Utah Real Estate License Exam With 400

pg. 1 Utah Real Estate License Exam With 400 Actual Exam Prep Questions and Correct Verified Answers/ Utah Real Estate Test | Utah Real Estate Exam (Brand New!)

When conducting a formal adjudicatory hearing, the Utah Division of Real Estate has the authority to ____.

• Demand the licensee be incarcerated
• Forbid the licensee to testify
• Issue subpoenas to those who were involved in the investigation
• Withhold evidence from the judge

Issue subpoenas to those who were involved in the investigation Broker Zane wants to prepare a closing statement estimate for his seller client.Where can he find the information he needs to complete the statement?

• The balanced closing worksheet
• The estimated net loan proceeds
• The executed contract
• The lender's loan statement

The balanced closing worksheet The Utah Division of Real Estate will pay witnesses for their assistance. Which are acceptable expenses the division will pay?

• Lost wages
• Pain and suffering
• Parking
• Travel expenses

Travel expenses The State of Utah created the Office of the State Engineer (and its name was changed in 1967 to Division of Water Rights) in order to do which of the following?

• Adjudicate water right disputes
• Administer water rights 1 / 4

pg. 2

• Create water right application forms
• Measure water usage rates in Utah cities

Administer water rights A recovery claim against broker Neil for a judgment of misrepresenting his client Joseph has been approved. What action will the division take?

• Ban him from practicing real estate in Utah.
• Revoke his license until he repays the fund.
• Revoke his license until he repays the fund, including interest.
• Suspend his license for 60 days.

Revoke his license until he repays the fund, including interest.At a convention, you meet Leon, a broker from across town. After a few drinks, he brags to you that he doesn't have a license and actually has never been licensed in his ten years of practice. You are understandably shocked by this revelation and you're pretty sure it deserves an investigation. Where should you go?

• To Leon's principal broker
• To the Utah legislature
• To the Utah real estate commission
• To the Utah REALTOR® Commission

To the Utah real estate commission Karen, a new licensee at a branch office of Western Homes brokerage, calls her principal broker, Vivian, to ask if she can deposit the down payment for a client who isn't hers. She says she's been the only person at the branch office all week.What should Vivian say?

• "Clients have to deposit down payments themselves."
• "No, the licensee who has an agency relationship with the client needs to deposit

the money."

• "You aren't authorized to do any work over there without an associate broker

actively managing you. Where is Pedro, anyway?"

• "You can deposit the money as long as you and the client sign an agreement

form." "You aren't authorized to do any work over there without an associate broker actively managing you. Where is Pedro, anyway?" 2 / 4

pg. 3 Dawn is filing a complaint against her appraiser management company. In her complaint she included her contact information, complaint details, and signature.What's she missing?

• Court filing stamp
• Filing fee
• Notarize the document
• Property location

Property location Which of the following situations is outside of the Utah Division of Real Estate's jurisdiction?

• Client Hayden says he has proof that his appraiser and broker are colluding to

keep prices high.

• Evelyn tried to buy a timeshare but claims that timeshare broker Kenneth

promised her three weeks and she only got two.

• Kathi just bought a house and claims that her credit union promised her one

interest rate but gave her a higher one.

• Real estate investor Cyril says that he hired a man named Porter as his real estate

broker, but Porter is not licensed.Kathi just bought a house and claims that her credit union promised her one interest rate but gave her a higher one.You are a licensee and will be going over the Buyer Financial Information Sheet with a client tomorrow. After you get home, you realize you don't have a copy of the form, but you'd like to review it. You'd rather not drive back to your brokerage to get it. What is your best option?

• Sorry, but you're going to have to bite the bullet and drive back to your

brokerage to get the form.

• You can do an Internet search for "exclusive agency agreement form" and

download one that looks good.

• You can go to the Utah Real Estate Division website and find the form there.
• You can visit the Utah Association of REALTORS® website and find the form

there.You can go to the Utah Real Estate Division website and find the form there.Which of the following best explains why water rights in Utah can be forfeited?

• Because, through the doctrine of prior appropriation, water rights periodically 3 / 4

pg. 4 revert to those with a prior claim on it.

• Because Utah regularly experiences periods of significant drought.
• Because Utah uses a system of riparian water rights, which means that no one

can own a water right for more than seven years.

• Because water is scarce and, in Utah, it's required to be used for the public good.

Because water is scarce and, in Utah, it's required to be used for the public good.Tom and Jim are neighbors. Jim wants to buy Tom's rental property in Utah. In the contract that Tom and Jim sign, Jim is identified only as "the neighbor." Which statute or contract element does this violate?

• Consideration
• Legal purpose
• Offer and acceptance
• The statute of frauds

The statute of frauds In Utah, which of the following would be considered illegal compensation?

• Commission shared with another licensee
• Referral fee from another licensee
• Referral fee given to another licensee
• Undisclosed compensation

Undisclosed compensation Julian's bank wants to see evidence that he's paid at least one year of ________ by the settlement date for his Utah home.

• Homeowners insurance
• Mortgage insurance
• Property tax
• Utilities

Homeowners insurance A water right that's attached to a piece of property and can't be sold separately is called _______.

• a jointly-owned water right
• an inherited water right
• a perfected water right
• a water right appurtenant
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