Kentucky real estate license exam | Final Exam | Questions With Complete Solutions | Already Graded A+ | Latest Update 2025 | Sure To Pass!!

Kentucky real estate license exam | Final Exam | Questions With Complete Solutions | Already Graded A+ | Latest Update 2025 | Sure To Pass!! 1. Jean, a broker for clean green realty, paid Francisco, the buyer, a portion of the commission clean green received from the sale. This is known as_________. - ANSWER rebate 2. two years ago, marlene was convicted of engaging in unlicensed brokerage in kentucky. She's now being charged again. What charges may be filed? - ANSWER class D felony 3. your seller client is filling out the property condition disclosure form and asks you to explain what urea-formaldehyde is. How do you respond? - ANSWER "It's a product once used as foam insulation that could cause health issues for certain people." 4. before being issued a real estate license in Kentucky, candidates must submit which of he following to KREC? - ANSWER their FBI identification record 5. timothy owns a real estate investment consulting firm in bowling green. Neither he nor any of his staff is licensed. which of the following firm names is. most appropriate so that timothy avoids implying that his firm is licensed? - ANSWER "investors solutios" 6. when KREC reviews a license application, what might cause the review to take longer than usual? - ANSWER legal issues 7. if a complaint for a license law violation in Kentucky does not constitute a prima facie case, the complaint has _______ days to revise and supplement the case. - ANSWER 10 8. Kentucky's lien law allows real estate brokers to place a lien on a property for what reason? - ANSWER unpaid commission 9. per the risk or loss of damage section of the KREC real estate purchase offer or contract, who carries the risk of loss or damage to the property prior to closing? - ANSWER the seller carries the risk 10. Ginny's firm performs property management task for several landlords in addition to its work with buyers and sellers. How many escrow accounts is the Kentucky firm required to have? - ANSWER one 11. Licensee Sherry only likes to work with caucasian clients and refuses to work with any people of color. What Kentucky licenses law has she violated? - ANSWER Sherry violated the Fair housing act 12. license candidates must request a(n) _______ prior to scheduling their real estate licensing exam. - ANSWER FBI criminal record check 13. which of the following benefits does errors and omissions insurance provide Kentucky licensees? - ANSWER provides coverage for licensees who made inadvertent mistakes 14. what license law violation has Fred committed if he were convicted of attempted rape and didn't disclose it when he applied for his Kentucky real estate license? - ANSWER Fred failed to report his sexual misconduct conviction to KREC 15. when selling a Kentucky condominium unit, the condominium seller certificate is used to____________. - ANSWER disclose information about condominium fees, regulations, and operations, as required by the association 16. which statement about real estate is business in Kentucky is true? - ANSWER Laura, a nonresident broker, maintains a place of business in her own state. Kentucky license law does not require her to maintain a place of business in Kentucky 17. if the Kentucky real estate commission completes its investigation of a licensee for alleged license law violations and the allegations aren't proven to be true, what happens to the licensee? - ANSWER The case is dismissed without further action 18. In Kentucky, when someone pays commission to an unlicensed individual who is not exempt from licensing law, this is known as ________. - ANSWER A kickback 19. licensee enters into a delinquency plan for failure to complete CE requirements, by what date must the licensee complete the CE requirement - ANSWER June 15 20. your seller client asks you to explain why an item on seller's disclosure of property conditions form asks if the house was built prior to 1978. How do you respond? - ANSWER thats when the use of lead-based paint was outlawed, so a special lead-based paint disclosure is required for homes built before that year. 21. Janna is meeting with clients at her cave city office. She'd been working on another transaction at her desk when these clients came in, so that folder is on her desk. She gets up to go to the copy machine across the hall. which is the most secure action Janna can take? - ANSWER Put the file in a locked desk drawer 22. the information on the condominium seller certificate is provided by the____________. - ANSWER condominium association 23. principal brokers in kentucky make sure that sales associates understand and follow licensing laws, operate in accordance with company policies and procedures, and _____________. - ANSWER adhere to ethics standards 24. on what date do licensees need to renew their real estate license in kentucky - ANSWER March 31 25. the purpose of Kentucky's consumer guide to agency relationship is ______. - ANSWER to educate consumers regarding the types of agency relationships available, and explain the agent's duties to the client 26. how many days does Kentucky licensees have to notify KREC about changes to their situation that affect their license? - ANSWER 10 DAYS 27. A licensee whose license has expired without being renewed for more than one year, or whose license has been revoked or suspended, must __________. - ANSWER Pass the Real Estate exam again 28. Dan is the designated agent of Kentucky buyer Matilda, who's purchasing a property listed by his firm. Dan will complete the _____ portion of the agency disclosure statement when Matilda is ready to make an offer. - ANSWER Transactions involving two agents in the same brokerage: Designated Agency 29. within what time frame are Kentucky brokers required to deposit earnest money funds that they've received? - ANSWER three days after contract signing 30. Kentucky license applicant Ginger must complete her FBI check at least ______ days prior to her license application. Her report will be valid for ________ days from the issue date. - ANSWER 90,90 31. Kristin's marketing materials indicate that the property is 2,867 square feet, not including the attached sun room. After transaction closes, the buyers discover that the property is in fact only 2,567 square feet including the sunroom. Is Kristin guilty of misrepresentation? - ANSWER Yes, Kristin may be guilty of at least unintentional misrepresentation