SALESPERSON COMPREHENSIVE EXAM 2025/2026
QUESTIONS AND SOLUTIONS GRADED A+ TIP
✔✔A buyer wanted to use a $1,000 promissory note as earnest money. The
salesperson should?
A. write a personal check for reimbursement if not paid within 10 days
B. tell the buyer promissory notes can NOT be accepted as earnest money
C. Present the offer and NOT mention that the earnest money is a promissory note
D. Tell the buyer it must be disclosed that it is a promissory note - ✔✔D. Tell the buyer it
must be disclosed that it is a promissory note
✔✔If a Kansas licensee is rejected for licensure in another state, how many days does
this person have in which to notify the KREC?
A. 5
B. 2
C. 7
D. 10 - ✔✔D. 10
✔✔What is the penalty for failure to renew a license in a timely fashion?
A. Revocation
B. Suspension
C. Restriction.
D. a fine of $50 - ✔✔D. a fine of $50
✔✔In order to auction real estate in Kansas and receive a fee, on must?
A. Obtain a real estate license in Kansas
B. obtain a auctioneers license
C. obtain permission by KREC
D. have lived in Kansas for two years - ✔✔A. Obtain a real estate license in Kansas
✔✔The zoning commission has the authority to zone under which government right?
A. Escheat
B. Police Power
C. Eminent Domain
D. Condemnation - ✔✔B. Police Power
✔✔Which of following is quitclaim deed most generally used for?
A. If a decedent's will is involved in the property
B. when a normal deed is unavailable
C. When the seller only guarantees title for a certain time period
D. To quiet a cloud on the title - ✔✔D. To quiet a cloud on the title
✔✔Which of the following statements would best describe what happens when a broker
refuses to allow the KREC auditor to examine the broker's records?
, A. The auditor would have to get a warrant from the court
B. The broker would lose the license
C. The KREC can do nothing
D. The broker would be reprimanded - ✔✔A. The broker would lose the license
✔✔A property was purchased for 178,000. Over the past three years, the homes in this
area has appreciated *% per year. If the current trend continues, what will this new
property be worth at the end of the next three years?
A. 203568
B. 220720
C. 224229
D. 198467 - ✔✔C. 224229
✔✔A property owner can deduct depreciation for tax purposes on a property in which of
the following circumstances?
A. When the property owner makes improvements on the property
B. When the homeowner takes the 55 or over capital gain exclusion
C. When the property is a rental property
D. When the property is sold - ✔✔C. When the property is rental property
✔✔What is it called when a buyer purchases a property, makes monthly installment
payments to the seller, and receives the deed after the entire purchase is completely
paid?
A. An installment contract
B. A lease
C. An option
D. A right of first refusal - ✔✔A. An installment contract
✔✔Which of the following would be a violation of the Sherman Anti-Trust Laws?
A. A broker establishing a commission split between the employer and employee
B. A group of brokers setting a common commission rate
C. An agent directing buyers towards areas based on race
D. A lender limiting loans to a certain geographical area - ✔✔B. A group of brokers
setting a common commission rate
✔✔Broker R was the owner of XYZ Realty Inc. Which would violate the license law?
A. Failure to post Broker R's name as broker in or at the office
B. Failure to put Broker R's name on corporation
C. Failure to put Broker R's name on the sign
D. Failure to put Broker R's name on all newspaper ads - ✔✔A. Failure to post Broker
R's name as broker in or at the office
✔✔A licensed Florida broker is doing seminars on Florida property at dinners in various
places in Kansas. Some people have asked her if they can purchase the properties.
Which is true regarding her needs for a Kansas license?
QUESTIONS AND SOLUTIONS GRADED A+ TIP
✔✔A buyer wanted to use a $1,000 promissory note as earnest money. The
salesperson should?
A. write a personal check for reimbursement if not paid within 10 days
B. tell the buyer promissory notes can NOT be accepted as earnest money
C. Present the offer and NOT mention that the earnest money is a promissory note
D. Tell the buyer it must be disclosed that it is a promissory note - ✔✔D. Tell the buyer it
must be disclosed that it is a promissory note
✔✔If a Kansas licensee is rejected for licensure in another state, how many days does
this person have in which to notify the KREC?
A. 5
B. 2
C. 7
D. 10 - ✔✔D. 10
✔✔What is the penalty for failure to renew a license in a timely fashion?
A. Revocation
B. Suspension
C. Restriction.
D. a fine of $50 - ✔✔D. a fine of $50
✔✔In order to auction real estate in Kansas and receive a fee, on must?
A. Obtain a real estate license in Kansas
B. obtain a auctioneers license
C. obtain permission by KREC
D. have lived in Kansas for two years - ✔✔A. Obtain a real estate license in Kansas
✔✔The zoning commission has the authority to zone under which government right?
A. Escheat
B. Police Power
C. Eminent Domain
D. Condemnation - ✔✔B. Police Power
✔✔Which of following is quitclaim deed most generally used for?
A. If a decedent's will is involved in the property
B. when a normal deed is unavailable
C. When the seller only guarantees title for a certain time period
D. To quiet a cloud on the title - ✔✔D. To quiet a cloud on the title
✔✔Which of the following statements would best describe what happens when a broker
refuses to allow the KREC auditor to examine the broker's records?
, A. The auditor would have to get a warrant from the court
B. The broker would lose the license
C. The KREC can do nothing
D. The broker would be reprimanded - ✔✔A. The broker would lose the license
✔✔A property was purchased for 178,000. Over the past three years, the homes in this
area has appreciated *% per year. If the current trend continues, what will this new
property be worth at the end of the next three years?
A. 203568
B. 220720
C. 224229
D. 198467 - ✔✔C. 224229
✔✔A property owner can deduct depreciation for tax purposes on a property in which of
the following circumstances?
A. When the property owner makes improvements on the property
B. When the homeowner takes the 55 or over capital gain exclusion
C. When the property is a rental property
D. When the property is sold - ✔✔C. When the property is rental property
✔✔What is it called when a buyer purchases a property, makes monthly installment
payments to the seller, and receives the deed after the entire purchase is completely
paid?
A. An installment contract
B. A lease
C. An option
D. A right of first refusal - ✔✔A. An installment contract
✔✔Which of the following would be a violation of the Sherman Anti-Trust Laws?
A. A broker establishing a commission split between the employer and employee
B. A group of brokers setting a common commission rate
C. An agent directing buyers towards areas based on race
D. A lender limiting loans to a certain geographical area - ✔✔B. A group of brokers
setting a common commission rate
✔✔Broker R was the owner of XYZ Realty Inc. Which would violate the license law?
A. Failure to post Broker R's name as broker in or at the office
B. Failure to put Broker R's name on corporation
C. Failure to put Broker R's name on the sign
D. Failure to put Broker R's name on all newspaper ads - ✔✔A. Failure to post Broker
R's name as broker in or at the office
✔✔A licensed Florida broker is doing seminars on Florida property at dinners in various
places in Kansas. Some people have asked her if they can purchase the properties.
Which is true regarding her needs for a Kansas license?
