Utah real estate t - Study guides, Class notes & Summaries

©BRAINBARTER 2024/2025 Financial Responsibility (Utah) Exam Questions With 100% Verified Answers Real Estate Trust Account - answerAn *account for holding other people's money that is set up with a state approved depository.* The principal broker is personally responsible for this account and all monies. Trust account is to be non-interest bearing unless the parties agree in writing (wording in the REPC). Broker will have a non-interest bearing trust account and an interest bearing tru...

Utah Real Estate Exam 250 Questions and Correct Answers Already Graded A+ The New Construction REPC allows for the purchase price on the home to be increased if A written change order is signed in advance by the buyer and seller If the seller will not agree to an option, it might be a good time to use a(n): First right of refusal A special warranty deed contains the Covenant Against Encumbrances. It only covers the time period the___________________ was responsible for the property. Grant...

3 systems of government - Answer-unitary, confederate, federal Federal system of government - Answer-divides power between a national government and state governments (used by United States) Unitary system of government - Answer-power is concentrated in a central government Confederation system of government - Answer-regional government retains autonomy and cantral government gets its authority from regional government Sovereignty - Answer-Ultimate governing quthority of a particular geogr...

PSC 100 Nevada Constitution Final Exam Questions and Answers 100% pass 3 systems of government - Answer- unitary, confederate, federal Federal system of government - Answer- divides power between a national government and state governments (used by United States) Unitary system of government - Answer- power is concentrated in a central government Confederation system of government - Answer- regional government retains autonomy and cantral government gets its authority from regional govern...

Closing correct answers When any loan funds are received from the lender(s) and the applicable documents are recorded. This comes after settlement. Commingling correct answers A broker puts personal funds in excess of $500 into the real estate trust account. Real Estate Commission correct answers One entity of the Division of Real Estate composed of five people, one of whom is a chairman. T/F - Trust accounts are designed for other people's money? correct answers True. A Trust Account ...

Utah Real Estate Exam 2024 Questions and 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. - d. 60 points for property managem...

The word "Ownership" means the same thing as the word A.Freehold B.Leasehold C.Possession D.Both A & C - ANSWERSD. Both A & C The highest interest in real estate recognized by law is: A.Fee Simple Defeasible B.Legal Life Estate C.Fee Simple Absolute D.Fee Simple Determinable - ANSWERSC.Fee Simple Absolute The highest interest in real estate recognized by law is: A.Fee Simple Defeasible B.Legal Life Estate C.Fee Simple Absolute D.Fee Simple Determinable - ANSWERSC.Fee Simple A...

PSC 100 Nevada Constitution Final Exam Questions and Answers 100% pass 3 systems of government - Answer- unitary, confederate, federal Federal system of government - Answer- divides power between a national government and state governments (used by United States) Unitary system of government - Answer- power is concentrated in a central government Confederation system of government - Answer- regional government retains autonomy and cantral government gets its authority from regional govern...

Utah Portion Of The Real Estate Exam UPDATED Exam Questions and CORRECT Answers With regard to assignability, Utah's REPC states what? - CORRECT ANSWER- no assignment without prior written consent of the seller A Closing Disclosure is a five-page form that provides final details regarding what? - CORRECT ANSWER- The buyer's real estate transaction. Where is a new loan amount to be acquired by the buyer indicated on a Utah REPC? - CORRECT ANSWER- page 1 On the REPC, where does the sa...

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. -:- d. 60 points for property management while employed by the owner If a pri...