Ch 2 Licensing Requirements

Felonies must be disclosed if the conviction occurred less than?

All felonies must be disclosed.

Which of the following persons would not need to attend the required sales licensing course to get a license?

An attorney who passed the bar in Utah.

A misdemeanor could make an applicant inedible for licensure in which of the following situations?

Any misdemeanor for dishonesty or fraud within 3 years.

Which of these administers real estate licensing?

Division of Real Estate

The broker candidate must provide documentation that is not needed for associate broker candidates. From the following list select those items that are required of broker candidates but are not required of associate broker candidates.

Documentation of a trust account

The broker candidate must provide documentation that is not needed for associate broker candidates. From the following list select those items that are required of broker candidates but are not required of associate broker candidates.

Documentation of the business name

A broker license application requires licensing fees, including a fee for the:

Education, Research and Recovery Fund

A sales agent license application requires licensing fees, including a fee for the:

Education, Research and Recovery Fund

Candidates are not eligible for licensure if they have been convicted or entered a plea in abeyance or completed a sentence of confinement for a:

Felony within 5 years or a misdemeanor for dishonesty within 3 years.

G has completed the pre-license course, and they are applying for their license. They decided not to affiliate with a broker on their application. Which is true?

G will be issued an inactive real estate license.

Which of the following would NOT automatically keep you from being granted a real estate license?

Getting three speeding tickets in the last five years.

To get a broker's license, the applicant must meet which of the following requirements?

Have three years with an active license and acquire at least 60 pints in real estate transactions.

Broker candidates may substitute experience points from what table for non-real-estate brokerage experience?

III

A sales agent will receive experience points toward a broker license by doing which of the following?

Listing a property that closes.

T completed the Pre-License Course on March 1, 2017. He passed the license exam on February 1, 2018. What is the deadline for him to submit his license application?

March 1, 2018

Which of these in the last 3 years would cause a sales agent application to be denied?

Misdemeanor for dishonesty

Which of the following within the past 3 years would disqualify a sales agent applicant from receiving a sales agent license?

Misdemeanor for theft

If a real estate licensee is convicted of theft or false statements, what must they do?

Notify the Division of Real Estate.

In order to get experience points for a broker application, a sales agent can do what?

Represent a buyer in a home sale.

What are the 3 real estate license types in Utah?

Sales agent, associate broker, broker

The purpose of the background questions is:

to determine your moral character.

Completing the background questionnaire inaccurately:

triggers immediate revocation when discovered.

A broker may be terminated by:

written notice

Which of the following is true?

The applicant has 90 days to apply for a license after completing the exam successfully.

Which of the following is true?

The candidate has 1 year from completing the education to apply for a license.

Which of the following is true?

The candidate must pass both parts of the exam within 6 months.

What is the difference between a principal broker and an associate broker?

The principal broker is designated by the brokerage owner and Division of Real Estate as the only agent in the company representing its clients.

How are the requirements different for getting a license to be an associate broker from the requirements for being the principal broker of an office?

There is no difference; they must meet the same requirements.

J wanted to get a real estate license, but was a little concerned because of a past instance of getting in trouble with the law. If J had actually been convicted of the offense, how long would the wait be to be able to be licensed?

Three years for fraud and five years in the case of a felony.

The required 120 education hour4s for a sales agent license may be waived after submitting proof of the following:

Utah Bar Association membership

An associate broker is:

a person qualified by state license to be a principal broker except they lack their own trust account, registered business name and formal licensure as a broker by the Division.

A plea in abeyance is best defined as:

an admission of guilt, but, your admission is put on hold while you complete the requirements ordered by the judge. Upon completion of these terms, the guilt plea is withdrawn and the charges are dismissed.

A sales agent fulfills the requirements to get their associate broker license. Now they:

are still required to work under a principal broker or branch broker.

The statutory requirement for becoming a broker is:

be an active real estate licensee for three of the last five years.

