US Real Estate Kentucky Advanced Test 7

Real Estate » Category

Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

Prepared with up-to-date content

Real Estate — Kentucky Professional (Real Estate, USA) USA — Kentucky State Real Estate License — USA

What is this test? for Real Estate Salesperson/Broker prep, USA (national + state law) — Professional (Real Estate, USA) level, USA — Kentucky.
For adults preparing for Real Estate license in the USA
Section: Real Estate — Kentucky · Education: Professional (Adult) · Part: Real Estate — Kentucky · Country: USA · Region: USA — Kentucky

Finance and real estate acumen covers markets, valuation, contracts, and budget management.

This test is designed to reinforce core concepts and help you succeed on your exams.

By solving this test of 20 questions, you can both test your knowledge and identify the topics you need to improve.

Question 1

What is a warranty deed?

A) quitclaim

B) guarantees clear title

C) option

D) lease

Question 2

What is agency in real estate?

A) broker acting for a client

B) zoning

C) ownership

D) tenancy

Question 3

What is a listing agreement?

A) purchase offer

B) contract to sell a property

C) lease

D) deed

Question 4

What is earnest money?

A) buyer good-faith deposit

B) tax

C) commission

D) fee

Question 5

What is a fiduciary duty?

A) profit first

B) secrecy from client

C) loyalty, obedience, care to client

D) dual profit

Question 6

What is dual agency?

A) one broker representing both sides

B) buyer only

C) two brokers

D) no representation

Question 7

What is a quitclaim deed?

A) loan

B) transfers whatever interest exists

C) lease

D) full warranty

Question 8

What is the Fair Housing Act?

A) bans housing discrimination

B) tax law

C) zoning code

D) building code

Question 9

What classes are protected in housing?

A) age only

B) politics

C) income

D) race, color, religion, sex, handicap, family, national origin

Question 10

What is redlining?

A) mapping

B) illegal denial by neighborhood

C) surveying

D) appraising

Question 11

What is steering?

A) showing homes

B) guiding buyers by race (illegal)

C) negotiating

D) advertising

Question 12

What is a CMA?

A) survey

B) appraisal

C) inspection

D) comparative market analysis

Question 13

What is an appraisal?

A) offer

B) professional value opinion

C) listing

D) inspection

Question 14

What is title insurance?

A) protects against title defects

B) life insurance

C) flood policy

D) home warranty

Question 15

What are the three appraisal approaches?

A) list, sell, close

B) offer, accept, record

C) show, stage, sell

D) sales comparison, cost, income

Question 16

What is PITI?

A) a deed

B) a tax

C) a loan type

D) principal, interest, taxes, insurance

Question 17

What is LTV?

A) land title verification

B) lease term value

C) listing traffic volume

D) loan-to-value ratio

Question 18

What is PMI?

A) insurance for low down payments

B) property tax

C) title insurance

D) flood insurance

Question 19

What is escrow?

A) commission

B) neutral third-party holding

C) tax

D) down payment

Question 20

What is a deed?

A) loan paper

B) lease

C) ownership transfer document

D) offer

US Real Estate Kentucky Advanced Test 7

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