Utah State Exam Questions with Actual Answers.
Which of the following people or entities don't pay into the Real Estate Education, Research, and Recovery Fund?
Baylor, a sales agent, submits his application for his broker's license.
Broker Winnie was just found guilty of mortgage fraud and...
Utah State Exam Questions with Actual
Answers.
Which of the following people or entities don't pay into the Real Estate Education, Research, and
Recovery Fund?
Baylor, a sales agent, submits his application for his broker's license.
Broker Winnie was just found guilty of mortgage fraud and was assessed a fine of $2,000.
Pine Tree Brokerage was found guilty of not keeping accurate trust fund records.
Principal broker Gemma owes the division about $100 in interest for a payout they made on her behalf
last year. - CORRECT ANSWER Pine Tree Brokerage was found guilty of not keeping accurate trust fund
records.
This fund doesn't cover judgment against entities, so Pine Tree Brokerage doesn't pay into it.
Randa is selling her Salt Lake City home to Mr. and Mrs. Chisholm. Randa's agent Tyler put some
information together for her on closing costs she'll have to pay. Which of the following is NOT
something Randa will likely pay at closing?
Broker commission
Closing fee
Lender's title insurance policy
Owner's title insurance policy - CORRECT ANSWER Lender's title insurance policy
Traditionally, the buyer pays for the lender's title insurance policy.
Gabrielle is a new licensee in Utah. She's received several referrals from a friend who is a retired real
estate professional, whose license is inactive. Is she allowed to give her friend a referral fee?
, No, because his license status is inactive
No, because referral fees are always illegal in Utah
Yes, as long as it's for less than $150
Yes, as long as the referral was unsolicited - CORRECT ANSWER No, because his license status is inactive
Utah licensees can only give referral fees to other licensees with active licenses. Gifts of $150 or less are
allowed for unsolicited referrals.
Utah licensee Jackie is helping Marc and his wife, Allie, plan to apply for a VA loan to finance their home
purchase. Marc served in the military for five months during war time. Which form should Jackie use
along with Real Estate Purchase Contract?
The FHA/VA Loan Addendum to Real Estate Purchase Contract
The Seller Financing Addendum
The Uniform Real Estate Contract
The VA Loan Addendum to the Real Estate Purchase Contract - CORRECT ANSWER The FHA/VA Loan
Addendum to Real Estate Purchase Contract
The FHA/VA Loan Addendum to Real Estate Purchase Contract has been approved for use in these
transactions by the Utah Real Estate Commission and the Office of the Attorney General.
When a buyer's agent offers to complete a CMA of the property to be purchased and interprets it
objectively to the buyer's advantage, which duty is this agent exhibiting?
Accountability
Loyalty
Obedience
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