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Real Estate Exam Utah Law Questions and Answers well Explained Latest 2024/2025 Update 100% Correct. $8.39   Add to cart

Exam (elaborations)

Real Estate Exam Utah Law Questions and Answers well Explained Latest 2024/2025 Update 100% Correct.

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  • Course
  • Real Estate Utah Law
  • Institution
  • Real Estate Utah Law

What is a net listing? Is it illegal? - A net listing is selling a property for a determined price where the seller Only requires a small amount of money and let the agent have the rest (huge commission); it is ILLEGAL in the state of Utah After foreclosure, there's not enough money to cover all...

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  • September 11, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Real Estate Utah Law
  • Real Estate Utah Law
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ACADEMICMATERIALS
Real Estate Exam Utah Law
What is a net listing? Is it illegal? - A net listing is selling a property for a determined price where
the seller Only requires a small amount of money and let the agent have the rest (huge commission); it is
ILLEGAL in the state of Utah



After foreclosure, there's not enough money to cover all files of the mechanic's liens. What is the priority
of payoff? - Laborers first, suppliers and subs second, general contractor last



Where should a broker keep sales agents' licenses? - Broker's file



What is a double contract as contrasted with double commission or dual agency? - When a
second contract or our EPC is created to deceive a lender



What happens to sales agents' licenses when the broker's license is revoked? - Their license is
inactivated



What is the main purpose of the continuing education? - To protect the public



Purpose of the first hundred thousand dollars in the recovery fund? - To protect the public from
dishonest licensees



How much equity could be projected for the head of the household, spouse and three dependents? -
$40,000



What is the main purpose of the Marketable Record Title Act? - Simplify and stabilize title
searches



Who can have the 120 hours education requirement waived? - A member of the Utah Bar



Who does the governor point? - Commissioners

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