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Kentucky State Real Estate Practice Exam 3 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert) $12.99   Add to cart

Exam (elaborations)

Kentucky State Real Estate Practice Exam 3 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert)

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  • Course
  • Kentucky State Real Estate
  • Institution
  • Kentucky State Real Estate

Kentucky State Real Estate Practice Exam 3 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert)

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  • August 9, 2024
  • 25
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Kentucky State Real Estate
  • Kentucky State Real Estate
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3.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/Kentucky%20State%2




Kentucky State Real Estate Practice

Exam #3



1. Under Kentucky law, which of the following would not be included in an offerto

purchase?

A. The purchase price, the amount of the contract deposit and who is to holdthe deposit

B. Date and time when the offer or counteroffer expires C. The agent who prepared the

offer and the commission he/she will be paid D. Theclosing date and when possession

will be given to the buyer

ANS The agent who prepared the offer and the commission he/she will be paid



2. If a person does not renew in the proper timeframe the person will be finedup to

A. $100.00 B. $200.00 C. $500.00 D. $1,000.00

ANS $200.00



3. Under Kentucky law, which of the following would not be included in a listingcontract?
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A. The commission and the expiration of the listing B.The listing price and thesignatures

of all owners C.The expiration of the offer and the buyers names

D. Special directions of the owner

ANS The expiration of the offer and buyers names.



4. A seller has offered two round-trip tickets within the continental UnitedStates to

anyone who buys his property.The agent

A. cannot advertise the tickets because it is an inducement. B. cannot adver-tise the

tickets until it is approved by the Board. C. can advertise the tickets with the permission

of the KREC. D. can advertise the seller's inducement ofthe tickets.

ANS can advertise the seller's inducement of the tickets



5. Which of the following statements would trigger an agent having the buyersign an

Agency Disclosure Statement?

A. "I would like to set an appointment to see the house at 229 Main Street."

B. "How many bedrooms does the house at 119 Main Street have?" C. "You'reone of three

agents that I'm interviewing, why should I work you and your company?" D. "I'm ready

to write on offer on the property."
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ANS I'm ready to writean offer on the property



6. A seller has told his listing agent that if sells the property within the first twoweeks of

listing, the seller will give the agent a $2,000 bonus. Under which of the following

circumstances could the agent be paid the bonus?

A. If the agent owns the real estate company. B. If he receives the bonus fromhis broker.

C. If the KREC gives the agent consent to receive the bonus. D. Ifthe agent has a broker's

license, not a sales associate license.

ANS If he receivesthe bonus from his broker



7. Agent John has an appointment with a seller to list a property.The agent ex-plained the

office policies and told the seller that the advertising would consistof internet ads, the yard

sign, and newspaper adverting twice a week. After two months on the market, the agent

had not advertised in the newspaper. Based




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