ARIZONA REAL ESTATE STUDY GUIDE 2025/2026
QUESTIONS AND ANSWERS GUARANTEE A+
✔✔What is the purpose of an affidavit of value? - ✔✔Assist the County Assessor in
determining property values
✔✔In Arizona, you may obtain title under which of the following? - ✔✔Adverse
possession
✔✔Which of the following coverage would NOT be included in an owner's policy of title
insurance? - ✔✔Parties in adverse possession
✔✔Which of the following would NOT be covered in a standard owner's policy of title
insurance? - ✔✔Easements obtained by prescription
✔✔An owner's title policy would protect a buyer against which of the following? -
✔✔Forgery
✔✔Arizona, a deed must be signed by the - ✔✔Grantor
✔✔A deed is acknowledged in Arizona to: - ✔✔Meet state law
✔✔Who signs a deed of conveyance? - ✔✔Grantor
✔✔At wht point does recordation take place? - ✔✔Docket and page number are
assigned
✔✔A licensed contractor is hired and paid in full directly by the owner of a commercial
property. The general contractor fails to pay the subcontractors for the work they
performed. The general contractor then files bankruptcy, and subcontractor files a
mechanics lien within 125 days from the completion of his work. In this situation, which
of the following is true regarding the subcontractor? - ✔✔The lien is not valid because it
was not recorded within the required time period
✔✔How long does a subcontractor have to file a mechanic's lein? - ✔✔120 days after
completion of work
✔✔Which of the following would NOT be involved in a Deed of Trust? - ✔✔Vendor
✔✔A defeasance clause in a Deed of Trust allows for - ✔✔Cancellation of the lender's
claim upon full note payment
,✔✔If one was to research the county public records, one would always find: -
✔✔Mechanic's liens
✔✔When a Deed of Trust is satisfied, the trustee sends out a - ✔✔Deed of
reconveyance
✔✔An owner hires a general contractor to build a commercial project. The owner pays
the general in full, but the general fails to pay the subcontractors. Which of the following
statements are true? - ✔✔The subs can file a mechanics lien against the property
✔✔Who would provide instructions regarding signing of the deed of reconveyance? -
✔✔Beneficiary
✔✔Naked legal title best describes the interest of: - ✔✔Trustee under a trust deed
✔✔What is NOT true regarding a mechanic's lein? - ✔✔A mechanics lien may be filed
at any time
✔✔Property taxes are what type of lien? - ✔✔Specific
✔✔Which of the following could NOT be part of a Deed of Trust? - ✔✔Statutory
forfeiture period
✔✔An Assignment of Rents Clause is for the benefit of the: - ✔✔Beneficiary
✔✔A mechanic's lien must be placed on title by a general contractor within: - ✔✔120
days after job is completed
✔✔When do you file a mechanic's lien: - ✔✔Completion of work
✔✔A mechanic's lien may be filed by: - ✔✔The lumber supplier
✔✔Mechanic's lien takes priority: - ✔✔Date work began
✔✔If you have been given notice of a possible future lien, this lien is probably for -
✔✔Mechanic's lien
✔✔A general contractor does work for a tenant in a commercial leased space. The
tenant fails to pay the contractor. Which of the following is true regarding the mechanic's
lien? - ✔✔The contractor can only lien the leasehold interest
✔✔A tenant hires a contractor to construct a patio roof. The tenant refuses to pay the
amount owed, the mechanic may file a lien against: - ✔✔Tenant's improvements
, ✔✔Once originated, under the Deed of Trust, who owns the property? - ✔✔Trustor
✔✔Who pays the fee for recording a Deed of Reconveyance? - ✔✔Trustor
✔✔Which of the parties below would hold "naked title" in a deed of trust? - ✔✔Trustee
✔✔Who gives instructions to sign the deed of reconveyance? - ✔✔Beneficiary
✔✔When a mechanic's lien is recorded and later results in a judgment, what is the lien
priority of the judgment? - ✔✔Same as the mechanic's lien
✔✔Judgments in Arizona would be valid for what period of time? - ✔✔5 years
✔✔What accompanies a deed of trust? - ✔✔Note
✔✔A contractor starts work on May 1, 2000. He completes work on August 15, 2000
and records a mechanic's lien on October 10, 2000. What is the effective date of the
lien? - ✔✔May 1
✔✔Seller sells a property to a buyer and has repairs done thirty days before the close of
escrow. The buyer obtains a new FHA loan and closes escrow, after the closing the
contractor files a mechanic's lien. What is the status of the FHA loan? - ✔✔position FHA
is in second position
✔✔Which of the following is filed with the Arizona Secretary of State? - ✔✔The UCC-1
financing statement
✔✔When could a person receive legal title to the property under an Agreement for
Sale? - ✔✔Upon the last payment
✔✔A buyer buys a property under an Agreement for Sale with only 10 percent down.
