UTAH REAL ESTATE EXAM UPDATED Exam Questions and CORRECT Answers
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Course
UTAH REAL ESTATE
Institution
UTAH REAL ESTATE
UTAH REAL ESTATE EXAM UPDATED
Exam Questions and CORRECT Answers
Before a licensee's license may be suspended or revoked for prohibited discriminatory
practices, the licensee must:b. be afforded a hearing before the Utah Real Estate Commission
- CORRECT ANSWER- b. be afforded a hearing befor...
UTAH REAL ESTATE EXAM UPDATED Exam Questions and CORRECT Answers Before a licensee's license may be suspended or revoked for prohibited discriminatory practices, the licensee must:b. be afforded a hearing before the Utah Real Estate Commission - CORRECT ANSWER - b. be afforded a hearing before the Utah Real Estate Commiss ion After being notified of passing the license exam, an applicant has how many days to pay the appropriate license fee? - CORRECT ANSWER - b. 90 days Where must a sales agent have his license displayed? - CORRECT ANSWER - c. Prominently displayed on the wall at his principal brokers office A sales agent applicant may solicit listings and negotiate with prospects when he: - CORRECT ANSWER - obtains his license The Real Estate Commission has: - CORRECT ANSWER - b. five members Which of the following would be a proper disbursement from a broker's trust account? - CORRECT ANSWER - d. plumbing repair bills for a property on which the broker has a management contract A branch office: - CORRECT ANSWER - d. must operate under the same name as the main office unde r an associate broker Funds received by a broker as earnest money must be deposited in the trust account: - CORRECT ANSWER - c. within four banking days A broker licensed in Utah as a nonresident principal broker must maintain a principle business locat ion in: - CORRECT ANSWER - b. Utah Provided that he or she has an active license, a sales agent may: - CORRECT ANSWER - c. act as an agent for the broker his or her license is on file with A real estate principal broker is prohibited from purchasing real e state on his own behalf by - CORRECT ANSWER - a. rules of the Commission b. Utah state statutes c. the law of agency answer d. None of the above Duties of the Real Estate Commission include: - CORRECT ANSWER - a. promulgating rules relating to the conduct of real estate brokers and sales agents b. establishing license fees for real estate licensees c. investigating complaints d. all of the above A real estate licensee who is an agent for the seller must: - CORRECT ANSWER - a. give the buyer and the seller written notice that he or she is an agent for the seller Which of the following would be required to have a real estate principal broker present ? - CORRECT ANSWER - a. An auctioneer auctioning real estate In the case of a violation of the license law by a licensee, the licensee may be subject to a - CORRECT ANSWER - a. civil penalty of up to $500 b. criminal fine of up to $1,000 c. lawsuit for ci vil damages d. all of the above A real estate principal broker must maintain a copy of closing statements: - CORRECT ANSWER - b. for three years following the year in which closing occurred A sales agent who has both negotiated the listing and found the b uyer for the property may bring a lawsuit against which of the following for the commission if the commission is not paid as agreed in the listing? - CORRECT ANSWER - b. The sales agent's principal broker The lien for real property taxes attaches as of: - CORRECT ANSWER - a. January 1 To claim a mechanic's lien for materials supplied, a supplier must file a notice of the lien in the public record within? - CORRECT ANSWER - 90 Days after the material is supplied Which of the following would not be shown on a subdivision plat? - CORRECT ANSWER - d. Location of the home on the lot A long -range guide for the development of a community is called a: - CORRECT ANSWER - a. master plan Which of the following statements regarding the Utah Uniform Land Sales Practices Act is NOT true? - CORRECT ANSWER - b. The Act does apply to the disposition of timeshare interests in an existing condominium If a landowner desires a variance from an exi sting zoning ordinance, the landowner would make an appeal to: - CORRECT ANSWER - c. the county or city Board of Adjustment In regards to water rights, Utah follows: - CORRECT ANSWER - a. an appropriation system The trustor in connection with a trust deed is the party who: - CORRECT ANSWER - c. signs the note The successful bidder at a sheriff's sale receives: - CORRECT ANSWER - a. a certificate of sale All of the following statements are true regarding a mortgage foreclosure, except: - CORRECT ANSWER - b. there is not right of redemption following the foreclosure sale
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