Kansas License Law

Question 1

Who enacts the real estate law in kansas?

Answer 1

Kansas Legislature

Question 2

Which of the following would conduct meetings of commission?

Answer 2

The chairperson

Question 3

all interpretations of the licnese law shall be done by the?

Answer 3

Attorney General of kansas

Question 4

Rules and regulations that support the license law are created by the?

Answer 4

Kansas Real Estate Commission

Question 5

a real estate license is required in order to?

Answer 5

Auction Vacant Land

Question 6

A is president of a real estate corporation. B is unlicensed and owns 20% of the corporate stock. C is an employee. A and C do real estate activities. Which is true?

Answer 6

B may be an officer if he does not preform licensable activities

Question 7

A broker would need which of the following in order to renew his license?

Answer 7

Six hours core and six hours of electives

Question 8

How many hours of continuing education are required in order to renew a salespersons license after the first renewal?

Answer 8

12 hours

Question 9

If a license has been inactive for more than ___ years a person must take six hours of education courses per year of inactivity, and pass the real estate exam

Answer 9

5 years

Question 10

An applicant for a license must pass both parts (general and state) of a licensing examination, and apply for a license within how many months of passing the written pre-license examination?

Answer 10

six months

Question 11

if a broker changes the name of his company he must notify the commission within:

Answer 11

10 days

Question 12

How much of a brokers own money can the broker have in the trust account?

Answer 12

$100

Question 13

Builder Dole has licensed real estate agents selling his properties in a subdivision. Agent Jones sold Dole’s property to a buyer. Builder Dole wanted to hold the earnest money deposit, (construction funds) and use it to buy supplies. Is this legal?

Answer 13

Yes as long as all the parties agree to this arrangement in the contract

Question 14

William Dole lives in Kansas but wants his main office to be in Missouri. Can he do this?

Answer 14

Yes, as long as he has the commissions written permission

Question 15

Which would require the licensee to use the term owner/agent?

Answer 15

A broker associate decides to sell his own property and places a for sale sign in his yard.

Question 16

-The sellers and buyers are both working with the same real estate company. They have not signed a listing agreement, or a buyer agency agreement. The real estate agent involved would be a

Answer 16

transaction broker

Question 17

All of the following would be duties of a seller’s agent EXCEPT:

Answer 17

Advise the buyer as to what to offer for the property other than the listed price

Question 18

In Kansas, unless there is a separate written agreement, a real estate agent is considered

Answer 18

A statutory agent

Question 19

An agency relationship would be terminated by all EXCEPT:

Answer 19

The signing of a sales contract

Question 20

The following would be duties a transaction broker would owe the parties with whom he/she is working EXCEPT

Answer 20

Advise them as to what is in their best interest in regard to the transaction

Question 21

All are true regarding the Brokerage Relationships in Real Estate Transactions Act except

Answer 21

It deals with only agency relationships

Question 22

An agency agreement must have all of the following EXCEPT

Answer 22

an agreement to pay the brokers commission

Question 23

The possibility that the company may become a transaction broker in an in-house transaction must be explained to the buyer and seller

Answer 23

in the listing agreement and the buyer agency agreement

Question 24

The commission must examine all records kept by brokers not less than

Answer 24

once every five years

Question 25

Which of these records would NOT be required by the real estate commission to be kept in the broker’s file for examination?

Answer 25

a copy of the real estate brokerage brochure

Question 26

How many days does a licensee have to report required information to the commission?

Answer 26

10

Question 27

The broker’s trust account records would be maintained in

Answer 27

the brokers regular place of business

Question 28

Which of the following would not need to be reported to the commission?

Answer 28

A salesperson who wrote an insufficient funds check

Question 29

A licensee was involved in three different real estate transactions in the same year. Assuming there was a consumer complaint in all three transactions, the total amount that could be paid out of the recovery fund to settle those claims would be

Answer 29

$30,000

Question 30

In order to collect from the recovery fund, a person must have done all of the following EXCEPT

Answer 30

made inquiries regarding the licensee’s real or personal property that could be obtained and sold to satisfy the judgment

Question 31

The assessment for a salesperson should the recovery fund fall below $100,000 is

Answer 31

$15.00

Question 32

A licensee has how many days to pay the assessed fee without penalty?

Answer 32

30 days

Question 33

If the recovery fund is less than $100,000 each broker will be assessed

Answer 33

$10.00

Question 34

If a real estate licensee files any false information or documents to the commission it is considered

Answer 34

class a misdemeanor

Question 35

The time limit for a complaint to be considered by the commission would be no longer than

Answer 35

three years

Question 36

A violation of the license law or rules and regulations is a

Answer 36

misdeamor

Question 37

Jail time for a second violation could NOT exceed

Answer 37

one year

Question 38

True or false? If a person is declared incompetent by a court, the commission will revoke his/her license

Answer 38

False