KY REAL ESTATE FINAL EXAM PRACTICE
ACTUAL EXAM PAPER 2026 QUESTIONS
WITH ANSWERS GRADED A+
⩥ broker Dean realizes he has relocation buyers. What is something he
should focus on with these buyers? Answer: finding a property with
good resale value
⩥ real estate licensees should know enough about building ordinances to
be able to... Answer: alert clients of potential problems in a home
⩥ if an industrial property is described as "special-purpose" it is...
Answer: unsuitable for many uses and processes.
⩥ during the final walk-through a buyer sees that the seller did not
remove a downed tree. What is the best way of handling this? Answer: at
the closing the buyer could ask for a credit from the seller to remove the
downed tree.
⩥ what is the main purpose of the Kentucky Real Estate Commission?
Answer: to put into effect and make known the administrative
regulations to effectively carry out and enforce the provisions of the
Kentucky statutes governing real estate.
,⩥ who must a principal broker supervise in a real estate office? Answer:
all licensees Affiliated to the principal broker and all other unlicensed
employees at that office.
⩥ broker Hannah just received a $5,000 escrow money deposit how long
does she have to deposit it under Kentucky law? Answer: without
unreasonable delay
⩥ what type of insurance is mandatory for all active licensees? Answer:
errors and omissions insurance
⩥ sales associate Nika is showing a property with an electronic lockbox
how should she access the property? Answer: by using the eKEY
smartphone application
⩥ what penalties May a circuit court impose on a person found violating
any provision of Kentucky License Law? Answer: a fine of between
$100 and $1,000 and a jail sentence of up to six months.
⩥ why is designated agency a good alternative to traditional dual
agency? Answer: even though the same broker represent each party, both
the buyer and the seller have a licensee who exclusively acts as their
agent in the transaction.
, ⩥ which of the following actions is illegal in Kentucky? Answer: acting
for more than one party in a transaction with the knowledge of all parties
for him a licensee acts
⩥ why should broker Taylor create a website for her brokerage? Answer:
to brand her firm with a visual mission statement.
⩥ legislation became effective in July of 1999 that requires a lender to
drop the PMI requirement when the loan-to-value ratio reaches...
Answer: 78% of the original value of the property.
⩥ before ordering disciplinary action against a licensee, the commission
must... Answer: order a hearing.
⩥ broker Pearl represents buyer Emma. Pearl heard that the seller Misty
will accept $20,000 less than the listed price. Under which duty is Pearl
obligated to share this information with Emma? Answer: loyalty
⩥ what type of agency cannot be revoked by the principal nor is
terminated if the principal dies? Answer: agency coupled with an interest
⩥ licensee Chad works for broker Michael. License each ad has a listing
agreement was Stellar Ray. Licensee Chad decided to transfer Brokers.
What will most likely happen with Chad's listing? Answer: it will stay
with Michael's brokerage.
ACTUAL EXAM PAPER 2026 QUESTIONS
WITH ANSWERS GRADED A+
⩥ broker Dean realizes he has relocation buyers. What is something he
should focus on with these buyers? Answer: finding a property with
good resale value
⩥ real estate licensees should know enough about building ordinances to
be able to... Answer: alert clients of potential problems in a home
⩥ if an industrial property is described as "special-purpose" it is...
Answer: unsuitable for many uses and processes.
⩥ during the final walk-through a buyer sees that the seller did not
remove a downed tree. What is the best way of handling this? Answer: at
the closing the buyer could ask for a credit from the seller to remove the
downed tree.
⩥ what is the main purpose of the Kentucky Real Estate Commission?
Answer: to put into effect and make known the administrative
regulations to effectively carry out and enforce the provisions of the
Kentucky statutes governing real estate.
,⩥ who must a principal broker supervise in a real estate office? Answer:
all licensees Affiliated to the principal broker and all other unlicensed
employees at that office.
⩥ broker Hannah just received a $5,000 escrow money deposit how long
does she have to deposit it under Kentucky law? Answer: without
unreasonable delay
⩥ what type of insurance is mandatory for all active licensees? Answer:
errors and omissions insurance
⩥ sales associate Nika is showing a property with an electronic lockbox
how should she access the property? Answer: by using the eKEY
smartphone application
⩥ what penalties May a circuit court impose on a person found violating
any provision of Kentucky License Law? Answer: a fine of between
$100 and $1,000 and a jail sentence of up to six months.
⩥ why is designated agency a good alternative to traditional dual
agency? Answer: even though the same broker represent each party, both
the buyer and the seller have a licensee who exclusively acts as their
agent in the transaction.
, ⩥ which of the following actions is illegal in Kentucky? Answer: acting
for more than one party in a transaction with the knowledge of all parties
for him a licensee acts
⩥ why should broker Taylor create a website for her brokerage? Answer:
to brand her firm with a visual mission statement.
⩥ legislation became effective in July of 1999 that requires a lender to
drop the PMI requirement when the loan-to-value ratio reaches...
Answer: 78% of the original value of the property.
⩥ before ordering disciplinary action against a licensee, the commission
must... Answer: order a hearing.
⩥ broker Pearl represents buyer Emma. Pearl heard that the seller Misty
will accept $20,000 less than the listed price. Under which duty is Pearl
obligated to share this information with Emma? Answer: loyalty
⩥ what type of agency cannot be revoked by the principal nor is
terminated if the principal dies? Answer: agency coupled with an interest
⩥ licensee Chad works for broker Michael. License each ad has a listing
agreement was Stellar Ray. Licensee Chad decided to transfer Brokers.
What will most likely happen with Chad's listing? Answer: it will stay
with Michael's brokerage.
