AR Real Estate License Exam Practice Questions and Answers

A farmer owns the W 120f the NW 14 of the NW 14 of a section. The adoining property can be purchased for $2,300 per acre. Owning all of the NW 14 of the section would cost the farmer $322,000 What must a home inspector do to comply with the requirements of the Arkansas Home hspector Registration Board? Annually complete 14 hours of continuing education On the closing statement of a typical real estate transaction, prepaid homeowner's association fees are debit to the buyer, credit to the seller How many acres are in the property described as follows: the NW14 of the SW 14 of the NE% of Section 16? 10 Arkansas, which ofthe following facts is considered non-material in a residential purchase transaction? A suicide was committed on the property. A registered sex offender lives in the community. Someone died on the property. All of these. All of these If a residence is valued at $87,500 and its assessment ratio is 50% of market value, what are the annual taxes if the tax rate is $7.80 per $100 of assessed valuation? $3,412.50 A real estate licensee may place a For Sale sign on property only if the licensee has the property owner's permission. What is the source of all zoning regulations in Arkansas? The cities and municipalities In Arkansas blind ads are illegal A prospective homebuyer with four children inquiries about a listing in an area of predominately single and married couples without children. What should the broker say to this prospect? "I'll be pleased to show you houses in any area that you're interested in"