Real estate utah law - Study guides, Class notes & Summaries

Escrow Sample Test – Utah| 100 QUESTIONS| WITH COMPLETE SOLUTIONS. 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...

Where should a broker keep sales agents' licenses? - Broker's file What happens to sales agents' licenses when the broker's license is revoked? - Their license is inactivated How does the broker get back in the business if his/her license is revoked? - Must start over with sales agent license, after waiting five years What is the main purpose of the continuing education? - To protect the public What is a double contract as contrasted with double commission or dual agency? - When a seco...

Utah real estate exam questions and answers graded A+ 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. be afforded a hearing before the Utah Real Estate Commission After being notified of passing the license exam, an applicant has how many days to pay the appropriate license fee? b. 90 days Where must a sales agent have his license displayed? c. Pro...

Utah Real Estate Exam (Utah Law Final Exam) 2024 Questions With 100% Correct Answers.

A real estate principal broker must maintain a copy of closing statements: - b. for three years following the year in which closing occurred An earnest money deposit received by a sales agent should be turned over to the: - c. the sales agent's principle broker Which of the following would be required to have a real estate principal broker present? - a. An auctioneer auctioning real estate A real estate principal broker is prohibited from purchasing real estate on his own behalf by - a. ...

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 Questions and Answers Rated A An escrow is an arrangement that: a) Holds documents, b) Holds funds, c) Creates documents to affect a transfer of interest in property, d) is responsible for guaranteeing funds. A, B, C, E When is it necessary to have closing documents recorded prior to disbursement of escrow funds? a) it is not necessary, b) in almost all situations, c) when instructed by one of the parties to the escrow, d) only when the written instructions require recording...

Utah Real Estate Test Exam UPDATED Exam Questions and CORRECT Answers The word "Ownership" means the same thing as the word A.Freehold B.Leasehold C.Possession D.Both A & C - CORRECT ANSWER- D. 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 - CORRECT ANSWER- C.Fee Simple Absolute

Utah Law Real Estate Exam Questions and Answers (A+ Graded Already

Utah Sales Law exam Questions and Answers 100% Pass 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. c Assuming a REPC is accepted on January 25th and a check for $1,000 earnest money is given the same day, what is the latest it can be deposited into the Brokerage Trust ...