The buyer then leaves town and abandons the property. Which of the following
statements are true? - ✔✔Buyer will forfeit their equity after specific time period
✔✔Which of the following instruments contain the note and security in one document? -
✔✔Agreement for sale
✔✔The forfeiture period on a land contract is - ✔✔A specific statutory period of time
✔✔At a mortgage foreclosure sale, if the property is abandoned, the statutory period of
redemption can be cut to which of the following times? - ✔✔30 days
QUESTIONS AND ANSWERS GUARANTEE A+
✔✔What is the purpose of an affidavit of value? - ✔✔Assist the County Assessor in
determining property values
✔✔In Arizona, you may obtain title under which of the following? - ✔✔Adverse
possession
✔✔Which of the following coverage would NOT be included in an owner's policy of title
insurance? - ✔✔Parties in adverse possession
✔✔Which of the following would NOT be covered in a standard owner's policy of title
insurance? - ✔✔Easements obtained by prescription
✔✔An owner's title policy would protect a buyer against which of the following? -
✔✔Forgery
✔✔Arizona, a deed must be signed by the - ✔✔Grantor
✔✔A deed is acknowledged in Arizona to: - ✔✔Meet state law
✔✔Who signs a deed of conveyance? - ✔✔Grantor
✔✔At wht point does recordation take place? - ✔✔Docket and page number are
assigned
✔✔A licensed contractor is hired and paid in full directly by the owner of a commercial
property. The general contractor fails to pay the subcontractors for the work they
performed. The general contractor then files bankruptcy, and subcontractor files a
mechanics lien within 125 days from the completion of his work. In this situation, which
of the following is true regarding the subcontractor? - ✔✔The lien is not valid because it
was not recorded within the required time period
✔✔How long does a subcontractor have to file a mechanic's lein? - ✔✔120 days after
completion of work
✔✔Which of the following would NOT be involved in a Deed of Trust? - ✔✔Vendor
✔✔A defeasance clause in a Deed of Trust allows for - ✔✔Cancellation of the lender's
claim upon full note payment
,✔✔If one was to research the county public records, one would always find: -
✔✔Mechanic's liens
✔✔When a Deed of Trust is satisfied, the trustee sends out a - ✔✔Deed of
reconveyance
✔✔An owner hires a general contractor to build a commercial project. The owner pays
the general in full, but the general fails to pay the subcontractors. Which of the following
statements are true? - ✔✔The subs can file a mechanics lien against the property
✔✔Who would provide instructions regarding signing of the deed of reconveyance? -
✔✔Beneficiary
✔✔Naked legal title best describes the interest of: - ✔✔Trustee under a trust deed
✔✔What is NOT true regarding a mechanic's lein? - ✔✔A mechanics lien may be filed
at any time
✔✔Property taxes are what type of lien? - ✔✔Specific
✔✔Which of the following could NOT be part of a Deed of Trust? - ✔✔Statutory
forfeiture period
✔✔An Assignment of Rents Clause is for the benefit of the: - ✔✔Beneficiary
✔✔A mechanic's lien must be placed on title by a general contractor within: - ✔✔120
days after job is completed
✔✔When do you file a mechanic's lien: - ✔✔Completion of work
✔✔A mechanic's lien may be filed by: - ✔✔The lumber supplier
✔✔Mechanic's lien takes priority: - ✔✔Date work began
✔✔If you have been given notice of a possible future lien, this lien is probably for -
✔✔Mechanic's lien
✔✔A general contractor does work for a tenant in a commercial leased space. The
tenant fails to pay the contractor. Which of the following is true regarding the mechanic's
lien? - ✔✔The contractor can only lien the leasehold interest
✔✔A tenant hires a contractor to construct a patio roof. The tenant refuses to pay the
amount owed, the mechanic may file a lien against: - ✔✔Tenant's improvements
, ✔✔Once originated, under the Deed of Trust, who owns the property? - ✔✔Trustor
✔✔Who pays the fee for recording a Deed of Reconveyance? - ✔✔Trustor
✔✔Which of the parties below would hold "naked title" in a deed of trust? - ✔✔Trustee
✔✔Who gives instructions to sign the deed of reconveyance? - ✔✔Beneficiary
✔✔When a mechanic's lien is recorded and later results in a judgment, what is the lien
priority of the judgment? - ✔✔Same as the mechanic's lien
✔✔Judgments in Arizona would be valid for what period of time? - ✔✔5 years
✔✔What accompanies a deed of trust? - ✔✔Note
✔✔A contractor starts work on May 1, 2000. He completes work on August 15, 2000
and records a mechanic's lien on October 10, 2000. What is the effective date of the
lien? - ✔✔May 1
✔✔Seller sells a property to a buyer and has repairs done thirty days before the close of
escrow. The buyer obtains a new FHA loan and closes escrow, after the closing the
contractor files a mechanic's lien. What is the status of the FHA loan? - ✔✔position FHA
is in second position
✔✔Which of the following is filed with the Arizona Secretary of State? - ✔✔The UCC-1
financing statement
✔✔When could a person receive legal title to the property under an Agreement for
Sale? - ✔✔Upon the last payment
✔✔A buyer buys a property under an Agreement for Sale with only 10 percent down.
The buyer then leaves town and abandons the property. Which of the following
statements are true? - ✔✔Buyer will forfeit their equity after specific time period
✔✔Which of the following instruments contain the note and security in one document? -
✔✔Agreement for sale
✔✔The forfeiture period on a land contract is - ✔✔A specific statutory period of time
✔✔At a mortgage foreclosure sale, if the property is abandoned, the statutory period of
redemption can be cut to which of the following times? - ✔✔30 days
