Kansas License Law
What is the purpose of the 'Kansas Real Estate Recovery Revolving Fund'?
ATo fund KREC operations and staff
BTo compensate members of the public who suffer monetary loss due to a licensed agent's wrongful act, fraud, or misrepresentation✓ Correct
CTo provide low-interest loans to new brokerages
DTo reimburse agents who cannot collect their commissions
Explanation
The Kansas Real Estate Recovery Fund compensates consumers who suffer financial loss caused by a licensed real estate agent's fraud, misrepresentation, or other wrongful acts, providing a last resort when judgment recovery fails.
Related Kansas Kansas License Law Questions
- In Kansas, what is the license renewal period for real estate licensees?
- The Kansas Real Estate Commission (KREC) requires salesperson applicants to complete how many hours of pre-license education?
- A Kansas licensee who wants to display 'For Sale' signs on a listed property must ensure the signs:
- Under Kansas license law, what must a licensee do when their supervising broker's license is revoked?
- Kansas post-license education for new salespersons must be completed within how long after licensure?
- A Kansas licensee who engages in real estate activity without a current, active license is subject to:
- In Kansas, what is the 'designated agency' relationship?
- Which of the following is a ground for license revocation by the KREC?
Practice More Kansas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kansas Quiz →