Real Estate Exam Utah Law Questions and Answers well Explained Latest 2024/2025 Update 100% Correct.
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Course
Real Estate Utah Law
Institution
Real Estate Utah Law
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...
Real Estate Exam Utah Law
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 file
What is a double contract as contrasted with double commission or dual agency? - When a
second contract or our EPC is created to deceive a lender
What happens to sales agents' licenses when the broker's license is revoked? - Their license is
inactivated
What is the main purpose of the continuing education? - To protect the public
Purpose of the first hundred thousand dollars in the recovery fund? - To protect the public from
dishonest licensees
How much equity could be projected for the head of the household, spouse and three dependents? -
$40,000
What is the main purpose of the Marketable Record Title Act? - Simplify and stabilize title
searches
Who can have the 120 hours education requirement waived? - A member of the Utah Bar
Who does the governor point? - Commissioners
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