ARIZONA REAL ESTATE CORRECT EXAMS ANSWERS
AND QUESTIONS SET A+
✔✔Time-sharing is associated with which of the following?
a. cooperatives
b. profits
c. joint ventures
d. condominiums - ✔✔d. condominiums
✔✔Fraud is:
a. deception not intended to harm
b. deception intended to harm
c. the same as misrepresentation
d. similar to puffing - ✔✔b. deception intended to harm
✔✔An offer has been accepted on a 10-acre parcel, when the broker learns that the
buyer has been buying up land in the area at a much higher price. The broker should: -
✔✔notify the seller of the facts
✔✔John Jamison, a salesperson with Taylor Realty, lists the property of Charles and
Loretta Simpson for sale at $52,000. The Simpsons have told Jamison that they are
pressed to sell and would accept a purchase price of $49,000. Jamison shows the
property to Randy Evans and tells Evans he can purchase the property for $49,000.
Jamison has: - ✔✔violated his relationship with his client
✔✔In regard to the party that agent is NOT representing, which of the following is
included in the agent's responsibilities:
a. The agent has no responsibilities to the party they are not representing.
b. The agent must give advice and counsel to the party.
c. The agent must disclose material defects about the property
d. The agent must provide complete financial information about the principle. - ✔✔c.
The agent must disclose material defects about the property
, ✔✔A broker purchased her own listing because she knew of a purchaser who would
pay more than the listing price. The broker - ✔✔is liable to the seller for the profit she
made.
✔✔When a boker secures a listing, which of the following actions would NOT require
the owner's approval?
a. assigning the listing to another brokerage firm
b. assigning the listing to another salesperson
c. placing a sign on the property
d. advertising the property for sale - ✔✔b. assigning the listing to another salesperson
✔✔Who may accept commission from an out-of-state broker? - ✔✔the referring broker
✔✔In a subagency, the selling salesperson is responsible to the - ✔✔selling broker
✔✔All listings MUST be in writing according to - ✔✔Arizona statutes
✔✔When a commission dispute arises between two licensees from different companies
their recourse would be to - ✔✔seek relief through civil action
✔✔A broker informed her clients that "there is no need to consult your attorney
concerning this contract. I am authorized by law to handle the necessary forms." The
licensee is acting - ✔✔in violation of the "Rules and Regulation" of the Commissioner
✔✔When an offer is written on a listing property in which you are the cooperating
broker, you may contact the seller directly provided - ✔✔the seller has given written
approval and you have waited 24 hours.
✔✔The term "commingling" means - ✔✔mixing funds held for other persons with one's
own money
✔✔Which of the following MUST be included in an Arizona Real Estate Purchase
Contract?
a. must state the form of earnest money deposit
b. notarized signatures of buyers and seller
c. must state the proportion settlement between buyer and seller
d. must state how title is to be taken - ✔✔a. must state the form of earnest money
deposit
✔✔The forfeiture period on a land contract is - ✔✔a specific statutory period of time
✔✔A blanket mortgage usually contains which of the following?
a. closed-end clause
b. release clause
AND QUESTIONS SET A+
✔✔Time-sharing is associated with which of the following?
a. cooperatives
b. profits
c. joint ventures
d. condominiums - ✔✔d. condominiums
✔✔Fraud is:
a. deception not intended to harm
b. deception intended to harm
c. the same as misrepresentation
d. similar to puffing - ✔✔b. deception intended to harm
✔✔An offer has been accepted on a 10-acre parcel, when the broker learns that the
buyer has been buying up land in the area at a much higher price. The broker should: -
✔✔notify the seller of the facts
✔✔John Jamison, a salesperson with Taylor Realty, lists the property of Charles and
Loretta Simpson for sale at $52,000. The Simpsons have told Jamison that they are
pressed to sell and would accept a purchase price of $49,000. Jamison shows the
property to Randy Evans and tells Evans he can purchase the property for $49,000.
Jamison has: - ✔✔violated his relationship with his client
✔✔In regard to the party that agent is NOT representing, which of the following is
included in the agent's responsibilities:
a. The agent has no responsibilities to the party they are not representing.
b. The agent must give advice and counsel to the party.
c. The agent must disclose material defects about the property
d. The agent must provide complete financial information about the principle. - ✔✔c.
The agent must disclose material defects about the property
, ✔✔A broker purchased her own listing because she knew of a purchaser who would
pay more than the listing price. The broker - ✔✔is liable to the seller for the profit she
made.
✔✔When a boker secures a listing, which of the following actions would NOT require
the owner's approval?
a. assigning the listing to another brokerage firm
b. assigning the listing to another salesperson
c. placing a sign on the property
d. advertising the property for sale - ✔✔b. assigning the listing to another salesperson
✔✔Who may accept commission from an out-of-state broker? - ✔✔the referring broker
✔✔In a subagency, the selling salesperson is responsible to the - ✔✔selling broker
✔✔All listings MUST be in writing according to - ✔✔Arizona statutes
✔✔When a commission dispute arises between two licensees from different companies
their recourse would be to - ✔✔seek relief through civil action
✔✔A broker informed her clients that "there is no need to consult your attorney
concerning this contract. I am authorized by law to handle the necessary forms." The
licensee is acting - ✔✔in violation of the "Rules and Regulation" of the Commissioner
✔✔When an offer is written on a listing property in which you are the cooperating
broker, you may contact the seller directly provided - ✔✔the seller has given written
approval and you have waited 24 hours.
✔✔The term "commingling" means - ✔✔mixing funds held for other persons with one's
own money
✔✔Which of the following MUST be included in an Arizona Real Estate Purchase
Contract?
a. must state the form of earnest money deposit
b. notarized signatures of buyers and seller
c. must state the proportion settlement between buyer and seller
d. must state how title is to be taken - ✔✔a. must state the form of earnest money
deposit
✔✔The forfeiture period on a land contract is - ✔✔a specific statutory period of time
✔✔A blanket mortgage usually contains which of the following?
a. closed-end clause
b. release clause
