KY REAL ESTATE EXAM QUESTIONS AND ANSWERS LATEST
UPDATED 2025/2026 A COMPLETE SOLUTION ALL ANSWERS
100% CORRECT DETAILED BEST GRADED A+ FOR SUCCESS
Exclusive Right to Sell Listing - CORRECT ANSWERS Listing contract where owner
appoints a real estate broker as his or her exclusive agent for a designated period of time to sell
the property on the owner's terms and agrees to pay broker a commission when the property is
sold by the broker, owner, or another broker
Earnest Money - CORRECT ANSWERS Money deposited by a buyer under the terms of
a contract to be forfeited if the buyer defaults
Fee Simple - CORRECT ANSWERS Highest interest in real estate recognized by law.
holder is entitled to all rights to the property
Fee Simple Absolute - CORRECT ANSWERS Maximum possible estate or right of
ownership of real property continuing forever
Fee Simple Defeasible - CORRECT ANSWERS Holder has fee simple title that may be
divested upon the occurrence of a specified or non specified event.
Fee SImple Determinable - CORRECT ANSWERS Qualified by a specific limitation.
Language used: so long as, while, or during
Fee Simple Subject to a Condition Subsequent - CORRECT ANSWERS If estate is no
longer used for reason conveyed it reverts to original grantor by right of reentry
Fully Amortized Loan - CORRECT ANSWERS Loan consisting of equal, regular payments
satisfying the total payment of principal and interest by the due date
Felony Conviction - CORRECT ANSWERS Being convicted of a felony; license is revoked
, KY REAL ESTATE EXAM QUESTIONS AND ANSWERS LATEST
UPDATED 2025/2026 A COMPLETE SOLUTION ALL ANSWERS
100% CORRECT DETAILED BEST GRADED A+ FOR SUCCESS
Graduated Lease - CORRECT ANSWERS Lease amount increases over certain amount of
time. EX: $450 for 5 years; $500 next 5 years etc.
General Lein - CORRECT ANSWERS Right of a creditor to have all of a debtor's property
both real and personal to satisfy a debt
Gross Sales Price - CORRECT ANSWERS ...
Home Inspection - CORRECT ANSWERS ...
HUD-1 - CORRECT ANSWERS Form that itemizes fees and services charged to a
borrower and seller during a real estate transaction
Income Approach - CORRECT ANSWERS Estimating value of an income producing
property through capitalization of the annual net income expected to be produced by the
property during its remaining useful life
Joint Tenants - CORRECT ANSWERS Ownership of real estate between two or more
parties who have been named in one conveyance as joint tenants. Upon death of a joint tenant
the decent's interests passes to the surviving joint tenant or tenants by the right of survivorship
License Expires - CORRECT ANSWERS When licensee fails to renew it, does not
complete continuing education
Lead Paint 1978 - CORRECT ANSWERS 75% of houses built before 1978 used lead
based paint, can cause damage to body
UPDATED 2025/2026 A COMPLETE SOLUTION ALL ANSWERS
100% CORRECT DETAILED BEST GRADED A+ FOR SUCCESS
Exclusive Right to Sell Listing - CORRECT ANSWERS Listing contract where owner
appoints a real estate broker as his or her exclusive agent for a designated period of time to sell
the property on the owner's terms and agrees to pay broker a commission when the property is
sold by the broker, owner, or another broker
Earnest Money - CORRECT ANSWERS Money deposited by a buyer under the terms of
a contract to be forfeited if the buyer defaults
Fee Simple - CORRECT ANSWERS Highest interest in real estate recognized by law.
holder is entitled to all rights to the property
Fee Simple Absolute - CORRECT ANSWERS Maximum possible estate or right of
ownership of real property continuing forever
Fee Simple Defeasible - CORRECT ANSWERS Holder has fee simple title that may be
divested upon the occurrence of a specified or non specified event.
Fee SImple Determinable - CORRECT ANSWERS Qualified by a specific limitation.
Language used: so long as, while, or during
Fee Simple Subject to a Condition Subsequent - CORRECT ANSWERS If estate is no
longer used for reason conveyed it reverts to original grantor by right of reentry
Fully Amortized Loan - CORRECT ANSWERS Loan consisting of equal, regular payments
satisfying the total payment of principal and interest by the due date
Felony Conviction - CORRECT ANSWERS Being convicted of a felony; license is revoked
, KY REAL ESTATE EXAM QUESTIONS AND ANSWERS LATEST
UPDATED 2025/2026 A COMPLETE SOLUTION ALL ANSWERS
100% CORRECT DETAILED BEST GRADED A+ FOR SUCCESS
Graduated Lease - CORRECT ANSWERS Lease amount increases over certain amount of
time. EX: $450 for 5 years; $500 next 5 years etc.
General Lein - CORRECT ANSWERS Right of a creditor to have all of a debtor's property
both real and personal to satisfy a debt
Gross Sales Price - CORRECT ANSWERS ...
Home Inspection - CORRECT ANSWERS ...
HUD-1 - CORRECT ANSWERS Form that itemizes fees and services charged to a
borrower and seller during a real estate transaction
Income Approach - CORRECT ANSWERS Estimating value of an income producing
property through capitalization of the annual net income expected to be produced by the
property during its remaining useful life
Joint Tenants - CORRECT ANSWERS Ownership of real estate between two or more
parties who have been named in one conveyance as joint tenants. Upon death of a joint tenant
the decent's interests passes to the surviving joint tenant or tenants by the right of survivorship
License Expires - CORRECT ANSWERS When licensee fails to renew it, does not
complete continuing education
Lead Paint 1978 - CORRECT ANSWERS 75% of houses built before 1978 used lead
based paint, can cause damage to body
