Real Estate test Arizona #5 Complete with
Questions and Correct Answers.
When action is brought in court to compel a party to carry out the terms of a contract,
this is called:
(a) specific performance
(b) time is of the essence
(c) liquidated damages
(d) voidable - Correct Answer-(a) specific performance
Amortizing a loan over 30 years that is to be paid in seven years is called:
(a) Annuity
(b) Alienation
(c) Level payment
(d) Balloon payment - Correct Answer-(d) Balloon payment
To determine the grounds ability to allow water to seep through it, what type of test is
done?
(a) Compaction
(b) Fissure
(c) Expansive Soil
(d) Percolation - Correct Answer-(d) Percolation
What is the maximum security deposit allowed by the Arizona Landlord Tenant Act?
(a) First and last month's rent plus 1 1/2 months security
(b) 1 1/2 month's rent plus last month
(c) 1 1/2 month's rent
(d) One month rent - Correct Answer-(c) 1 1/2 month's rent
The word friable would most likely apply to which of the following?
(a) Superfund area
(b) Radon Gas
(c) Asbestos
(d) Lead based paint - Correct Answer-(c) Asbestos
Water table is defined as:
(a) Water in relation to sea level
(b) The level at which water will be located
(c) All surface water
(d) When potable water can be found - Correct Answer-(b) The level at which water will
be located
,When a buyer representation fee is paid the money is payable to which of the following:
(a) Escrow
(b) Employing broker
(c) Designated broker
(d) Salesperson - Correct Answer-(b) Employing broker
Who gives the right for a party to act in behalf of another in negotiations?
(a) Buyer
(b) Principal
(c) Broker
(d) Lender - Correct Answer-(b) Principal
A landlord is obligated to account for the tenant's security deposit (within):
(a) Twenty-one days of lease termination
(b) Fourteen business days of lease termination and demand
(c) Immediately upon termination of the tenancy
(d) Ten days after lease termination - Correct Answer-(b) Fourteen business days of
lease termination and demand
When do you file a mechanic's lien:
(a) Beginning of work
(b) Six months after completion
(c) After obtaining a judgment
(d) Completion of work - Correct Answer-(d) Completion of work
When parties agree to a contract this is called mutual assent, this is indicated by:
(a) The notary seal
(b) Acknowledgment
(c) Offer and acceptance
(d) Close of escrow - Correct Answer-(c) Offer and acceptance
When a broker moves their office, the sign must be removed:
(a) Within 30 days
(b) Within 1 year
(c) Within six months
(d) Immediately - Correct Answer-(d) Immediately
When a salesperson leaves a brokerage office where does the license go?
(a) Is given to the salesperson to keep
(b) Remains with the broker
(c) Sent to the Board of Realtors within ten days
(d) Back to the Real Estate Department - Correct Answer-(d) Back to the Real Estate
Department
, The two designations or classifications of water law in Arizona are:
(a) Navigable and non-navigable
(b) Flowing and stagnant
(c) Ground and surface
(d) None of these - Correct Answer-(c) Ground and surface
When you build a home twice the cost of those around you, the more expensive
property is likely to realize:
(a) Economic obsolescence
(b) Plottage obsolescence
(c) Functional obsolescence
(d) Physical obsolescence - Correct Answer-(a) Economic obsolescence
If a husband and wife own community property and the husband dies, who receives the
husband's half?
(a) Wife in all cases
(b) Children 3/4, wife 1/4
(c) 1/2 wife, 1/2 heirs
(d) Heirs - Correct Answer-(d) Heirs
An owner hires a general contractor to add a room and sells the property before paying
for the work. The buyer receives a warranty deed and a standard title owner's policy
from the seller. When the general contractor files a lien, what is true?
(a) The mechanics lien is not valid
(b) The owner's policy would cover the mechanics lien
(c) The mechanics lien is valid against the property
(d) The warranty deed will not permit a mechanics lien after the sale - Correct Answer-
(c) The mechanics lien is valid against the property
Redlining applies to which of the following:
(a) Lenders
(b) Contractors
(c) Appraisers
(d) Inspectors - Correct Answer-(a) Lenders
Ordinarily, first half property taxes are due and payable:
(a) 10/1/2016
(b) 11/1/2016
(c) 3/1/2016
(d) 5/1/2016 - Correct Answer-(a) 10/1/2016
The charges for a Community Facilities District are found on:
(a) Special assessment notification
(b) Property tax bill
(c) Notice of full cash value
(d) HOA dues invoice - Correct Answer-(b) Property tax bill
Questions and Correct Answers.
