Kansas Real Estate Law BUNDLED exam 2023 with 100% correct answers

A broker listed a residential property for 180 days. After the listing expired, the seller asked the broker to rent it out. Which of the following statements BEST describes the broker's obligations? - correct answerThe broker could hire an unlicensed person to rent the property. A licensed Flori...

What duties are owed to the buyer when representing the seller? - correct answer1.) Disclose known material defects w/ the property or title 2.) Seller's agent has no o ligation to investigate the property for the buyer 3.) If seller's agent knows something was incorrect in an inspection the...

acceleration clause - correct answera clause in your mortgage which allows the lender to demand payment of the outstanding loan balance for various reasons. the most common reason for accelerating a loan are if the borrower defaults on the loan or transfers title to another individual without inform...

Who enacts the real estate law in Kansas? A. Kansas Legislature B. Kansas Real Estate Commission C. Kansas Attorney General D. Director of the Kansas Real Estate Commission - correct answerA A real estate license is required to: A. lease agricultural property B. Auction vacant land C....

In deciding on whether to make a residential home loan, a lender would normally consider the borrower's - correct answerdebt to income ratio A property sold for $200,000 with an 80% loan to value ratio. The lender charged 1 discount point in connection with the loan. What was the amount for the ...

Which of the following is a closing custom in KS - correct answerBuyers and sellers split the closing fee KREC recently updated the Real Estate Brokerage Relationship brochure in order to - correct answerBetter clarify how designated agency works What is the most important reason for licensees...

Chattel (personal property) - correct answerIf the item is not permanently attached, then it is personal property Real Property - correct answerThings that would be difficult to remove from the house/property Trade Fixture - correct answer"A piece of equipment or other item that is on or atta...

items required to have a licensee receive payment / compensation to do, offer or negotiate: - correct answerSell a property, purchase a property, lease a commercial property, listing property, auction / help at auction, and to procure prospects Real estate includes: - correct answerFreehold estat...

When is an item considered Real Estate? - correct answerWhen it is permanetly attached to land What are the 2 charicteristics of land - correct answerPhysical - immovable, indestructable, non homeogeneous Economic - situs/location, scarcity, improvable The 3 Physical Characteristic of Land - ...

The Statement of Representation should A. hang prominently in the brokerage firm B. be included in every Real Estate Relationships Brochure C. not be included on personalized brochures D. be included on all paperwork submitted to KREC - correct answerD The Transaction Broker represents... A....