State Real Estate Exam

Question 1

Peachy Corp. of Chicago bought a strip center in Kansas and brought in a leasing agent from the home office. The leasing agent would not need a license:

a. If the leasing agent is licensed in Chicago.
b. If the leasing agent has been employed over one year.
c. If the leasing agent owned not less than 5% of the corporate stock.
d. As long as the leasing agent had a power of attorney.

Answer 1

c. If the leasing agent owned not less than 5% of the corporate stock.

Question 2

A licensed Texas broker is doing seminars on Texas property at dinners in various places in Kansas. She is offering the properties for sale. Which is true regarding her need for a Kansas license?
a. She does NOT need a license because she is licensed in Texas.
b. She does NOT need a license as long as she does NOT give away free dinners. c
. She does NOT need a license since she is NOT a resident of Kansas.
d. She needs a Kansas License to market Texas properties in Kansas.

Answer 2

d. She needs a Kansas License to market Texas properties in Kansas.

Question 3

Who enacts the real estate license law in Kansas?

a. Kansas real estate commission.
b. Kansas attorney general
c. Director of the Kansas Real Estate Commission.
d. Kansas Legislature.

Answer 3

d. Kansas Legislature.

Question 4

As required by the license law, all interpretations of the license law shall be done by the:

a. Governor of Kansas.
b. Director of The KREC
c. Attorney general of Kansas
d. Legal counsel hired by the commission.

Answer 4

c. Attorney general of Kansas

Question 5

A real estate license is required to:

a. Appraise commercial property.
b. Auction vacant land
c. Lease agricultural property
d. Lease a duplex.

Answer 5

b. Auction vacant land

Question 6

A Broker listed a residential property for 90 days. After the listing expired, the seller asked the broker to rent it out. Which of the following statements BEST describes the broker’s obligations.

a. The broker must sign a new listing agreement.
b. The broker could hire an unlicensed person to rent the property.
c. The broker must put the rental payments into the broker’s trust account.
d. The broker must put the security deposits in the broker’s trust account.

Answer 6

b. The broker could hire an unlicensed person to rent the property.