Arizona Statutes and Rules Examination
(SRE) Exam Practice Questions and Correct
Answers Updated
Question 1: According to Arizona statutes governing real estate licensees,
what is the maximum period a temporary real estate broker’s license may be
issued to the spouse or next of kin of a deceased broker?
A. 30 days
B. 90 days
C. 15 months
D. 24 months
CORRECT ANSWER: C. 15 months
Rationale: Arizona law allows the Department of Real Estate to issue a temporary
broker’s license to the surviving spouse or next of kin of a deceased broker for a
period not to exceed 15 months to allow orderly continuation or winding down of
the brokerage business.
Question 2: Under Arizona real estate statutes, how many members serve on
the Real Estate Advisory Board?
A. Five
B. Seven
C. Nine
D. Eleven
CORRECT ANSWER: C. Nine
Rationale: The Arizona Real Estate Advisory Board consists of nine members
appointed by the Governor to advise the Commissioner on matters related to the
real estate industry and licensing.
Question 3: A real estate salesperson in Arizona must complete how many
hours of continuing education during each two-year license renewal period?
A. 12 hours
B. 18 hours
C. 24 hours
D. 30 hours
CORRECT ANSWER: C. 24 hours
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,Rationale: Arizona requires active real estate licensees to complete 24 hours of
approved continuing education during each two-year renewal cycle, including
specific mandatory topics.
Question 4: According to Arizona statutes, a real estate broker must maintain
transaction records for a minimum of how many years from the date of closing
or termination of the transaction?
A. Three years
B. Five years
C. Seven years
D. Ten years
CORRECT ANSWER: B. Five years
Rationale: Arizona law requires brokers to retain all real estate transaction records
for a period of five years from the date of closing, cancellation, or other termination
of the transaction.
Question 5: Under Arizona real estate rules, which of the following is required
to be included in all real estate advertising by a licensee?
A. The licensee’s home address
B. The name of the employing broker as licensed
C. The licensee’s Social Security number
D. The seller’s private telephone number
CORRECT ANSWER: B. The name of the employing broker as licensed
Rationale: Arizona statutes and rules mandate that all advertising by a real estate
licensee must clearly and conspicuously include the name of the employing broker
as it appears on the broker’s license.
Question 6: A property management agreement in Arizona must be in writing
and include which of the following elements?
A. The amount of the security deposit only
B. The terms and conditions under which the agreement may be terminated
C. A guarantee of a specific occupancy rate
D. The personal financial statements of the property owner
CORRECT ANSWER: B. The terms and conditions under which the agreement
may be terminated
Rationale: Arizona law requires property management agreements to be in writing
and to include specific provisions, including the conditions and terms under which
the agreement may be terminated by either party.
Question 7: According to Arizona statutes, a real estate salesperson may
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,receive compensation only from which of the following?
A. The seller directly
B. The buyer directly
C. The salesperson’s employing broker
D. Any licensed broker in the state
CORRECT ANSWER: C. The salesperson’s employing broker
Rationale: Arizona law prohibits a salesperson from accepting compensation from
anyone other than the broker with whom the salesperson is employed at the time
the service was performed.
Question 8: Under Arizona real estate statutes, what is the minimum age
requirement to obtain a real estate salesperson’s license?
A. 18 years
B. 19 years
C. 21 years
D. 25 years
CORRECT ANSWER: A. 18 years
Rationale: An applicant for a real estate salesperson’s license in Arizona must be at
least 18 years of age at the time of application.
Question 9: A trust account maintained by an Arizona real estate broker must
be reconciled how frequently?
A. Daily
B. Weekly
C. Monthly
D. Quarterly
CORRECT ANSWER: C. Monthly
Rationale: Arizona rules require that real estate brokers reconcile their trust
accounts on a monthly basis and retain reconciliation records for the required
retention period.
Question 10: According to Arizona statutes, which of the following actions by
a real estate licensee constitutes grounds for disciplinary action?
A. Providing a comparative market analysis
B. Guaranteeing a future profit from the resale of property
C. Disclosing material facts about a property
D. Advising a client to seek legal counsel
CORRECT ANSWER: B. Guaranteeing a future profit from the resale of property
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, Rationale: Arizona law expressly prohibits licensees from guaranteeing, warranting,
or predicting future profits from the resale of real property, as such statements are
considered misleading.
Question 11: Under Arizona real estate rules, a branch office must be under
the direction of which of the following?
A. Any licensed salesperson
B. A licensed broker
C. An unlicensed office manager
D. The designated broker only
CORRECT ANSWER: B. A licensed broker
Rationale: Arizona statutes require that each branch office of a real estate brokerage
be under the management of a licensed real estate broker.
Question 12: How many hours of pre-license education are required for an
Arizona real estate salesperson applicant?
A. 60 hours
B. 90 hours
C. 120 hours
D. 180 hours
CORRECT ANSWER: B. 90 hours
Rationale: Arizona requires completion of 90 hours of approved pre-license
education for salesperson applicants before they may sit for the licensing
examination.
Question 13: According to Arizona statutes, a real estate license that has
expired may be reinstated without re-examination if renewed within what
maximum period?
A. 30 days
B. 6 months
C. 1 year
D. 2 years
CORRECT ANSWER: C. 1 year
Rationale: An expired Arizona real estate license may be reinstated without re-
examination if the renewal application, fees, and continuing education requirements
are satisfied within one year of expiration.
Question 14: Under Arizona property management statutes, security deposits
must be deposited into a trust account within how many banking days of
receipt?
