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The Kentucky Real Estate Commission determined that a buyer was damaged by the fraudulent action of a licensee in the amount of $50,000. If the responsible licensee does not pay the claim, the Commission may pay out from the Real Estate Education, Research, and Recovery Fund a MAXIMUM amount of: - Answer- $20,000 An action for recovery from the Kentucky Real Estate Education, Research, and Recovery Fund MUST be commenced within how many years from actual knowledge of the cause of action or th...

If a broker's branch office is 75 miles from his main office, the person managing this branch office must: Have been licensed for 2 years averaging 20 hours per week in the business. Which of the following is NOT true regarding a sale-leaseback? The ownership of the property never transfers. Brainpower Read More 0:05 / 0:15 Dino owns property rights located on Lake Michigan where he docks his yacht. His water rights are called: Littoral rights Which of the followi...

Kentucky Real Estate Exam 2024 | Kentucky Real Estate Exam Update 2024 Questions and Correct Answers Rated A+

A person issued an initial salesperson's license must complete A) the 24-hour postlicense course by December 31 of the first renewal period. B) a 48-hour postlicense course within one year of receiving the initial license. C) a 24-hour postlicense course within the first two renewal cycles after the initial license. D) a 48-hour postlicense course within two years of receiving the initial license. - D) a 48-hour postlicense course within two years of receiving the initial license. A b...

There can be no more than _____ members of any political party serving on the Commission at one time. - four A rebate could be: - a TV -A gift certificate - a return of paid commissions -none of the above - a return of paid commissions The Commission has the ability to conduct a(n) ___________ when alleged escrow actions warrant emergency action. -trial -dispute -investigation -emergency hearing - emergency hearing The seller's disclosure form must be completed - at the time of the...

KENTUCKY REAL ESTATE FINAL EXAM ACTUAL EXAM | ALL QUESTIONS AND ANSWERS | GRADED A+ | VERIFIED ANSWERS | LATEST VERSION (JUST RELEASED)

which of the following statements is true about the Kentucky Statute of frauds and the sale of real estate? all essential terms of the contract must be in writing which of the following statements is true regarding Kentucky real estate brokerages? the principal broker may choose to use designated agency, dual agency, without designated agency or no dual agency at the brokerage if the licensee can't pay or refuses to pay an aggrieved party after being found guilty of fraud in Ken...

There can be no more than _____ members of any political party serving on the Commission at one time. four A rebate could be: - a TV -A gift certificate - a return of paid commissions -none of the above a return of paid commissions The Commission has the ability to conduct a(n) ___________ when alleged escrow actions warrant emergency action. -trial -dispute -investigation -emergency hearing emergency hearing The seller's disclosure form must be completed at the...

Jerry and Simon signed a contract so that Jerry could purchase all of Simon's restaurant equipment for one price after Simon closes his restaurant next month. The contract contains a provision that states Jerry has one year from the purchase date to file a suit relative to the purchase. After the year is up, Jerry forfeits the right. What kind of contract clause is this? A. Specific time B. Statute of limitations C. Time is of the essence D. Time of performance - Statute Of Limitations ...