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Kentucky Broker Law Questions and Answers | Latest Version | 2025/2026 | Correct & Verified
Who is responsible for supervising all affiliated licensees in a Kentucky brokerage?✔✔The principal broker
When must a Kentucky licensee disclose their license status in a personal transaction?✔✔Before any negotiations begin
What is the minimum age required to qualify for a broker’s license in Kentucky?✔✔Eighteen
How soon must escrow funds be deposited after receipt in Kentucky?✔✔By the next banking day
What must be included on all real estate advertising in Kentucky?✔✔The name of the brokerage 1 / 4
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What is the consequence of practicing real estate in Kentucky without a license?✔✔A criminal offense and possible civil penalties
Who regulates real estate licensing and enforcement in Kentucky?✔✔The Kentucky Real Estate Commission (KREC)
When can a licensee in Kentucky act as a dual agent?✔✔Only with written informed consent from both parties
What is required before a licensee may advertise another broker’s listing in Kentucky?✔✔Written consent from the listing broker
How long must a Kentucky broker retain transaction records?✔✔Five years
What must happen if a licensee is convicted of a felony?✔✔They must report it to the Commission within 30 days 2 / 4
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What is required to place a license in escrow in Kentucky?✔✔A written request submitted to the Commission
When must a licensee complete continuing education to renew their license in Kentucky?✔✔By December 31 each year
What type of agency disclosure is required in Kentucky residential transactions?✔✔A written Agency Disclosure Statement
Who is permitted to withdraw money from a real estate escrow account in Kentucky?✔✔Only the principal broker
What must a licensee do if a client requests a copy of a signed contract?✔✔Provide a copy immediately
Can a broker in Kentucky pay a referral fee to an unlicensed person?✔✔No, it is illegal 3 / 4
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When is a licensee considered in violation for inducing panic selling?✔✔When they promote sales based on discriminatory or fear-based reasons
What type of license is required to manage rental property for others in Kentucky?✔✔A real estate license
What must be done when an offer is received on a property?✔✔It must be presented to the seller promptly
Can a licensee in Kentucky represent both buyer and seller in the same transaction?✔✔Only as a dual agent with written consent from both parties
What happens if a broker closes their brokerage without notifying the Commission?✔✔It may result in disciplinary action
What is the maximum administrative fine the Commission may impose per violation?✔✔One thousand dollars
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