Download New 2025 UTAH Real Estate License Exam With Actual Exam PREP Questions and Correct Verifie and more Exams Real Estate Management in PDF only on Docsity!
New 2025 UTAH Real Estate License Exam
With Actual Exam PREP Questions and Correct
Verified Answers/ Utah Real Estate Test 2025-
2026 | Utah Real Estate Exam 2025 (Brand
New!)
Dennis and Sarah are the listing agent and principal broker for a Utah transaction scheduled for settlement next week. Which closing document tells the title insurance company the commission amounts they'll each receive when the sale closes? a. Closing Disclosure b. Closing instructions c. Closing statement d. Loan Estimate Closing instructions Leslie represents Mr. and Mrs. Connelly. The three of them just met with Mick, a consumer, who signed a Notice of No Agency Relationship form. Which of the following is true about this situation? a. Leslie can now legally facilitate a real estate transaction between these two parties. b. Leslie is now a dual agent for the Connellys and Mick on any upcoming sales transaction. c. Leslie may now legally be paid commission. d. Mick is now Leslie's client. Leslie can now legally facilitate a real estate transaction between these two parties. To claim adverse possession, a possessor must file an action to ______.
a. Invoke the principle of tacking b. Meet hostile possession requirements c. Prove open and notorious possession d. Quiet title Quiet title A licensee may be convicted of multiple felonies under what circumstances? a. Found guilty of a civil or criminal conviction b. Found guilty of more than two civil or criminal convictions c. Found guilty of more than two misdemeanors d. Not paying court-imposed fines Found guilty of more than two civil or criminal convictions 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? a. Adjudicate water right disputes b. Administer water rights c. Create water right application forms d. Measure water usage rates in Utah cities Administer water rights You're the listing agent for the Browns, so you have a duty of obedience to them. They've noticed moisture in the basement but only after very hard rains. They've asked you not to disclose that to any potential buyers. What should you do?
a. For referring his client to Highland Mortgage Services, one of the lenders there gives licensee Jimmy a commission. b. Julian, a property manager, pays one of his tenants a $200 commission for finding a tenant for a nearby empty unit. c. Licensee Jody receives a referral commission from her old college friend and passes it along to Tyler, her principal broker. d. Licensee Rob receives a commission check from an unlicensed clerk at one of the brokerage's branches. For referring his client to Highland Mortgage Services, one of the lenders there gives licensee Jimmy a commission. What are the penalties that the commission can give for violating real estate license rules and regulations in Utah? a. Jail time b. Licensee revocation, declaratory judgment c. License probation, $2,000 fine, License suspension d. License probation, suspension, revocation; fines, educational requirements and cease and desist order. License probation, suspension, revocation; fines, educational requirements and cease and desist order. 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? a. To Leon's principal broker b. To the Utah legislature c. To the Utah real estate commission
d. 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? a. "Clients have to deposit down payments themselves." b. "No, the licensee who has an agency relationship with the client needs to deposit the money." c. "You aren't authorized to do any work over there without an associate broker actively managing you. Where is Pedro, anyway?" d. "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?" April and Wayne are the buyer and seller of a condo, respectively. April is represented by Steve. Wayne is represented by Wanda. Name the principal(s) in this transaction. a. April and Wayne b. Only Wanda c. Only Wayne d. Steve and Wanda April and Wayne Your buyer clients had a home inspection done, and it turns out that the water heater is on its last legs and should be replaced immediately before it bursts. What advice do you provide to your buyers?
a. A requirement that all general contractors be licensed b. A restriction on general contractors' financing methods c. Giving lien rights to every subcontractor who worked on a project d. The creation of the Lien Recovery Fund The creation of the Lien Recovery Fund Who is responsible for auditing brokerage firms transactional and trust account records? a. Department of Incorporation b. State district court c. Utah Division of Commerce d. Utah Division of Real Estate Utah Division of Real Estate Darrick completed four hours of CE core and six elective hours the first year after his renewal. The second year, he completed another four hours of core and five elective CE hours. Which of these statements is true? a. Darrick has met Utah's CE requirements to renew his license. b. Darrick must take one more hour of an elective. c. Darrick must take one more hour of core CE. d. Darrick must take two more hours of CE, either core or elective. Darrick must take one more hour of core CE. Where can a party reviewing a title commitment find requirements that must be met before a title insurance policy will be issued?
