ARIZONA REAL ESTATE BUNDLED EXAMS
ACTUAL EXAM SCRIPT COMPLETE
QUESTIONS AND VERIFIED SOLUTIONS
◉ When conducting an appraisal of lease value, how does the
appraiser divide the appraised value? Answer: t's divided according
to the parties' interests as attributed in the lease.
◉ The local planning and zoning commission is reviewing multiple
applications at this week's meeting. Which of the following new
developments is likely to be reviewed relative to a mixed-use zoning
ordinance? Answer: A high rise with residential, retail, and
entertainment space
◉ Jessica's license expired two months ago, and she is working to
complete her continuing education requirements while she juggles
working with her clients on behalf of her employing broker. Is
Jessica working within Arizona's standards of conduct for real estate
licensees? Answer: No, her license expired, and she cannot engage in
real estate activities without an active license.
◉ Jonathon is setting up a lottery to promote his timeshares. What
must he do first before moving forward with his promotion?
Answer: Submit an exception request to the Department of Real
Estate.
,◉ The market value of your client's property is $280,000. Taxes in
the area are assessed at 60% of market value. Your client's semi-
annual tax bill was $1,461. What's the tax rate per 100? Answer:
$1.74
◉ Which of the following would require a licensee to notify the
Arizona Department of Real Estate? Answer: Adverse judgment
involving fraud
◉ Over how many years is a commercial property depreciated?
Answer: 39 years
◉ How are sections and townships related to one another, relative to
the rectangular government survey system? Answer:
◉ How are sections and townships related to one another, relative to
the rectangular government survey system? Answer: Townships are
divided into sections.
◉ When the listing agreement's purpose has been fulfilled, what
happens to the agency agreement? Answer: The agency agreement
terminates by completion.
,◉ Which of these actions would NOT help a real estate licensee who
wants to specialize in sales of distressed properties? Answer:
Become licensed as an auctioneer.
◉ Which of the following involves the transfer of the lease contract
from the current tenant to another person? Answer: Assignment
◉ Assuming licensee Shannon has actual knowledge of all of the
following property issues, which of these issues should she disclose
to prospective buyers? Answer: The upstairs bathroom has a leaky
toilet.
◉ ______ is an acronym that can help you remember an agent's
fiduciary duties. Answer: OLD CAR
◉ Which of the following are included in the transfer of real
property unless specifically excluded in writing? Answer: Fixtures
◉ Trinity has applied for a home equity line of credit to perform
some upgrades on her home. Within what timeframe must her
lender provide the Closing Disclosure? Answer: The Closing
Disclosure isn't required for a HELOC.
, ◉ How is the grid that's used in the rectangular survey system laid
out? Answer: The numbers start in the northeastern corner and
follow a zigzag pattern.
◉ The ADEQ administers and enforces ______. Answer: Both federal
and state law
◉ California licensed real estate agent Darshna is representing her
California buyer in his home search in Phoenix. Arizona broker Ted
must have a ______ with Darshna in order for the two to work
together in a transaction. Answer: Cooperating Broker Agreement
An Arizona broker must have a cooperation agreement in place with
an out-of-state broker in order for the out-of-state broker to
participate in a real estate transaction in Arizona.
◉ When pricing a property, which of the following is a reason a
licensee would consider expired listings? Answer: To determine the
price at which a property won't sell
◉ Homeowner Ron can no longer make his mortgage payments.
Rather than face foreclosure, he decides to cut his losses. He
voluntarily conveys his property to his lender. What type of
foreclosure alternative is this? Answer: Deed in lieu of foreclosure
ACTUAL EXAM SCRIPT COMPLETE
QUESTIONS AND VERIFIED SOLUTIONS
◉ When conducting an appraisal of lease value, how does the
appraiser divide the appraised value? Answer: t's divided according
to the parties' interests as attributed in the lease.
◉ The local planning and zoning commission is reviewing multiple
applications at this week's meeting. Which of the following new
developments is likely to be reviewed relative to a mixed-use zoning
ordinance? Answer: A high rise with residential, retail, and
entertainment space
◉ Jessica's license expired two months ago, and she is working to
complete her continuing education requirements while she juggles
working with her clients on behalf of her employing broker. Is
Jessica working within Arizona's standards of conduct for real estate
licensees? Answer: No, her license expired, and she cannot engage in
real estate activities without an active license.
◉ Jonathon is setting up a lottery to promote his timeshares. What
must he do first before moving forward with his promotion?
Answer: Submit an exception request to the Department of Real
Estate.
,◉ The market value of your client's property is $280,000. Taxes in
the area are assessed at 60% of market value. Your client's semi-
annual tax bill was $1,461. What's the tax rate per 100? Answer:
$1.74
◉ Which of the following would require a licensee to notify the
Arizona Department of Real Estate? Answer: Adverse judgment
involving fraud
◉ Over how many years is a commercial property depreciated?
Answer: 39 years
◉ How are sections and townships related to one another, relative to
the rectangular government survey system? Answer:
◉ How are sections and townships related to one another, relative to
the rectangular government survey system? Answer: Townships are
divided into sections.
◉ When the listing agreement's purpose has been fulfilled, what
happens to the agency agreement? Answer: The agency agreement
terminates by completion.
,◉ Which of these actions would NOT help a real estate licensee who
wants to specialize in sales of distressed properties? Answer:
Become licensed as an auctioneer.
◉ Which of the following involves the transfer of the lease contract
from the current tenant to another person? Answer: Assignment
◉ Assuming licensee Shannon has actual knowledge of all of the
following property issues, which of these issues should she disclose
to prospective buyers? Answer: The upstairs bathroom has a leaky
toilet.
◉ ______ is an acronym that can help you remember an agent's
fiduciary duties. Answer: OLD CAR
◉ Which of the following are included in the transfer of real
property unless specifically excluded in writing? Answer: Fixtures
◉ Trinity has applied for a home equity line of credit to perform
some upgrades on her home. Within what timeframe must her
lender provide the Closing Disclosure? Answer: The Closing
Disclosure isn't required for a HELOC.
, ◉ How is the grid that's used in the rectangular survey system laid
out? Answer: The numbers start in the northeastern corner and
follow a zigzag pattern.
◉ The ADEQ administers and enforces ______. Answer: Both federal
and state law
◉ California licensed real estate agent Darshna is representing her
California buyer in his home search in Phoenix. Arizona broker Ted
must have a ______ with Darshna in order for the two to work
together in a transaction. Answer: Cooperating Broker Agreement
An Arizona broker must have a cooperation agreement in place with
an out-of-state broker in order for the out-of-state broker to
participate in a real estate transaction in Arizona.
◉ When pricing a property, which of the following is a reason a
licensee would consider expired listings? Answer: To determine the
price at which a property won't sell
◉ Homeowner Ron can no longer make his mortgage payments.
Rather than face foreclosure, he decides to cut his losses. He
voluntarily conveys his property to his lender. What type of
foreclosure alternative is this? Answer: Deed in lieu of foreclosure
