AZ Real Estate Exam Final
A broking may additionally collect a commission from both customer and supplier if -
ANS-written approval is given earlier than execution of a settlement.
A broker can also represent both a customer and a seller in a real estate transaction and
acquire a commission from each, supplied that - ANS-the broker has acquired written
consent from buyer and supplier.
A brokerage rents area in a commercial region of city and employs a complete-time group of
workers of 30 people and 1,500 sales associates. The brokerage has a strictly enforced
policy that its buddies need to deal most effective in single-circle of relatives residential
transactions. Must this brokerage be worried with the provisions of the Americans With
Disabilities Act (ADA)? - ANS-Yes, due to the fact the ADA applies to all corporations,
regardless of what the nature of the enterprise is.
A customer and vendor input into a buy agreement, but the broker fails to initial the contract
inside the required 10 business days. What is the fame of the acquisition contract? -
ANS-Valid
A dwelling house exemption will guard a owner of a house against which kind of lien? -
ANS-Judgment lien
A lender can not get a deficiency judgment towards a property owner who defaults on a
mortgage this is secured by way of the number one residence if the primary residence is
situated on a parcel that is no larger than what? - ANS-2½ acres
A lender must discharge a deed of accept as true with lien and report a lien release inside
what number of days after the lien is satisfied? - ANS-60 days
A licensee owes a fiduciary obligation to the consumer and shall shield and promote -
ANS-the pursuits of the patron.
A lot reservation deposit for a single lot or parcel can't exceed - ANS-5000
A grasp deliberate community is - ANS-two or extra platted subdivisions with recorded
covenants, conditions, and restrictions (CC&Rs).
A mechanic's lien is which sort of lien? - ANS-Specific, statutory, involuntary
A belongings is listed for sale at $235,000. A customer's provide of $220,000 is rejected with
the aid of the vendor. Six months later, the seller reduces the rate to $225,000. Another
purchaser gives $210,000, and the vendor accepts because the seller has located some
other residence to buy and wishes to shut fast. The property is in the end appraised at
$215,000. Which of these figures MOST correctly represents the belongings's marketplace
cost? - ANS-$215,000
, A assets can be stigmatized if which of the following occurrences have ever came about at
the property? - ANS-Murder or suicide
A patron of a timeshare may additionally unilaterally cancel the purchase settlement inside -
ANS-10 days after the client signs the purchase settlement.
A shop clerk may also prepare files incidental to a belongings transaction most effective if -
ANS-the salesclerk's brokerage represents one or each of the parties inside the transaction.
A salesperson or dealer shall supply to every birthday party signing the file a legible copy of
any carried out transaction file - ANS-as quickly as sensible.
A subdivider who's featuring to sell plenty in a subdivision that is located in an energetic
groundwater control place must offer certification from the Arizona Department of Water
Resources that a _____ is to be had. - ANS-a hundred-yr water deliver
About how much of the land in Arizona is special as wetlands? - ANS-1%
ADEQ method the Arizona Department of - ANS-Environmental Quality.
ADWR way the Arizona Department of - ANS-Water Resources.
After receiving note of defects from a patron of a newly built domestic, how lengthy does the
builder need to reply to the attention of defects? - ANS-60 days
An Arizona landowner has moved a manufactured domestic onto his property and affixed the
house to the land. He has built a skirting, porch, and carport for the house. He has removed
all axles and wheels but has in no way recorded any record with the county to provide be
aware that the manufactured home has been affixed. Now he is selling his home and the
purchaser of the home is getting a mortgage. What document might be required to transfer
name of the synthetic home to the consumer? - ANS-Affidavit of affixture
An officer or worker of a government employer who is not a contract or brief employee of the
employer inside the behavior of the officer's or worker's legitimate duties can also do which
of the subsequent without a license? - ANS-Act as a broker or salesperson in representing
the government corporation
Arizona assets taxes are based on a percent of the - ANS-assessed cost of the belongings.
At the time the list agreement is signed, a vendor tells his agent that the roof leaks during
heavy rains; but they agree now not to inform searching for what you offer unless they ask.
Six months later, after the house is offered, the new client discovers the leak however
acknowledges she by no means asked in particular about the roof. What—if
any—alternatives are open to her as the consumer? - ANS-She might have grounds for a
lawsuit against both the listing agent and the seller.
