ASREB State Test A-1 Questions and Answers Already Passed

ASREB State Test A-1 Questions and Answers Already Passed A buyer is obtaining a new loan to purchase property. The buyer is most likely to accept title with which of the following liens remaining unpaid as of close of escrow? Property taxes for the current year for the property being sold Back taxes on the property being sold Seller's note and deed of trust against the property being sold IRS lien against the seller Property taxes for the current year for the property being sold Ad valorem would apply to which of the following? Income tax Rent Property taxes Net income Property Taxes Arizona property taxes are based on: Pro rata share Assessed value Front Footage Transfer value Assessed Value At the end of the three-year tax redemption period, a person who holds the certificate of purchase: Must foreclose May extend the period Will automatically obtain title The period is automatically extended May extend the period If a property is not bid at a tax lien sale: The excess rebate goes to the property owner Anyone can later buy the tax lien from the Treasurer All other liens are terminated The property can only be sold next February Anyone can later buy the tax lien from the Treasurer In Arizona real estate taxes are levied: Twice a year Once a year Every five years Quarterly Once a year In Arizona, property taxes are payable: Twice a year 90 days after bill received January 1st of every year On the fiscal year Twice a year Of the following liens: delinquent taxes since 2004,