Utah LicensEE Practice Exam 1-3

Question 1

What is the legal limit of a gift payed for an unsolicited referral?

Answer 1

$250

Question 2

A referral fee is only legal from an__________

Answer 2

AGENT

not title, loan officer, etc

Question 3

Which is a State of Utah approved form

Answer 3

All Inclusive Trust Deed

Addendum

Question 4

An agent is leasing a place for the owner. Which form can he use?

Answer 4

Any form approved by the owner

Question 5

Which is NOT an State Approved Form

Answer 5

Utah standard lease form

Question 6

When can one NOT use REPC

Answer 6

When an attorney of one of the principles draws up a sales contract

Question 7

Earnest money must be deposited within

Answer 7

3 BANKING days

Question 8

Unrepresented buyer wants to make an offer on a house. Which contract can they use

Answer 8

Any one they want to