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

Question 2

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 have a Bachelors degree
C	Must sit and pass the required exam
D	Must be 25 or older

Question 3

How often is Continuing Education due?

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

Question 4

Does Kentucky has homestead laws?

A	No
B	Yes

Question 5

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

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

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	In most circumstances, except when the buyer and seller are related
B	Only when both buyer and seller give informed consent to this arrangement
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 a holographic will?

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

Question 8

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

A	Premises
B	novation
C	Habendum
D	acknowledgement

Question 9

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 seller has agreed to pay 1% of the closing costs
C	The interest rate on the mortgage loan has been lowered by 2% for each point charged
D	The interest rate on the mortgage loan has been lowered by 1% for each point charged

Question 10

Which is not necessary for a valid contract?

A	due date
B	legal object
C	offer
D	acceptance

Question 11

What tenancies does Kentucky allow?

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

Question 12

Is Kentucky a community property state?

A	Yes
B	No

Question 13

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

A	Lessee
B	Lessor
C	Agent
D	Buyer

Question 14

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

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

Question 15

Does Kentucky allow Holographic wills?

A	Yes
B	No

Question 16

What term means "going to the state?"

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

Question 17

Does Kentucky participate in reciprocity with other states?

A	Yes
B	No

Question 18

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

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

Question 19

Standing trees would be considered:

A	Emblements
B	Real Property
C	Chattels
D	Personal Property

Question 20

Does Kentucky have dower laws?

A	Yes
B	No

Question 21

A Salesperson license fee costs how much?

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

Question 22

What is homestead protection?

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