Arizona Real Estate Exam 2025–2026 | Complete Study Guide & Practice
Questions GRADED A
1. Arizona broker price opinions (BPOs) are per- the opinion must be provided by an
fectly legal if all of the following apply EXCEPT Arizona real estate broker.
2. What is the maximum dollar amount a subdi- $5,000
vider/developer can accept for a lot reserva-
tion?
3. If the holder of a judgment against a real es- two years
tate licensee is going to file a claim against
the Real Estate Recovery Fund, the judgment
holder must file the claim within of ob-
taining the judgment.
4. The grace period after a license in good stand- one year.
ing expires is
5. An action by the purchaser to rescind a pur- three years
chase of subdivided land which is without
permanent access to a public road must be
brought within of the date of execution
of the real estate sales contract by the pur-
chaser.
6. Arizona statutes provide that if within the an easement by prescription.
statutory period (10 years) the owner of land
does not take legal action to eject a person
adversely using a portion of the land, the own-
er's possession rights are extinguished, and
as an operation of law, a new possession right
is created in the adverse possessor. This new
possession right to use a portion of land is
most commonly created with the recordation
of
, Arizona Real Estate Exam 2025–2026 | Complete Study Guide & Practice
Questions GRADED A
7. Dawn does not hold a real estate license, but Yes, because Dawn is being compen-
she tends bar and gets to talk to a lot of folks sated to assist in the procuring of
who are in the market to buy property. She prospects.
provides the name of these prospects to bro-
ker Dave, who pays her cash for the names
and addresses. Is Dawn's conduct considered
brokering?
8. The parties to a property management agree- the brokerage.
ment are the owner of the leased property
and
9. In Arizona, appraiser's licenses are issued for 2 years.
10. A property management broker must deposit within three banking days.
trust funds that are not subject to dispute or
contingency
11. A property management must firm keep three years.
copies of all financial records for
12. A licensee must notify the Arizona Depart- 10 days of the event.
ment of Real Estate (ADRE) of changes to li-
cense information within
13. In Arizona, the lender receives a deed of trust Title theory
as security for a promissory note. The borrow-
er is the trustor and retains equitable title, the
trustee is a disinterested third party that holds
legal title, and the lender is the beneficiary.
Arizona can be BEST characterized as what
kind of state?
, Arizona Real Estate Exam
Study online at https://quizlet.com/_ebnrf3
14. What happens to the license when a claim is The licensee's license is revoked, and
paid from the recovery fund on behalf of the the former licensee must wait two
licensee? years being eligible to reapply for an
original license.
15. A buyer and seller made an agreement in judicial foreclosure.
which the seller agreed to finance the pur-
chase, and the buyer agreed to make pay-
ments to the seller. During the term of the
loan, the seller would retain actual title, and
the buyer would have equitable title. The type
of foreclosure process that would be used
if the buyer defaulted on his agreement to
make payments, and the seller had to retake
possession would be the *
16. The name of the canal that transports Col- Central Arizona Project (CAP).
orado River water to Maricopa, Pinal, and
Pima Counties is
17. After the receipt of the notice of a fair hous- 10
ing complaint from the Attorney General, the
respondent must file a written answer to the
complaint, under oath and in the proper form
within days of receipt of the notice.
18. Until further notice from the Arizona Depart- 6 mandated categories.
ment of Real Estate (ADRE), any individual ap-
plying for a real estate license renewal shall
complete 24 credit hours of continuing edu-
cation (CE) including three hours in each of
19. 60 days
Questions GRADED A
1. Arizona broker price opinions (BPOs) are per- the opinion must be provided by an
fectly legal if all of the following apply EXCEPT Arizona real estate broker.
2. What is the maximum dollar amount a subdi- $5,000
vider/developer can accept for a lot reserva-
tion?
3. If the holder of a judgment against a real es- two years
tate licensee is going to file a claim against
the Real Estate Recovery Fund, the judgment
holder must file the claim within of ob-
taining the judgment.
4. The grace period after a license in good stand- one year.
ing expires is
5. An action by the purchaser to rescind a pur- three years
chase of subdivided land which is without
permanent access to a public road must be
brought within of the date of execution
of the real estate sales contract by the pur-
chaser.
6. Arizona statutes provide that if within the an easement by prescription.
statutory period (10 years) the owner of land
does not take legal action to eject a person
adversely using a portion of the land, the own-
er's possession rights are extinguished, and
as an operation of law, a new possession right
is created in the adverse possessor. This new
possession right to use a portion of land is
most commonly created with the recordation
of
, Arizona Real Estate Exam 2025–2026 | Complete Study Guide & Practice
Questions GRADED A
7. Dawn does not hold a real estate license, but Yes, because Dawn is being compen-
she tends bar and gets to talk to a lot of folks sated to assist in the procuring of
who are in the market to buy property. She prospects.
provides the name of these prospects to bro-
ker Dave, who pays her cash for the names
and addresses. Is Dawn's conduct considered
brokering?
8. The parties to a property management agree- the brokerage.
ment are the owner of the leased property
and
9. In Arizona, appraiser's licenses are issued for 2 years.
10. A property management broker must deposit within three banking days.
trust funds that are not subject to dispute or
contingency
11. A property management must firm keep three years.
copies of all financial records for
12. A licensee must notify the Arizona Depart- 10 days of the event.
ment of Real Estate (ADRE) of changes to li-
cense information within
13. In Arizona, the lender receives a deed of trust Title theory
as security for a promissory note. The borrow-
er is the trustor and retains equitable title, the
trustee is a disinterested third party that holds
legal title, and the lender is the beneficiary.
Arizona can be BEST characterized as what
kind of state?
, Arizona Real Estate Exam
Study online at https://quizlet.com/_ebnrf3
14. What happens to the license when a claim is The licensee's license is revoked, and
paid from the recovery fund on behalf of the the former licensee must wait two
licensee? years being eligible to reapply for an
original license.
15. A buyer and seller made an agreement in judicial foreclosure.
which the seller agreed to finance the pur-
chase, and the buyer agreed to make pay-
ments to the seller. During the term of the
loan, the seller would retain actual title, and
the buyer would have equitable title. The type
of foreclosure process that would be used
if the buyer defaulted on his agreement to
make payments, and the seller had to retake
possession would be the *
16. The name of the canal that transports Col- Central Arizona Project (CAP).
orado River water to Maricopa, Pinal, and
Pima Counties is
17. After the receipt of the notice of a fair hous- 10
ing complaint from the Attorney General, the
respondent must file a written answer to the
complaint, under oath and in the proper form
within days of receipt of the notice.
18. Until further notice from the Arizona Depart- 6 mandated categories.
ment of Real Estate (ADRE), any individual ap-
plying for a real estate license renewal shall
complete 24 credit hours of continuing edu-
cation (CE) including three hours in each of
19. 60 days