The associate broker / broker candidate must document how many points from Table I or Table II?

45

Any felony could prevent licensure qualification if the incident occurred within the last ____ years.

5

Associate broker candidates must have been active licensed sales agents for at least 3 of the previous _____ years.

5

Both exams must be completed within how many months of each other?

6 months

A broker license application must include an education certifying document, a passing score on the broker license exam, and:

60 experience points documented

Which of the following options would NOT satisfy the points requirement for a broker applicant to get their license?

60 points for property management while employed by the owner.

Sales agent candidates must pass the license exam with a _____ score or better.

70%

The licensing exam is in two parts. The candidate must pass each part with at least a ____% score for a sales agents and ____% for broker and associate broker candidates.

70%, 75%

Associate broker candidates must pass the license exam with a ____ or better score.

75%

After you pass the real estate license exam, how many days do you have to apply for your license?

90

B just passed the license exam. He must now provide the Division of Real Estate evidence of completing the required education within ________________ in order to prevent having to retake the exam.

90 days

If a real estate licensee is convicted for driving under the influence, or a DUI, what must they do?

A DUI will not affect their real estate license.

The candidate has completed the exam successfully, how long does she have to submit an application for licensure?

3 months

An associate broker candidate must have been active for at least the previous ____ years.

3 out of 5

How many experience points can be obtained from another state outside of Utah to apply for a broker license?

30

Select two of the following items of documentation that are required of an existing Utah sales agent in order to apply for an associate broker or broker license.

-At least 60 experience points -Background questionnaire

Which of the following is required to obtain a real estate license in Utah?

-High school diploma or GED -Over 18 years of age -Pass the exam -US citizen or legal alien

A nonresident agent or licensee of another state must document all the same requirements as a new candidate would who resides in Utah and is not seeking transfer credit of experience or license from another state. In addition to the requirements that other license candidates must provide, which of the following must be provided by a nonresident agent?

-License history from any other state in which the candidate has been licensed. -Irrevocable written consent for the Division of Real Estate to receive legal service. -If a sales agent or associate broker candidate, affiliation with an Utah licensed broker. -If a broker candidate, an Utah based trust account.

To document high moral character an applicant must provide which of the following? Select all that apply.

-Submit to a background check. -Provide a license history for any government issued professional license issued in another state. -Provide fingerprints.

Select two items from the following list that are required of an existing Utah sales agent in order to apply for an associate broker or broker license.

-Successfully passing the exam with 75% or better score. -Broker recommendation

Select all of the following items of documentation that are required of an existing Utah sales agent in order to apply for an associate broker or broker license.

-Three of last five years active -Complete 120 hours broker education

After completing the pre-license course, how many months do you have to apply for your real estate license?

12

For a broker candidate, what is the maximum number of experience points that can be documented from Table III?

15

4 agents work on a transaction, representing commercial office building sale which is worth 10 experience points. How many points will each agent earn toward a broker application?

2.5

An associate broker is:

supervised exactly as a regular sales agent is.

Can a non-resident of Utah receive and practice with a sales agent license?

Yes, if they obtain a license through the required process and place their license with an active Utah principal broker.

Which of the following statements is true about the time limits on the licensing process?

You must provide the Division of Real Estate a report that both portions of the exam have been passed within the past six month period.

If you apply for your license but do not include a brokerage with which to affiliate, which is true?

Your license will be issued in "inactive" status.

John lost a lawsuit based on an accusation of fraud. On the application for a sales agent license he must:

disclose the judgement even though it had been paid in full.

A broker license application must include 60 experience points documented, a passing score on the broker license exam, and:

education certifying document

An associate broker can do all of the following EXCEPT:

pay commisions

All sales agents and associate brokers must be licensed under a:

principal broker

An associate broker is eligible to become a:

principal broker

A sales agent represents their principal broker. An associate broker:

still represents the principal broker.