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Real Estate > Who is who > Flashcards

Who is who Flashcards

1
Q

The mission of the Utah Division of real estate is to:
A: Protect Real Estate Licensees
B: Protect The Public
C: Protect Mortgage Licensees
D: Protect Appraisal Licensees

A

B: Protect The Public

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2
Q

The Real Estate Commission is made up of
A: 5 Members
B: 6 Members
C: 7 Members
D: 8 Members

A

A: 5 Members

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3
Q

The Utah Division of Real Estate delivers its newsletter:
A: Weekly
B: Monthly
C: Quarterly
D: Semi-Annually

A

C: Quarterly

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4
Q

Complaints against licensees for alleged violation of licensing law are filed with:
A: The Local Association Of Realtors
B: The Utah Association Of Realtors
C: The National Association Of Realtors
D: The Utah Division Of Real Estate

A

D: The Utah Division Of Real Estate

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5
Q

Utah Division of Real Estate

A

It is the Real Estate Licensing entity, that
grants you the license. is a Division of the Utah
Department of Commerce. The mission of the Utah Division of Real Estate is to protect the public and promote responsible business practices through education, licensure, and regulation of real
estate, mortgage, and appraisal professionals.
www.realestate.utah.gov

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6
Q

License Renewal

A

You need a minimum of 18 hours of continuing education (CE) (9 hours of core credit and 9 hours of elective credit) to be eligible to renew their real estate license. Real Estate License renewal is every 2 years.

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7
Q

Real Estate Commission

A
  • There are 5 members of the Real Estate
    Commission
  • You can earn 2 hours of CE by going to the
    meetings which are public.
  • Their purpose is to make certain rules are being
    followed
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8
Q

The National Association of Realtors:
A: Is The Largest Trade Organization In The United States
B: Provides Market Information And Statistics
C: Is Involved In Lobbying Efforts And Government Affairs
D: All Of The Above

A

D: All Of The Above

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9
Q

Which of the following statements is TRUE?
A: A Real Estate Licensee Must Join The Local Board Of Realtors
B: A Real Estate Licensee Must Join The Local Multiple Listing Service
C: A Real Estate Licensee Does Not Have To Join Either The Local Board Of Realtors Nor The Multiple Listing Service
D: A Real Estate Licensee Must Abide By The Code Of Ethics

A

C: A Real Estate Licensee Does Not Have To Join Either The Local Board Of Realtors Nor The Multiple Listing Service

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10
Q

Through The Division Of Real Estate Site

A
  • How to license
  • List of requirements for qualification
  • FEES * Once the test is passed and you go register with Division of Real Estate,
    you can actually start practicing real estate.
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11
Q

License Process

A

After you fill out the application it can be as fast as
one day for you to have your license. If there is a question about your past, and remember to stay transparent remember If in doubt, disclose it!

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12
Q

National Association of Realtors

A

www.realtor.org
Membership required
Largest Trade Organization in the Nation
Based out of Chicago Illinois
Law & Ethics
Dues $120 every January 1
Leadership, Education, Advocacy

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13
Q

Value of Membership

A
  • Savings and special offers on products (from car REALTOR Benefits® Programs to insurance
  • Services just for REALTORS® NAR offers expansive training and education options that cover all areas of real estate
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14
Q

Utah Association of Realtors

A
  • utahrealtors.com
  • Education
  • UAR Forms
  • Sales Statistics
  • Market Data
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15
Q

The Utah Association of Realtors provides:
A: Education
B: Market Data And Statistics
C: Government Affairs
D: All Of The Above

A

D: All Of The Above

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16
Q

Utah Association of Realtors

A
  • Political Advocacy and Awareness
  • Legal Tools a legal hotline
  • Online Legal Library
  • Professional Standards
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17
Q

Code of Ethics

A

Codes of conduct and behavior for professionalism and ethics that we agree to as members of the realtor association and realtor family.

18
Q

Boards and Brokers

A

You have to join the boards that the broker is associated with, within 30 days of joining that
broker.

19
Q

REALTOR®

A

is a licensed trademark and only obtainable by joining the local, state, and National Association of
Realtors

20
Q

Take Your Complaints To:

A

Utah Association Of Realtors is where you go for arbitration and mediation.

