Free Kansas Real Estate Practice Exam Questions (December 2024) 30+

Associate broker’ means an individual who has a broker’s license and who is employed by another broker or is associated with another broker as an independent contractor Per Kansas Commission Statutes, Rules and Regulations 58-3035. Meaning they may perform any brokerage act that would typically require a broker's license.

Placing a sign on any property offering it for sale or lease without the written consent of the owner or the owner’s authorized agent is a violation of Kansas Law. It's essential agents get written permission before they put down a for-sale sign.

Dual Agency is illegal in Kansas the state has what is called a "Transaction Broker" where agents can represent neither party and can simply write up the contract and let both the buyer and seller know what their options are but cannot advise them.

Violation of license law or BRRETA is labeled as a misdemeanor. The first violation can result in up to 1 year in jail and fines of $100 to $1000, or both. Second violation is 1 year in jail and fines of $1000 to $10000. For this question the maximum penalty imposed would be a fine of $10,000 and imprisonment for a period of one year.

According to Kansas real estate law ONLY brokers can directly receive fees or bonuses. After the bonus is received then the broker can distribute the funds to the salesperson in our case Rachel.

If any money is paid from the Real Estate Recovery Revolving Fund the licensee’s license is revoked automatically without a hearing until debt is repaid.

According to Kansas real estate law ONLY brokers can directly receive fees or bonuses. After the fee is received then the broker can distribute the funds to the salesperson if applicable.

“At any time that the balance remaining in the real estate recovery revolving fund is less than $100,000 the commission, without delay, shall assess each licensed broker a fee of $10 and each licensed salesperson a fee of $5” Per Kansas Commission Statutes, Rules and Regulations. 58-3066

Under Kansas License Law offering real estate or improvements as prizes in games of chance is a violation of license law.

The Director is in charge of keeping records. They are not members of the commission, but are employed staff.

All individuals who hold an active Kansas real estate license are required to complete 12 hours of Commission approved continuing education during each two year renewal period.

BRRETA’s main goal is to make the role of a licensee clear and practical. This act is what defines brokerage, buyers and sellers, relationships for the state of Kansas.

The Kansas Real Estate Commission consists of 5 people appointed by the governor to serve 4 years. At least 3 members must have been licensed brokers for 5 years, and at least one member must be an outside party

Every property manager will keep an official ledger for all income produced in applicable property.

Violation of license law or BRRETA is labeled as a misdemeanor. The first violation can result in up to 1 year in jail and fines of $100 to $1000, or both. Second violation is 1 year in jail and fines of $1000 to $10000. For this question the maximum penalty imposed would be a fine of $1,000 and imprisonment for a period of one year.

The Kansas Real Estate Commission members serve for terms of 4 years.

Trust account funds must be deposited within 5 business days from the date of the contract unless otherwise agreed and not prior to contract acceptance.

All individuals who hold an active Kansas real estate license are required to complete 12 hours of Commission approved continuing education during each two year renewal period.

The fund should be at $100,000.00. If it is lower the Commission may ask for additional funds from the state's current licensees. Per Kansas Commission Statutes, Rules and Regulations. 58-3066

Pretty self explanatory. All real estate agents MUST follow not only the state laws that apply to them but the national ones as well.

According to Kansas real estate law confidentiality continues after the relationship ends unless law specifies otherwise.

ALL Kansas real estate agents wishing to buy property must disclose their license status in purchase agreement documents.

The Recovery revolving fund is a special fund established by Kansas Real Estate Code to provide reimbursement to persons who are victims of fraud, misrepresentation or deceit committed by real estate licensees during the course of any transaction for which a license is required. The recovery revolving fund is designed to protect consumers.

The Governor is in charge of handling the appointment of Commission members.

Any application for compensation from the Kansas Real Estate Recovery Revolving Fund must be brought within two years from the date that final judgment is entered. Per Kansas Commission Statutes, Rules and Regulations.58-3068.

In Kansas, a patent defect is obvious and does not have to be disclosed. All hidden defects however MUST be disclosed.

If a broker decides to terminate an affiliation with one of their salespersons they must send the license back to the Commission and it is then cancelled. From there the salesperson can request it be sent to another broker.

The Kansas Real Estate Commission consists of 5 people appointed by the governor to serve 4 years. At least 3 members must have been licensed brokers for 5 years, and at least one member must be an outside party

All salespersons in Kansas are prohibited from giving anything of value to a non-licensee for bringing a broker a client. In this case, Jacob cannot give anything of monetary value.

If the Kansas Real Estate Recovery Revolving Fund is less than $100,000, and the Commission imposes an additional fee for licensees, and any licensees do not pay the fee within thirty days their license will be suspended.