Free Utah Real Estate Broker Exam Practice Test

Sample Utah Broker practice questions

Try a few representative questions below. Each includes the correct answer and a short explanation — the same style you'll see in the full practice test.

1. Question 1Agency Relationships

   A Utah real estate broker is representing both the buyer and the seller in a transaction. This is known as dual agency. Under Utah law, what is the broker's primary fiduciary duty to both parties in this situation?

   • A.To act solely as a neutral facilitator, without any fiduciary duties beyond ensuring legal compliance.
   • B.To advocate for the best interests of the buyer, as the buyer is typically the party with less information.
   • C.To disclose all material facts known to the broker to each party, while maintaining confidentiality of information that would weaken the bargaining position of the other party.(Correct)
   • D.To advocate for the best interests of the seller, as the seller is typically the party who has hired the broker.

   Explanation

   In dual agency, a broker's primary duty is to disclose all material facts to both parties. However, they must also maintain confidentiality of sensitive information that could disadvantage the other party, balancing disclosure with loyalty.

2. Question 2Trust Accounts and Earnest Money

   A buyer makes an offer on a property listed by another brokerage. The seller accepts the offer, and the earnest money deposit is placed in the listing broker's trust account. The transaction is scheduled to close in 45 days. If the buyer defaults on the contract, what is the listing broker's responsibility regarding the earnest money deposit?

   • A.The broker must hold the earnest money until the seller provides written instructions or a court order dictates its disposition.(Correct)
   • B.The broker must return the earnest money to the buyer, as it was a deposit and not a forfeiture.
   • C.The broker must immediately disburse the earnest money to the seller, as the seller is the injured party.
   • D.The broker must seek legal counsel and file an interpleader action to have a court determine who receives the earnest money.

   Explanation

   In cases of default, the broker cannot unilaterally disburse earnest money. They must hold it until receiving mutual written instructions from both buyer and seller, or until a court order resolves the dispute. This protects all parties involved.

3. Question 3Comparative Market Analysis (CMA)

   A Utah real estate licensee is preparing a Comparative Market Analysis (CMA) for a seller. The subject property is a 3-bedroom, 2-bathroom single-family home. Which of the following adjustments, if any, would typically be made to the sales prices of comparable properties to arrive at an indicated value for the subject property?

   • A.Add to the comparable's price if it has a less desirable location than the subject property.
   • B.Subtract from the comparable's price if it has a newer roof than the subject property.
   • C.Add to the comparable's price if it has fewer bedrooms than the subject property.(Correct)
   • D.Subtract from the comparable's price if it has a larger lot size than the subject property.

   Explanation

   When performing a CMA, adjustments are made to the comparable properties to make them more similar to the subject property. If a comparable has fewer bedrooms, you would add to its sales price to reflect the value of the additional bedroom in the subject property.

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