Kansas Law Questions Graded A+

Kansas Law Questions Graded A+ Section 1: ️Activities requiring a real estate License Who enacts the real estate law in Kansas? ️Kansas Legislature In order to auction real estate in Kansas and receive a fee, one must: ️Obtain a real estate license in Kansas A person was employed by a utility company to acquire gross easements on behalf of the utility. Which of the following statements is true? ️No license would be required if the person acquired easements, not appurtenant easements An auctioneer, who had a broker's license, received a listing to auction some vacant land. Which of the following would NOT be allowed? ️Allowing unlicensed employees to help point out bidders to the auctioneer X hired an unlicensed auctioneer to auction the agricultural property at a 10% commission fee. Is this legal? ️No, it is only legal if the auctioneer takes NO compensation A gives B power of attorney. B can sell property for A without having a license as long as: ️B receives no compensation A person auctioning vacant land would need a real estate license to auction on behalf of each of the following entities EXCEPT when the person is auctioning for: ️the government as a part of their regular duties XYZ, Inc., a New York corporation, bought a recently refurbished strip center in Kansas and brought in several leasing agents from New York to handle the leasing. XYZ would be operating within the law as long as the leasing agents? ️Each one owned NOT LESS THAN 5% of the corporate stock 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 need for a Kansas License? ️She needs a Kansas license to market Florida properties in Kansas Section 2: ️Types of Licenses T/F: A license can only be issued to people, NOT a corporation or partnership, etc.? ️True T/F: Each office must have its own broker ️True Supervising Broker ️-Broker of the main office -HOLDS ALL licenses of the Main office Branch Broker ️-responsible for running Branch Office -HOLDS ALL licenses of branch office Associate broker ️-"Glorified salesperson" -Has passed the broker exam and requirements but chooses to work for another broker -CAN NOT hold licenses of others The main office of a real estate company wants to open up a branch office in the suburbs. One of the current licensees in the main office will be the supervisor for the branch office. What type of license would be needed for the licensee? ️Branch broker Section 3: ️Kansas Real Estate Commission KREC is made up of ________ members appointed by the _________? ️-Five mem