Utah portion of the Real Estate exam (Graded A+ actual test)
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Utah portion of the Real Estate
Institution
Utah Portion Of The Real Estate
All of these items must have happened in order for settlement to have occurred according to the Utah
REPC EXCEPT the following: - The proceeds of any new loan have been delivered by the lender to
the seller or escrow/title office.
Once you have completed all real estate pre-licensing classes and...
Utah portion of the Real Estate exam
All of these items must have happened in order for settlement to have occurred according to the Utah
REPC EXCEPT the following: - The proceeds of any new loan have been delivered by the lender to
the seller or escrow/title office.
Once you have completed all real estate pre-licensing classes and received a school certifying document,
how long do you have in which to pass your licensing exam and apply for your real estate license? -
one year
A Closing Disclosure is a five-page form that provides final details regarding what? - The buyer's
real estate transaction.
If a member of the public has been financially damaged by the actions of a real estate licensee in Utah
and has applied for reimbursement to the Utah Division of Real Estate's Education, Research, & Recovery
Fund, how much money can they receive? - The full amount of their damage.
A student in a real estate school applies to take their real estate exam before completing their 120 hours
of schooling. As the date of their scheduled exam draws near, they have not yet passed all their exams at
the school with the required passing rate. They should: - contact the testing center prior to 4 days
before their test date to reschedule without financial penalty.
Where is a new loan amount to be acquired by the buyer indicated on a Utah REPC? - page 1
On the REPC, where does the sales price being offered by the buyer appear? - page 1
A real estate agent wishes to hire other real estate agents to work with them in a team. What is required
in order for them to do this? - They must get their broker's permission.
, A candidate for real estate licensing in Utah must apply for their license and place it on either active or
inactive status within how many days of passing their real estate exam, assuming they are within the
one-year requirement? - 90 days.
A hotel manager receives compensation from the hotel owner for managing the hotel property. -
This hotel manager is not required to have a real estate license.
When must the closing disclosure form be issued? - Three business days before the loan
consummation.
The Statute of Frauds refers to: - agreements concerning real estate must be in writing to be
enforceable.
The prime obligation of an agent to the principal is: - loyalty.
In order to collect any funds from the Real Estate Education, Research, and Recovery Fund, the aggrieved
person must first obtain: - a judgment from a court of jurisdiction.
If engaged in real estate activities, all of the following are exempt from the real estate licensing
requirements EXCEPT - a neighbor who assists in the sale of their neighbor's home for a small fee.
With regard to assignability, Utah's REPC states what? - no assignment without prior written
consent of the seller
A principal broker who regularly engages in property management on behalf of seven or more individual
units shall establish at least one property management trust account that is: - separate of their
other trust accounts.
A salesperson serving the needs of a buyer with a signed buyer agency contract may be compensated for
their services by: - the broker
What does TIP stand for on the Closing Disclosure Form? - Total Interest Percentage.
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