Utah law - Study guides, Class notes & Summaries

UTAH LAW FINAL EXAM 1 (Q & A) VERIFIED 100% CORRECT!!

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 ...

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...

Sales Utah Law Exam Questions With Complete Solutions.

Utah Notary Exam 2022 QUESTIONS AND CORRECT DETAILED ANSWERS (100% VERIFIED ANSWERS) |AGRADE John Doe is requesting his document to be notarized using Jurat language. After establishing his identity, what is the next step before witnessing John Doe sign the document - ANSWER- Place John Doe under oath/affirmation by stating: "Do you swear or affirm under penalty of perjury that the statements in your document are true?" Which of the following is an example of a materially COMPLETE ...

What is the Offer Reference Date on the Utah REPC and where does it appear? (A) It is the date the buyer first drafts the offer and it appears on the first page of the REPC. (B) It is the date the offer is first presented to the seller and it appears on the fifth page of the REPC. (C) It is the date the buyer and seller agree to the terms of their contract and it appears on the last page of the REPC. (D) It is the date the buyer and seller agree to the terms of their contract and appears eit...

Utah Sales Law Exam Latest @ 2024 It is June 18, and your license expired May 30. Which is NOT true? (a) You are now an inactive licensee. (b) You can renew by paying extra during June. (c) You are out of luck! Start over. (d) You can comply with additional requirements and renew till October 31. - Answer c

Utah Law Exam (Stringham) Question and Answer 100% Correct 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. - Provide complete written details of the...

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 ...