KY Real Estate Exam Questions and
Answers
Which of the following residential sales contract provisions in Kentucky is used by sellers to
disclose
Information about any material defects in the home? - CORRECT ANSWERS-Seller's Disclosure
of Property Condition Form
Kentucky licensee Giana manages Three Star Realty's main office. She's in charge of training and
Mentoring the firm's staff. What kind of licensee is she? - CORRECT ANSWERS-Principal broker
Per the Maintenance section of the KREC Real Estate Purchase Offer or Contract, who's
responsible
For maintaining the condition of the property until the buyer takes possession? - CORRECT
ANSWERS-The seller
Which section of the Property Management Agreement identifies the legal owner of the
property? - CORRECT ANSWERS-Parties
The ______ is responsible for advising a seller about proper completion of the Seller's
Disclosure of
Property Conditions form in Kentucky. - CORRECT ANSWERS-Listing agent
In Kentucky, which of the following residential sales contract provisions is used to specify which
items
Are to remain with the property? - CORRECT ANSWERS-Inclusions
Which of the following statements is true about agency at Kentucky real estate brokerages? -
CORRECT ANSWERS-The principal broker may choose to use designated agency, dual agency
without
Designated agency, or no dual agency at the brokerage.
The information on the Condominium Seller Certificate is provided by the ______. - CORRECT
ANSWERS-Condominium association
You're a Kentucky licensee, and your seller client asks you why the Seller's Disclosure of
Property
Conditions form asks about radon testing. How do you respond? - CORRECT ANSWERS-Radon is
a potential health hazard that can be present in any home, so homeowners
, Are encouraged to test for it to determine if mitigation is necessary.
Janice is a new licensee in Kentucky with a buyer client who just found a great house. Which of
the
Following is she NOT required to disclose to her client? - CORRECT ANSWERS-That she lives two
blocks away
Kentucky's Property Management Agreement details the financial arrangement between the
agent and
The owner for managing, leasing, or even selling the property under which section? - CORRECT
ANSWERS-Agent Compensation
Marla forgot to renew her Kentucky real estate license and has been charged with engaging in
Unlicensed brokerage. Which of the following is true? - CORRECT ANSWERS-Marla may not face
penalties if she reactivates her license.
Mickey is a designated agent for the Latimers, who are selling their Kentucky home. When he
receives
An offer to purchase from designated agent Valerie, what should he do before he reviews the
offer with
His clients? - CORRECT ANSWERS-Complete the Agency Disclosure Statement and present it to
the Latimers for their
Signature.
Which of the following statements about the KREC Exclusive Buyer Agency Contract is true? -
CORRECT ANSWERS-The agreement is legally binding once signed by all parties to the contract.
Ginny's firm performs property management tasks for several landlords in addition to its work
with
Buyers and sellers. How many escrow accounts is the Kentucky firm required to have? -
CORRECT ANSWERS-One
If a Kentucky licensee enters into a delinquency plan for failure to complete CE requirements,
by what
Date must the licensee complete the CE requirement? - CORRECT ANSWERS-June 15
How much time does an aggrieved party have to file a fraud claim with the Kentucky Real Estate
Education, Research, and Recovery Fund? - CORRECT ANSWERS-One year
Answers
Which of the following residential sales contract provisions in Kentucky is used by sellers to
disclose
Information about any material defects in the home? - CORRECT ANSWERS-Seller's Disclosure
of Property Condition Form
Kentucky licensee Giana manages Three Star Realty's main office. She's in charge of training and
Mentoring the firm's staff. What kind of licensee is she? - CORRECT ANSWERS-Principal broker
Per the Maintenance section of the KREC Real Estate Purchase Offer or Contract, who's
responsible
For maintaining the condition of the property until the buyer takes possession? - CORRECT
ANSWERS-The seller
Which section of the Property Management Agreement identifies the legal owner of the
property? - CORRECT ANSWERS-Parties
The ______ is responsible for advising a seller about proper completion of the Seller's
Disclosure of
Property Conditions form in Kentucky. - CORRECT ANSWERS-Listing agent
In Kentucky, which of the following residential sales contract provisions is used to specify which
items
Are to remain with the property? - CORRECT ANSWERS-Inclusions
Which of the following statements is true about agency at Kentucky real estate brokerages? -
CORRECT ANSWERS-The principal broker may choose to use designated agency, dual agency
without
Designated agency, or no dual agency at the brokerage.
The information on the Condominium Seller Certificate is provided by the ______. - CORRECT
ANSWERS-Condominium association
You're a Kentucky licensee, and your seller client asks you why the Seller's Disclosure of
Property
Conditions form asks about radon testing. How do you respond? - CORRECT ANSWERS-Radon is
a potential health hazard that can be present in any home, so homeowners
, Are encouraged to test for it to determine if mitigation is necessary.
Janice is a new licensee in Kentucky with a buyer client who just found a great house. Which of
the
Following is she NOT required to disclose to her client? - CORRECT ANSWERS-That she lives two
blocks away
Kentucky's Property Management Agreement details the financial arrangement between the
agent and
The owner for managing, leasing, or even selling the property under which section? - CORRECT
ANSWERS-Agent Compensation
Marla forgot to renew her Kentucky real estate license and has been charged with engaging in
Unlicensed brokerage. Which of the following is true? - CORRECT ANSWERS-Marla may not face
penalties if she reactivates her license.
Mickey is a designated agent for the Latimers, who are selling their Kentucky home. When he
receives
An offer to purchase from designated agent Valerie, what should he do before he reviews the
offer with
His clients? - CORRECT ANSWERS-Complete the Agency Disclosure Statement and present it to
the Latimers for their
Signature.
Which of the following statements about the KREC Exclusive Buyer Agency Contract is true? -
CORRECT ANSWERS-The agreement is legally binding once signed by all parties to the contract.
Ginny's firm performs property management tasks for several landlords in addition to its work
with
Buyers and sellers. How many escrow accounts is the Kentucky firm required to have? -
CORRECT ANSWERS-One
If a Kentucky licensee enters into a delinquency plan for failure to complete CE requirements,
by what
Date must the licensee complete the CE requirement? - CORRECT ANSWERS-June 15
How much time does an aggrieved party have to file a fraud claim with the Kentucky Real Estate
Education, Research, and Recovery Fund? - CORRECT ANSWERS-One year
