ASREB END OF COURSE EXAM QUESTIONS AND ANSWERS
RATED A+
✔✔Which of the following is required in a dual agency disclosure? - ✔✔A sales person
in a branch office of a company that represents the buyer and an associate company
that represents the seller
✔✔A real estate licensee would like to hold a membership camping license, which of
the following is true? - ✔✔It is lawful to hold both licenses concurrently
✔✔Two people own a property, one passes away. How is title held if the heirs received
no interest in the property? - ✔✔Joint tenancy
✔✔A house rents for $980 per month. Property sold and closes escrow April 15th. What
is the proration of rent at closing? - ✔✔Credit buyer $522.67
✔✔Taxes are $915 per year. Seller paid the first half. COE is on November 16th. What
is the proration using a statutory year? - ✔✔$343 debit seller
✔✔What is paid at close of escrow? - ✔✔Title insurance
✔✔Which of the following would be a covenant in a deed: - ✔✔Quiet enjoyment
✔✔When a minor enters into a real estate contract, the status of the contract is: -
✔✔Voidable by minor
✔✔A deed must be signed by the: - ✔✔Grantor
✔✔If a seller is listing property and selling it himself without paying commission this
means the seller signed an: - ✔✔Exclusive Agency
✔✔Exclusive right to sell is: - ✔✔An executory bilateral contract
✔✔At a mortgage foreclosure sale, if the property is ABANDONED, the period of
redemption is: - ✔✔30 days
✔✔Person named in an insurance policy that receives insurance proceeds if property is
damaged is: - ✔✔Loss payee
✔✔A 3.45 acre lot sells for $.50 per square foot. What is the selling price? - ✔✔$75,141
✔✔When are Arizona property taxes levied? - ✔✔Semi annually
, ✔✔When are real estate taxes levied? - ✔✔Annually
✔✔An option once exercised is considered: - ✔✔unilateral executed
✔✔A broker has what duty to a third-party? - ✔✔Honesty, and to disclose all material
facts
✔✔A defeasance clause in a Deed of Trust allows for: - ✔✔Cancellation of the lender's
claim upon full note payment
✔✔A buyer and seller wish to cancel a contract, who signs the cancellation? - ✔✔Buyer
and seller
✔✔Which of the following is a specific lien regarding real estate? - ✔✔Special
assessment
✔✔On a closing statement the amount of the sales price would be? - ✔✔Debit buyer,
credit seller
✔✔Ownership implies everything except: - ✔✔destruction
✔✔Two sisters want to buy property and leave it to their heirs, they should take title: -
✔✔Tenancy in common
✔✔A trust deed is signed by the - ✔✔Trustor
✔✔All of the following can be used in a developers public report except: - ✔✔A
statement which says "the public report is an endorsement of the project"
✔✔Federal fair housing complaints should be filed with: - ✔✔HUD
✔✔Which type of deed is not necessarily evidence of title? - ✔✔Quit claim
✔✔Water rights in Arizona are: - ✔✔First in time, first in right
✔✔Property taxes are $1525, seller pays the first half. Sale closes on November 2nd.
Using a calendar year what is the debt/credit to the buyer/seller? - ✔✔$512.57 debit
seller, credit buyer
✔✔The CAN-SPAM law would apply to unsolicited: - ✔✔emails
✔✔Owner is selling his house for sale by owner, if seller is on the do not call list the
broker may call when: - ✔✔Broker represents the buyer
RATED A+
✔✔Which of the following is required in a dual agency disclosure? - ✔✔A sales person
in a branch office of a company that represents the buyer and an associate company
that represents the seller
✔✔A real estate licensee would like to hold a membership camping license, which of
the following is true? - ✔✔It is lawful to hold both licenses concurrently
✔✔Two people own a property, one passes away. How is title held if the heirs received
no interest in the property? - ✔✔Joint tenancy
✔✔A house rents for $980 per month. Property sold and closes escrow April 15th. What
is the proration of rent at closing? - ✔✔Credit buyer $522.67
✔✔Taxes are $915 per year. Seller paid the first half. COE is on November 16th. What
is the proration using a statutory year? - ✔✔$343 debit seller
✔✔What is paid at close of escrow? - ✔✔Title insurance
✔✔Which of the following would be a covenant in a deed: - ✔✔Quiet enjoyment
✔✔When a minor enters into a real estate contract, the status of the contract is: -
✔✔Voidable by minor
✔✔A deed must be signed by the: - ✔✔Grantor
✔✔If a seller is listing property and selling it himself without paying commission this
means the seller signed an: - ✔✔Exclusive Agency
✔✔Exclusive right to sell is: - ✔✔An executory bilateral contract
✔✔At a mortgage foreclosure sale, if the property is ABANDONED, the period of
redemption is: - ✔✔30 days
✔✔Person named in an insurance policy that receives insurance proceeds if property is
damaged is: - ✔✔Loss payee
✔✔A 3.45 acre lot sells for $.50 per square foot. What is the selling price? - ✔✔$75,141
✔✔When are Arizona property taxes levied? - ✔✔Semi annually
, ✔✔When are real estate taxes levied? - ✔✔Annually
✔✔An option once exercised is considered: - ✔✔unilateral executed
✔✔A broker has what duty to a third-party? - ✔✔Honesty, and to disclose all material
facts
✔✔A defeasance clause in a Deed of Trust allows for: - ✔✔Cancellation of the lender's
claim upon full note payment
✔✔A buyer and seller wish to cancel a contract, who signs the cancellation? - ✔✔Buyer
and seller
✔✔Which of the following is a specific lien regarding real estate? - ✔✔Special
assessment
✔✔On a closing statement the amount of the sales price would be? - ✔✔Debit buyer,
credit seller
✔✔Ownership implies everything except: - ✔✔destruction
✔✔Two sisters want to buy property and leave it to their heirs, they should take title: -
✔✔Tenancy in common
✔✔A trust deed is signed by the - ✔✔Trustor
✔✔All of the following can be used in a developers public report except: - ✔✔A
statement which says "the public report is an endorsement of the project"
✔✔Federal fair housing complaints should be filed with: - ✔✔HUD
✔✔Which type of deed is not necessarily evidence of title? - ✔✔Quit claim
✔✔Water rights in Arizona are: - ✔✔First in time, first in right
✔✔Property taxes are $1525, seller pays the first half. Sale closes on November 2nd.
Using a calendar year what is the debt/credit to the buyer/seller? - ✔✔$512.57 debit
seller, credit buyer
✔✔The CAN-SPAM law would apply to unsolicited: - ✔✔emails
✔✔Owner is selling his house for sale by owner, if seller is on the do not call list the
broker may call when: - ✔✔Broker represents the buyer
