Arizona Real Estate Exam Q&A

Who regulates ground water in AZ? ADWR (Arizona Department of Water Resource) Who is responsible for pest management in AZ? Arizona Department of Agriculture What does the ADRE Enforce? Real Estate Statutes and Commissioner's Rules How long is a septic tank inspection good for? 6 Months Which law requires a non-us resident to pay tax gains from US property sale? U.S. Foreign Investment in Real Property Tax Act and is referred to as F.I.R.P.T.A. A 3.45 - Acre lot is selling for 50 cents per square foot. What is the selling price? A. $37,570 B. $75,141 C. $76,230 D. $78,712 B. $75,141 43,560 square ft in an acre (1) 43,560 X 3.45 = 150,282 (2) 150,282 X $0.50 = $75,141 A Blind ad refers to an ad that: A. provides no price. B. provides no address C. gives no indication that the property is listed with a broker. D. gives no indication that the property has been sold or not. C. gives no indication that the property is listed with a broker. A Borrower is required to put 10% down for the purchase of a property. The 10% down would be considered: A. equity. B. boot C. tax shelter D. leverage A. equity A Broker, acting as a property manager, would be what type of agent? A. special B. general C. implied D. ostensible B. general A buyer pays 20% down and obtains a real estate mortgage. The buyer makes no further payments. What clause would the lender now exercise? A. alienation B. habendum C. novation D. acceleration D. acceleration