KY Real Estate Practice - Law Portion.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/KY%20Real%20Estate
KY Real Estate Practice - Law Portion
1. Which of the following fees that a broker charges an agent is a violation of the
Kentucky Revised Statutes?
- desk fee
- long distance charges
- affiliation fee
- coffee fee
ANS affiliation fee
2. Most of the time (with certain law exceptions) licensed Kentucky brokers shall
maintain a definite place of business in what state?
- Kentucky
- the state in which the broker was born in
- the state where the broker spends the most time in
- any state except Kentucky
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ANS Kentucky
-
3. A licensed sales associate that has at least 24 months of experience and has their broker's
permission may take over the management duties in a branch office within 100 miles of
the main office. Which of the following statements about acceptable real estate
experience is correct?
- the associate must have worked an average of at least 10 hours per week
- the associate must have worked an average of at least 20 hours per week
- the associate's previous years' sales production must have been at least
$500,000
- he associate's previous years' sales production must have been at least
$1,000,000
ANS the associate must have worked an average of at least 20 hours per week
4. A principal broker must register a new branch office within days of the
creation of the branch office.
- 1 day
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- 3 days
- 10 days
- 30 days
ANS 10 days
-
5. In Kentucky, the minimum age to obtain a real estate license is
- 16 years old
- 18 years old
- 20 years old
- 21 years old
ANS 18 years old
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6. "The examination shall be of the scope and wording sufficient in the judg- ment of the
commission to establish the of the applicant to
act as a broker or sales associate in a manner to protect the interests of the public."
- competency
- professionalism
- proficient
- qualified
ANS competency
-
7. Who is responsible for payment of any fees to the FBI for a criminal back- ground
check?
- the applicant
- the applicant's broker
- the FBI
- the KREC
ANS the applicant
-
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