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

Does Kentucky have dower laws?

A	Yes
B	No

Question 2

What tenancies does Kentucky allow?

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

Question 3

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

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

Question 4

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

A	Agent
B	Buyer
C	Lessee
D	Lessor

Question 5

A Salesperson license fee costs how much?

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

Question 6

The license law is administered by:

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

Question 7

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

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

Question 8

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

Question 9

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

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

Question 10

What is a holographic will?

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

Question 11

Does Kentucky has homestead laws?

A	Yes
B	No

Question 12

What term means "going to the state?"

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

Question 13

Standing trees would be considered:

A	Personal Property
B	Chattels
C	Real Property
D	Emblements

Question 14

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	Convicted of a felony
C	Depositing his/her clients escrow money into a personal account
D	Being authorized to accept and excessive commission.

Question 15

Does Kentucky participate in reciprocity with other states?

A	Yes
B	No

Question 16

Is Kentucky a community property state?

A	Yes
B	No

Question 17

Which is not necessary for a valid contract?

A	offer
B	legal object
C	acceptance
D	due date

Question 18

What is homestead protection?

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

Question 19

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

A	novation
B	acknowledgement
C	Premises
D	Habendum

Question 20

How often is Continuing Education due?

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

Question 21

Does Kentucky allow Holographic wills?

A	Yes
B	No

Question 22

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