, WHAT IS ONE
REQUIREMENT A LICENSEE DOES NOT HAVE TO MEET? - Answer✔BE A US CITIZEN
WHAT MUST HAVE A REAL ESTATE LICENSE IF NOT ASSOCIATED WITH A BROKER? - Answer✔AN
AUCTIONEER CONDUCTING A REAL PROPERTY AUCTION
IF A SALES ASSOCIATES LICENSE IS NOT RENEWED BY THE REQUIRED DATE, WHO WILL BE HELD
ACCOUNTABLE?? - Answer✔THE SALES ASSOCIATE
REAL ESTATE LICENSEES MUST OBTAIN E&O INSURANCE IN WHAT FOLLOWING MANNERS? -
Answer✔FROM THEIR OWN INSURANCE AGENT OR THROUGH THE KY REAL ESTATE
COMMISSION GROUP POLICY
HOW MANY CLOCK HOURS OF CONTINUING EDUCATION ARE ACTIVE REAL ESTATE LICENSEES
REQUIRED TO ATTEND ANNUALLY ? - Answer✔6
2
KENTUCKY PSI PRACTICE EXAM
(STATE PORTION) Questions And Answers
|Latest 2025 | Guaranteed Pass
THE KY REAL ESTATE COMMISSION DETERMINED THAT A BUYER WAS DAMANGED 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, REASEARCH AND RECOVERY FUND A MAX AMOUNT OF HOW MUCH??? -
Answer✔$20,000
AN ACTION FOR RECOVERY FROM THE KY 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 PUT THE
AGGRIEVED PARTY ON NOTICE OF THE CAUSE OF ACTION? - Answer✔2
WHAT IS THE KY REAL ESTATE COMMISSION NOT RESPONSIBLE FOR?
A. REAL ESTATE EXAMS
B. COMMISSION OR FEE DISPUTE ARBITRATIONS - Answer✔B.
A LICENSEE NEGOTIATING THE SALE OF A CONDO 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 $10K PROFIT. THE BUYER
PURCHASES THE CONDO AND SELLS A YEAR LATER AT A $5K LOSS. WHICH OF THE FOLLOWING
SITUATIONS IS A POSSIBLE CONSEQUENCE TO THE LICENSEE?
A. THE LICENSEE HAS NO RESPONSIBILITY AS THE LICENSEE WAS MERELY PUFFING
1
, ©BRIGHTSTARS 2025 ALL RIGHTS RESERVED 9:46 AM A+
B. THE LICENSEE MAY BE SUBJECT TO POSSIBLE PENALTY BY THE KY REAL ESTATE COMMISSION
- Answer✔B.
WHAT ACTION MUST BE COMPLETED PRIOR TO THE AWARDING OF FUNDS FROM THE KY REAL
ESTATE EDUCATION, RESEARCH AND RECOVERY FUND? - Answer✔COMMISSION HEARING
IF A SALES ASSOCIATES REAL ESTATE LICENSE HAS BEEN REVOKED, THE KY REAL ESTATE
COMMISSION WILL NOT ISSUE ANOTHER LICENSE FOR A PERIOD OF HOW MANY YEARS FROM
THE DATE OF REVOKATION? - Answer✔5 YEARS
WHAT MUST OCCUR WHEN LICENSEES CHANGE THEIR PRESENT RESIDNECE? - Answer✔THE KY
REAL ESTATE COMMISSION MUST BE INFOMED OF THE NEW ADDRESS IN WRITTING BY THE
LICENSEE WITHIN 10 DAYS
PRIOR TO TAKING THE SALES ASSOCIATE LICENSEE REAL ESTATE EXAM, WHAT IS ONE
REQUIREMENT A LICENSEE DOES NOT HAVE TO MEET? - Answer✔BE A US CITIZEN
WHAT MUST HAVE A REAL ESTATE LICENSE IF NOT ASSOCIATED WITH A BROKER? - Answer✔AN
AUCTIONEER CONDUCTING A REAL PROPERTY AUCTION
IF A SALES ASSOCIATES LICENSE IS NOT RENEWED BY THE REQUIRED DATE, WHO WILL BE HELD
ACCOUNTABLE?? - Answer✔THE SALES ASSOCIATE
REAL ESTATE LICENSEES MUST OBTAIN E&O INSURANCE IN WHAT FOLLOWING MANNERS? -
Answer✔FROM THEIR OWN INSURANCE AGENT OR THROUGH THE KY REAL ESTATE
COMMISSION GROUP POLICY
HOW MANY CLOCK HOURS OF CONTINUING EDUCATION ARE ACTIVE REAL ESTATE LICENSEES
REQUIRED TO ATTEND ANNUALLY ? - Answer✔6
2
