Missed questions pt7 RE exam
actual questions fully solved
(LATEST UPDATED VERSION
GRADED A+)
For Arizona residents to take advantage of the homestead
exemption, what must they do? - answer Nothing. It's automatic.
Clarence is a Gilbert broker who's performing a three-step
reconciliation. He's compared the bank statement balance—
adjusting for any outstanding checks or receipts—to the balance on
his receipts and disbursements journal for the same date. How
should these numbers compare? - answer They should match.
Cooperative shareholders under a condop structure have ______. -
answer Flexibility in selling and subletting, similar to that of
condominium owners
Which form of alienation occurs with the owner's consent? - answer
Voluntary
Max has a written agency agreement with Rufus in which Max will
receive all of the listings in the subdivision that Rufus purchased
(with Max's representation) and is developing. One day when Rufus
is visiting the site of the subdivision, a work truck accidentally runs
him over and he's seriously injured. Rufus can no longer run the
development of the subdivision. What happens to Max's agency
coupled with interest? - answer It's still in place because it doesn't
terminate on the death or incompetence of the principal.
Where can a party reviewing a title commitment find basic details
about the transaction? - answer Schedule A
, Buyers of timeshares in Arizona may cancel their purchases within
how many days of signing the contract? - answer 10 days
Under Arizona law, tenants have certain obligations regarding bed
bugs. Which of the following is one of those obligations? - answer
Not moving materials that are known to be infested with bed bugs
into a dwelling
Carmen is a repeat offender for contracting without a license. What
financial penalty does the AZ ROC stipulate for repeat offenders? -
answer A maximum fine of $2,500 plus an 83% surcharge
What type of notice results from publicly recording a title transfer? -
answer Constructive notice
Which of the following is the most serious consequence of treating a
customer as a client? - answer Breaching your duty to your actual
client
Tip-Top Title, an Arizona title company, is the trustee for a home
loan secured by a deed of trust. When the borrower defaults and the
lender decides to foreclose, Tip-Top Title records the appropriate
notice with the county to start the process. What does Tip-Top need
to do as the next step in the process? - answer Notify the trustor
and the beneficiary of the recorded notice within five days.
Evelyn received notice of an ADRE audit of her clients' trust
accounts. Thank goodness she's a stickler for record keeping. Which
three required records has she produced on a monthly basis to keep
her in compliance? - answer Journals, bank statements, and
reconciliation report
In a judicial foreclosure in Arizona, who bears responsibility for the
foreclosure sale? - answer The county sheriff
actual questions fully solved
(LATEST UPDATED VERSION
GRADED A+)
For Arizona residents to take advantage of the homestead
exemption, what must they do? - answer Nothing. It's automatic.
Clarence is a Gilbert broker who's performing a three-step
reconciliation. He's compared the bank statement balance—
adjusting for any outstanding checks or receipts—to the balance on
his receipts and disbursements journal for the same date. How
should these numbers compare? - answer They should match.
Cooperative shareholders under a condop structure have ______. -
answer Flexibility in selling and subletting, similar to that of
condominium owners
Which form of alienation occurs with the owner's consent? - answer
Voluntary
Max has a written agency agreement with Rufus in which Max will
receive all of the listings in the subdivision that Rufus purchased
(with Max's representation) and is developing. One day when Rufus
is visiting the site of the subdivision, a work truck accidentally runs
him over and he's seriously injured. Rufus can no longer run the
development of the subdivision. What happens to Max's agency
coupled with interest? - answer It's still in place because it doesn't
terminate on the death or incompetence of the principal.
Where can a party reviewing a title commitment find basic details
about the transaction? - answer Schedule A
, Buyers of timeshares in Arizona may cancel their purchases within
how many days of signing the contract? - answer 10 days
Under Arizona law, tenants have certain obligations regarding bed
bugs. Which of the following is one of those obligations? - answer
Not moving materials that are known to be infested with bed bugs
into a dwelling
Carmen is a repeat offender for contracting without a license. What
financial penalty does the AZ ROC stipulate for repeat offenders? -
answer A maximum fine of $2,500 plus an 83% surcharge
What type of notice results from publicly recording a title transfer? -
answer Constructive notice
Which of the following is the most serious consequence of treating a
customer as a client? - answer Breaching your duty to your actual
client
Tip-Top Title, an Arizona title company, is the trustee for a home
loan secured by a deed of trust. When the borrower defaults and the
lender decides to foreclose, Tip-Top Title records the appropriate
notice with the county to start the process. What does Tip-Top need
to do as the next step in the process? - answer Notify the trustor
and the beneficiary of the recorded notice within five days.
Evelyn received notice of an ADRE audit of her clients' trust
accounts. Thank goodness she's a stickler for record keeping. Which
three required records has she produced on a monthly basis to keep
her in compliance? - answer Journals, bank statements, and
reconciliation report
In a judicial foreclosure in Arizona, who bears responsibility for the
foreclosure sale? - answer The county sheriff
