ARIZONA REAL ESTATE CORE TIPS ANSWERS AND
QUESTIONS SET A+
✔✔Standard coverage in a title insurance policy does NOT insure against:
a. forged documents
b. incompetent grantor
c. questions of survey
d. improperly delivered deed - ✔✔c. questions of survey
✔✔Which of the following contracts does NOT have to be in writing to be enforceable?
a. promise to pay a debt to another
b. 1-year lease starting immediately
c. 6-month lease starting in 7 months
d. contract for sale of real property valued at less than $500 - ✔✔b. 1-year lease
starting immediately
✔✔Regarding a lease assignment, the:
a. assignee becomes primarily liable under the lease and the aligner is released
b. assignor remains primarily liable under the lease
c. assignee becomes primarily liable under the lease and the assignor retains
secondary liability
d. assignee is liable only to the assignor and the assignor is liable to the lessor - ✔✔c.
assignee becomes primarily liable under the lease and the assignor retains secondary
liability
✔✔A situation in which the grantor becomes the lessee of the grantee is known as:
a. sublease
b. assignment
c. estate in reversion
d. sale and leaseback - ✔✔d. sale and leaseback
✔✔Clara leases a building and installs shelves, cabinets, a refrigerator, and other
articles for use in the business. Therefore:
a. Carla can remove the equipment installed before her lease expires.
,b. Carla must leave them for landlord's benefit.
c. Carla can remove them at any time.
d. The landlord must pay Carla for any articles left. - ✔✔a. Carla can remove the
equipment installed before her lease expires.
✔✔What is the purpose of the management agreement?
a. to define the scope of the responsibilities and authorities of the manager
b. to create an opportunity for the manager to earn additional income through
solicitation and acceptance of gratuities from suppliers of goods and services
c. to hire the manager to find a buyer for the property
d. to delegate to the manager the authority to purchase adjacent properties - ✔✔a. to
define the scope of the responsibilities and authorities of the manager
✔✔The maximum amount of money that may be paid for any one licensee from the
Recovery Fund is: - ✔✔$90,000
✔✔By June 30, the Real Estate Recovery Fund MUST maintain a balance of: -
✔✔$600,000
✔✔The real estate Commissioner is appointed by the: - ✔✔governor
✔✔The primary purpose of real estate licensing is to: - ✔✔protect the people
✔✔The following would require a real estate license:
a. a developer selling more than ten homes
b. an attorney in fact selling property for a principal
c. a trustee selling under a court order
d. an attorney at law taking a listing - ✔✔d. an attorney at law taking a listing
✔✔A broker loses his license. The broker's salespeople can:
a. close all transactions as soon as possible
b. activate their licensees with other brokers
c. wait to see if their broker gets his license reinstated
d. continue to operate as before because it wasn't their fault the broker lost his license -
✔✔b. activate their licensees with other brokers
✔✔A broker offers to prepare documents for a real estate transaction at a fee of $35.
Which of the following is TRUE?
a. She cannot charge for the service.
b. She may charge if the parties agree.
c. She may charge if it is considered an escrow fee.
d. She may charge if the fee was negotiated. - ✔✔a. She cannot charge for the service.
, ✔✔The earnest money given with an offer to purchase and held in the broker's trust
account is said to belong to: - ✔✔buyer
✔✔Licensed real estate brokers are given authority to draw those documents necessary
in the course of their work by: - ✔✔the Arizona Constitution
✔✔The following is NOT required for a real estate salesperson license in Arizona:
a. 90 hours of education
b. 90 days of residence in Arizona
c. pass an examination
d. minimum age - ✔✔b. 90 days of residence in Arizona
✔✔In Arizona, the law provides that if not specified, a married couple will hold property
as - ✔✔community property
✔✔A person dies intestate leaving behind a mother, a brother, a sister, a son, and
granddaughter who is the daughter of the deceased individual. Who will receive the
estate? - ✔✔the son and granddaughter
✔✔An easement in gross:
a. is attached to person, not a property
b. is always a negative easement
c. must have a definite termination date
d. is an appurtenant easement - ✔✔a. is attached to person, not a property
✔✔One's ownership interest in a condominium is distinguishable from other types of
real estate by a(n): - ✔✔undivided interest in common area
✔✔In Arizona, property owned before marriage is sole and separate. Property acquired
after marriage would be considered - ✔✔community property
✔✔Which of the following statements is true regarding cooperative ownership:
a. a deed is issued to each unit
b. owner has a long-term proprietary lease
c. each unit has a separate note and deed to trust
d. the owner is a joint tenant with the other occupants - ✔✔b. owner has a long-term
proprietary lease
✔✔If a husband and wife own community property and the husband dies, who receives
the husband's behalf? - ✔✔heirs
✔✔A recorded easement places on the property - ✔✔an encumbrance
QUESTIONS SET A+
✔✔Standard coverage in a title insurance policy does NOT insure against:
a. forged documents
b. incompetent grantor
c. questions of survey
d. improperly delivered deed - ✔✔c. questions of survey
✔✔Which of the following contracts does NOT have to be in writing to be enforceable?
