UTAH REAL ESTATE QUESTIONS AND
ANSWERS WITH VERIFIED SOLUTIONS
100% CORRECT!!!
1. Which of the following would NOT count toward the experience points
required for a broker license application?
A. Earning 60 points through property sales
B. Earning 45 points from sales and 15 from property management
C. Earning 45 from real estate activity and 15 from approved optional tasks
D. Earning 60 points through managing property for the owner as an employee
✔ Answer: D. Managing property while employed by the owner does not qualify
for experience points.
2. If a sole proprietor broker passes away, what should happen to the
company’s records?
A. The Division will appoint someone to take control
B. The estate's administrator becomes responsible
C. The Division must be informed of the storage location
D. The records must be handed over to the Division
✔ Answer: C. The Division should be notified about where the records are stored.
3. What is the name of the legal principle that governs water use and
distribution rights in Utah?
A. Beneficial Use
B. Prior Appropriation
C. Riparian Rights
D. Littoral Rights
✔ Answer: B. Prior Appropriation determines priority of water use in Utah.
4. What does the Marketable Record Title Act do?
A. Protects subdivision lot buyers
B. Has been in effect since the early 1900s
C. Makes clearing title issues easier
D. Assigns title to unclaimed land
✔ Answer: C. It simplifies the process of clearing title to property.
, 5. Where are official water rights documented in Utah?
A. At the County Recorder’s Office
B. With the Water Commissioner
C. In the Real Estate Division
D. In the State Engineer’s Office
✔ Answer: D. The State Engineer’s Office holds water right records.
6. Which of the following is NOT correct according to Utah’s Division Rules?
A. Agents are not allowed to use net listing agreements
B. Brokers can't retain earnest money without mutual consent
C. Licensees must update their broker on transaction activity
D. Agents must give clients copies of all documents from both parties upon request
✔ Answer: D. Agents are not required to give clients documents from both sides
of a transaction.
If the owner and principal broker of Jones Real Estate Co. decides to open a
separate property management company, which does NOT apply?
(a) The broker can manage both companies.
(b) The name can be different from the real estate company.
(c) There must first be more than six property management accounts.
(d) It can be called Jones Property Management Company. - ANSWER✔✔(c)
There must first be more than six property management accounts.
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 26
(b) January 28
(c) January 29
(d) February 1 - ANSWER✔✔(c) January 29
Explanation: According to the REPC, the Broker has 4 calendar days to deposit the
earnest money. Unless it is specified in an addendum to do something different, the
4 calendar rule must apply.
Licenses are renewed using the Real Estate License Management System on line.
How long must you keep paper proof of completion of your CE requirement?
ANSWERS WITH VERIFIED SOLUTIONS
100% CORRECT!!!
1. Which of the following would NOT count toward the experience points
required for a broker license application?
A. Earning 60 points through property sales
B. Earning 45 points from sales and 15 from property management
C. Earning 45 from real estate activity and 15 from approved optional tasks
D. Earning 60 points through managing property for the owner as an employee
✔ Answer: D. Managing property while employed by the owner does not qualify
for experience points.
2. If a sole proprietor broker passes away, what should happen to the
company’s records?
A. The Division will appoint someone to take control
B. The estate's administrator becomes responsible
C. The Division must be informed of the storage location
D. The records must be handed over to the Division
✔ Answer: C. The Division should be notified about where the records are stored.
3. What is the name of the legal principle that governs water use and
distribution rights in Utah?
A. Beneficial Use
B. Prior Appropriation
C. Riparian Rights
D. Littoral Rights
✔ Answer: B. Prior Appropriation determines priority of water use in Utah.
4. What does the Marketable Record Title Act do?
A. Protects subdivision lot buyers
B. Has been in effect since the early 1900s
C. Makes clearing title issues easier
D. Assigns title to unclaimed land
✔ Answer: C. It simplifies the process of clearing title to property.
, 5. Where are official water rights documented in Utah?
A. At the County Recorder’s Office
B. With the Water Commissioner
C. In the Real Estate Division
D. In the State Engineer’s Office
✔ Answer: D. The State Engineer’s Office holds water right records.
6. Which of the following is NOT correct according to Utah’s Division Rules?
A. Agents are not allowed to use net listing agreements
B. Brokers can't retain earnest money without mutual consent
C. Licensees must update their broker on transaction activity
D. Agents must give clients copies of all documents from both parties upon request
✔ Answer: D. Agents are not required to give clients documents from both sides
of a transaction.
If the owner and principal broker of Jones Real Estate Co. decides to open a
separate property management company, which does NOT apply?
(a) The broker can manage both companies.
(b) The name can be different from the real estate company.
(c) There must first be more than six property management accounts.
(d) It can be called Jones Property Management Company. - ANSWER✔✔(c)
There must first be more than six property management accounts.
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 26
(b) January 28
(c) January 29
(d) February 1 - ANSWER✔✔(c) January 29
Explanation: According to the REPC, the Broker has 4 calendar days to deposit the
earnest money. Unless it is specified in an addendum to do something different, the
4 calendar rule must apply.
Licenses are renewed using the Real Estate License Management System on line.
How long must you keep paper proof of completion of your CE requirement?
