Utah real estate exam Questions and Answers well Explained Latest 2024/2025 Update 100% Correct.
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Course
Utah real estate
Institution
Utah Real Estate
A real estate principal broker must maintain a copy of closing statements: - b. for three years
following the year in which closing occurred
An earnest money deposit received by a sales agent should be turned over to the: - c. the sales
agent's principle broker
Which of the following would be r...
Utah real estate exam
A real estate principal broker must maintain a copy of closing statements: - b. for three years
following the year in which closing occurred
An earnest money deposit received by a sales agent should be turned over to the: - c. the sales
agent's principle broker
Which of the following would be required to have a real estate principal broker
present? - a. An auctioneer auctioning real estate
A real estate principal broker is prohibited from purchasing real estate on his own
behalf by - a. rules of the Commission
b. Utah state statutes
c. the law of agency
answer d. None of the above
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 - 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? - b. 90 days
Where must a sales agent have his license displayed? - c. Prominently displayed on the wall at his
principal brokers office
,A sales agent applicant may solicit listings and negotiate with prospects when he: - obtains his
license
The Real Estate Commission has: - b. five members
Which of the following would be a proper disbursement from a broker's trust account? - d.
plumbing repair bills for a property on which the broker has a management contract
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 - b.
be afforded a hearing before the Utah Real Estate Commission
A branch office: - 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: - c. within
four banking days
A broker licensed in Utah as a nonresident principal broker must maintain a principle
business location in: - b. Utah
Provided that he or she has an active license, a sales agent may: - c. act as an agent for the broker
his or her license is on file with
Duties of the Real Estate Commission include: - 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: - a. give the buyer and the seller written
notice that he or she is an agent for the seller
In the case of a violation of the license law by a licensee, the licensee may be subject
to a - 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 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? - b. The sales agent's principal broker
The lien for real property taxes attaches as of: - 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? - 90 Days after the material is supplied
Which of the following would not be shown on a subdivision plat? - d. Location of the home on
the lot
A long-range guide for the development of a community is called a: - a. master plan
Which of the following statements regarding the Utah Uniform Land Sales Practices Act is NOT true? -
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: - c. the county or city Board of Adjustment
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