1. When must a licensee deliver the Guide to Agency Relationships (KREC Form 400)?
Answer & explanation
Answer: A. 201 KAR 11:121 §5(1) requires completion and delivery at the earliest of those events.
agency
Guide to Agency Relationships (KREC Form 400)
The first of Kentucky's two agency forms. Its purpose is to educate a prospective client about the agency relationships available in Kentucky. The licensee completes, dates and time-stamps it and delivers it at the earliest of: before a contemplated written or oral brokerage agreement, or before the Agency Consent Agreement is signed. If the person will not sign, the licensee documents the delivery or attempted delivery with the date and time. Auctions and commercial transactions are exempt.
- Exam tip
- The Guide educates and comes first; the Agency Consent Agreement records consent to a specific relationship. A refusal to sign does not stop the transaction.
- Example
- At an open house a visitor asks what commission an agent charges to list; before discussing terms the agent delivers the Guide and notes '4/12, 2:40 p.m., declined to sign.'
Related terms & state variants
Sources
Source verification pending. Confirm current requirements with your state regulator.
Last verified: 2026-10-23