Kentucky P&C Practice Final 2
– Sample Questions & Review
real exam!!! 2025
When a real estate license has been revoked, the first time a person can ask for another license is -
ANSWERWER ✔---5 years
An owner hired a property manager. This relationship is BEST described as a fiduciary relationship that -
ANSWERWER ✔---Creates General Agency
The financial market is made up of the primary and the secondary market. Which of the following would
NOT be affiliated with either of the primary or secondary market? - ANSWERWER ✔---The Federal
Housing Administration
Which of the following loanswerwer would MOST LIKELY contain an escalation clause? -
ANSWERWER ✔---Adjustable rate mortgage
The covenant which promises that the tenant can use the property without interference from the lessor
and that the lessor will defend the tenant's right of possession against claims from third parities is the -
ANSWERWER ✔---Covenant of quiet enjoyment
, Which two documents are required for an out-of-state commercial broker to work with a Kentucky
broker in a commercial transwerweraction? - ANSWERWER ✔---Cooperative Agreement and
Notice-of-Affiliation Agreement
How many clock hours of continuing education is an active licensee required to take each year? -
ANSWERWER ✔---A total of six hours with three hours of law must be taken by Dec. 31 of each
year. The Core Course must be taken every four years.
An arrangement under which one may acquire, for a period of time, the right to use and occupy
property, for a recurring block of time is the definition of a - ANSWERWER ✔---timeshare
A lender originated a mortgage at a favorable interest rate in return for a guaranteed share of any gain
realized when the property was sold. This transwerweraction would be known as a -
ANSWERWER ✔---Shared appreciation mortgage
A Kentucky agent wants to get an Ohio Real Estate license. The Certification of Status records the
Kentucky licensee will cost - ANSWERWER ✔---$10
All escrow accounts must be maintained - ANSWERWER ✔---Within the Commonwealth of Kentucky
Agent "A" is the cross selling agent (co-op agent) in transwerweraction. Agent "A's" primary fiduciary
relationship is to - ANSWERWER ✔---His or her broker
Where is the license of a real estate agent kept? - ANSWERWER ✔---On file in the office in which
they are actively engaged and affiliated.
Land use controls are designed for all of the following EXCEPT to - ANSWERWER ✔---Ensure the
highest and best use of real estate
A tenant's lease expired at 11:59 p.m. last night. The tenant refuses to move. This BEST describes a -
ANSWERWER ✔---Tenancy at sufferance
– Sample Questions & Review
real exam!!! 2025
When a real estate license has been revoked, the first time a person can ask for another license is -
ANSWERWER ✔---5 years
An owner hired a property manager. This relationship is BEST described as a fiduciary relationship that -
ANSWERWER ✔---Creates General Agency
The financial market is made up of the primary and the secondary market. Which of the following would
NOT be affiliated with either of the primary or secondary market? - ANSWERWER ✔---The Federal
Housing Administration
Which of the following loanswerwer would MOST LIKELY contain an escalation clause? -
ANSWERWER ✔---Adjustable rate mortgage
The covenant which promises that the tenant can use the property without interference from the lessor
and that the lessor will defend the tenant's right of possession against claims from third parities is the -
ANSWERWER ✔---Covenant of quiet enjoyment
, Which two documents are required for an out-of-state commercial broker to work with a Kentucky
broker in a commercial transwerweraction? - ANSWERWER ✔---Cooperative Agreement and
Notice-of-Affiliation Agreement
How many clock hours of continuing education is an active licensee required to take each year? -
ANSWERWER ✔---A total of six hours with three hours of law must be taken by Dec. 31 of each
year. The Core Course must be taken every four years.
An arrangement under which one may acquire, for a period of time, the right to use and occupy
property, for a recurring block of time is the definition of a - ANSWERWER ✔---timeshare
A lender originated a mortgage at a favorable interest rate in return for a guaranteed share of any gain
realized when the property was sold. This transwerweraction would be known as a -
ANSWERWER ✔---Shared appreciation mortgage
A Kentucky agent wants to get an Ohio Real Estate license. The Certification of Status records the
Kentucky licensee will cost - ANSWERWER ✔---$10
All escrow accounts must be maintained - ANSWERWER ✔---Within the Commonwealth of Kentucky
Agent "A" is the cross selling agent (co-op agent) in transwerweraction. Agent "A's" primary fiduciary
relationship is to - ANSWERWER ✔---His or her broker
Where is the license of a real estate agent kept? - ANSWERWER ✔---On file in the office in which
they are actively engaged and affiliated.
Land use controls are designed for all of the following EXCEPT to - ANSWERWER ✔---Ensure the
highest and best use of real estate
A tenant's lease expired at 11:59 p.m. last night. The tenant refuses to move. This BEST describes a -
ANSWERWER ✔---Tenancy at sufferance
