KY real estate final exam practice with Verified Answers
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Course
KY real estate
Institution
KY Real Estate
KY real estate final exam practice with Verified Answers
1. what happens with a Judicial foreclosure? the mortgaged
property is sold
under the supervi-
sion of a court
2. broker Dean realizes he has relocation buyers. What
is something he should focus on with these buyers?
3. real estate lic...
KY real estate final exam practice with Verified Answers
1. what happens with a Judicial foreclosure? the mortgaged
property is sold
under the supervi-
sion of a court
2. broker Dean realizes he has relocation buyers. What finding a proper-
is something he should focus on with these buyers? ty with good resale
value
3. real estate licensees should know enough about alert clients of po-
building ordinances to be able to... tential problems in
a home
4. if an industrial property is described as "special-pur- unsuitable for
pose" it is... many uses and
processes.
5. during the final walk-through a buyer sees that the at the closing the
seller did not remove a downed tree. What is the best buyer could ask for
way of handling this? a credit from the
seller to remove
the downed tree.
6. what is the main purpose of the Kentucky Real Estate to put into effect
Commission? and make known
the administrative
regulations to ef-
fectively carry out
and enforce the
provisions of the
Kentucky statutes
governing real es-
tate.
7. who must a principal broker supervise in a real estate all licensees Affili-
office? ated to the princi-
pal broker and all
other unlicensed
, KY real estate final exam practice with Verified Answers
employees at that
office.
8. broker Hannah just received a $5,000 escrow money without unreason-
deposit how long does she have to deposit it under able delay
Kentucky law?
9. what type of insurance is mandatory for all active errors and omis-
licensees? sions insurance
10. sales associate Nika is showing a property with an by using the eKEY
electronic lockbox how should she access the prop- smartphone appli-
erty? cation
11. what penalties May a circuit court impose on a person a fine of between
found violating any provision of Kentucky License $100 and $1,000
Law? and a jail sen-
tence of up to six
months.
12. why is designated agency a good alternative to tradi- even though the
tional dual agency? same broker rep-
resent each party,
both the buyer and
the seller have a li-
censee who exclu-
sively acts as their
agent in the trans-
action.
13. which of the following actions is illegal in Kentucky? acting for more
than one party in
a transaction with
the knowledge of
all parties for him a
licensee acts
14. why should broker Taylor create a website for her to brand her firm
brokerage? with a visual mis-
sion statement.
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