1|Page
AZ Real Estate Final 2026/2027 Exam (2 Latest Versions)
x ||Best Version!!!
VERSION A
A property management firm has ______ days after termination
of a property management agreement to provide a final list of
accounts receivable/payments. - ANSWER-75
Non-trust funds, as long as they're not commingled with trust
funds, are not bound by _______. - ANSWER-Real estate laws
______ are taxed at a taxpayer's marginal tax rate. - ANSWER-
Short-term capital gains
Arizona designated broker Rick is setting up a temporary branch
office for a few transactions taking place 50 miles from the main
brokerage office. Does Rick need to acquire a temporary branch
office license? - ANSWER-No. Temporary branch offices do not
require additional licensure like permanent ones do.
When is an affidavit of affixture used in Arizona? - ANSWER-
When an individual who owns both a manufactured home and
the land on which it sits wants to change the status of the
manufactured home from personal to real property
,2|Page
Arizona licensees owe both common law fiduciary and _____
duties to their clients. - ANSWER-Statutory
Using the capitalization formula, what is the value if the net
operating income is $20,000 and the rate of capitalization is
10%? - ANSWER-$200,000
Through which method of voluntary alienation does the grantor
convey real property and transfer title to the grantee? -
ANSWER-Deed
Which of the following is a possible title issue with a real estate-
owned transaction? - ANSWER-Internal audit delays
Arizona landlord Roberto sent his former tenant, Brenda, an
itemized list of the deductions he's taken from her security
deposit, along with a check for the remaining deposit that's due
to her. How long does Brenda have to dispute this list or the
moneys taken from the security deposit before the list and
amount due are considered valid and final? - ANSWER-60 days
,3|Page
What's the term for an extended period of time during which
banks experience more withdrawals than deposits? - ANSWER-
Disintermediation
Can police power ever be used in a way that restricts citizens'
freedom? - ANSWER-Yes, if it's for the public good.
Janice works for a homeowners association in Mesa, and a
property owner in the association asks for her help with
managing his home as a rental property. Does Janice need a
license to help the owner? - ANSWER-Yes, because she's
performing property management for an individual owner.
Jonathan hasn't paid his property taxes in more than a year. He
wants to sell his property and try to move to a smaller home.
What can he do in these circumstances? - ANSWER-He can pay
the lien; otherwise, he can't sell the property.
To what type of estate does pur autre vie apply? - ANSWER-
Freehold estate
Which banking-related entity shares similarities with the
purpose and function of the NCUA? - ANSWER-FDIC
, 4|Page
Which one of the following actions is a licensee required to take
to fulfill a fiduciary duty? - ANSWER-Disclose personal interest
and licensed status when buying property for personal use.
Jarod has a heap of financial trouble. His credit card debt is
piling up, he owes child support, and he's defaulted on his
mortgage loan. His lender starts foreclosure proceedings. Which
of these choices would stop the foreclosure and possibly allow
Jarod to keep his home? - ANSWER-Bankruptcy
What's true of chlorofluorocarbons (CFCs)? - ANSWER-They are
nontoxic.
Which of the following scenarios describes an example of
unilateral rescission? - ANSWER-Bobby, the buyer, makes an
offer on a house that doesn't meet the appraisal contingency.
He cancels the sale.
James, a seller, signed a listing agreement that allowed him to
contract with multiple agents but only pay a commission to the
agent who located a buyer. This type of listing agreement is
called ______. - ANSWER-Open
AZ Real Estate Final 2026/2027 Exam (2 Latest Versions)
x ||Best Version!!!
VERSION A
A property management firm has ______ days after termination
of a property management agreement to provide a final list of
accounts receivable/payments. - ANSWER-75
Non-trust funds, as long as they're not commingled with trust
funds, are not bound by _______. - ANSWER-Real estate laws
______ are taxed at a taxpayer's marginal tax rate. - ANSWER-
Short-term capital gains
Arizona designated broker Rick is setting up a temporary branch
office for a few transactions taking place 50 miles from the main
brokerage office. Does Rick need to acquire a temporary branch
office license? - ANSWER-No. Temporary branch offices do not
require additional licensure like permanent ones do.
When is an affidavit of affixture used in Arizona? - ANSWER-
When an individual who owns both a manufactured home and
the land on which it sits wants to change the status of the
manufactured home from personal to real property
,2|Page
Arizona licensees owe both common law fiduciary and _____
duties to their clients. - ANSWER-Statutory
Using the capitalization formula, what is the value if the net
operating income is $20,000 and the rate of capitalization is
10%? - ANSWER-$200,000
Through which method of voluntary alienation does the grantor
convey real property and transfer title to the grantee? -
ANSWER-Deed
Which of the following is a possible title issue with a real estate-
owned transaction? - ANSWER-Internal audit delays
Arizona landlord Roberto sent his former tenant, Brenda, an
itemized list of the deductions he's taken from her security
deposit, along with a check for the remaining deposit that's due
to her. How long does Brenda have to dispute this list or the
moneys taken from the security deposit before the list and
amount due are considered valid and final? - ANSWER-60 days
,3|Page
What's the term for an extended period of time during which
banks experience more withdrawals than deposits? - ANSWER-
Disintermediation
Can police power ever be used in a way that restricts citizens'
freedom? - ANSWER-Yes, if it's for the public good.
Janice works for a homeowners association in Mesa, and a
property owner in the association asks for her help with
managing his home as a rental property. Does Janice need a
license to help the owner? - ANSWER-Yes, because she's
performing property management for an individual owner.
Jonathan hasn't paid his property taxes in more than a year. He
wants to sell his property and try to move to a smaller home.
What can he do in these circumstances? - ANSWER-He can pay
the lien; otherwise, he can't sell the property.
To what type of estate does pur autre vie apply? - ANSWER-
Freehold estate
Which banking-related entity shares similarities with the
purpose and function of the NCUA? - ANSWER-FDIC
, 4|Page
Which one of the following actions is a licensee required to take
to fulfill a fiduciary duty? - ANSWER-Disclose personal interest
and licensed status when buying property for personal use.
Jarod has a heap of financial trouble. His credit card debt is
piling up, he owes child support, and he's defaulted on his
mortgage loan. His lender starts foreclosure proceedings. Which
of these choices would stop the foreclosure and possibly allow
Jarod to keep his home? - ANSWER-Bankruptcy
What's true of chlorofluorocarbons (CFCs)? - ANSWER-They are
nontoxic.
Which of the following scenarios describes an example of
unilateral rescission? - ANSWER-Bobby, the buyer, makes an
offer on a house that doesn't meet the appraisal contingency.
He cancels the sale.
James, a seller, signed a listing agreement that allowed him to
contract with multiple agents but only pay a commission to the
agent who located a buyer. This type of listing agreement is
called ______. - ANSWER-Open