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(SRE) Exam Practice Questions and Correct
Answers Updated
Question 1: According to Arizona statutes governing real estate licensees,
what is the maximum period a temporary real estate broker’s license may be
issued to the spouse or next of kin of a deceased broker?
A. 30 days
B. 90 days
C. 15 months
D. 24 months
CORRECT ANSWER: C. 15 months
Rationale: Arizona law allows the Department of Real Estate to issue a temporary
broker’s license to the surviving spouse or next of kin of a deceased broker for a
period not to exceed 15 months to allow orderly continuation or winding down of
the brokerage business.
Question 2: Under Arizona real estate statutes, how many members serve on
the Real Estate Advisory Board?
A. Five
B. Seven
C. Nine
D. Eleven
CORRECT ANSWER: C. Nine
Rationale: The Arizona Real Estate Advisory Board consists of nine members
appointed by the Governor to advise the Commissioner on matters related to the
real estate industry and licensing.
Question 3: A real estate salesperson in Arizona must complete how many
hours of continuing education during each two-year license renewal period?
A. 12 hours
B. 18 hours
C. 24 hours
D. 30 hours
CORRECT ANSWER: C. 24 hours
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,Rationale: Arizona requires active real estate licensees to complete 24 hours of
approved continuing education during each two-year renewal cycle, including
specific mandatory topics.
Question 4: According to Arizona statutes, a real estate broker must maintain
transaction records for a minimum of how many years from the date of closing
or termination of the transaction?
A. Three years
B. Five years
C. Seven years
D. Ten years
CORRECT ANSWER: B. Five years
Rationale: Arizona law requires brokers to retain all real estate transaction records
for a period of five years from the date of closing, cancellation, or other termination
of the transaction.
Question 5: Under Arizona real estate rules, which of the following is required
to be included in all real estate advertising by a licensee?
A. The licensee’s home address
B. The name of the employing broker as licensed
C. The licensee’s Social Security number
D. The seller’s private telephone number
CORRECT ANSWER: B. The name of the employing broker as licensed
Rationale: Arizona statutes and rules mandate that all advertising by a real estate
licensee must clearly and conspicuously include the name of the employing broker
as it appears on the broker’s license.
Question 6: A property management agreement in Arizona must be in writing
and include which of the following elements?
A. The amount of the security deposit only
B. The terms and conditions under which the agreement may be terminated
C. A guarantee of a specific occupancy rate
D. The personal financial statements of the property owner
CORRECT ANSWER: B. The terms and conditions under which the agreement
may be terminated
Rationale: Arizona law requires property management agreements to be in writing
and to include specific provisions, including the conditions and terms under which
the agreement may be terminated by either party.
Question 7: According to Arizona statutes, a real estate salesperson may
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,receive compensation only from which of the following?
A. The seller directly
B. The buyer directly
C. The salesperson’s employing broker
D. Any licensed broker in the state
CORRECT ANSWER: C. The salesperson’s employing broker
Rationale: Arizona law prohibits a salesperson from accepting compensation from
anyone other than the broker with whom the salesperson is employed at the time
the service was performed.
Question 8: Under Arizona real estate statutes, what is the minimum age
requirement to obtain a real estate salesperson’s license?
A. 18 years
B. 19 years
C. 21 years
D. 25 years
CORRECT ANSWER: A. 18 years
Rationale: An applicant for a real estate salesperson’s license in Arizona must be at
least 18 years of age at the time of application.
Question 9: A trust account maintained by an Arizona real estate broker must
be reconciled how frequently?
A. Daily
B. Weekly
C. Monthly
D. Quarterly
CORRECT ANSWER: C. Monthly
Rationale: Arizona rules require that real estate brokers reconcile their trust
accounts on a monthly basis and retain reconciliation records for the required
retention period.
Question 10: According to Arizona statutes, which of the following actions by
a real estate licensee constitutes grounds for disciplinary action?
A. Providing a comparative market analysis
B. Guaranteeing a future profit from the resale of property
C. Disclosing material facts about a property
D. Advising a client to seek legal counsel
CORRECT ANSWER: B. Guaranteeing a future profit from the resale of property
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, Rationale: Arizona law expressly prohibits licensees from guaranteeing, warranting,
or predicting future profits from the resale of real property, as such statements are
considered misleading.
Question 11: Under Arizona real estate rules, a branch office must be under
the direction of which of the following?
A. Any licensed salesperson
B. A licensed broker
C. An unlicensed office manager
D. The designated broker only
CORRECT ANSWER: B. A licensed broker
Rationale: Arizona statutes require that each branch office of a real estate brokerage
be under the management of a licensed real estate broker.
Question 12: How many hours of pre-license education are required for an
Arizona real estate salesperson applicant?
A. 60 hours
B. 90 hours
C. 120 hours
D. 180 hours
CORRECT ANSWER: B. 90 hours
Rationale: Arizona requires completion of 90 hours of approved pre-license
education for salesperson applicants before they may sit for the licensing
examination.
Question 13: According to Arizona statutes, a real estate license that has
expired may be reinstated without re-examination if renewed within what
maximum period?
A. 30 days
B. 6 months
C. 1 year
D. 2 years
CORRECT ANSWER: C. 1 year
Rationale: An expired Arizona real estate license may be reinstated without re-
examination if the renewal application, fees, and continuing education requirements
are satisfied within one year of expiration.
Question 14: Under Arizona property management statutes, security deposits
must be deposited into a trust account within how many banking days of
receipt?
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