REAL ESTATE TEST LATEST
ARIZONA #5
ANSWER ALL QUESTIONS IN THIS SECTION
QUESTION 1
Two property managers are planning to set rental rates on their units to keep the
rents high in the area. Which of the following would be true?
(a) Violation of RESPA
(b) Violation of antitrust laws
(C) Violation of steering laws
(d) Violation of Fair housing laws - ANSWERS-(b) Violation of antitrust laws
QUESTION 2
If at the end of a lease, the tenant is allowed to remain for an indefinite length of
time, this is best described as:
(a) Estate at sufferance
(b) Estate for years
(c) Holdover tenancy
(d) Estate at will - ANSWERS-(d) Estate at will
END OF
PAGE
1
, REAL ESTATE TEST LATEST
ARIZONA #5
QUESTION 3
If you do not renew your real estate license by the end of your grace period what is
the status of your license?
(a) Expired
(b) Revoked
(c) Suspended
(d) Terminated - ANSWERS-(a) Expired
QUESTION 4
A variance would be which of the following?
(a) Exception to the zoning
(b) Re-zoning
(c) Grandfathered use
(d) Spot zoning - ANSWERS-(a) Exception to the zoning
QUESTION 5
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PAGE
2
, REAL ESTATE TEST LATEST
ARIZONA #5
Which of the following is determined by measuring the exterior dimensions of a
home including garages, patios and entryways?
(a) Square footage under roof
(b) Heated and cooled areas
(c) Front footage area
(d) Square footage of living area - ANSWERS-(a) Square footage under roof
QUESTION 6
Several real estate brokers managing different companies were discussing the
possibility of establishing an office policy to list all raw land for sale at a 10%
commission. Which of the following is true?
(a) The brokers are in violation of RESPA
(b) The brokers violated Reg Z
(c) The brokers are not guilty of anything because it is considered an office policy
(d) The brokers are in violation of the Sherman Antitrust Act - ANSWERS-(d) The
brokers are in violation of the Sherman Antitrust Act
QUESTION 7
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PAGE
3
, REAL ESTATE TEST LATEST
ARIZONA #5
Who would need a real estate license?
(a) Attorney - in - fact
(b) Attorney outside the scope of their work
(c) Trustee
(d) Receiver - ANSWERS-(b) Attorney outside the scope of their work
QUESTION 8
What disclosure is not required in a real estate transaction?
(a) House is in a Superfund area
(b) House has termites
(c) A portion of the house was damaged by fire 3 years ago
(d) Seller has AIDS - ANSWERS-(d) Seller has AIDS
QUESTION 9
Which of the following listed below would be considered personal property?
(a) Promissory Note
(b) Leasehold Improvements
(c) Easement appurtenant
END OF
PAGE
4
ARIZONA #5
ANSWER ALL QUESTIONS IN THIS SECTION
QUESTION 1
Two property managers are planning to set rental rates on their units to keep the
rents high in the area. Which of the following would be true?
(a) Violation of RESPA
(b) Violation of antitrust laws
(C) Violation of steering laws
(d) Violation of Fair housing laws - ANSWERS-(b) Violation of antitrust laws
QUESTION 2
If at the end of a lease, the tenant is allowed to remain for an indefinite length of
time, this is best described as:
(a) Estate at sufferance
(b) Estate for years
(c) Holdover tenancy
(d) Estate at will - ANSWERS-(d) Estate at will
END OF
PAGE
1
, REAL ESTATE TEST LATEST
ARIZONA #5
QUESTION 3
If you do not renew your real estate license by the end of your grace period what is
the status of your license?
(a) Expired
(b) Revoked
(c) Suspended
(d) Terminated - ANSWERS-(a) Expired
QUESTION 4
A variance would be which of the following?
(a) Exception to the zoning
(b) Re-zoning
(c) Grandfathered use
(d) Spot zoning - ANSWERS-(a) Exception to the zoning
QUESTION 5
END OF
PAGE
2
, REAL ESTATE TEST LATEST
ARIZONA #5
Which of the following is determined by measuring the exterior dimensions of a
home including garages, patios and entryways?
(a) Square footage under roof
(b) Heated and cooled areas
(c) Front footage area
(d) Square footage of living area - ANSWERS-(a) Square footage under roof
QUESTION 6
Several real estate brokers managing different companies were discussing the
possibility of establishing an office policy to list all raw land for sale at a 10%
commission. Which of the following is true?
(a) The brokers are in violation of RESPA
(b) The brokers violated Reg Z
(c) The brokers are not guilty of anything because it is considered an office policy
(d) The brokers are in violation of the Sherman Antitrust Act - ANSWERS-(d) The
brokers are in violation of the Sherman Antitrust Act
QUESTION 7
END OF
PAGE
3
, REAL ESTATE TEST LATEST
ARIZONA #5
Who would need a real estate license?
(a) Attorney - in - fact
(b) Attorney outside the scope of their work
(c) Trustee
(d) Receiver - ANSWERS-(b) Attorney outside the scope of their work
QUESTION 8
What disclosure is not required in a real estate transaction?
(a) House is in a Superfund area
(b) House has termites
(c) A portion of the house was damaged by fire 3 years ago
(d) Seller has AIDS - ANSWERS-(d) Seller has AIDS
QUESTION 9
Which of the following listed below would be considered personal property?
(a) Promissory Note
(b) Leasehold Improvements
(c) Easement appurtenant
END OF
PAGE
4
