Sales utah law - Study guides, Class notes & Summaries

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 commi...

All of these items must have happened in order for settlement to have occurred according to the Utah REPC EXCEPT the following: - The proceeds of any new loan have been delivered by the lender to the seller or escrow/title office. Once you have completed all real estate pre-licensing classes and received a school certifying document, how long do you have in which to pass your licensing exam and apply for your real estate license? - one year A Closing Disclosure is a five-page form that pro...

Utah Law Real Estate Questions and Answers 100% Pass who needs a real estate license? anyone who is compensated or paid for their services in helping someone lease property. licensing Exceptions Anyone acting for themselves for sale by owner Licensing Exceptions salaried employees can sell, lease and manage property for their employers. Exempt from needing a real estate license resident property managers, as long as their pay is in the form of free or reduced rent on the unit t...

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...

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...

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...

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...