Kentucky Real Estate Exam Prep

KS Salesperson Practice Exam

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Kentucky Sample Practice Real Estate Exam Questions and Answers

Kentucky State Section

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Question 1

The license law is administered by:

A	Commission on Real Estate in Kentucky
B	Department of Real Estate
C	Kentucky Real Estate Commission
D	Kentucky Department of Real Estate

Question 2

What term means "going to the state?"

A	police power
B	Taxation
C	escheat
D	Eminent Domain
E	Escheat is if someone dies and there is no one to inherit or no will the property goes to the state.

Question 3

Which of the following is a landlord's option for a tenant not paying the rent?

A	shutoff the gas
B	shut off the power
C	lock the tenant out of the apartment
D	unlawful detainer action in court

Question 4

Which of the following is required for an applicant to receive a Real Estate License?

A	Must sit and pass the required exam
B	Must have a Bachelors degree
C	Must be 25 or older
D	Must have lived in the state for more than a year

Question 5

Who is responsible for maintaining a habitable property and for complying with local housing and building codes?

A	Buyer
B	Lessee
C	Agent
D	Lessor

Question 6

Does Kentucky has homestead laws?

A	No
B	Yes

Question 7

In what circumstances, if any, can a broker in Kentucky who is serving as an intermediary representing both parties collect compensation from both the buyer and the seller?

A	Only when both buyer and seller give informed consent to this arrangement
B	In most circumstances, except when the buyer and seller are related
C	None; the broker may only collect compensation from one party to a transaction
D	Only when both buyer and seller have legal representation

Question 8

Does Kentucky participate in reciprocity with other states?

A	No
B	Yes

Question 9

What tenancies does Kentucky allow?

A	Join Tenancy
B	Both
C	Neither
D	Tenancy by the entirety

Question 10

How often is Continuing Education due?

A	every 4 years
B	every year
C	every 2 years
D	every 3 years

Question 11

Standing trees would be considered:

A	Personal Property
B	Chattels
C	Real Property
D	Emblements

Question 12

How soon can a broker receive a commission check after a closing in Kentucky?

A	When the Buyer moves in.
B	Once the seller agrees to the price.
C	Once the offer sheet is signed.
D	After the transaction is completed and funded.

Question 13

What is a holographic will?

A	a will that displays in 3D
B	a standard boiler plate will.
C	a will and testament that has been entirely handwritten and signed by the testator.
D	a will that has been approved by each family member.

Question 14

What is homestead protection?

A	Net cash remaining to investor after sale of investment property
B	Gradual subsidence of waters, leaving dry land
C	The estimated value that an asset will have at then end of it's useful life
D	The status provided to a home owner's principal residence that protects the home against judgement up to a specified amount.

Question 15

Is Kentucky a community property state?

A	Yes
B	No

Question 16

Which of the following would not put a sales person in jeopardy of losing their license in Kentucky?

A	Placing an ad claiming to be a broker when they are not.
B	Depositing his/her clients escrow money into a personal account
C	Being authorized to accept and excessive commission.
D	Convicted of a felony

Question 17

Mortgage "discount" points only apply if which of the following conditions are met?

A	The interest rate on the mortgage loan has been lowered by 2% for each point charged
B	The loan does not close and the buyer owes the lender for services rendered
C	The interest rate on the mortgage loan has been lowered by 1% for each point charged
D	The seller has agreed to pay 1% of the closing costs

Question 18

Which of the following isn't part of a deed?

A	acknowledgement
B	Habendum
C	Premises
D	novation

Question 19

Does Kentucky allow Holographic wills?

A	Yes
B	No

Question 20

Which is not necessary for a valid contract?

A	offer
B	due date
C	acceptance
D	legal object

Question 21

Does Kentucky have dower laws?

A	Yes
B	No

Question 22

A Salesperson license fee costs how much?

A	$125
B	$50
C	$60
D	$100

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Kentucky Real Estate Exam Prep

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