a. Schedule A b. Schedule B- 1 c. Schedule B- 2 d. This is not contained in the title commitment. Schedule B- 1 Courtney, Martha, and Rachel live in a house that they own together; each has a share in the property. By what term is this arrangement known? a. Joint tenancy b. Professionally sponsored property c. Timeshare arrangement d. Undivided fractionalized long-term estate Undivided fractionalized long-term estate Barry has always had an interest in real estate. He's helped a few friends to determine the asking price for their properties, and now he's considering going into business doing this kind of work, for a fee. Does Barry need a Utah real estate license? a. It depends on how many hours a year he does real estate work. b. It depends on where he lives in Utah. c. No, he doesn't. d. Yes, he does. Yes, he does.
Which of the following people or entities don't pay into the Real Estate Education, Research, and Recovery Fund? a. Baylor, a sales agent, submits his application for his broker's license. b. Broker Winnie was just found guilty of mortgage fraud and was assessed a fine of $2,000. c. Pine Tree Brokerage was found guilty of not keeping accurate trust fund records. d. Principal broker Gemma owes the division about $100 in interest for a payout they made on her behalf last year. Pine Tree Brokerage was found guilty of not keeping accurate trust fund records. Aside from her license being revoked, what other consequences may licensee Kim face when the recovery fund pays a judgment on her behalf? a. Community service b. Disciplinary actions c. Negative credit rating d. Tax penalties Disciplinary actions What's the purpose of the buyer representation agreement in Utah? a. To disclose brokerage relationship options to consumers b. To establish an exclusive agent/buyer relationship c. To limit the duties a licensee may perform for a consumer d. To register an agency as a real estate brokerage firm To establish an exclusive agent/buyer relationship
Jayna has been showing her friend Wallace houses for almost a month. Finally, Wallace says, "let's do this!" and the two of them sign a buyer agency agreement. Which of the following best describes this action? a. Jayna and Wallace now have an agency agreement. b. Jayna is now Wallace's transaction broker. c. Wallace is Jayna's customer, but not her client. d. Wallace is no longer responsible for Jayna's actions. Jayna and Wallace now have an agency agreement. If the buyer and seller in a Utah real estate transaction both have costs to pay, how do the parties know who pays what? a. Closing statement b. Home inspection report c. Loan Estimate d. Purchase contract Closing statement How will seller Todd pay the broker's commission? a. The closing agent disburses commissions from proceeds of the sale. b. Todd writes a check to his broker and to the brokerage firm. c. Todd writes a check to the closing agent for the broker's commission. d. Todd writes one check to his listing broker's managing broker.
Water rights are attached to any land that touches that water. How many hours of continuing education must every Utah licensee complete during a two-year license period? a. 18 b. 24 c. 48 d. 60 18 Which of the following costs would a seller likely pay? a. Recording fees for the new loan b. Recording fees related to release of the lien c. The appraisal fee d. The survey fee Recording fees related to release of the lien Whoops—licensee Derek has been found guilty of changing his trust fund records to hide missing money. This is his second conviction. Which of the following is true about his situation? a. Because this is a serious crime, in this case Derek may not file an appeal. b. Derek's actions are classified as a third-degree felony, and he may go to prison. c. The Utah Division of Real Estate can suspend his license, but they can't impose a fine.
