KENTUCKY STATE REAL ESTATE LAW QUESTIONS WITH CORRECT ANSWERS 2025

KENTUCKY STATE REAL ESTATE LAW
QUESTIONS WITH CORRECT ANSWERS 2025
IfRaRlicensedRaffiliateRmisrepresentsRfactsRinRaRswornRstatement,RallRofRtheRfollowingRareRTRUEREXC
EPT:R-RCORRECTRANSWERR-
heRcannotRbeRfinedRbyRtheRKRECRunlessRtheRcircuitRcourtRagreesRtoRtheRfine



ARlicensedRagentRwhoRwishesRtoRcontestRaRdecisionRmadeRbyRtheRKentuckyRRealREstateRCommissio
nRshouldRfirstRapplyRto:R-RCORRECTRANSWERR-
theRCircuitRCourtRinRtheRcountyRwhereRtheRlicenseeRhasRhis/herRprincipalRplaceRofRbusiness.



ExaminationRfeesRthatRmayRbeRchargedRbyRtheRKRECRare:R-RCORRECTRANSWERR-
inRanRamountRnotRtoRexceedR$100.



WhereRdoesRtheRmoneyRcomeRfromRforRtheRoperationRofRtheRKREC?R-RCORRECTRANSWERR-
LicenseRfees.



WhichRofRtheRfollowingRisRTRUERregardingRaRmanagerRofRrealRproperty?R-RCORRECTRANSWERR-
NoRlicenseRisRrequiredRtoRmanageRifRtheRmanagerRisRaRregularRsalariedRemployeeRofRtheRprincipalRb
rokerRhiredRforRtheRpurposeRofRmanagingRtheRproperty.



ARrealRestateRbrokerRwantsRtoRgiveRhisRneighborRaRnewRvideoRrecorderRforRaRleadRwhichRresultedRin
RaRsale.RIfRtheRbrokerRgivesRthisRgift,RitRis:R-RCORRECTRANSWERR-


aRviolationRofRtheRKentuckyRLicenseRLaw.



InRorderRforRanRaggrievedRpartyRtoRapplyRforRreimbursementRfromRtheRrecoveryRfund,RtheRactionR
mustRbeRcommenced:R-RCORRECTRANSWERR-
withinRtwoRyearsRofRtheRactualRknowledgeRofRtheRcauseRofRactionRorRfromRtheRtimeRhe/sheRshouldR
haveRreasonablyRknownRtheRcauseRofRaction.

, InRcertainRcircumstances,RallRofRtheRfollowingRmayRsellRrealRestateRwithoutRaRlicenseREXCEPT:R-
RCORRECTRANSWERR-aRnotaryRpublic.




ABCRRealtyRwillRpayRforRaRmovingRvanRforRanyRclientRorRcustomerRwhoRbuysRorRsellsRaRhomeRthroug
hRtheirRbrokerageRfirm.RABCRRealty:R-RCORRECTRANSWERR-
mayRdoRsoRwithRwrittenRdisclosureRtoRtheRclientRorRcustomer.



IfRaRsellerRrefusesRtoRcompleteRand/orRsignRtheRSellerRDisclosureRofRPropertyRConditionRform,RtheRli
stingRlicenseeRmust:R-RCORRECTRANSWERR-
signRtheRformRstatingRthatRtheRsellerRhasRrefusedRtoRcompleteRand/orRsignRtheRform,RandRinformRth
eRbuyerRofRtheRseller'sRrefusal.



ARbrokerRmustRmaintainRaRcopyRofRallRofRtheRfollowingREXCEPT:R-RCORRECTRANSWERR-
buyer'sRnewRdeed.



AnRunlicensedRindividualRhasRofferedRtoRsellRyourRpropertyRforRaRcommission.RAfterRcallingRtheRKen
tuckyRRealREstateRCommission,RyouRdiscoverRthatRallRofRtheRfollowingRareRTRUEREXCEPT:R-
RCORRECTRANSWERR-


anRunlicensedRindividualRmayRsellRyourRpropertyRifRtheyRhaveRyourRpermission.



WrittenRpropertyRmanagementRagreementsRmayRincludeRaRprovision:R-RCORRECTRANSWERR-
thatRautomaticallyRrenewsRtheRagreement.



ARsalesRassociateRhasRlistedRaRhouseRforRsale.RTheRownersRhaveRtoRmoveRandRaskRtheRsalesRassociat
eRtoRlocateRaRtenantRuntilRaRbuyerRcanRbeRfound.RTheRownersRagreeRtoRpayRtheRsalesRassociateRaRm
odestRfeeRforRtheRmanagementRactivities.RWhichRofRtheRfollowingRstatementsRisR-
RCORRECTRANSWERR-


ThereRmustRbeRaRwrittenRmanagementRagreementRbetweenRtheRprincipalRbrokerRandRtheRowners.



WhenRaRsalesRassociateRreceivesRanRearnestRmoneyRdeposit,Rhe/sheRshould:R-
RCORRECTRANSWERR-turnRitRoverRtoRhis/herRprincipalRbroker.