ARIZONA REAL ESTATE PRACTICE TEST
2026/2027 NEWEST STUDY QUESTIONS
WITH VERIFIED CORRECT SOLUTIONS
100% ASSURED PASS | RATED A+
,ARIZONA REAL ESTATE PRACTICE TEST 2026/2027
NEWEST STUDY QUESTIONS WITH VERIFIED CORRECT
SOLUTIONS 100% ASSURED PASS | RATED A+
A rental property has 6 rental units that rent for $700 each per month. Similar property in the
area has been selling for $700,000. What would be the gross rent multiplier for this type of
property? - Answer>>> 13.8
At a weekly business meeting, two agents from two different firms discover that they are both
trying to list the same house. In the argument that follows, one agent scolds the other for offering
to take the listing at 6%. Their broker's policy is to take 7% listings. Which law, if any, have the
agents violated? - Answer>>> The Sherman Antitrust law
A listing agent is given confidential information by the seller. The listing agent then gives this
information to the selling agent. Which best describes this activity? - Answer>>> It is a breach
of fiduciary duties
The seller tells the broker they would like to sell their property furnished. The agent should do all
of the following EXCEPT: - Answer>>> Add the personal property to the deed
The purchaser of a property inside a community facilities district would like to know more
information about the community facilities district. Which of the following would most closely
describe a CFD? - Answer>>> Operate, maintain and repair public infrastructure
In a purchase, the sale price is $227,500. The buyer puts $34,125 down and can get a 70% loan
from the bank. What is the amount of the balance of the down payment needed from the buyer,
excluding closing cost? - Answer>>> $227,500 x 70% = $159,250
$227,500 -$159,250=$68,250
$68,250-$34,125 =
(34,125 needed to close)
A home sold property for $162,150, which is 15% more than he paid for it. How much did he
pay for it? - Answer>>> 100%+15%=115%
,$162,150 divide by 115%=
($141,000 original purchase price)
In Arizona, the seller must file with the County Assessor, at the close of escrow, an "affidavit of
value" disclosing the sales price of the real property which is the subject of the transaction. The
purpose of this affidavit is to assist the County Assessor in determining: - Answer>>> The
market value of the property
A real estate broker, in the typical agency relationship with a seller, is a/an: - Answer>>> Special
agent
The principle of ________ affirms that value is created by expected benefits to be derived in the
future. Which of the following is the correct insertion? - Answer>>> Anticipation
When the appraiser looks at the home Sandy has just purchased, he notices it has a fireplace and
the comparable homes do not. He makes a $3,000 upward adjustment on his sales comparison
approach worksheet. The $3,000 adjustment is based on what appraisal principle? - Answer>>>
Contribution
A lender is limited in the amount of reserves they may hold in a residential real estate
transaction. This is governed by: - Answer>>> RESPA
What is taken into consideration when calculating the effective gross income? - Answer>>>
vacancy and loss of credit
A listing agent intentionally fails to tell the buyer of a known defect on the property that later
harms the buyer. The listing agent could be guilty of: - Answer>>> fraud
Which of the following listings would not be entered into a multiple listing service? -
Answer>>> pocket listing
What regulation requires the lender to show the true interest rate? - Answer>>> Reg. Z
The effective rate of interest is best described as: - Answer>>> Annual percentage rate
The VA funding fee would change based on: - Answer>>> Loan to Value
, Broker lists property for $180,000. The ad reads $10,000 down and 8% interest. This ad would
violate: - Answer>>> Reg. Z
What document lets a buyer and seller see the costs involved with closing the transaction? -
Answer>>> HUD-1 statement
A title company is employed by a lender to collect payments on a deed of trust, what is the title
company called? - Answer>>> Servicing agent
Permanent finance payments would include which of the following? - Answer>>> Principal and
interest
What statement in an advertisement requires a full explanation? - Answer>>> Only $5,000 down
What law requires lenders to limit the amount of funds that can be held in reserves? -
Answer>>> RESPA
The mortgagor is: - Answer>>> The borrower
What is not an encumbrance? - Answer>>> Warranty deed
Real estate loan usury rates are set by: - Answer>>> State laws
Prorated taxes would be shown on the settlement statement as a: - Answer>>> Credit to buyer,
debit to seller
A residential tenant with a month-to-month lease enjoys which leasehold estate? - Answer>>>
Periodic tenancy
In real estate terms, an estate for years also may be called: - Answer>>> A leasehold
Which of the following is not essential to a valid contract? - Answer>>> monetary consideration
Which of the following cannot be a trustee? - Answer>>> C.P.A.