a. promise to pay a debt to another
b. 1-year lease starting immediately
c. 6-month lease starting in 7 months
d. contract for sale of real property valued at less than $500 - ✔✔b. 1-year lease
starting immediately
✔✔Regarding a lease assignment, the:
a. assignee becomes primarily liable under the lease and the aligner is released
b. assignor remains primarily liable under the lease
c. assignee becomes primarily liable under the lease and the assignor retains
secondary liability
d. assignee is liable only to the assignor and the assignor is liable to the lessor - ✔✔c.
assignee becomes primarily liable under the lease and the assignor retains secondary
liability
✔✔A situation in which the grantor becomes the lessee of the grantee is known as:
a. sublease
b. assignment
c. estate in reversion
d. sale and leaseback - ✔✔d. sale and leaseback
✔✔Clara leases a building and installs shelves, cabinets, a refrigerator, and other
articles for use in the business. Therefore:
a. Carla can remove the equipment installed before her lease expires.
,b. Carla must leave them for landlord's benefit.
c. Carla can remove them at any time.
d. The landlord must pay Carla for any articles left. - ✔✔a. Carla can remove the
equipment installed before her lease expires.
✔✔What is the purpose of the management agreement?
a. to define the scope of the responsibilities and authorities of the manager
b. to create an opportunity for the manager to earn additional income through
solicitation and acceptance of gratuities from suppliers of goods and services
c. to hire the manager to find a buyer for the property
d. to delegate to the manager the authority to purchase adjacent properties - ✔✔a. to
define the scope of the responsibilities and authorities of the manager
✔✔The maximum amount of money that may be paid for any one licensee from the
Recovery Fund is: - ✔✔$90,000
✔✔By June 30, the Real Estate Recovery Fund MUST maintain a balance of: -
✔✔$600,000
✔✔The real estate Commissioner is appointed by the: - ✔✔governor
✔✔The primary purpose of real estate licensing is to: - ✔✔protect the people
✔✔The following would require a real estate license:
a. a developer selling more than ten homes
b. an attorney in fact selling property for a principal
c. a trustee selling under a court order
d. an attorney at law taking a listing - ✔✔d. an attorney at law taking a listing
✔✔A broker loses his license. The broker's salespeople can:
a. close all transactions as soon as possible
b. activate their licensees with other brokers
c. wait to see if their broker gets his license reinstated
d. continue to operate as before because it wasn't their fault the broker lost his license -
✔✔b. activate their licensees with other brokers
✔✔A broker offers to prepare documents for a real estate transaction at a fee of $35.
Which of the following is TRUE?
a. She cannot charge for the service.
b. She may charge if the parties agree.
c. She may charge if it is considered an escrow fee.
d. She may charge if the fee was negotiated. - ✔✔a. She cannot charge for the service.
, ✔✔The earnest money given with an offer to purchase and held in the broker's trust
account is said to belong to: - ✔✔buyer
✔✔Licensed real estate brokers are given authority to draw those documents necessary
in the course of their work by: - ✔✔the Arizona Constitution
✔✔The following is NOT required for a real estate salesperson license in Arizona:
a. 90 hours of education
b. 90 days of residence in Arizona
c. pass an examination
d. minimum age - ✔✔b. 90 days of residence in Arizona
✔✔In Arizona, the law provides that if not specified, a married couple will hold property
as - ✔✔community property
✔✔A person dies intestate leaving behind a mother, a brother, a sister, a son, and
granddaughter who is the daughter of the deceased individual. Who will receive the
estate? - ✔✔the son and granddaughter
✔✔An easement in gross:
a. is attached to person, not a property
b. is always a negative easement
c. must have a definite termination date
d. is an appurtenant easement - ✔✔a. is attached to person, not a property
✔✔One's ownership interest in a condominium is distinguishable from other types of
real estate by a(n): - ✔✔undivided interest in common area
✔✔In Arizona, property owned before marriage is sole and separate. Property acquired
after marriage would be considered - ✔✔community property
✔✔Which of the following statements is true regarding cooperative ownership:
a. a deed is issued to each unit
b. owner has a long-term proprietary lease
c. each unit has a separate note and deed to trust
d. the owner is a joint tenant with the other occupants - ✔✔b. owner has a long-term
proprietary lease
✔✔If a husband and wife own community property and the husband dies, who receives
the husband's behalf? - ✔✔heirs
✔✔A recorded easement places on the property - ✔✔an encumbrance
