Utah portion of the Real Estate exam
Questions and Answers (100% Correct
Answers) Already Graded A+
QUESTIONS AND ANSWERS
With regard to assignability, Utah's REPC states what?. ANSWER -no assignment
without prior written consent of the seller
A Closing Disclosure is a five-page form that provides final details regarding what?.
ANSWER -The buyer's real estate transaction.
Where is a new loan amount to be acquired by the buyer indicated on a Utah REPC?.
ANSWER -page 1
On the REPC, where does the sales price being offered by the buyer appear?. ANSWER -
page 1
A real estate agent wishes to hire other real estate agents to work with them in a team.
What is required in order for them to do this?. ANSWER -They must get their broker's
permission.
A candidate for real estate licensing in Utah must apply for their license and place it on
either active or inactive status within how many days of passing their real estate exam,
assuming they are within the one-year requirement?. ANSWER -90 days.
A hotel manager receives compensation from the hotel owner for managing the hotel
property.. ANSWER -This hotel manager is not required to have a real estate license.
A student in a real estate school applies to take their real estate exam before completing
their 120 hours of schooling. As the date of their scheduled exam draws near, they have not
yet passed all their exams at the school with the required passing rate. They should:.
, ANSWER -contact the testing center prior to 4 days before their test date to
reschedule without financial penalty.
When must the closing disclosure form be issued?. ANSWER -Three business days
before the loan consummation.
The Statute of Frauds refers to:. ANSWER -agreements concerning real estate must be
in writing to be enforceable.
The prime obligation of an agent to the principal is:. ANSWER -loyalty.
In order to collect any funds from the Real Estate Education, Research, and Recovery Fund,
the aggrieved person must first obtain:. ANSWER -a judgment from a court of
jurisdiction.
If engaged in real estate activities, all of the following are exempt from the real estate
licensing requirements EXCEPT. ANSWER -a neighbor who assists in the sale of their
neighbor's home for a small fee.
A principal broker who regularly engages in property management on behalf of seven or
more individual units shall establish at least one property management trust account that
is:. ANSWER -separate of their other trust accounts.
If a member of the public has been financially damaged by the actions of a real estate
licensee in Utah and has applied for reimbursement to the Utah Division of Real Estate's
Education, Research, & Recovery Fund, how much money can they receive?. ANSWER -
The full amount of their damage.
A salesperson serving the needs of a buyer with a signed buyer agency contract may be
compensated for their services by:. ANSWER -the broker
What does TIP stand for on the Closing Disclosure Form?. ANSWER -Total Interest
Percentage.
Questions and Answers (100% Correct
Answers) Already Graded A+
QUESTIONS AND ANSWERS
With regard to assignability, Utah's REPC states what?. ANSWER -no assignment
without prior written consent of the seller
A Closing Disclosure is a five-page form that provides final details regarding what?.
ANSWER -The buyer's real estate transaction.
Where is a new loan amount to be acquired by the buyer indicated on a Utah REPC?.
ANSWER -page 1
On the REPC, where does the sales price being offered by the buyer appear?. ANSWER -
page 1
A real estate agent wishes to hire other real estate agents to work with them in a team.
What is required in order for them to do this?. ANSWER -They must get their broker's
permission.
A candidate for real estate licensing in Utah must apply for their license and place it on
either active or inactive status within how many days of passing their real estate exam,
assuming they are within the one-year requirement?. ANSWER -90 days.
A hotel manager receives compensation from the hotel owner for managing the hotel
property.. ANSWER -This hotel manager is not required to have a real estate license.
A student in a real estate school applies to take their real estate exam before completing
their 120 hours of schooling. As the date of their scheduled exam draws near, they have not
yet passed all their exams at the school with the required passing rate. They should:.
, ANSWER -contact the testing center prior to 4 days before their test date to
reschedule without financial penalty.
When must the closing disclosure form be issued?. ANSWER -Three business days
before the loan consummation.
The Statute of Frauds refers to:. ANSWER -agreements concerning real estate must be
in writing to be enforceable.
The prime obligation of an agent to the principal is:. ANSWER -loyalty.
In order to collect any funds from the Real Estate Education, Research, and Recovery Fund,
the aggrieved person must first obtain:. ANSWER -a judgment from a court of
jurisdiction.
If engaged in real estate activities, all of the following are exempt from the real estate
licensing requirements EXCEPT. ANSWER -a neighbor who assists in the sale of their
neighbor's home for a small fee.
A principal broker who regularly engages in property management on behalf of seven or
more individual units shall establish at least one property management trust account that
is:. ANSWER -separate of their other trust accounts.
If a member of the public has been financially damaged by the actions of a real estate
licensee in Utah and has applied for reimbursement to the Utah Division of Real Estate's
Education, Research, & Recovery Fund, how much money can they receive?. ANSWER -
The full amount of their damage.
A salesperson serving the needs of a buyer with a signed buyer agency contract may be
compensated for their services by:. ANSWER -the broker
What does TIP stand for on the Closing Disclosure Form?. ANSWER -Total Interest
Percentage.
