K.T real estate final
[2024-25] PASS.
what happens with a Judicial foreclosure? - ANSWERS-the mortgaged property is sold under the
supervision of a court
broker Dean realizes he has relocation buyers. What is something he should focus on with these buyers?
- ANSWERS-finding a property with good resale value
real estate licensees should know enough about building ordinances to be able to... - ANSWERS-alert
clients of potential problems in a home
if an industrial property is described as "special-purpose" it is... - ANSWERS-unsuitable for many uses
and processes.
during the final walk-through a buyer sees that the seller did not remove a downed tree. What is the
best way of handling this? - ANSWERS-at the closing the buyer could ask for a credit from the seller to
remove the downed tree.
what is the main purpose of the Kentucky Real Estate Commission? - ANSWERS-to put into effect and
make known the administrative regulations to effectively carry out and enforce the provisions of the
Kentucky statutes governing real estate.
who must a principal broker supervise in a real estate office? - ANSWERS-all licensees Affiliated to the
principal broker and all other unlicensed employees at that office.
, broker Hannah just received a $5,000 escrow money deposit how long does she have to deposit it under
Kentucky law? - ANSWERS-without unreasonable delay
what type of insurance is mandatory for all active licensees? - ANSWERS-errors and omissions insurance
sales associate Nika is showing a property with an electronic lockbox how should she access the
property? - ANSWERS-by using the eKEY smartphone application
what penalties May a circuit court impose on a person found violating any provision of Kentucky License
Law? - ANSWERS-a fine of between $100 and $1,000 and a jail sentence of up to six months.
why is designated agency a good alternative to traditional dual agency? - ANSWERS-even though the
same broker represent each party, both the buyer and the seller have a licensee who exclusively acts as
their agent in the transaction.
which of the following actions is illegal in Kentucky? - ANSWERS-acting for more than one party in a
transaction with the knowledge of all parties for him a licensee acts
why should broker Taylor create a website for her brokerage? - ANSWERS-to brand her firm with a visual
mission statement.
legislation became effective in July of 1999 that requires a lender to drop the PMI requirement when the
loan-to-value ratio reaches... - ANSWERS-78% of the original value of the property.
before ordering disciplinary action against a licensee, the commission must... - ANSWERS-order a
hearing.
broker Pearl represents buyer Emma. Pearl heard that the seller Misty will accept $20,000 less than the
listed price. Under which duty is Pearl obligated to share this information with Emma? - ANSWERS-
loyalty
[2024-25] PASS.
what happens with a Judicial foreclosure? - ANSWERS-the mortgaged property is sold under the
supervision of a court
broker Dean realizes he has relocation buyers. What is something he should focus on with these buyers?
- ANSWERS-finding a property with good resale value
real estate licensees should know enough about building ordinances to be able to... - ANSWERS-alert
clients of potential problems in a home
if an industrial property is described as "special-purpose" it is... - ANSWERS-unsuitable for many uses
and processes.
during the final walk-through a buyer sees that the seller did not remove a downed tree. What is the
best way of handling this? - ANSWERS-at the closing the buyer could ask for a credit from the seller to
remove the downed tree.
what is the main purpose of the Kentucky Real Estate Commission? - ANSWERS-to put into effect and
make known the administrative regulations to effectively carry out and enforce the provisions of the
Kentucky statutes governing real estate.
who must a principal broker supervise in a real estate office? - ANSWERS-all licensees Affiliated to the
principal broker and all other unlicensed employees at that office.
, broker Hannah just received a $5,000 escrow money deposit how long does she have to deposit it under
Kentucky law? - ANSWERS-without unreasonable delay
what type of insurance is mandatory for all active licensees? - ANSWERS-errors and omissions insurance
sales associate Nika is showing a property with an electronic lockbox how should she access the
property? - ANSWERS-by using the eKEY smartphone application
what penalties May a circuit court impose on a person found violating any provision of Kentucky License
Law? - ANSWERS-a fine of between $100 and $1,000 and a jail sentence of up to six months.
why is designated agency a good alternative to traditional dual agency? - ANSWERS-even though the
same broker represent each party, both the buyer and the seller have a licensee who exclusively acts as
their agent in the transaction.
which of the following actions is illegal in Kentucky? - ANSWERS-acting for more than one party in a
transaction with the knowledge of all parties for him a licensee acts
why should broker Taylor create a website for her brokerage? - ANSWERS-to brand her firm with a visual
mission statement.
legislation became effective in July of 1999 that requires a lender to drop the PMI requirement when the
loan-to-value ratio reaches... - ANSWERS-78% of the original value of the property.
before ordering disciplinary action against a licensee, the commission must... - ANSWERS-order a
hearing.
broker Pearl represents buyer Emma. Pearl heard that the seller Misty will accept $20,000 less than the
listed price. Under which duty is Pearl obligated to share this information with Emma? - ANSWERS-
loyalty
