Champion School Of Real Estate

Property Management Agreement The business name and address of the licensed agent's company. The name and address of the owner. The address of the real estate being managed and the number of units. The date when the agreement begins and ends, and a provision stating whether the owner agrees or not to automatic annual renewal. A provision stating the method for early termination. The amount of, or the method for, computing the amount of compensation to the licensee. The amount of, or the ...

On a settlement statement the buyer can expect to see entries for property and transfer taxes Which of the following terms is NOT associated with a legal life estate? Dower, Curtesy, Community property, Homestead Community property Which of the following is an example of a conventional uninsured loan? Loan where the borrower must pay MIP, VA loan negotiated by a veteran, Loan with a loan-to-value ratio of 80%, Loan where the borrower must pay PMI Loan with a loan-to-value ration...

You represent Kelsey, who's selling her one-bedroom condominium unit in Mount Sterling. Kelsey makes a written request to the condominium association to complete the Condominium Seller Certificate. The association has ______ from the time it receives Kelsey's request to return the completed form and attachments. 10 Days 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 o...

State the physical location and web address for the Kentucky Real Estate Commission. Kentucky Real Estate Commission 10200 Linn Station Road, Suite 201 Louisville, KY 40223 (502) 429-7250 or Toll Free at Website - List the requirements to become a Kentucky Real Estate Commissioner. The Commission is made up of five (5) Commissioners and no more than three from any one political party. Commissioners serve for 4 year terms and not more than 2 consecutive terms. These 4 year terms are st...

When must license applicants apply for their license? 60 days after examination date. Errors and Omissions Insurance An agent is covered up to $100,000 for single claims and $1,000,000 for annual aggregate(multiple) claims. Does not cover fraud, criminal acts, libel, slander, sickness, or violations of the "Securities and Exchange Act". Continuing Education Anyone licensed after June 19, 1976 shall obtain 6hrs of continuing education each year and must complete it by December...

201 KAR 11:121 improper conduct This regulation was amended to eliminate duplicative information about guaranteed sales plans 201 KAR 11:145. Salesman's duties when terminating affiliation with broker Unless there is a written contract, an agent must immediately turn over any and all listing information obtained during is affiliation A licensee shall not engage in property management without A current written property management agreement A broker shall retain property m...

A real estate licensee has a buyer agency agreement. What is the seller in this situation? A customer. An optionor and an optionee make a contract for an option on a commercial piece of property. If the optionee decides to exercise his option, when must he perform? He must exercise his option under the terms of the option contract. When can a landlord evict a disabled blind or disabled tenant from the premises? If the tenant has loud parties, makes too much noise, and is constan...

Broker Licensee who has worked as a sales associate for at least 20 hours a week for the previous 24 months, and completes at least 21 hours of real estate broker education, including at least three hours of broker management skills Principal broker Broker responsible for managing the brokerage firm and supervising the sales associates who are affiliated with that firm Sales associate Licensee who is licensed to sell real estate under a principal broker's supervision Ken...

A real estate broker has been given the authority to accept and reject offers on behalf pf his client. The agent can be best described as: A special agent with limited authority A principal broker in the process of closing a real estate brokerage business may: Affiliate temporarily with another broker A real estate broker opens a branch office that is located 110 miles from his main office. The person most qualified to manage the branch office is a licensed sales associate. The a...

General Powers, Real Estate Commission Authority to issue licenses, examination and audit of records, administration of the Education Research and Recovery Fund Enforcement Powers of the Commission Investigations Hearings Appeals Sanctions include fines, license suspension, revocation, and criminal action How is Commission selected? The KAR provides the governor names, governor appoints and the commissioner's select chairperson All funds collected and expenses paid by...