ASREB Test exam 2023/2024 with 100% correct answers

Within the Arizona Groundwater Code all of the following rights were created EXCEPT? - correct answer Subdivision grandfather right What is required to give someone the right to sign your name? - correct answer Power of Attorney The buyer has an investment that has a feature of "a pass through certificate" this investment is most likely a: - correct answer Ginnie Mae Security When an occupant holds a long term proprietary lease this is referred to as: - correct answer Co-operative Homeowners insurance on a closing statement will always be: - correct answer Debit to the buyer In a listing of property for sale which item is not necessary for a valid exclusive listing? - correct answer Address of property What type of an estate would a tenant have? - correct answer Leasehold When a brokerage is charged an administrative fine the amount of the fine is up to: - correct answer $1,000 In a listing agreement the seller would be the: - correct answer Employer An auctioneer may only auction real property in the state of Arizona if: a. the property is foreclosure b. the property is owned community property c. the auctioneer is affiliated with a license broker d. the property is owned with rights of survivorship - correct answer c. the auctioneer is affiliated with a license broker In a sale of a mortgage document what is the relationship of the parties? - correct answer assignor to assignee Which of the following is used to establish premiums for flood insurance? - correct answer Elevation certificate A lender charges 2 points at a cost of $2800, the lender will loan 85% of the purchase price. What is the purchase price? - correct answer $164,705 A licensee who has been notified by the Arizona Department of real estate that a complaint has been issued has how many days to respond? - correct answer 14 calendar days A lot is originally purchased for $10,500. It is sold at a 20% loss and then resold with a 10% commission. What was the net loss on the property? - correct answer $2,940 The term "capitali