When action is brought in court to compel a party to carry out the terms of a contract,
this is called:
(a) specific performance
(b) time is of the essence
(c) liquidated damages
(d) voidable - Correct Answer-(a) specific performance
Amortizing a loan over 30 years that is to be paid in seven years is called:
(a) Annuity
(b) Alienation
(c) Level payment
(d) Balloon payment - Correct Answer-(d) Balloon payment
To determine the grounds ability to allow water to seep through it, what type of test is
done?
(a) Compaction
(b) Fissure
(c) Expansive Soil
(d) Percolation - Correct Answer-(d) Percolation
What is the maximum security deposit allowed by the Arizona Landlord Tenant Act?
(a) First and last month's rent plus 1 1/2 months security
(b) 1 1/2 month's rent plus last month
(c) 1 1/2 month's rent
(d) One month rent - Correct Answer-(c) 1 1/2 month's rent
The word friable would most likely apply to which of the following?
(a) Superfund area
(b) Radon Gas
(c) Asbestos
(d) Lead based paint - Correct Answer-(c) Asbestos
Water table is defined as:
(a) Water in relation to sea level
(b) The level at which water will be located
(c) All surface water
(d) When potable water can be found - Correct Answer-(b) The level at which water will
be located
,When a buyer representation fee is paid the money is payable to which of the following:
(a) Escrow
(b) Employing broker
(c) Designated broker
(d) Salesperson - Correct Answer-(b) Employing broker
Who gives the right for a party to act in behalf of another in negotiations?
(a) Buyer
(b) Principal
(c) Broker
(d) Lender - Correct Answer-(b) Principal
A landlord is obligated to account for the tenant's security deposit (within):
(a) Twenty-one days of lease termination
(b) Fourteen business days of lease termination and demand
(c) Immediately upon termination of the tenancy
(d) Ten days after lease termination - Correct Answer-(b) Fourteen business days of
lease termination and demand
When do you file a mechanic's lien:
(a) Beginning of work
(b) Six months after completion
(c) After obtaining a judgment
(d) Completion of work - Correct Answer-(d) Completion of work
When parties agree to a contract this is called mutual assent, this is indicated by:
(a) The notary seal
(b) Acknowledgment
(c) Offer and acceptance
(d) Close of escrow - Correct Answer-(c) Offer and acceptance
When a broker moves their office, the sign must be removed:
(a) Within 30 days
(b) Within 1 year
(c) Within six months
(d) Immediately - Correct Answer-(d) Immediately
When a salesperson leaves a brokerage office where does the license go?
(a) Is given to the salesperson to keep
(b) Remains with the broker
(c) Sent to the Board of Realtors within ten days
(d) Back to the Real Estate Department - Correct Answer-(d) Back to the Real Estate
Department
, The two designations or classifications of water law in Arizona are:
(a) Navigable and non-navigable
(b) Flowing and stagnant
(c) Ground and surface
(d) None of these - Correct Answer-(c) Ground and surface
When you build a home twice the cost of those around you, the more expensive
property is likely to realize:
(a) Economic obsolescence
(b) Plottage obsolescence
(c) Functional obsolescence
(d) Physical obsolescence - Correct Answer-(a) Economic obsolescence
If a husband and wife own community property and the husband dies, who receives the
husband's half?
(a) Wife in all cases
(b) Children 3/4, wife 1/4
(c) 1/2 wife, 1/2 heirs
(d) Heirs - Correct Answer-(d) Heirs
An owner hires a general contractor to add a room and sells the property before paying
for the work. The buyer receives a warranty deed and a standard title owner's policy
from the seller. When the general contractor files a lien, what is true?
(a) The mechanics lien is not valid
(b) The owner's policy would cover the mechanics lien
(c) The mechanics lien is valid against the property
(d) The warranty deed will not permit a mechanics lien after the sale - Correct Answer-
(c) The mechanics lien is valid against the property
Redlining applies to which of the following:
(a) Lenders
(b) Contractors
(c) Appraisers
(d) Inspectors - Correct Answer-(a) Lenders
Ordinarily, first half property taxes are due and payable:
(a) 10/1/2016
(b) 11/1/2016
(c) 3/1/2016
(d) 5/1/2016 - Correct Answer-(a) 10/1/2016
The charges for a Community Facilities District are found on:
(a) Special assessment notification
(b) Property tax bill
(c) Notice of full cash value
(d) HOA dues invoice - Correct Answer-(b) Property tax bill
