Ky real estate 2 - Study guides, Class notes & Summaries

KY Real Estate 2 Questions and Answers Graded A Which of the following is true regarding the Kentucky Real Estate Commission? A.) Commissioners serve staggered 6-year terms. B.) Seven members are elected to 5-year terms. C.) One member must represent the public. D.) Members are elected to office by the public. C The Kentucky Real Estate Commission is empowered to A.) enact laws to regulate the real estate industry. B.) establish uniform standards for brokerage operations such as commissio...

KY Real Estate 2 Already Graded A+ A broker may file a lien against a property A.) only if the client has entered into a written agreement to compensate the broker for brokerage services B.) no later then 30 days before a listing agreement expires C.) only when there is a net listing agreement D.) regardless of whether the broker was able to produce a willing and able buyer for a seller's property ️A A broker's escrow account A.) must be interest bearing B.) may be used f...

CHAPTER 3 Mortgage Loan Foundations: The Time Value of Money TRUE/FALSE 1. In order to solve a compounding problem, you must know all four of the variables in order to solve for the fifth variable. (T) 2. One way to calculate the present value of a single payment is with the following formula: PV = FV * (1+i)n. (F) 3. At 6%, the present value of a $1 payment in 12 months is .. At 7%, the present value of a $1 payment in 12 months is .. (F) 4. The future value of $800 deposited ...

Which of the following is true regarding the Kentucky Real Estate Commission? A.) Commissioners serve staggered 6-year terms. B.) Seven members are elected to 5-year terms. C.) One member must represent the public. D.) Members are elected to office by the public. correct answersC The Kentucky Real Estate Commission is empowered to A.) enact laws to regulate the real estate industry. B.) establish uniform standards for brokerage operations such as commissions. C.) enforce license laws a...

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. Dino owns property rights located on Lake Michigan where he docks his yacht. His water rights are called: - Littoral rights Which of the following is NOT a duty of the real estate agent: - To acce...

Which of the following is true regarding the Kentucky Real Estate Commission? A.) Commissioners serve staggered 6-year terms. B.) Seven members are elected to 5-year terms. C.) One member must represent the public. D.) Members are elected to office by the public. C The Kentucky Real Estate Commission is empowered to A.) enact laws to regulate the real estate industry. B.) establish uniform standards for brokerage operations such as commissions. C.) enforce license laws and discipl...

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 the time when circumstances would reasonably have put the aggrieved party on notice of the cause of action? - 2 Years The Kentucky Real Estate Commission is responsible for what? - Protecting the public interest through regulations, examinations and licensing of KY real estate licensees. Broker - Any person who i...

KY Real Estate Final Exam Practice 2024 Questions With Answers Graded A+

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 ...

KY Real Estate Final Exam Practice 2024 Questions With Answers Graded A+