d. The Utah Division of Real Estate can't get involved. They must turn this matter over to law enforcement. Derek's actions are classified as a third-degree felony, and he may go to prison. Ernesto is a Utah licensee who is thrilled to receive an unsolicited referral from the pastor of his church. Which of the following is a true statement? a. Ernesto can give his pastor a gift of $150 or less as a thank you. b. Ernesto can give his pastor a referral fee of $150 or less. c. Ernesto isn't allowed to give a referral fee or a gift to his pastor. d. If the referral pays off, Ernesto can split the commission with his pastor. Ernesto can give his pastor a gift of $150 or less as a thank you. Jana, a principal broker, found out that two of the unlicensed clerks in her brokerage, Daniel and Woodrow, had been preparing and signing sales documents while she was out on vacation. Which of the following is true? a. Daniel and Woodrow are allowed to do such activities if a broker is supervising them. b. Jana may avoid penalties by terminating Daniel and Woodrow's employment. c. Jana may face penalties for not properly supervising her unlicensed employees. d. The clerk who has seniority could be fined; the other clerk will be given a warning. Jana may face penalties for not properly supervising her unlicensed employees. Daniel is buying Therese's condo. Daniel and Therese will both attend a meeting on August 2 to sign closing documents. This meeting takes place on ________. a. Closing day
Gabrielle is a new licensee in Utah. She's received several referrals from a friend who is a retired real estate professional, whose license is inactive. Is she allowed to give her friend a referral fee? a. No, because his license status is inactive b. No, because referral fees are always illegal in Utah c. Yes, as long as it's for less than $ d. Yes, as long as the referral was unsolicited No, because his license status is inactive Which of the following scenarios shows why it's important for a brokerage to keep proper real estate transaction records? a. Buyer client Sylvester needs to know if the title for a property he wants to buy is clear. b. Christian, a broker, deposited a down payment for client Stephanie about three weeks ago, and she'd like some information about the account. c. Client Bridget would like to know the ethnographic makeup of several of the neighborhoods she wants to live in. d. Principal broker Mariam has been accused of unethical advertising and she needs documentation to prove the accusation untrue. Christian, a broker, deposited a down payment for client Stephanie about three weeks ago, and she'd like some information about the account. Sheila was charged with fraud for misrepresenting a house that she was selling. She's just received word from her lawyer that this misdemeanor is on hold and she won't be getting criminal charges anytime soon. Which of the following is true about this situation? a. Sheila must notify the division of this news within 10 business days. b. Sheila needs to notify her principal broker, and that's where her responsibility ends. c. Sheila's lawyer is responsible for notifying the division within two weeks. d. Since the criminal charges haven't yet come to pass, Sheila doesn't have to notify the division yet.
Sheila must notify the division of this news within 10 business days. When Utah licensees receive funds related to a transaction, which of the following is a true statement? a. They must deposit the funds within three banking days. b. They must hold onto the funds until they receive written instruction from the parties or until closing. c. They must inform their principal broker and deposit the funds immediately. d. They must inform their principal broker and immediately turn over the funds. They must inform their principal broker and immediately turn over the funds. Principal broker Abdul has just received a cease and desist order from Juab County as a result of several real estate transactions over the last three months. Which of the following is true about this situation? a. He must, by law, refrain from practicing real estate for at least 60 days. b. He needs to report this to the division within 10 business days. c. His only responsibility is to resolve this matter with Juab County officials. d. The division will suspend his license for at least 30 days. He needs to report this to the division within 10 business days. Utah affiliated branch broker Elle designates licensee Ted to complete the closing documents for a transaction she can't attend. Elle doesn't get her principal broker's permission before making this designation. Does Elle have the authority to do this? a. No. Affiliate brokers have the authority to designate licensees to complete closing documents for a transaction, but only with their principal broker's permission. b. No. Only principal brokers have the authority to designate another licensee to complete closing documents, and they may only designate affiliate brokers or associate brokers to do so.
a. After a water right is secured, this form must be submitted to protect historic properties from flood damage. b. It ensures that during times of drought, the water right is still valid. c. It helps make sure that no historic structures are damaged by the new water right. d. This form ensures that no one can appropriate water within ten miles of any historic structure. It helps make sure that no historic structures are damaged by the new water right. What are the acceptable ways for a consumer to submit a complaint to the division other than by fax or in person? a. Certified mail b. Interview with division employee c. Mail d. Online form Mail Which of these is the best definition of "water appropriation?" a. Diverting available water for a beneficial use b. Forfeiting a water right due to nonuse c. Making an offer to buy part of someone's water right d. Temporarily putting a water use on hold because of drought Diverting available water for a beneficial use Which of the following agreements gives you the sole right to represent a buyer in Utah?
a. Exclusive listing agreement b. Exclusive right-to-list agreement c. Exclusive right-to-represent agreement d. Exclusive right-to-sell agreement Exclusive right-to-represent agreement What power lies with the executive director of the Utah Department of Commerce for formal post- hearing decisions? a. Affirm the decision b. Appeal to district court c. Revoke the decision d. Withdraw the decision Affirm the decision Lloyd has been busy. He provided a statement of transaction status to seller Sean 30 days before closing. He also reviewed final settlement statements for accuracy before the actual closing in three days. However, Lloyd will not be attending the closing. What's Lloyd's job? a. Lloyd is a principal broker. b. Lloyd is the buying agent. c. Lloyd is the selling agent. d. Lloyd is the title insurance agent. Lloyd is a principal broker.