A broking may additionally collect a commission from both customer and supplier if -
ANS-written approval is given earlier than execution of a settlement.
A broker can also represent both a customer and a seller in a real estate transaction and
acquire a commission from each, supplied that - ANS-the broker has acquired written
consent from buyer and supplier.
A brokerage rents area in a commercial region of city and employs a complete-time group of
workers of 30 people and 1,500 sales associates. The brokerage has a strictly enforced
policy that its buddies need to deal most effective in single-circle of relatives residential
transactions. Must this brokerage be worried with the provisions of the Americans With
Disabilities Act (ADA)? - ANS-Yes, due to the fact the ADA applies to all corporations,
regardless of what the nature of the enterprise is.
A customer and vendor input into a buy agreement, but the broker fails to initial the contract
inside the required 10 business days. What is the fame of the acquisition contract? -
ANS-Valid
A dwelling house exemption will guard a owner of a house against which kind of lien? -
ANS-Judgment lien
A lender can not get a deficiency judgment towards a property owner who defaults on a
mortgage this is secured by way of the number one residence if the primary residence is
situated on a parcel that is no larger than what? - ANS-2½ acres
A lender must discharge a deed of accept as true with lien and report a lien release inside
what number of days after the lien is satisfied? - ANS-60 days
A licensee owes a fiduciary obligation to the consumer and shall shield and promote -
ANS-the pursuits of the patron.
A lot reservation deposit for a single lot or parcel can't exceed - ANS-5000
A grasp deliberate community is - ANS-two or extra platted subdivisions with recorded
covenants, conditions, and restrictions (CC&Rs).
A mechanic's lien is which sort of lien? - ANS-Specific, statutory, involuntary
A belongings is listed for sale at $235,000. A customer's provide of $220,000 is rejected with
the aid of the vendor. Six months later, the seller reduces the rate to $225,000. Another
purchaser gives $210,000, and the vendor accepts because the seller has located some
other residence to buy and wishes to shut fast. The property is in the end appraised at
$215,000. Which of these figures MOST correctly represents the belongings's marketplace
cost? - ANS-$215,000
, A assets can be stigmatized if which of the following occurrences have ever came about at
the property? - ANS-Murder or suicide
A patron of a timeshare may additionally unilaterally cancel the purchase settlement inside -
ANS-10 days after the client signs the purchase settlement.
A shop clerk may also prepare files incidental to a belongings transaction most effective if -
ANS-the salesclerk's brokerage represents one or each of the parties inside the transaction.
A salesperson or dealer shall supply to every birthday party signing the file a legible copy of
any carried out transaction file - ANS-as quickly as sensible.
A subdivider who's featuring to sell plenty in a subdivision that is located in an energetic
groundwater control place must offer certification from the Arizona Department of Water
Resources that a _____ is to be had. - ANS-a hundred-yr water deliver
About how much of the land in Arizona is special as wetlands? - ANS-1%
ADEQ method the Arizona Department of - ANS-Environmental Quality.
ADWR way the Arizona Department of - ANS-Water Resources.
After receiving note of defects from a patron of a newly built domestic, how lengthy does the
builder need to reply to the attention of defects? - ANS-60 days
An Arizona landowner has moved a manufactured domestic onto his property and affixed the
house to the land. He has built a skirting, porch, and carport for the house. He has removed
all axles and wheels but has in no way recorded any record with the county to provide be
aware that the manufactured home has been affixed. Now he is selling his home and the
purchaser of the home is getting a mortgage. What document might be required to transfer
name of the synthetic home to the consumer? - ANS-Affidavit of affixture
An officer or worker of a government employer who is not a contract or brief employee of the
employer inside the behavior of the officer's or worker's legitimate duties can also do which
of the subsequent without a license? - ANS-Act as a broker or salesperson in representing
the government corporation
Arizona assets taxes are based on a percent of the - ANS-assessed cost of the belongings.
At the time the list agreement is signed, a vendor tells his agent that the roof leaks during
heavy rains; but they agree now not to inform searching for what you offer unless they ask.
Six months later, after the house is offered, the new client discovers the leak however
acknowledges she by no means asked in particular about the roof. What—if
any—alternatives are open to her as the consumer? - ANS-She might have grounds for a
lawsuit against both the listing agent and the seller.
