Utah Real Estate Questions and Answers well Explained Latest 2024/2025 Update 100% Correct.
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Course
Utah Real Estate
Institution
Utah Real Estate
A broker in Vernal Lists a property in Roosevelt under an exclusive right to sell listing. The selling broker
does not sell through the listing broker. This could create.
(a) Double commission
(b) Dual agency
(c) Double contract
(d) Dual dispostion - (a) Double commission
Assuming a REPC is a...
Utah Real Estate
A broker in Vernal Lists a property in Roosevelt under an exclusive right to sell listing. The selling broker
does not sell through the listing broker. This could create.
(a) Double commission
(b) Dual agency
(c) Double contract
(d) Dual dispostion - (a) Double commission
Assuming a REPC is accepted on January 25th and a check for $1,000 earnest money is given the same
day, what is the latest it can be deposited into the Brokerage Trust Account?
(a) January 26
(b) January 28
(c) January 29
(d) February 1 - (c) January 29
Explanation: According to the REPC, the Broker has 4 calendar days to deposit the earnest money. Unless
it is specified in an addendum to do something different, the 4 calendar rule must apply.
If a principal broker dies, and it is a sole proprietorship, what should be done with the records of the
company?
(a) A receiver will be appointed by the Division to handle the records.
(b) The administrator of the broker's estate must keep the records.
(c) The Division should be notified as to where the records will be stored.
(d) They must be transferred to the Division. - c. The Division should be notified as to where the
records will be stored.
, The term for Utah's water law, which determines who gets to have rights to use and distribution of
water, is:
(a) Beneficial use
(b) Prior appropriation
(c) Riparian rights
(d) Littoral rights - (b) Prior appropriation
The Marketable Record Title Act:
(a) protects buyers of lots in subdivisions.
(b) has been in effect since 1901.
(c) simplifies clearing title.
(d) is assigned to clear an undisturbed title. - (c) simplifies clearing title.
Where are the water right records stored?
(a) County Recorder's Office
(b) Water Commissioner's Office
(c) Real Estate Division
(d) State Engineer's Office - (d) State Engineer's Office
Under the Division Rules, which of the following is NOT correct?
(a) Net listings shall not be taken by a licensee.
(b) A principal broker cannot keep part of the earnest money unless both parties agree.
(c) Licensees shall keep their broker informed regarding their transactions.
(d) When requested by the client, the agent must give them copies of documents from both sides of the
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