Kentucky real Estate Practice Exam.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/Kentucky%20real%20E
Kentucky real Estate Practice Exam
1. There can be no more than members of any political party serving onthe
Commission at one time.
ANS four
2. A rebate could be
- a TV
-A gift certificate
- a return of paid commissions
-none of the above
ANS a return of paid commissions
3. The Commission has the ability to conduct a(n) when alleged
escrow actions warrant emergency action.
-trial
-dispute
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,Kentucky real Estate Practice Exam.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/Kentucky%20real%20E
-investigation
-emergency hearing
ANS emergency hearing
4. The seller's disclosure form must be completed
ANS at the time of the listing
5. A net listing is defined as listing in which the seller obtains a specific priceand the
agent receives
-a state commission
-the rest of the profit
-nothing
-none of the above
ANS the rest of the profit
6. If a Kentucky licensee wants to promote an out-of-state property in the Stateof Kentucky,
they MUST
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,Kentucky real Estate Practice Exam.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/Kentucky%20real%20E
-seek permission from that state
-obtain a license in that state
-seek permission from the attorney general
-seek permission from the Commission
ANS seek permission from the Commission
7. Eloise is representing a buyer for a property. The buyer looks at a property that is
actually owned by Eloise and her husband, Lennie and listed by Eloise. Eloise does not
mention this fact to the buyer. Eloise is in violation of licenselaw for
ANS
undisclosed dual agency
8. A licensee must report to the Commission if he or she
-has an errors and omissions claim filed against him or she
-receives a lawsuit in the mail
-leaves the state
-is convicted of the felony
ANS is convicted of the felony
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,Kentucky real Estate Practice Exam.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/Kentucky%20real%20E
9. A broker is required to retain which of the following documents form each
transaction?
-closing statements
-agency forms
4 of 36 8/8/2024, 3:06
Kentucky real Estate Practice Exam
1. There can be no more than members of any political party serving onthe
Commission at one time.
ANS four
2. A rebate could be
- a TV
-A gift certificate
- a return of paid commissions
-none of the above
ANS a return of paid commissions
3. The Commission has the ability to conduct a(n) when alleged
escrow actions warrant emergency action.
-trial
-dispute
1 of 36 8/8/2024, 3:06
,Kentucky real Estate Practice Exam.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/Kentucky%20real%20E
-investigation
-emergency hearing
ANS emergency hearing
4. The seller's disclosure form must be completed
ANS at the time of the listing
5. A net listing is defined as listing in which the seller obtains a specific priceand the
agent receives
-a state commission
-the rest of the profit
-nothing
-none of the above
ANS the rest of the profit
6. If a Kentucky licensee wants to promote an out-of-state property in the Stateof Kentucky,
they MUST
2 of 36 8/8/2024, 3:06
,Kentucky real Estate Practice Exam.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/Kentucky%20real%20E
-seek permission from that state
-obtain a license in that state
-seek permission from the attorney general
-seek permission from the Commission
ANS seek permission from the Commission
7. Eloise is representing a buyer for a property. The buyer looks at a property that is
actually owned by Eloise and her husband, Lennie and listed by Eloise. Eloise does not
mention this fact to the buyer. Eloise is in violation of licenselaw for
ANS
undisclosed dual agency
8. A licensee must report to the Commission if he or she
-has an errors and omissions claim filed against him or she
-receives a lawsuit in the mail
-leaves the state
-is convicted of the felony
ANS is convicted of the felony
3 of 36 8/8/2024, 3:06
,Kentucky real Estate Practice Exam.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/Kentucky%20real%20E
9. A broker is required to retain which of the following documents form each
transaction?
-closing statements
-agency forms
4 of 36 8/8/2024, 3:06
