AZ REAL ESTATE BUNDLED EXAM
COMPREHENSIVE STUDY SHEET 2026 SOLVED
QUESTIONS PREMIUM BUNDLE
◉ Real estate recovery fund is _ per incident and _ tota
Answer: $30k per incident, $90k total
◉ If your plan for unsubdivided land changes, what do you do first?
Answer: notify commissioner
◉ Professional LLC
Answer: business entity, members have limited liability, must be
licensed to only work in licensed field
◉ how many licenses can you hold at a time?
Answer: only 1
◉ what must developers of timeshares provide to prospective
buyers?
Answer: a proposed or approved timeshare of public report to all
prospective buyers & terms of cancellation
,◉ how many years do you have to file a complaint for unsubdivided
land
Answer: 3 years from date of contract execution
◉ how is a timeshare split?
Answer: 52 weeks
◉ when would a lender require a mortgage insurance premium
(MIP)?
Answer: borrower has an FHA mortgage - they require this in case of
borrower default
◉ protecting tenants at foreclosure act
Answer: gives tenants facing eviction sufficient time to relocate
◉ what does the property management proposal include
Answer: details about property managers qualifications, duties to
perform, and reports that they will provide to owners
◉ what does the US department of housing and urban development
(HUD) provide?
Answer: provides funds for section 8 program - funds are dic. to
states and then they are managed at a local level
,◉ how big is a section in a rectangular system?
Answer: 640 acres
◉ AZ Article X
Answer: states that land can only be sold to leased to the highest and
best bidder at a public auction. governs management and disposal of
lands granted to state by federal government "state & school land"
◉ Gramm-Leach-Biley Act of 1999
Answer: protects consumers finance information, privacy, security
◉ how long to licensees have to produce records after an ADRE
request?
Answer: 24 hours
◉ Involuntary Alienation
Answer: eminent domain, condemnation
◉ eminent domain
Answer: Power of a government to take private property for public
use - i.e. to buildi a highway
, ◉ condemnation
Answer: legal process the government uses to exercise eminent
domain
◉ deed
Answer: the official document transferring ownership from seller to
buyer - must be delivered to the buyer in order to effect transfer of
title
◉ covenant of warranty
Answer: assures that the grantor will warrant and defend the title
against the lawful claims of others
◉ general warranty deed
Answer: Deed that offers the most protection in which grantor fully
warrants good clear title to the premises - must be recorded after
closing or else ownership can be challenged
◉ constructive notice
Answer: happens when the deed is recorded
◉ intestate succession
Answer: determines who the heir will be if someone dies without a
will (spouse, kids, etc.)
COMPREHENSIVE STUDY SHEET 2026 SOLVED
QUESTIONS PREMIUM BUNDLE
◉ Real estate recovery fund is _ per incident and _ tota
Answer: $30k per incident, $90k total
◉ If your plan for unsubdivided land changes, what do you do first?
Answer: notify commissioner
◉ Professional LLC
Answer: business entity, members have limited liability, must be
licensed to only work in licensed field
◉ how many licenses can you hold at a time?
Answer: only 1
◉ what must developers of timeshares provide to prospective
buyers?
Answer: a proposed or approved timeshare of public report to all
prospective buyers & terms of cancellation
,◉ how many years do you have to file a complaint for unsubdivided
land
Answer: 3 years from date of contract execution
◉ how is a timeshare split?
Answer: 52 weeks
◉ when would a lender require a mortgage insurance premium
(MIP)?
Answer: borrower has an FHA mortgage - they require this in case of
borrower default
◉ protecting tenants at foreclosure act
Answer: gives tenants facing eviction sufficient time to relocate
◉ what does the property management proposal include
Answer: details about property managers qualifications, duties to
perform, and reports that they will provide to owners
◉ what does the US department of housing and urban development
(HUD) provide?
Answer: provides funds for section 8 program - funds are dic. to
states and then they are managed at a local level
,◉ how big is a section in a rectangular system?
Answer: 640 acres
◉ AZ Article X
Answer: states that land can only be sold to leased to the highest and
best bidder at a public auction. governs management and disposal of
lands granted to state by federal government "state & school land"
◉ Gramm-Leach-Biley Act of 1999
Answer: protects consumers finance information, privacy, security
◉ how long to licensees have to produce records after an ADRE
request?
Answer: 24 hours
◉ Involuntary Alienation
Answer: eminent domain, condemnation
◉ eminent domain
Answer: Power of a government to take private property for public
use - i.e. to buildi a highway
, ◉ condemnation
Answer: legal process the government uses to exercise eminent
domain
◉ deed
Answer: the official document transferring ownership from seller to
buyer - must be delivered to the buyer in order to effect transfer of
title
◉ covenant of warranty
Answer: assures that the grantor will warrant and defend the title
against the lawful claims of others
◉ general warranty deed
Answer: Deed that offers the most protection in which grantor fully
warrants good clear title to the premises - must be recorded after
closing or else ownership can be challenged
◉ constructive notice
Answer: happens when the deed is recorded
◉ intestate succession
Answer: determines who the heir will be if someone dies without a
will (spouse, kids, etc.)
