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Below are free Kentucky real estate practice exam questions that will closely resemble your licensing exam. Review these questions and see what you know! The answers are provided beneath the question set.
1. If a licensee fails to renew her license, when will the Kentucky Real Estate Commission cancel it?
- April 1
- December 31
- June 15
- May 31
2. You’re acting as a buyer’s agent in Kentucky. Your client has made an offer for a home, but the seller isn’t represented by a real estate agent. If the seller completes the Seller’s Disclosure of Property Conditions form, by what time do you need to deliver it to your buyer client?
- "At any time prior to closing
- Before delivering the offer to the seller
- Within 120 hours after making the offer
- Within 24 hours of a completed home inspection
3. What does a broker have to do in Kentucky to maintain their right to place a lien on a residential property?
- Notify the county clerk of the lien right
- Notify the court of their right to lien on the property
- Obtain the buyer's agreement in writing to compensate the broker for broker services rendered.
- Pay a $25 lien fee to the client at the time of signing a brokerage agreement
4. Anton, a Kentucky real estate licensee, has signed an exclusive right-to-sell brokerage agreement with a seller client, Jeannie. Which of the following statements is true about their agency relationship?
- Anton can’t act as a dual agent in the transaction.
- Anton must work exclusively with Jeannie and no other clients engaged by the firm.
- Jeannie agrees to have Anton represent her, but she won’t owe him a commission if she brings a buyer to the table.
- Jeannie will work exclusively with Anton and his brokerage firm.
5. Are Kentucky closing companies permitted to disburse commission checks directly to licensees at closing?
- No, the closing company isn’t permitted to directly disburse to a licensee.
- Yes, as long as the brokerage firm authorizes it.
- Yes, as long as the licensee holds a broker’s license.
- Yes, but only if the principal broker also attends the closing.
6. Todd, a Kentucky licensee, is working with a seller client who has a written agency agreement with Todd's brokerage firm. Based on Kentucky law, which of the following duties does Todd and his brokerage firm owe his client?
- Accept the buyer’s earnest money deposit on the seller’s behalf and personally hold onto it until closing.
- Answer questions about and assist with negotiating and presenting offers, counteroffers, notices, and contingencies.
- Check to make sure there are no issues with the property’s title and, if there are, work with the seller to remove them.
- Review each offer and only submit those he thinks might be acceptable to his client.
7. Which of these Kentucky brokers is NOT required to maintain a place of business in the state?
- Fred, who's a non-resident broker, chooses not to maintain a business in either his home state or Kentucky
- Jerry, who’s an independent broker
- Lynn, who’s an out-of-state resident and maintains her place of business in that state
- Martha, who lives in a rural area of the state
8. General brokerage and listing-specific advertising in Kentucky must contain which of the following?
- Associate broker's name
- Brokerage name
- License number of listing licensee
- Physical address of brokerage firm
For a more comprehensive view into the types of questions you can expect on the exam, sign up for our free assessment. You’ll have the chance to review a 99-question real estate practice exam at no cost to you. Note that answers are only provided upon purchasing Exam Prep.
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