21
Q

The local Realtors Boards and Associations exist to:
A: Provide Real Estate Education
B: Gather Local Market Statistics
C: Provide Access To Supra Key Boxes
D: All Of The Above

A

D: All Of The Above

22
Q

The Multiple listing service exists to:
A: Provide Its Members With Access To Available Properties For Sale
B: Provide Its Members With Past Sold Data And Statistics
C: Provide Data Only To Its Paid Membership
D: All Of The Above

A

D: All Of The Above

23
Q

Local Association of REALTORS®

A
  • sirealtors.com
  • Real Estate Education
  • Gather Local Market Statistics
  • Provide Access To Supra Key Boxes
24
Q

MLS

A

A very valuable tool for understanding what’s available For your comparative market analysis (CMA) Breaks down with filters for search
Must join a board then you can join MLS

25
Q

3 Most Important Things

A

Your License
MLS
Knowledge of Real Estate

26
Q

Timely Payments

A
  • On Time Payments
  • Division Of Real Estate -Every 2 Years
  • Monthly Payments For Board Dues
  • Monthly MLS Dues
27
Q

In order to be able to use the title “Realtor®,” a real estate licensee:
A: Must Join The Local, State, And National Association Of Realtors
B: Must Join The Local And State Association Of Realtors
C: Must Join Only The National Association Of Realtors
D: Must Join The Local Multiple Listing Service

A

A: Must Join The Local, State, And National Association Of Realtors

28
Q

The Real Estate Office

A

Sales Agent
Associate Broker
Branch Broker
Principal Broker

29
Q

The Real Estate Commission meetings are open to the PUBLIC:
A: True, This Is Good Resource For The General Public To Understand What Was Taking Place
B: False, The General Public Was Not Allowed Into The Meetings
C: False, Only The Commissioner Meets With The Cabinet Members
D: False, Only A Selected Few Individuals Were Allowed Into The Meeting

A

A: True, This Is Good Resource For The General Public To Understand What Was Taking Place

30
Q

The Real Estate Commissioner can serve up to 2 terms (8 years):
A: True
B: False
C: Depends On The Regulations For The Term
D: Depends On The Cabinet Members

A

A: True

31
Q

This platform provides accurate and structured information/data about properties for sale:
A: MLS (Multiple Listing Service)
B: The Realtor Association
C: The Brokerage
D: None Of The Above

A

A: MLS (Multiple Listing Service)

32
Q

Real Estate Commissioner

A

Role 4 Year Term, Up To 8 Years Addresses Concerns With Division Real Estate Looks At The Rules That Governs Our Industry

33
Q

A real estate licensee needs to renew their real estate license:
A: Annually
B: Every Two Years
C: Every Three Years
D: Every Four Years

A

B: Every Two Years

34
Q

Membership in the local, state, and National Association of Realtors® must be renewed:
A: Annually
B: Every Two Years
C: Every Three Years
D: Every Four Years

A

A: Annually

35
Q

A real estate licensee needs a minimum of _________ hours of continuing education in order to renew their real estate license?
A: 9
B: 12
C: 18
D: 20

A

C: 18

36
Q

A real estate licensee needs a minimum of _________ hours of CORE continuing education in order to renew their real estate license.
A: 9
B: 12
C: 18
D: There Is No Minimum Requirement

A

A: 9

37
Q

A real estate licensee needs a minimum of _________ hours of ELECTIVE continuing education in order to renew their real estate license.
A: 9
B: 12
C: 18
D: There Is No Minimum Requirement

A

A: 9

38
Q

In Utah, complaints against licensees for alleged violation of The Code of Ethics are filed with:
A: The Local Association Of Realtors
B: The Utah Association Of Realtors
C: The National Association Of Realtors
D: The Utah Division Of Real Estate

A

D: The Utah Division Of Real Estate

39
Q

The website to access past issues of the Utah Division of Real Estate’s newsletter can be found at:
A: Www.realestate.utah.gov
B: Www.realtor.org
C: Www.utahrealtors.com
D: Www.slrealtors.com

A

A: Www.realestate.utah.gov

40
Q

In order to renew my real estate license, I need to have completed ALL of my continuing education hours by:
A: The 1st Day Of The Month In Which I Need To Renew
B: The 10th Day Of The Month In Which I Need To Renew
C: The 20th Day Of The Month In Which I Need To Renew
D: The Last Day Of The Month In Which I Need To Renew

A

B: The 10th Day Of The Month In Which I Need To Renew

41
Q

An instructor has how many days in which to bank continuing education credits?
A: Same Day
B: 3 Days
C: 5 Days
D: 10 Days

A

D: 10 Days

42
Q

The responsibility for renewing a real estate license on time lies with:
A: The Utah Division Of Real Estate
B: The Broker
C: The Licensee
D: The Board Of Realtors

A

C: The Licensee

Real Estate (52 decks)

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