B-1 ASREB Real Estate Exam | Gray Packet Study
Guide (All Answers Correct!)
A subdivider employés hostesses to show houses. The hostesses explain the feature
of the homes and gave the prices and terms. In this scenario:
A. Only the sales broker needs to be licensed
B. Hostesses are employees only and need not be licensed
C. The hostesses must be licensed
D. As long as they do not accept deposits and do not write up sales, the hostesses
need not be licensed - (ANSWERS)c. The hostesses must be licensed
A timeshare would be required to have a public report if:
A. There are twelve or more intervals
B. It contains six or more improved lots
C. It is zoned commercial
D. Gifts are being offered as an incentive - (ANSWERS)a. There are twelve or mor
intervals
How many days does an employing broker have to return a salesperson's license to
the Department of Real Estate once a licensee is terminated from the brokerage?
A. 3
B. 7
C. 10
D. 14 - (ANSWERS)c. 10
Which of the following is FALSE regarding the Affidavit of Disclosure?
A. The Buyer has a five-day right to rescind after receipt of the disclosure
B. The disclosure applies if five or fewer parcels in unincorporated areas not locate
in a subdivision are sold, regardless of property type
C. The affidavit of disclosure applies only to the residential-zoned property
D. The affidavit of disclosure will be recorded with the deed - (ANSWERS)c. The
,B-1 ASREB Real Estate Exam | Gray Packet Study
Guide (All Answers Correct!)
affidavit of disclosure applies only to the residential-zoned property
Arizona real estate law sates that the Real Estate Commissioner may do each of the
following EXCEPT:
A. Investigate a written and verified complaint made against a licensee
B. In order to be appointed to the position, have five years' experience in real estate
title insurance, or banking industry
C. Investigate the action of licensee at any time
D. Hold an active real estate license while acting as Real Estate Commissioner -
(ANSWERS)d. Hold an active real estate license while acting as Real Estate
Commissioner
A license is granted for:
A. 1 year
B. 2 years
C. 3 years
D. 4 years - (ANSWERS)b. 2 years
An apartment leasing agent without real estate license may NOT accept:
A. Discount on rent for his unit
B. Payment for leasing apartments
C. Commission for sales of apartments
D. A free apartment - (ANSWERS)c. Commission for sales of apartments
To qualify as an Arizona real estate broker, the candidate must:
A. Be a resident of Arizona
B. Obtain a bond
C. First become an associate broker and then a designated broker
Guide (All Answers Correct!)
A subdivider employés hostesses to show houses. The hostesses explain the feature
of the homes and gave the prices and terms. In this scenario:
A. Only the sales broker needs to be licensed
B. Hostesses are employees only and need not be licensed
C. The hostesses must be licensed
D. As long as they do not accept deposits and do not write up sales, the hostesses
need not be licensed - (ANSWERS)c. The hostesses must be licensed
A timeshare would be required to have a public report if:
A. There are twelve or more intervals
B. It contains six or more improved lots
C. It is zoned commercial
D. Gifts are being offered as an incentive - (ANSWERS)a. There are twelve or mor
intervals
How many days does an employing broker have to return a salesperson's license to
the Department of Real Estate once a licensee is terminated from the brokerage?
A. 3
B. 7
C. 10
D. 14 - (ANSWERS)c. 10
Which of the following is FALSE regarding the Affidavit of Disclosure?
A. The Buyer has a five-day right to rescind after receipt of the disclosure
B. The disclosure applies if five or fewer parcels in unincorporated areas not locate
in a subdivision are sold, regardless of property type
C. The affidavit of disclosure applies only to the residential-zoned property
D. The affidavit of disclosure will be recorded with the deed - (ANSWERS)c. The
,B-1 ASREB Real Estate Exam | Gray Packet Study
Guide (All Answers Correct!)
affidavit of disclosure applies only to the residential-zoned property
Arizona real estate law sates that the Real Estate Commissioner may do each of the
following EXCEPT:
A. Investigate a written and verified complaint made against a licensee
B. In order to be appointed to the position, have five years' experience in real estate
title insurance, or banking industry
C. Investigate the action of licensee at any time
D. Hold an active real estate license while acting as Real Estate Commissioner -
(ANSWERS)d. Hold an active real estate license while acting as Real Estate
Commissioner
A license is granted for:
A. 1 year
B. 2 years
C. 3 years
D. 4 years - (ANSWERS)b. 2 years
An apartment leasing agent without real estate license may NOT accept:
A. Discount on rent for his unit
B. Payment for leasing apartments
C. Commission for sales of apartments
D. A free apartment - (ANSWERS)c. Commission for sales of apartments
To qualify as an Arizona real estate broker, the candidate must:
A. Be a resident of Arizona
B. Obtain a bond
C. First become an associate broker and then a designated broker
