Utah Sales Law exam Questions and Answers 100% Pass

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 Account? (a) January 28 (b) January 26 (c) February 1 (d) January 29 d A broker in Vernal lists a property in Roosevelt under an exclusive right to sell listing. The selling broker does not sell through the listing broker. This could create: (a) Double commission (b) Dual disposition (c) Dual agency (d) Double contract a A person who owned a condominium might own any of the properties described below EXCEPT: (a) A medical/dental building (b) A unit in a light industrial complex (c) A single family dwelling (d) A nine-hole golf course d When the Division thinks a licensee is violating Utah Real Estate Law, before the hearing they may: (a) Issue a "writ of attachment." (b) Freeze the trust account to protect against embezzlement. (c) Suspend the license of the individual involved in the questionable activities. (d) Issue a "Cease and Desist Order." d 15. You list a home that has an old well on it. The seller knows nothing about it. It is not being used now, but the seller doesn't know who has the water rights. Where would you check to find out. (a) Division of Water Rights. (b) Water Usage & Appropriations Commission (c) State Water Commissioner. (d) Utah Real Estate Division, Water Rights Section. a If a principal broker dies, and it is a sole proprietorship, what should be done with the records of the company? (a) A receiver will be appointed by the Division to handle the records. (b) The Division should be notified as to where the records will be stored. (c) They must be transferred to the Division. (d) The administrator of the broker's estate must keep the records. b Under the Division Rules, which of the following is NOT correct? (a) When requested by the client, the agent must give them copies of documents from both sides of the transaction. (b) Licensees shall keep their broker informed regarding their transactions. (c) Net listings shall not be taken by a licensee. (d) A principal broker cannot keep part of the earnest money unless both parties agree. a Which of the following is NOT required for an unlicensed auctioneer to conduct an auction of real property? (a) A principal broker is present at the auction. (b) The Real Estate Purchase Agreement is used and filled out by a licensee. (c) The earnest money is deposited in the broker's trust account. (d) A principal broker has reviewed and initialed all