Utah sales law - Study guides, Class notes & Summaries

Escrow Sample Test – Utah 100% Correct Score An Escow is an arrangement that: (Select all that apply) (A) holds documents (B) holds funds (C) creates documents to affect a transfer of interest in a property (D) acts as an attorney (E) is responsible for guaranteeing funds - Correct Answer ️️ -(A) holds documents (B) holds funds (C) creates documents to affect a transfer of interest in a property (E) is responsible for guaranteeing funds When is it necessary to have closing docum...

1. Trust accounts are designed for other peoples money. - correct answer True 2. The Real Estate Trust Account can draw interest not to exceed ____% - correct answer 0 3. According to Utah Law, the earnest money must be deposited within _______ business/banking/working days. - correct answer 3 4. In the real estate trust account, the broker can dep...

b. be afforded a hearing before the Utah Real Estate Commission correct 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 b. 90 days correct answers After being notified of passing the license exam, an applicant has how many days to pay the appropriate license fee? c. Prominently displayed on the wall at his principal brokers office correct answers...

Trust accounts are designed for other people's money - Answer True The Real Estate Trust Account can draw interest not to exceed..... - Answer 0% According to Utah Law, the earnest money must be deposited within ---- business/banking/working days - Answer 3 In the real estate trust account, the broker can deposit no more than ------ of his or her own money - Answer 500 If brokers place more than the allowed amount of their own money in the trust account, they are guilty of commingli...

The Director of the Division of Real Estate was: a. Appointed by the governor b. Hired by the Real Estate Commission c. Appointed with the approval of the legislature d. Appointed by the Executive Director of the Department of Commerce - correct answer d.The Director is appointed by the Executive Director of the Department of Commerce The Director of the Division of Real Estate will; a. Prosecute licensees in criminal court b. Overrule the Re...

Real Estate Exam Utah Law Questions With 100% Verified Answers. Where should a broker keep sales agents' licenses? - answerBroker's file What happens to sales agents' licenses when the broker's license is revoked? - answerTheir license is inactivated How does the broker get back in the business if his/her license is revoked? - answerMust start over with sales agent license, after waiting five years What is the main purpose of the continuing education? - answerTo protect the public Wh...

Utah Real Estate Exam Questions With 100% Verified Answers. Which of the following options would NOT satisfy the points requirement for a broker applicant to get their license? (a) 60 points that come from selling properties. (b) A combination of 45 points from sales and 15 points from property management. (c) A combination of 45 points from real estate and 15 points from optional allowed activities. (d) 60 points for property management while employed by the owner. - answerd. 60 points f...

Sales Utah Law Exam Quizzes With Correct Answers Already Passed!!!

Utah Law Exam (Stringham) Questions With 100% Verified Answers. A sales agent who offers a guarantee that if the listing does not sell within six months the agent will buy the listing, must also: (a) A licensee is convicted of a criminal offense. (b) Provide a bond to back the guarantee. (c) Provide complete written details of the guarantee before the property is listed. (d) Notify the Division of Real Estate in advance of the terms of the guarantee. - answerProvide complete written deta...

Escrow Sample Test 100% Correct Solved An escrow is an arrangement that: a) Holds documents, b) Holds funds, c) Creates documents to affect a transfer of interest in property, d) is responsible for guaranteeing funds. - Correct Answer ️️ -A, B, C, E When is it necessary to have closing documents recorded prior to disbursement of escrow funds? a) it is not necessary, b) in almost all situations, c) when instructed by one of the parties to the escrow, d) only when the written instruction...