A Kentucky principal broker reviews a principal broker closes or fails to close a transaction. Which answer follows Kentucky law?
Correct Answer
C) The principal broker preserves required transaction records for five years after consummation or failure
201 KAR 11:121 requires five-year preservation of transaction records. Source basis: KRS 324.117, KRS 324.160, and 201 KAR 11:121, Kentucky Legislative Research Commission official statutes/regulations: advertising, supervision, brokerage records, document delivery, affiliation, compensation, agency, and improper conduct; checked 2026-04-30.
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