semplr.

Exams · Certifications · Licensing

Real Estate Salesperson Exam — National Portion

Agency (KY): practice questions

Our Real Estate (National) bank has 5 questions on this topic. Here are 5 of them with answers; the full mock exam draws from every topic, like the real one.

Start the free mock exam

Question 1 · Kentucky

Under Kentucky law, is information shared with one licensee in a firm imputed to the firm as a matter of law?

  1. No, no exchange of information is imputed
  2. Yes, it is imputed to the principal broker
  3. Only if the licensees share an office
  4. Yes, but only in commercial transactions
Show the answer

A. No, no exchange of information is imputed — KRS 324.121(3).

Question 2 · Kentucky

What must the Kentucky Agency Consent Agreement disclose, if applicable?

  1. Any other offers the licensee has written that month
  2. The licensee's sales volume over the last two years
  3. Known business, family, or personal ties to another party
  4. The commission split agreed between the two cooperating brokers
Show the answer

C. Known business, family, or personal ties to another party — 201 KAR 11:121 Section 6(2)(c).

Question 3 · Kentucky

Which is one of the duties a Kentucky licensee owes a prospective client under commission rules?

  1. Confidentiality
  2. Obedience to lawful instructions
  3. Accounting
  4. Loyalty
Show the answer

A. Confidentiality — 201 KAR 11:121 Section 1(1)(e): good faith, fair dealing, and confidentiality; loyalty, obedience and accounting are owed to clients.

Question 4 · Kentucky

Under Kentucky designated agency, whom may a principal broker NOT designate as a designated agent?

  1. A sales associate
  2. Any affiliated broker
  3. A designated manager
  4. Themselves
Show the answer

D. Themselves — KRS 324.121(1).

Question 5 · Kentucky

When a principal broker designates separate agents for the buyer and seller in the same deal, who is deemed the dual agent?

  1. No one; dual agency is barred
  2. The agent who obtained the listing
  3. Both designated agents, acting jointly for both parties
  4. The principal broker or a designated manager
Show the answer

D. The principal broker or a designated manager — KRS 324.121(2).

More Real Estate (National) topics