Utah real estate Exam Questions With 100% Verified Answers.
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Course
Utah Real Estate
Institution
Utah Real Estate
Utah real estate Exam Questions With 100%
Verified 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 -
answerb. be afforded a hearing before the Utah Real Es...
Utah real estate Exam Questions With 100%
Verified 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 -
answer✔b. be afforded a hearing before the Utah Real Estate Commission
After being notified of passing the license exam, an applicant has how many days to
pay the appropriate license fee? - answer✔b. 90 days
Where must a sales agent have his license displayed? - 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: -
answer✔obtains his license
The Real Estate Commission has: - answer✔b. five members
Which of the following would be a proper disbursement from a broker's trust account? -
answer✔d. plumbing repair bills for a property on which the broker has a management contract
A branch office: - answer✔d. must operate under the same name as the main office under an
associate broker
Funds received by a broker as earnest money must be deposited in the trust account: - answer✔c.
within four banking days
A broker licensed in Utah as a nonresident principal broker must maintain a principle
business location in: - answer✔b. Utah
Provided that he or she has an active license, a sales agent may: - 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 estate on his own
b. Utah state statutes
c. the law of agency
answer d. None of the above
Duties of the Real Estate Commission include: - 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: - 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? - 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 - answer✔a. civil penalty of up to $500
b. criminal fine of up to $1,000
c. lawsuit for civil damages
d. all of the above
A real estate principal broker must maintain a copy of closing statements: - answer✔b. for three
years following the year in which closing occurred
A sales agent who has both negotiated the listing and found the buyer 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? - answer✔b. The sales agent's principal broker
The lien for real property taxes attaches as of: - 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? - answer✔90 Days after the material is supplied
Which of the following would not be shown on a subdivision plat? - answer✔d. Location of the
home on the lot
A long-range guide for the development of a community is called a: - answer✔a. master plan
Which of the following statements regarding the Utah Uniform Land Sales Practices Act is NOT
true? - answer✔b. The Act does apply to the disposition of timeshare interests in an existing
condominium
If a landowner desires a variance from an existing zoning ordinance, the landowner would make
an appeal to: - answer✔c. the county or city Board of Adjustment
In regards to water rights, Utah follows: - answer✔a. an appropriation system
The trustor in connection with a trust deed is the party who: - answer✔c. signs the note
The successful bidder at a sheriff's sale receives: - answer✔a. a certificate of sale
All of the following statements are true regarding a mortgage foreclosure, except: - answer✔b.
there is not right of redemption following the foreclosure sale
Which of these statements is true in regard to real estate contracts (installment sale
contracts)? - answer✔a. Seller is the legal owner
The period of redemption following a trustee's sale under a deed of trust is: - answer✔a. three
months
b. six months
c. one year
d. none of the above
If a buyer defaults on a real estate contract, the vendor may: - answer✔b. foreclose the contract
as if it were a mortgage
A judgment lien attaches to: - answer✔a. the debtor's real property in the county or counties
where the judgment is docketed
An earnest money deposit received by a sales agent should be turned over to the: - answer✔c. the
sales agent's principle broker
All of the following are voluntary liens, except: - answer✔c. mechanic's lien
State property tax liens have priority: - answer✔d. over all other liens
A deficiency judgment: - answer✔d. must be requested following a sheriff's sale
Which of the following may not file a mechanic's lien? - answer✔d. original loan officer
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