Question: Which statement accurately describes the requirement to hold a real estate license in Kentucky?

Which statement accurately describes the requirement to hold a real estate license in Kentucky? It is unlawful for any person who is not licensed as a real estate broker or sales associate to engage in or practice real estate. What type of insurance is mandatory for all active licensees? sub-prime loans.

Which of the following is true regarding reciprocal Real Estate Licensing in Kentucky?

Which of the following is true regarding reciprocal real estate licensing in Kentucky? Applicants must pass the Kentucky law portion of the real estate licensing exam and meet a number of other requirements to be eligible for a reciprocal license. … KREC may suspend a licensee’s license for up to six months.

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For what transaction type is a seller’s disclosure of conditions form required?

For what transaction type is a “seller’s disclosure of conditions form” required? For sales and purchases involving single-family residential real estate dwellings.

Which of these actions may a Kentucky listing agent take when acting for the seller of a residential property?

Which of these actions may a Kentucky listing agent take when acting for the seller of a residential property? -Advise the seller not to complete the Seller’s Disclosure of Property Conditions form in order to avoid liability.

How many days do Kentucky licensees have to notify KREC about changes to their situation that affect their license?

(7) A licensee shall be subject to discipline consistent with the commission’s authority in KRS 324.160(1) for a violation of KRS 324.160(4)(t) if the licensee fails to submit notification to the commission of any changes required by this section within ten (10) days of the change.

What are the requirements for a Florida real estate license?

General Real Estate License Florida Requirements

  • Be at least 18 years of age.
  • High school diploma or equivalent.
  • United States Social Security number.
  • Complete 63 hours of approved pre-licensing instruction within the last two years.
  • Pass the Florida sales associate exam.
  • Pay the $89 fee and get fingerprinted.

Does Georgia have reciprocity for real estate license?

Georgia allows real estate license reciprocity with every state in the U.S. except for Florida. … Submit proof of a current (not lapsed or expired) real estate license from another state.

Which statement best describes the requirement to hold a real estate license in Kentucky quizlet?

which statement accurately describes the requirement to hold a real estate license in Kentucky? it is unlawful for any person who is not licensed as a real estate broker or sales associate to engage in or practice real estate.

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Under what type of contract is a seller obligated to sell?

He decided to sell his interest. He signed an agreement without informing the other two owners.

What’s the purpose of the agency disclosure statement used in Kentucky residential transactions?

Agency Disclosure Statement (201 KAR 11:121 – Section 6) – If an offer is presented to a party (from buyer to seller or seller to buyer), the receiving party’s agent must provide the appropriate disclosure statement to advise their client of their role in the proposed transaction.

Which of the following is the Kentucky Real Estate Commission empowered to do?

The Kentucky Real Estate Commission protects the public interest through regulation, examination and licensing of Kentucky real estate sales associates and brokers pursuant to Kentucky Revised Statutes, Chapter 324. Contact us at 502-564-7760 or click here for more contact information.

Which of the following is a power of the Kentucky Real Estate Commission?

The statutes give the commission broad powers in regulating the conduct of Kentucky real estate licensees. That power includes everything from issuing and revoking licenses to the supervision of brokers handling client funds.

How do I take the real estate exam in Kentucky?

All applicants must:

  1. Be 18 years of age;
  2. Have attained a high school diploma or GED; (see also: Foreign Transcripts )
  3. Completed all real estate pre-license courses prior to taking the real estate examination;
  4. Complete FBI criminal background check; and.
  5. Must apply within sixty (60) days of passing their exam.

Which of the following statements about a broker placing a lien against a property in Kentucky is correct?

Which of the following statements about a broker placing a lien against a property in Kentucky is correct? A broker may acquire a lien against newly constructed property if the buyers agree in writing to compensate the broker for broker services rendered.

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Which of the following is a purpose of the Kentucky real estate Education Research and Recovery Fund?

The real estate education, research and recovery fund has several purposes, including: Paying outstanding court orders against licensees who have caused financial harm upon citizens through improper, fraudulent or dishonest conduct. Investment. Advancing education and research in the field of real estate.

Who selects the Kentucky Real Estate Commission Chairperson?

The Kentucky real estate commissioners are appointed by: State governor.