An Arizona real estate licensee may not charge for document preparation according to: -
Answer>>> Arizona Constitution Article XXVI
Which of the following requires probate? - Answer>>> Tenancy in common
What would NOT apply to an easement appurtenant? - Answer>>> Prescription
2026/2027 NEWEST STUDY QUESTIONS
WITH VERIFIED CORRECT SOLUTIONS
100% ASSURED PASS | RATED A+
,ARIZONA REAL ESTATE PRACTICE TEST 2026/2027
NEWEST STUDY QUESTIONS WITH VERIFIED CORRECT
SOLUTIONS 100% ASSURED PASS | RATED A+
A rental property has 6 rental units that rent for $700 each per month. Similar property in the
area has been selling for $700,000. What would be the gross rent multiplier for this type of
property? - Answer>>> 13.8
At a weekly business meeting, two agents from two different firms discover that they are both
trying to list the same house. In the argument that follows, one agent scolds the other for offering
to take the listing at 6%. Their broker's policy is to take 7% listings. Which law, if any, have the
agents violated? - Answer>>> The Sherman Antitrust law
A listing agent is given confidential information by the seller. The listing agent then gives this
information to the selling agent. Which best describes this activity? - Answer>>> It is a breach
of fiduciary duties
The seller tells the broker they would like to sell their property furnished. The agent should do all
of the following EXCEPT: - Answer>>> Add the personal property to the deed
The purchaser of a property inside a community facilities district would like to know more
information about the community facilities district. Which of the following would most closely
describe a CFD? - Answer>>> Operate, maintain and repair public infrastructure
In a purchase, the sale price is $227,500. The buyer puts $34,125 down and can get a 70% loan
from the bank. What is the amount of the balance of the down payment needed from the buyer,
excluding closing cost? - Answer>>> $227,500 x 70% = $159,250
$227,500 -$159,250=$68,250
$68,250-$34,125 =
(34,125 needed to close)
A home sold property for $162,150, which is 15% more than he paid for it. How much did he
pay for it? - Answer>>> 100%+15%=115%
,$162,150 divide by 115%=
($141,000 original purchase price)
In Arizona, the seller must file with the County Assessor, at the close of escrow, an "affidavit of
value" disclosing the sales price of the real property which is the subject of the transaction. The
purpose of this affidavit is to assist the County Assessor in determining: - Answer>>> The
market value of the property
A real estate broker, in the typical agency relationship with a seller, is a/an: - Answer>>> Special
agent
The principle of ________ affirms that value is created by expected benefits to be derived in the
future. Which of the following is the correct insertion? - Answer>>> Anticipation
When the appraiser looks at the home Sandy has just purchased, he notices it has a fireplace and
the comparable homes do not. He makes a $3,000 upward adjustment on his sales comparison
approach worksheet. The $3,000 adjustment is based on what appraisal principle? - Answer>>>
Contribution
A lender is limited in the amount of reserves they may hold in a residential real estate
transaction. This is governed by: - Answer>>> RESPA
What is taken into consideration when calculating the effective gross income? - Answer>>>
vacancy and loss of credit
A listing agent intentionally fails to tell the buyer of a known defect on the property that later
harms the buyer. The listing agent could be guilty of: - Answer>>> fraud
Which of the following listings would not be entered into a multiple listing service? -
Answer>>> pocket listing
What regulation requires the lender to show the true interest rate? - Answer>>> Reg. Z
The effective rate of interest is best described as: - Answer>>> Annual percentage rate
The VA funding fee would change based on: - Answer>>> Loan to Value
, Broker lists property for $180,000. The ad reads $10,000 down and 8% interest. This ad would
violate: - Answer>>> Reg. Z
What document lets a buyer and seller see the costs involved with closing the transaction? -
Answer>>> HUD-1 statement
A title company is employed by a lender to collect payments on a deed of trust, what is the title
company called? - Answer>>> Servicing agent
Permanent finance payments would include which of the following? - Answer>>> Principal and
interest
What statement in an advertisement requires a full explanation? - Answer>>> Only $5,000 down
What law requires lenders to limit the amount of funds that can be held in reserves? -
Answer>>> RESPA
The mortgagor is: - Answer>>> The borrower
What is not an encumbrance? - Answer>>> Warranty deed
Real estate loan usury rates are set by: - Answer>>> State laws
Prorated taxes would be shown on the settlement statement as a: - Answer>>> Credit to buyer,
debit to seller
A residential tenant with a month-to-month lease enjoys which leasehold estate? - Answer>>>
Periodic tenancy
In real estate terms, an estate for years also may be called: - Answer>>> A leasehold
Which of the following is not essential to a valid contract? - Answer>>> monetary consideration
Which of the following cannot be a trustee? - Answer>>> C.P.A.
An Arizona real estate licensee may not charge for document preparation according to: -
Answer>>> Arizona Constitution Article XXVI
Which of the following requires probate? - Answer>>> Tenancy in common
What would NOT apply to an easement appurtenant? - Answer>>> Prescription
