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

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

A	Buyer
B	Agent
C	Lessee
D	Lessor

Question 2

What tenancies does Kentucky allow?

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

Question 3

Is Kentucky a community property state?

A	Yes
B	No

Question 4

Does Kentucky has homestead laws?

A	Yes
B	No

Question 5

Does Kentucky allow Holographic wills?

A	Yes
B	No

Question 6

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 7

What is homestead protection?

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

Question 8

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

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

Question 9

Does Kentucky participate in reciprocity with other states?

A	No
B	Yes

Question 10

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 11

Does Kentucky have dower laws?

A	No
B	Yes

Question 12

Standing trees would be considered:

A	Real Property
B	Emblements
C	Personal Property
D	Chattels

Question 13

A Salesperson license fee costs how much?

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

Question 14

What is a holographic will?

A	a will that has been approved by each family member.
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 displays in 3D

Question 15

What term means "going to the state?"

A	escheat
B	police power
C	Taxation
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 16

The license law is administered by:

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

Question 17

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

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

Question 18

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

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

Question 19

How often is Continuing Education due?

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

Question 20

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

A	Premises
B	novation
C	Habendum
D	acknowledgement

Question 21

Which is not necessary for a valid contract?

A	acceptance
B	due date
C	offer
D	legal object

Question 22

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

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

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Kentucky Real Estate Exam Prep

KS Salesperson Practice Exam

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Kentucky State Section

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