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KY Real Estate Exam 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert)
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KY Real Estate Exam 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert)
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KY Real Estate Exam.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/KY%20Real%20EstaKY REAL ESTATE EXAM
1. Accretion
ANS Increase of land by deposit of sand or soil washed up naturally froma river, lake or sea
2. ADATenant
ANS Tenant with disability. Must accommodate for tenants/residents withdisabilities. Priority is
to get party to the door. Can make changes, must be giving parking if available, do not have to
ask to make changes
3. Broker's License
ANS License to act as intermediary on behalf of others for a com-mission. Bringing together of
parties interested in making a real estate transaction.
4. Bilateral Contract
ANS All parties are legally bound to to act as prescribed
5. Unilateral Contract
ANS One party is bound to contract or act
6. Brownfields
ANS Defunct, derelict, or abandoned commercial or industrial sites,many have toxic wastes
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7. Condemnation
ANS Proceeding to exercise the power of eminent domain
8. Commingling
ANS Illegal act of placing client or customer funds with personal funds.
9. Commission Earned
ANS payment to a broker service for sale or purchase of aproperty; usually a percentage
10. Cooperative
ANS Residential multi-unit building whose title is held by a trust or corporation that is owned
and operated for the people living within the building whoare the beneficial owners of the trust
or shareholders of the corporation.
11. Commission Split
ANS Commission earned from selling a property is split betweenlicensee and principal broker
12. Civil Rights Act of 1866
ANS An act that prohibits racial discrimination in the saleand rental of housing
13. Customer
ANS The third party nonrepresented consumer for who some level ofservice is provided
14. Client
ANS The principal
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15. Dual Agency
ANS Representing both parties for a transaction.Unethical unless bothparties agree to it
16. Dower and Curtsy
ANS Dower
Wife acquires property her husband held or ac-quired during marriage if he dies.
Curtsy
A life estate given to surviving husband in real estate owned by his deceasedwife
17. Deed INTrust
ANS Grants a trustee under a land trust full of power to sell, mortgage,and subdivide a parcel of
real estate. The beneficiary controls the trustees use of these powers.
18. Trust Deed; Deed OF Trust
ANS Used to create a mortgage lein by which the borrower conveys title to a trustee (third party)
who holds it as security for the benefitof the note holder (lender)
19. Delivery & Acceptance
ANS Title is delivered by grantor and accepted by grantee
20. Devise
ANS Gift of property through a will
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