4/9/25, 7:57 Kentucky State Real Estate Practice Exam (Ky Law) |
AM
KENTUCKY STATE REAL ESTATE PRACTICE EXAM (KY LAW) QUESTIONS
AND ANSWERS WITH COMPLETE SOLUTIONS
The Kentucky Real Estate Commission $20,000
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:
An action for recovery from the Kentucky Two (2) Years
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?
The Kentucky Real Estate Commission is commission or fee dispute arbitrations.
NOT responsible for the following
activities
A licensee negotiating the sale of a The licensee may be subject to possible penalty by the Kentucky Real Estate
condominium tells a prospective buyer Commission.
that the licensee absolutely guarantees
that if the buyer closes on the property
now, and resells it in a year, the buyer will
realize no less than a $10,000 profit. The
buyer purchases the condominium, and
sells it a year later at a $5,000 loss. Which
of the following situations is a
possible consequence to the
licensee?
If a sales associate's real estate Five (5) years.
license has been revoked, the
Kentucky Real Estate Commission will
NOT issue another license for a period
of how many years
from the date of revocation?
What action MUST be completed prior A Commission Hearing
to the awarding of funds from the
Kentucky Real Estate Education,
Research, and Recovery Fund?
Real estate licensees MUST obtain errors From their own insurance agent or through the Kentucky Real Estate Commission
and omissions insurance coverage in group policy.
which of the following manners?
Which of the following MUST occur The Kentucky Real Estate Commission must be notified of the new address in
when licensees change their writing by the licensee within ten days.
principal residence?
How many clock-hours of continuing Six (6) hours
education are active real estate
licensees required to attend annually if
they were
initially licensed after June 19, 1976?
1/
2
AM
KENTUCKY STATE REAL ESTATE PRACTICE EXAM (KY LAW) QUESTIONS
AND ANSWERS WITH COMPLETE SOLUTIONS
The Kentucky Real Estate Commission $20,000
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:
An action for recovery from the Kentucky Two (2) Years
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?
The Kentucky Real Estate Commission is commission or fee dispute arbitrations.
NOT responsible for the following
activities
A licensee negotiating the sale of a The licensee may be subject to possible penalty by the Kentucky Real Estate
condominium tells a prospective buyer Commission.
that the licensee absolutely guarantees
that if the buyer closes on the property
now, and resells it in a year, the buyer will
realize no less than a $10,000 profit. The
buyer purchases the condominium, and
sells it a year later at a $5,000 loss. Which
of the following situations is a
possible consequence to the
licensee?
If a sales associate's real estate Five (5) years.
license has been revoked, the
Kentucky Real Estate Commission will
NOT issue another license for a period
of how many years
from the date of revocation?
What action MUST be completed prior A Commission Hearing
to the awarding of funds from the
Kentucky Real Estate Education,
Research, and Recovery Fund?
Real estate licensees MUST obtain errors From their own insurance agent or through the Kentucky Real Estate Commission
and omissions insurance coverage in group policy.
which of the following manners?
Which of the following MUST occur The Kentucky Real Estate Commission must be notified of the new address in
when licensees change their writing by the licensee within ten days.
principal residence?
How many clock-hours of continuing Six (6) hours
education are active real estate
licensees required to attend annually if
they were
initially licensed after June 19, 1976?
1/
2
