and Answers 100% Pass
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. Prominently displayed
on the wall at his principal brokers office
A sales agent applicant may solicit listings and negotiate with prospects when he: -
✔✔obtains his license
The Real Estate Commission has: - ✔✔b. five members
Which of the following would be a proper disbursement from a broker's trust
account? - ✔✔d. plumbing repair bills for a property on which the broker has a
management contract
A branch office: - ✔✔d. must operate under the same name as the main office under
an associate broker
Funds received by a broker as earnest money must be deposited in the trust account:
- ✔✔c. within four banking days
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,A broker licensed in Utah as a nonresident principal broker must maintain a
principle
business location in: - ✔✔b. Utah
Provided that he or she has an active license, a sales agent may: - ✔✔c. act as an
agent for the broker his or her license is on file with
A real estate principal broker is prohibited from purchasing real estate on his own
behalf by - ✔✔a. rules of the Commission
b. Utah state statutes
c. the law of agency
answer d. None of the above
Duties of the Real Estate Commission include: - ✔✔a. promulgating rules relating to
the conduct of real estate brokers and sales agents
b. establishing license fees for real estate licensees
c. investigating complaints
d. all of the above
A real estate licensee who is an agent for the seller must: - ✔✔a. give the buyer and
the seller written notice that he or she is an agent for the seller
Which of the following would be required to have a real estate principal broker
present? - ✔✔a. An auctioneer auctioning real estate
In the case of a violation of the license law by a licensee, the licensee may be subject
to a - ✔✔a. civil penalty of up to $500
b. criminal fine of up to $1,000
c. lawsuit for civil damages
d. all of the above
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, A real estate principal broker must maintain a copy of closing statements: - ✔✔b. for
three years following the year in which closing occurred
A sales agent who has both negotiated the listing and found the buyer for the
property may bring a lawsuit against which of the following for the commission if
the commission is not paid as agreed in the listing? - ✔✔b. The sales agent's
principal broker
The lien for real property taxes attaches as of: - ✔✔a. January 1
To claim a mechanic's lien for materials supplied, a supplier must file a notice of the
lien in the public record within? - ✔✔90 Days after the material is supplied
Which of the following would not be shown on a subdivision plat? - ✔✔d. Location
of the home on the lot
A long-range guide for the development of a community is called a: - ✔✔a. master
plan
Which of the following statements regarding the Utah Uniform Land Sales Practices
Act is NOT true? - ✔✔b. The Act does apply to the disposition of timeshare interests
in an existing
condominium
If a landowner desires a variance from an existing zoning ordinance, the landowner
would make an appeal to: - ✔✔c. the county or city Board of Adjustment
In regards to water rights, Utah follows: - ✔✔a. an appropriation system
The trustor in connection with a trust deed is the party who: - ✔✔c. signs the note
The successful bidder at a sheriff's sale receives: - ✔✔a. a certificate of sale
All of the following statements are true regarding a mortgage foreclosure, except: -
✔✔b. there is not right of redemption following the foreclosure sale
Which of these statements is true in regard to real estate contracts (installment sale
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