Kentucky Broker Law 2025/2026 Exam
Questions and Verified Answers |
Already Graded A+
Agency - 🧠 ANSWER ✔✔A legal relationship in which one party, called the
principal, authorized another, called the agent, to act on the principal's
behalf
Real Estate Brokerage - 🧠 ANSWER ✔✔a single, multiple, or continuing act
of dealing in time shares or options, selling or offering for sale, or exchange
of real estate, engaging in property management, leasing or offering to
lease, renting or offering for rent, or referring or offering to refer for the
purpose of securing prospects, any real estate or the improvements
thereon for others for a fee, compensation, or other valuable consideration
Commission - 🧠 ANSWER ✔✔means the Kentucky Real Estate
Commission
Net Listing - 🧠 ANSWER ✔✔means a listing agreement that provides for a
stipulated net price to the owner and the excess over the stipulated net
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
1
,price to be received by the licensee as the fee compensation or other
valuable consideration
Principal broker - 🧠 ANSWER ✔✔means a person licensed as a broker
under KRS 324.046 who, in addition to performing acts of real estate
brokerage or transactions comprehended by that definition, is the single
broker responsible for the operation of the company with which he or she is
associated
Real estate - 🧠 ANSWER ✔✔means real estate in its ordinary meaning and
includes timeshares, options, leaseholds, and other interests less than
leaseholds
Sales associate - 🧠 ANSWER ✔✔means any person licensed in
accordance with KRS 324.046(2) that is affiliated with a Kentucky-licensed
principal broker- and who, when engaging in real estate brokerage, does so
under the supervision of the principal broker
Approved real estate school - 🧠 ANSWER ✔✔means: a school that has
been given a certificate of approval by the Kentucky Commission on
Proprietary Education or other regulatory bodies that exercise jurisdiction
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
2
,over accreditation and approval and the Kentucky Real Estate
Commission.
Approved real estate school - 🧠 ANSWER ✔✔A National Association of
Realtors recognized program which has been reviewed by the Kentucky
Real Estate Commission and deemed an
_______________________________________
Accredited institution - 🧠 ANSWER ✔✔means a college or university
accredited by appropriately recognized educational associations or
chartered and licensed in Kentucky that grants credits toward a program for
either an associate, baccalaureate, graduate, or professional degree
Property management - 🧠 ANSWER ✔✔means the overall management of
real property for others for a fee, compensation, or other valuable
consideration, and may include the marketing of property, the leasing of
property, collecting rental payments on the property, payment of notes,
mortgages, and other debts on the property, coordinating maintenance for
the property, remitting funds and accounting statements to the owner, and
other activities that the commission may determine by administrative
regulation
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
, Broker - 🧠 ANSWER ✔✔means any person who is licensed under KRS
324.046 (1) and performs acts of real estate brokerage
Designated manager - 🧠 ANSWER ✔✔means a licensed sales associate or
broker who manages a main or branch office for the principal broker, at the
principal broker's direction, and has managing authority over the activities
of the sales associates at that office
Regular employee - 🧠 ANSWER ✔✔means an employee who works for an
employer, whose total compensation is subject to withholding of federal
and state taxes and FICA payments, and who receives from the employer a
fixed salary governed by federal wage guidelines that is not affected by
specific real estate transactions
Designated agency - 🧠 ANSWER ✔✔means a form of agency relationship
that exists when a principal broker, in accordance with KRS 324.121,
identifies different licensees in the same real estate brokerage firm to
separately represent more than one party in the same real estate
transaction
Affiliation - 🧠 ANSWER ✔✔means the relationship agreed upon between a
licensee and a principal broker and reported to the commission where the
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
4
Questions and Verified Answers |
Already Graded A+
Agency - 🧠 ANSWER ✔✔A legal relationship in which one party, called the
principal, authorized another, called the agent, to act on the principal's
behalf
Real Estate Brokerage - 🧠 ANSWER ✔✔a single, multiple, or continuing act
of dealing in time shares or options, selling or offering for sale, or exchange
of real estate, engaging in property management, leasing or offering to
lease, renting or offering for rent, or referring or offering to refer for the
purpose of securing prospects, any real estate or the improvements
thereon for others for a fee, compensation, or other valuable consideration
Commission - 🧠 ANSWER ✔✔means the Kentucky Real Estate
Commission
Net Listing - 🧠 ANSWER ✔✔means a listing agreement that provides for a
stipulated net price to the owner and the excess over the stipulated net
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
1
,price to be received by the licensee as the fee compensation or other
valuable consideration
Principal broker - 🧠 ANSWER ✔✔means a person licensed as a broker
under KRS 324.046 who, in addition to performing acts of real estate
brokerage or transactions comprehended by that definition, is the single
broker responsible for the operation of the company with which he or she is
associated
Real estate - 🧠 ANSWER ✔✔means real estate in its ordinary meaning and
includes timeshares, options, leaseholds, and other interests less than
leaseholds
Sales associate - 🧠 ANSWER ✔✔means any person licensed in
accordance with KRS 324.046(2) that is affiliated with a Kentucky-licensed
principal broker- and who, when engaging in real estate brokerage, does so
under the supervision of the principal broker
Approved real estate school - 🧠 ANSWER ✔✔means: a school that has
been given a certificate of approval by the Kentucky Commission on
Proprietary Education or other regulatory bodies that exercise jurisdiction
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
2
,over accreditation and approval and the Kentucky Real Estate
Commission.
Approved real estate school - 🧠 ANSWER ✔✔A National Association of
Realtors recognized program which has been reviewed by the Kentucky
Real Estate Commission and deemed an
_______________________________________
Accredited institution - 🧠 ANSWER ✔✔means a college or university
accredited by appropriately recognized educational associations or
chartered and licensed in Kentucky that grants credits toward a program for
either an associate, baccalaureate, graduate, or professional degree
Property management - 🧠 ANSWER ✔✔means the overall management of
real property for others for a fee, compensation, or other valuable
consideration, and may include the marketing of property, the leasing of
property, collecting rental payments on the property, payment of notes,
mortgages, and other debts on the property, coordinating maintenance for
the property, remitting funds and accounting statements to the owner, and
other activities that the commission may determine by administrative
regulation
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
, Broker - 🧠 ANSWER ✔✔means any person who is licensed under KRS
324.046 (1) and performs acts of real estate brokerage
Designated manager - 🧠 ANSWER ✔✔means a licensed sales associate or
broker who manages a main or branch office for the principal broker, at the
principal broker's direction, and has managing authority over the activities
of the sales associates at that office
Regular employee - 🧠 ANSWER ✔✔means an employee who works for an
employer, whose total compensation is subject to withholding of federal
and state taxes and FICA payments, and who receives from the employer a
fixed salary governed by federal wage guidelines that is not affected by
specific real estate transactions
Designated agency - 🧠 ANSWER ✔✔means a form of agency relationship
that exists when a principal broker, in accordance with KRS 324.121,
identifies different licensees in the same real estate brokerage firm to
separately represent more than one party in the same real estate
transaction
Affiliation - 🧠 ANSWER ✔✔means the relationship agreed upon between a
licensee and a principal broker and reported to the commission where the
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
4
