Test Questions for AZ Real Estate

When would a broker not be in violation if one of his agents violated the commissioner's rules? Notify the commissioner immediately How often is the assessed valuation of real estate adjusted by the county assessor? Annually A married couple in Arizona wants to purchase a home with only the wife being the sole owner. What must the husband sign for this to be accomplished? Disclaimer deed IF the deed to the conveyance of a property is not recorded, then the deed is? Valid The broker and his salesperson have a few deals already in escrow. However, the broker's license is now suspended. What happens to the commissions? Both, salesperson and broker, will receive commission A property manager receives a nonrefundable cleaning fee from the tenant. What must the property manager do with this money? Give it directly to the owner, and deposit it into the property management trust account to hold on behalf of the escrow A real estate licensee renews her license but two weeks later the ADRE notified her that she did not complete the renewal requirements. Since her renewal, the agent has a couple of transactions in escrow. Will she be entitled to commissions to these transactions? Yes, she is entitled to a commission on transactions before her notification of termination from the ADRE What causes mold? Humidity A gas station has owned a property since 1998 and eventually sells it to a private party. In 2016, the private party signs a contract with a buyer. A phase 1 inspection is ordered and comes back with the land being polluted. Who would not be responsible for cleaning up the property? Buyer Which of the following would be the best method for appraising vacant land? Market data approach