Pearson Vue Real Estate Licensing
Utah Exam Questions & Answers
(Grade A+)
How many employees do you have to have to be required to have
handicapped accommodations? -
correct answer ✅15 or more (ADA - Americans with Disabilities Act
of 1990)
Blockbusting -
correct answer ✅A process by which real estate agents convince
property owners to sell their houses at low prices because of fear of
something happening in the neighborhood.
Steering -
correct answer ✅Channeling prospective buyers or tenants to
particular neighborhoods based upon their race, religion, national
origin, or ancestry.
Redlining -
correct answer ✅A process by which banks draw lines on a map
and refuse to lend money to purchase or improve property within
the boundaries.
,Pearson Vue Real Estate Licensing
Utah Exam Questions & Answers
(Grade A+)
Unilateral -
correct answer ✅one-sided (Only one side of the party is bound by
the contract) Example: Option Contract
Bilateral -
correct answer ✅both parties are bound by the contract. Example:
REPC (Real Estate Purchase Contract)
Corporation -
correct answer ✅A legal entity or legal person created under state
law. (Corporation means the same thing as a legal person. An
individual or you means the same thing as a natural person.)
An agent enters into a listing agreement with a Seller, whereupon
the Sellers inform the agent that the garage roof leaks slightly in
one corner, and request the agent not reveal this to any potential
Buyer. The agent is required to: -
correct answer ✅Advise the Sellers that it must be disclosed to the
prospective Buyers.
Truth-in-Lending (TILA) -
correct answer ✅is a federal law that is part of the consumer
,Pearson Vue Real Estate Licensing
Utah Exam Questions & Answers
(Grade A+)
credit protection act, and implemented by the Federal Reserve
Board's Regulation Z. The act ensures that borrowers and
customers of consumer credit are given information regarding the
cost of credit (namely APR, loan amount and terms etc.) so that
consumers can compare credit terms available.
Real Estate Settlement Procedures Act (RESPA) -
correct answer ✅The federal law that requires certain disclosures
to consumers about mortgage loan settlements. The law also
prohibits the payment or receipt of kickbacks and certain kinds of
referral fees.
TILA-RESPA Integrated Disclosure Rule (TRID) -
correct answer ✅Know before you owe rule. Easier disclosure
forms. Gives consumer time to ask questions about mortgage and
also provides insight into what they're getting into so that they're
properly educated on taking on a new mortgage.
Encroachment -
correct answer ✅Any unauthorized intrusion onto a neighboring
property whether under or above the ground. An example would
, Pearson Vue Real Estate Licensing
Utah Exam Questions & Answers
(Grade A+)
be a garage that extends over the property line onto the neighbor's
property.
Income Approach -
correct answer ✅The process of estimating the value of an
income-producing property through capitalization of the annual net
income expected to be produced by the property during its
remaining useful life. (Example would be an office building.)
Bill of Sale -
correct answer ✅A document used to transfer ownership of
personal property. (Example would be to see a snow blower as
apart of the transaction.)
Escheat -
correct answer ✅The state takes property upon an owners death if
there is no will & no heirs exist.
Easement -
correct answer ✅A limited right to make use of a property owned
by another. (Example: a utility company's right of way)
Utah Exam Questions & Answers
(Grade A+)
How many employees do you have to have to be required to have
handicapped accommodations? -
correct answer ✅15 or more (ADA - Americans with Disabilities Act
of 1990)
Blockbusting -
correct answer ✅A process by which real estate agents convince
property owners to sell their houses at low prices because of fear of
something happening in the neighborhood.
Steering -
correct answer ✅Channeling prospective buyers or tenants to
particular neighborhoods based upon their race, religion, national
origin, or ancestry.
Redlining -
correct answer ✅A process by which banks draw lines on a map
and refuse to lend money to purchase or improve property within
the boundaries.
,Pearson Vue Real Estate Licensing
Utah Exam Questions & Answers
(Grade A+)
Unilateral -
correct answer ✅one-sided (Only one side of the party is bound by
the contract) Example: Option Contract
Bilateral -
correct answer ✅both parties are bound by the contract. Example:
REPC (Real Estate Purchase Contract)
Corporation -
correct answer ✅A legal entity or legal person created under state
law. (Corporation means the same thing as a legal person. An
individual or you means the same thing as a natural person.)
An agent enters into a listing agreement with a Seller, whereupon
the Sellers inform the agent that the garage roof leaks slightly in
one corner, and request the agent not reveal this to any potential
Buyer. The agent is required to: -
correct answer ✅Advise the Sellers that it must be disclosed to the
prospective Buyers.
Truth-in-Lending (TILA) -
correct answer ✅is a federal law that is part of the consumer
,Pearson Vue Real Estate Licensing
Utah Exam Questions & Answers
(Grade A+)
credit protection act, and implemented by the Federal Reserve
Board's Regulation Z. The act ensures that borrowers and
customers of consumer credit are given information regarding the
cost of credit (namely APR, loan amount and terms etc.) so that
consumers can compare credit terms available.
Real Estate Settlement Procedures Act (RESPA) -
correct answer ✅The federal law that requires certain disclosures
to consumers about mortgage loan settlements. The law also
prohibits the payment or receipt of kickbacks and certain kinds of
referral fees.
TILA-RESPA Integrated Disclosure Rule (TRID) -
correct answer ✅Know before you owe rule. Easier disclosure
forms. Gives consumer time to ask questions about mortgage and
also provides insight into what they're getting into so that they're
properly educated on taking on a new mortgage.
Encroachment -
correct answer ✅Any unauthorized intrusion onto a neighboring
property whether under or above the ground. An example would
, Pearson Vue Real Estate Licensing
Utah Exam Questions & Answers
(Grade A+)
be a garage that extends over the property line onto the neighbor's
property.
Income Approach -
correct answer ✅The process of estimating the value of an
income-producing property through capitalization of the annual net
income expected to be produced by the property during its
remaining useful life. (Example would be an office building.)
Bill of Sale -
correct answer ✅A document used to transfer ownership of
personal property. (Example would be to see a snow blower as
apart of the transaction.)
Escheat -
correct answer ✅The state takes property upon an owners death if
there is no will & no heirs exist.
Easement -
correct answer ✅A limited right to make use of a property owned
by another. (Example: a utility company's right of way)
