1
Real Estate Exam Utah Law EXAM (2025
updated) QUESTIONS AND ANSWERS
(DETAILED & ELABORATED) fully solved
Where should a broker keep sales agents' licenses? - (answers)Broker's file
What happens to sales agents' licenses when the broker's license is revoked? -
(answers)Their license is inactivated
How does the broker get back in the business if his/her license is revoked? -
(answers)Must start over with sales agent license, after waiting five years
What is the main purpose of the continuing education? - (answers)To protect the
public
What is a double contract as contrasted with double commission or dual agency?
- (answers)When a second contract or our EPC is created to deceive a lender
Purpose of the first hundred thousand dollars in the recovery fund? - (answers)To
protect the public from dishonest licensees
How much equity could be projected for the head of the household, spouse and
three dependents? - (answers)$40,000
, 2
What is the main purpose of the Marketable Record Title Act? - (answers)Simplify
and stabilize title searches
Who can have the 120 hours education requirement waived? - (answers)A
member of the Utah Bar
Who does the governor point? - (answers)Commissioners
What does the Real Estate Commission NOT get involved with? -
(answers)Disputes involving commission splits
What does it take to have earnest money earn interest? - (answers)Separate
account, written approval of both parties as to who gets the interest
What is a net listing? Is it illegal? - (answers)A net listing is selling a property for a
determined price where the seller Only requires a small amount of money and let
the agent have the rest (huge commission); it is ILLEGAL in the state of Utah
After foreclosure, there's not enough money to cover all files of the mechanic's
liens. What is the priority of payoff? - (answers)Laborers first, suppliers and subs
second, general contractor last
If there is a $5000 earnest money deposit and the sale fails, how can the broker
receive $2500? - (answers)Only with written approval of both buyer and seller
Real Estate Exam Utah Law EXAM (2025
updated) QUESTIONS AND ANSWERS
(DETAILED & ELABORATED) fully solved
Where should a broker keep sales agents' licenses? - (answers)Broker's file
What happens to sales agents' licenses when the broker's license is revoked? -
(answers)Their license is inactivated
How does the broker get back in the business if his/her license is revoked? -
(answers)Must start over with sales agent license, after waiting five years
What is the main purpose of the continuing education? - (answers)To protect the
public
What is a double contract as contrasted with double commission or dual agency?
- (answers)When a second contract or our EPC is created to deceive a lender
Purpose of the first hundred thousand dollars in the recovery fund? - (answers)To
protect the public from dishonest licensees
How much equity could be projected for the head of the household, spouse and
three dependents? - (answers)$40,000
, 2
What is the main purpose of the Marketable Record Title Act? - (answers)Simplify
and stabilize title searches
Who can have the 120 hours education requirement waived? - (answers)A
member of the Utah Bar
Who does the governor point? - (answers)Commissioners
What does the Real Estate Commission NOT get involved with? -
(answers)Disputes involving commission splits
What does it take to have earnest money earn interest? - (answers)Separate
account, written approval of both parties as to who gets the interest
What is a net listing? Is it illegal? - (answers)A net listing is selling a property for a
determined price where the seller Only requires a small amount of money and let
the agent have the rest (huge commission); it is ILLEGAL in the state of Utah
After foreclosure, there's not enough money to cover all files of the mechanic's
liens. What is the priority of payoff? - (answers)Laborers first, suppliers and subs
second, general contractor last
If there is a $5000 earnest money deposit and the sale fails, how can the broker
receive $2500? - (answers)Only with written approval of both buyer and seller
