ARIZONA REAL ESTATE EXAM 2026
CERTIFICATION EVALUATION EXAMS FULL
QUESTION SET WITH SOLVED ANSWERS
◉ How many business days after a borrower submits a loan
application must the lender make the required disclosures?
A. 2 days
B. 3 days
C. 5 days
D. 10 days. Answer: 3 days
◉ The booklet "your home loan toolkit" is a requirement of
A. the Federal Reserve
B. Regulation Z
C. RESPA
D. the Fair Housing Act. Answer: RESPA
◉ Charging interest rates in excess of the state maximum allowed is
known as
A. excrow
B. defeasance
C. hypothecation
,D. usury. Answer: usury
◉ Regulation Z implements what federal lending law?
A. Dodd-Frank Wall Street Reform Act
B. Equal Credit Opportunity Act
C. Real Estate Settlement Procedures Act
D. Truth-In-Lending Act. Answer: Truth-In-Lending Act
◉ Which of the following requires lenders to inform borrowers,
when buying a home secured by a mortgage or trust deed, of all
finance charges, fees, and interest
A. HUD
B. FHA
C. Requlation Z
D. RESPA. Answer: Regulation Z
◉ Of these transactions, which would not fall under the provisions
of RESPA?
A. April is buying a condominium in a 20-unit building
B. Brad is buying a three-unit apartment building as an investment
C. Carla is buying a house she might turn into a bed and breakfast
D. Dick is buying an old bard to turn into a car was. Answer: Dick is
buying an old bard to turn into a car was
,◉ The Real Estate Settlement Procedures Act applies to all of the
following transactions EXCEPT
A. FHA-insured Loans
B. VA-guaranteed loans
C. conforming loans sold to Fannie Mae
D. commercial loans. Answer: commercial loans
◉ Who would not have the right to rescind a loan?
A. Glenn gets a home equity loan on his primary residence
B. Margaret refinances the mortgage she has on her house
C. Ned gets a home purchase loan and the lender does not provide
required disclosures
D. Penny makes a 40% down payment when she gets a loan to
purchase a house. Answer: Penny makes a 40% down payment
when she gets a loan to purchase a house
◉ What agency enforces the Truth-in-Lending Act?
A. Consumer Financial Protection Bureau
B. Department of Housing and Urban Development
C. Federal Housing Authority
D. Federal Reserve. Answer: Consumer Financial Protection Bureau
, ◉ What does the APR disclosures tell a borrower?
A. the annual interest rate the borrower pays on the loan
B. the loan-to-value based on the borrower's down payment
C. the total cost of the loan including fees and interest
D. the total amount of interest the borrower pays over the life of the
loan. Answer: the total cost of the loan including fees and interest
◉ How many days would a lender have to give the buyer a Loan
Estimate disclosure in a residential loan transaction?
A. 3 business days from purchase contract
B. 3 business days from close of escrow
C. 3 business days from loan application
D. 3 business days from approval. Answer: 3 business days from loan
application
◉ The main appeal of FHA loans to the borrower lies in
A. low interest rates
B. minimum down payment
C. unlimited mortgage ceiling
D. easy accessibility. Answer: minimum down payment
◉ The booklet "Your Home Loan Toolkit" is a requirement of
CERTIFICATION EVALUATION EXAMS FULL
QUESTION SET WITH SOLVED ANSWERS
◉ How many business days after a borrower submits a loan
application must the lender make the required disclosures?
A. 2 days
B. 3 days
C. 5 days
D. 10 days. Answer: 3 days
◉ The booklet "your home loan toolkit" is a requirement of
A. the Federal Reserve
B. Regulation Z
C. RESPA
D. the Fair Housing Act. Answer: RESPA
◉ Charging interest rates in excess of the state maximum allowed is
known as
A. excrow
B. defeasance
C. hypothecation
,D. usury. Answer: usury
◉ Regulation Z implements what federal lending law?
A. Dodd-Frank Wall Street Reform Act
B. Equal Credit Opportunity Act
C. Real Estate Settlement Procedures Act
D. Truth-In-Lending Act. Answer: Truth-In-Lending Act
◉ Which of the following requires lenders to inform borrowers,
when buying a home secured by a mortgage or trust deed, of all
finance charges, fees, and interest
A. HUD
B. FHA
C. Requlation Z
D. RESPA. Answer: Regulation Z
◉ Of these transactions, which would not fall under the provisions
of RESPA?
A. April is buying a condominium in a 20-unit building
B. Brad is buying a three-unit apartment building as an investment
C. Carla is buying a house she might turn into a bed and breakfast
D. Dick is buying an old bard to turn into a car was. Answer: Dick is
buying an old bard to turn into a car was
,◉ The Real Estate Settlement Procedures Act applies to all of the
following transactions EXCEPT
A. FHA-insured Loans
B. VA-guaranteed loans
C. conforming loans sold to Fannie Mae
D. commercial loans. Answer: commercial loans
◉ Who would not have the right to rescind a loan?
A. Glenn gets a home equity loan on his primary residence
B. Margaret refinances the mortgage she has on her house
C. Ned gets a home purchase loan and the lender does not provide
required disclosures
D. Penny makes a 40% down payment when she gets a loan to
purchase a house. Answer: Penny makes a 40% down payment
when she gets a loan to purchase a house
◉ What agency enforces the Truth-in-Lending Act?
A. Consumer Financial Protection Bureau
B. Department of Housing and Urban Development
C. Federal Housing Authority
D. Federal Reserve. Answer: Consumer Financial Protection Bureau
, ◉ What does the APR disclosures tell a borrower?
A. the annual interest rate the borrower pays on the loan
B. the loan-to-value based on the borrower's down payment
C. the total cost of the loan including fees and interest
D. the total amount of interest the borrower pays over the life of the
loan. Answer: the total cost of the loan including fees and interest
◉ How many days would a lender have to give the buyer a Loan
Estimate disclosure in a residential loan transaction?
A. 3 business days from purchase contract
B. 3 business days from close of escrow
C. 3 business days from loan application
D. 3 business days from approval. Answer: 3 business days from loan
application
◉ The main appeal of FHA loans to the borrower lies in
A. low interest rates
B. minimum down payment
C. unlimited mortgage ceiling
D. easy accessibility. Answer: minimum down payment
◉ The booklet "Your Home Loan Toolkit" is a requirement of
