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Utah Real Estate- Organization And Licensing pg 3-1 Questions & Answers Already Graded A +

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Commissioners - A member of a state regulatory Real estate commission, board, or division. Continuing Education - A requirement for licensees to complete a specifies number of educational offerings as a prerequisite to license renewal or reinstatement. After completing the pre-licensing course and successfully passing the State exam, which of the following will keep someone from having to take the test again? - Get the license within 90 days from the successful test date. An associate broker can do all of the following except: - Pay commissions (Can: negotiate leases, prepare closing documents, and take listings) An owner was paying his friend to collect the rents from a duplex on the other side of the city. Would the friend be required to have a real estate license? - Yes, property managers who are being paid for their work have to have real estate licenses. A builder hires a secretary to sit in a model home in his development and sho the property to prospective buyers. The secretary also coordinates subcontractors and acts as a receptionist for potential buyers. The secretary is paid entirely by salary. Is it necessary for the secretary to have a real estate license? - Yes, because she is working with potential buyers in a property that is being offered for sale. Branch Office - Any remote operation of the main real estate office which will be in operation more than 12 months and must be registered with the Real Estate Division.12 Hour New Agent Course - The continuing education course required by the Utah Division of Real Estate for a new licensee's initial renewal period. By Utah statute responsibility for licensing procedures belongs to the: - Real Este education coordinator Commissioners-at-large - The one member of the Commission that is from the general public. Core - Continuing education topics that are specifically required by the Utah Division of Real Estate. Director of the Division - Appointed by Executive Director of the Department of Commerce. Serves at pleasure of the Governor. Responsible for preparing budget for fiscal year, submitting each years report to governor and legislature before or on 1st Oct. concerning the division's work for preceding fiscal year. Elective - A topic of continuing education that is not core, but satisfies the continuing education requirements. Executive Director of the Department of Commerce - The person who appoints the Director of the Utah Division of Real Estate. If there is a branch office, where should the records of branch transactions be kept? - The main office of the branch office, as appropriate. In Utah, a person operating a separate and independent property management company must hold which of the following licenses? - Principal broker's license Inactive License - A real estate license that is not on active status with the Utah Division of Real Estate.License Renewal - Two years after the month in which a licensee receives a real estate license this action is necessary to continue practicing real estate. Non-Resident License - A real estate licensee from another state acquires this kind of a license to enable him/her to practice real estate in Utah. Power of Attorney - What an attorney-in-fact holds which authorizes actions in behalf of another person, including signature authority. Principal Broker - The broker who manages the offices and is responsible for supervising the activities of the licensed and unlicensed staff. Property Management - This activity occurs when a licensee manages investment property for the owner. Q was hired by the "Have a Great Time" condominium time share project to market time share interests to the public. Besides being hired and trained by the owners, what else does Q have to do? - Register with the Real Estate Division Real Estate Commission - A state governmental agency whose primary duties include making rules and regulations to protect the general public involved in real estate transactions, granting licenses to Real estate brokers and sale people and suspending or revoking licenses for cause. Who appoints the real estate commission? - The governor

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Utah Real Estate- Organization And
Licensing pg 3-1
Commissioners - A member of a state regulatory Real estate commission, board, or division.



Continuing Education - A requirement for licensees to complete a specifies number of educational
offerings as a prerequisite to license renewal or reinstatement.



After completing the pre-licensing course and successfully passing the State exam, which of the following
will keep someone from having to take the test again? - Get the license within 90 days from the
successful test date.



An associate broker can do all of the following except: - Pay commissions



(Can: negotiate leases, prepare closing documents, and take listings)



An owner was paying his friend to collect the rents from a duplex on the other side of the city. Would the
friend be required to have a real estate license? - Yes, property managers who are being paid for
their work have to have real estate licenses.




A builder hires a secretary to sit in a model home in his development and sho the property to
prospective buyers. The secretary also coordinates subcontractors and acts as a receptionist for potential
buyers. The secretary is paid entirely by salary. Is it necessary for the secretary to have a real estate
license? - Yes, because she is working with potential buyers in a property that is being offered for
sale.



Branch Office - Any remote operation of the main real estate office which will be in operation
more than 12 months and must be registered with the Real Estate Division.

, 12 Hour New Agent Course - The continuing education course required by the Utah Division of
Real Estate for a new licensee's initial renewal period.



By Utah statute responsibility for licensing procedures belongs to the: - Real Este education
coordinator



Commissioners-at-large - The one member of the Commission that is from the general public.




Core - Continuing education topics that are specifically required by the Utah Division of Real
Estate.



Director of the Division - Appointed by Executive Director of the Department of Commerce.
Serves at pleasure of the Governor. Responsible for preparing budget for fiscal year, submitting each
years report to governor and legislature before or on 1st Oct. concerning the division's work for
preceding fiscal year.




Elective - A topic of continuing education that is not core, but satisfies the continuing education
requirements.



Executive Director of the Department of Commerce - The person who appoints the Director of the
Utah Division of Real Estate.



If there is a branch office, where should the records of branch transactions be kept? - The main
office of the branch office, as appropriate.



In Utah, a person operating a separate and independent property management company must hold
which of the following licenses? - Principal broker's license



Inactive License - A real estate license that is not on active status with the Utah Division of Real
Estate.

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