ARIZONA REAL ESTATE LICENSING LAW
AND PROPERTY REGULATIONS TEST PAPER
2026
◉ What action takes place when a buyer defaults on a deed of trust?
Answer: Notice of sale is sent to the owner/trustor from the Trustee
◉ What percentage would a owner-occupied residential house be
assessed at?
Answer: 10%
◉ In a property tax foreclosure a homeowner has:
Answer: a three year right of redemption
◉ How many hours of education are required to renew a real estate
sales person's license?
Answer: 24 Hours
◉ How many hours of education are required for a real estate
broker's license when the broker is the designated broker or an
associated broker with delegated authority?
,Answer: 30 hours
◉ How many hours of education are required for a real estate
associate broker's license?
Answer: 24 hours
◉ What gives real estate licensees the right to prepare all documents
in a real estate transaction?
Answer: Arizona Constitution Article XXVI
◉ In order to be enforceable according to Arizona Revised Statutes,
all listings must:
Answer: Be in writing
◉ What is the minimum amount that must be in the Real Estate
Recovery Fund as of June 30th of each year to avoid additional fees
to licensees?
Answer: $600,000
◉ Property taxes become a lien the first day of:
Answer: January
◉ What must a buyer of subdivided land receive?
,Answer: A Public Report
◉ When a listing agent cannot be reached within 24 hours, what
must the selling agent get?
Answer: Must get written permission from the seller before present
the offer to the seller.
◉ How are Real Estate commissions established in Arizona?
Answer: Negotiation only
◉ What is the maximum paid from the recovery fund in a single
transaction?
Answer: $30,000
◉ The right to use water adjacent to a stream is called:
Answer: Riparian Right
◉ Arizona Property Taxes are figured based on:
Answer: Ad Valorem
◉ When a licensee leaves a brokerage, where does the license go?
Answer: Back to the State
, ◉ Where must their active salesperson have their licensed placed?
Answer: In their broker's office
◉ How long must the seller wait before they can take a property
back if a buyer defaults on an Agreement for sale with less than 20%
Equity?
Answer: 30 days
◉ When must a mechanic's lien be filed?
Answer: 120 days of the completion of work by the subcontractor or
general contractor
◉ What is the tax lien priority?
Answer: Property Taxes
Special Assessment Tax
IRS Taxes
◉ If a property tax is not bid on at a tax lien sale who can later buy
the tax lien from the Treasure?
Answer: Anyone
◉ What type of property would have the highest tax rate?
AND PROPERTY REGULATIONS TEST PAPER
2026
◉ What action takes place when a buyer defaults on a deed of trust?
Answer: Notice of sale is sent to the owner/trustor from the Trustee
◉ What percentage would a owner-occupied residential house be
assessed at?
Answer: 10%
◉ In a property tax foreclosure a homeowner has:
Answer: a three year right of redemption
◉ How many hours of education are required to renew a real estate
sales person's license?
Answer: 24 Hours
◉ How many hours of education are required for a real estate
broker's license when the broker is the designated broker or an
associated broker with delegated authority?
,Answer: 30 hours
◉ How many hours of education are required for a real estate
associate broker's license?
Answer: 24 hours
◉ What gives real estate licensees the right to prepare all documents
in a real estate transaction?
Answer: Arizona Constitution Article XXVI
◉ In order to be enforceable according to Arizona Revised Statutes,
all listings must:
Answer: Be in writing
◉ What is the minimum amount that must be in the Real Estate
Recovery Fund as of June 30th of each year to avoid additional fees
to licensees?
Answer: $600,000
◉ Property taxes become a lien the first day of:
Answer: January
◉ What must a buyer of subdivided land receive?
,Answer: A Public Report
◉ When a listing agent cannot be reached within 24 hours, what
must the selling agent get?
Answer: Must get written permission from the seller before present
the offer to the seller.
◉ How are Real Estate commissions established in Arizona?
Answer: Negotiation only
◉ What is the maximum paid from the recovery fund in a single
transaction?
Answer: $30,000
◉ The right to use water adjacent to a stream is called:
Answer: Riparian Right
◉ Arizona Property Taxes are figured based on:
Answer: Ad Valorem
◉ When a licensee leaves a brokerage, where does the license go?
Answer: Back to the State
, ◉ Where must their active salesperson have their licensed placed?
Answer: In their broker's office
◉ How long must the seller wait before they can take a property
back if a buyer defaults on an Agreement for sale with less than 20%
Equity?
Answer: 30 days
◉ When must a mechanic's lien be filed?
Answer: 120 days of the completion of work by the subcontractor or
general contractor
◉ What is the tax lien priority?
Answer: Property Taxes
Special Assessment Tax
IRS Taxes
◉ If a property tax is not bid on at a tax lien sale who can later buy
the tax lien from the Treasure?
Answer: Anyone
◉ What type of property would have the highest tax rate?
