ASREB State Test B-1 with Complete
Solutions
A broker goes on a cruise for ten days. Who can be left in charge?
Any unlicensed employee
Any real estate licensee employed by the broker
Only a real estate salesperson
Any corporate officers - ANSWER-Any real estate licensee employed by the broker
A broker prepares documents at a cost of $35. Which of the following is true?
The broker cannot charge for the service
The broker may charge if the parties agree
The broker may charge if it is considered an escrow fee
The broker may charge if the fee was negotiated - ANSWER-The broker cannot charge
for the service
A broker receives an oral offer over the telephone. What should they do?
Refuse to present it until it is in writing
Refuse to present it unless they have earnest money
The broker must present the oral offer
Tell the buyer that oral offers are illegal - ANSWER-The broker must present the oral
offer
A licensee may NOT charge for document preparation as a result of which of the
following:
Rules and Regulations
Arizona Statutes
Arizona Constitution Article XXVI
Law of Agency - ANSWER-Arizona Constitution Article XXVI
A public report is to be given to a buyer:
Before the buyer signs the contract
Within three days of signing the contract
Within seven days after signing the contract
Within six months of signing the contract - ANSWER-Before the buyer signs the
contract
A public report will be denied a developer for all of the following reasons EXCEPT:
Failure to deliver marketable title
Not providing detailed floor plans
Misrepresenting the suitability of the property as a homesite
Lack of financial ability to complete the project - ANSWER-Not providing detailed floor
plans
, A salesperson receives an offer on a property of another listing broker. The salesperson
cannot contact the listing broker within 24 hours. What must the salesperson do?
Request the seller give the salesperson written authorization to present the offer
Mail the offer back to the buyer
Submit the offer to the seller immediately
Hold the offer until the salesperson can contact the listing broker - ANSWER-Request
the seller give the salesperson written authorization to present the offer
A subdivider employed hostesses to show houses. The hostesses explained the
features of the homes and quoted prices and terms. In this instance:
Only the broker need be licensed
The hostesses are employees and need no license
The hostesses must be licensed real estate salespeople
As long as the hostesses do not accept deposits and do not write contracts, the
hostesses need not be licensees - ANSWER-The hostesses must be licensed real
estate salespeople
A subdivider must be able to give the purchaser:
Building permits
Permanent access
Water rights
Perfect title - ANSWER-Permanent access
A subdivision public report would be required on all of the following properties EXCEPT:
Residential timeshare
New home sales
Apartments converted to condos
Commercial lots - ANSWER-Commercial lots
A temporary broker's license can be obtained by another party for all of the following
EXCEPT:
Broker dies
Broker declared insane
Broker injured
Broker is on an extended vacation - ANSWER-Broker is on an extended vacation
A verbal lease of one year would be:
Void
Voidable
Valid
Unenforceable - ANSWER-Valid
According to Real Estate Law, an improved lot would be:
A lot with utilities
A lot with streets and servers
A lot that has been subdivided
Solutions
A broker goes on a cruise for ten days. Who can be left in charge?
Any unlicensed employee
Any real estate licensee employed by the broker
Only a real estate salesperson
Any corporate officers - ANSWER-Any real estate licensee employed by the broker
A broker prepares documents at a cost of $35. Which of the following is true?
The broker cannot charge for the service
The broker may charge if the parties agree
The broker may charge if it is considered an escrow fee
The broker may charge if the fee was negotiated - ANSWER-The broker cannot charge
for the service
A broker receives an oral offer over the telephone. What should they do?
Refuse to present it until it is in writing
Refuse to present it unless they have earnest money
The broker must present the oral offer
Tell the buyer that oral offers are illegal - ANSWER-The broker must present the oral
offer
A licensee may NOT charge for document preparation as a result of which of the
following:
Rules and Regulations
Arizona Statutes
Arizona Constitution Article XXVI
Law of Agency - ANSWER-Arizona Constitution Article XXVI
A public report is to be given to a buyer:
Before the buyer signs the contract
Within three days of signing the contract
Within seven days after signing the contract
Within six months of signing the contract - ANSWER-Before the buyer signs the
contract
A public report will be denied a developer for all of the following reasons EXCEPT:
Failure to deliver marketable title
Not providing detailed floor plans
Misrepresenting the suitability of the property as a homesite
Lack of financial ability to complete the project - ANSWER-Not providing detailed floor
plans
, A salesperson receives an offer on a property of another listing broker. The salesperson
cannot contact the listing broker within 24 hours. What must the salesperson do?
Request the seller give the salesperson written authorization to present the offer
Mail the offer back to the buyer
Submit the offer to the seller immediately
Hold the offer until the salesperson can contact the listing broker - ANSWER-Request
the seller give the salesperson written authorization to present the offer
A subdivider employed hostesses to show houses. The hostesses explained the
features of the homes and quoted prices and terms. In this instance:
Only the broker need be licensed
The hostesses are employees and need no license
The hostesses must be licensed real estate salespeople
As long as the hostesses do not accept deposits and do not write contracts, the
hostesses need not be licensees - ANSWER-The hostesses must be licensed real
estate salespeople
A subdivider must be able to give the purchaser:
Building permits
Permanent access
Water rights
Perfect title - ANSWER-Permanent access
A subdivision public report would be required on all of the following properties EXCEPT:
Residential timeshare
New home sales
Apartments converted to condos
Commercial lots - ANSWER-Commercial lots
A temporary broker's license can be obtained by another party for all of the following
EXCEPT:
Broker dies
Broker declared insane
Broker injured
Broker is on an extended vacation - ANSWER-Broker is on an extended vacation
A verbal lease of one year would be:
Void
Voidable
Valid
Unenforceable - ANSWER-Valid
According to Real Estate Law, an improved lot would be:
A lot with utilities
A lot with streets and servers
A lot that has been subdivided
