KY Real Estate Final Exam Practice 2025
With 100% Correct Answers
what happens with a Judicial foreclosure? - correct answers ✔✔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? - correct answers ✔✔finding a property with good resale value
real estate licensees should know enough about building ordinances to be able to... - correct
answers ✔✔alert clients of potential problems in a home
if an industrial property is described as "special-purpose" it is... - correct answers ✔✔unsuitable
for many uses and processes.
during the final walk-through a buyer sees that the seller did not remove a downed tree. What
is the best way of handling this? - correct answers ✔✔at the closing the buyer could ask for a
credit from the seller to remove the downed tree.
what is the main purpose of the Kentucky Real Estate Commission? - correct answers ✔✔to put
into effect and make known the administrative regulations to effectively carry out and enforce
the provisions of the Kentucky statutes governing real estate.
who must a principal broker supervise in a real estate office? - correct answers ✔✔all licensees
Affiliated to the principal broker and all other unlicensed employees at that office.
broker Hannah just received a $5,000 escrow money deposit how long does she have to deposit
it under Kentucky law? - correct answers ✔✔without unreasonable delay
, what type of insurance is mandatory for all active licensees? - correct answers ✔✔errors and
omissions insurance
sales associate Nika is showing a property with an electronic lockbox how should she access the
property? - correct answers ✔✔by using the eKEY smartphone application
what penalties May a circuit court impose on a person found violating any provision of Kentucky
License Law? - correct answers ✔✔a fine of between $100 and $1,000 and a jail sentence of up
to six months.
why is designated agency a good alternative to traditional dual agency? - correct answers
✔✔even though the same broker represent each party, both the buyer and the seller have a
licensee who exclusively acts as their agent in the transaction.
which of the following actions is illegal in Kentucky? - correct answers ✔✔acting for more than
one party in a transaction with the knowledge of all parties for him a licensee acts
why should broker Taylor create a website for her brokerage? - correct answers ✔✔to brand her
firm with a visual mission statement.
legislation became effective in July of 1999 that requires a lender to drop the PMI requirement
when the loan-to-value ratio reaches... - correct answers ✔✔78% of the original value of the
property.
before ordering disciplinary action against a licensee, the commission must... - correct answers
✔✔order a hearing.
With 100% Correct Answers
what happens with a Judicial foreclosure? - correct answers ✔✔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? - correct answers ✔✔finding a property with good resale value
real estate licensees should know enough about building ordinances to be able to... - correct
answers ✔✔alert clients of potential problems in a home
if an industrial property is described as "special-purpose" it is... - correct answers ✔✔unsuitable
for many uses and processes.
during the final walk-through a buyer sees that the seller did not remove a downed tree. What
is the best way of handling this? - correct answers ✔✔at the closing the buyer could ask for a
credit from the seller to remove the downed tree.
what is the main purpose of the Kentucky Real Estate Commission? - correct answers ✔✔to put
into effect and make known the administrative regulations to effectively carry out and enforce
the provisions of the Kentucky statutes governing real estate.
who must a principal broker supervise in a real estate office? - correct answers ✔✔all licensees
Affiliated to the principal broker and all other unlicensed employees at that office.
broker Hannah just received a $5,000 escrow money deposit how long does she have to deposit
it under Kentucky law? - correct answers ✔✔without unreasonable delay
, what type of insurance is mandatory for all active licensees? - correct answers ✔✔errors and
omissions insurance
sales associate Nika is showing a property with an electronic lockbox how should she access the
property? - correct answers ✔✔by using the eKEY smartphone application
what penalties May a circuit court impose on a person found violating any provision of Kentucky
License Law? - correct answers ✔✔a fine of between $100 and $1,000 and a jail sentence of up
to six months.
why is designated agency a good alternative to traditional dual agency? - correct answers
✔✔even though the same broker represent each party, both the buyer and the seller have a
licensee who exclusively acts as their agent in the transaction.
which of the following actions is illegal in Kentucky? - correct answers ✔✔acting for more than
one party in a transaction with the knowledge of all parties for him a licensee acts
why should broker Taylor create a website for her brokerage? - correct answers ✔✔to brand her
firm with a visual mission statement.
legislation became effective in July of 1999 that requires a lender to drop the PMI requirement
when the loan-to-value ratio reaches... - correct answers ✔✔78% of the original value of the
property.
before ordering disciplinary action against a licensee, the commission must... - correct answers
✔✔order a hearing.
