Agency and License Law Practice Question
Question
A salesperson notices a possible compliance problem for the Utah Real Estate Sales Agent Exam involving accounting and Utah Division of Real Estate. Which statement is the best answer? (Item 61)
Answer choices
- A. Properly handle and account for money, documents, and property entrusted to the licensee in a way that fits Utah exam practice.
- B. The party who complains first automatically receives the remedy requested.
- C. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
- D. The client’s preference eliminates the need to disclose known material facts.
Correct Answer
A. Properly handle and account for money, documents, and property entrusted to the licensee in a way that fits Utah exam practice.
Explanation
The correct answer is A because accounting requires candidates to properly handle and account for money, documents, and property entrusted to the licensee. The Utah reference keeps the scenario tied to state licensing practice, while the other options rely on unsafe assumptions about oral custom, escrow, client preference, independent licensee authority, or ignoring written duties.
Question details
- Difficulty: easy
- Domain: Agency and License Law
- Objective: accounting