ASREB (Arizona specific) Study Questions and
Answers Verified 100% Correct
A broker is required to deposit earnest money In escrow or trust account: - ANSWER By
close of the next business day
The commissioner will deny a public report on a subdivision bc of the subdividers
inability to: - ANSWER Deliver clear title
Who may accept a commission from an out of state broker? - ANSWER The referring
brokerage
If a broker moves or abandons their office and fails to notify the commissioner, their
license will be: - ANSWER Cancelled
A broker receives an oral offer over the phone. The broker should: - ANSWER Present
the oral offer
According to AZ article XXVI a licensee may not: - ANSWER Charge for document
preparation
90 days of Residence is NOT required for: - ANSWER A sales licensee in AZ
A broker cannot charge for: - ANSWER Document preparation
When a brokers license expires: - ANSWER The salespeople must find another broker
, A sales person can only work for: - ANSWER One broker at a time
When a complaint is filed against a licensee, the commissioner must: - ANSWER Conduct
an investigation
When a licensee leaves a broker, the license is: - ANSWER Sent to the real estate
department
When the commissioner receives a written complaint against a licensee: - ANSWER A
hearing will be held before any suspension
These are required to appear on brokers trust account deposit receipt: - ANSWER Name
of principals
Date of deposit
Deposit breakdown and amount
(Name of brokerage not needed)
A host or hostess must be: - ANSWER A licensed real estate agent
You buy unimproved land in a subdivision sight unseen. You have how long to rescind
the contract? - ANSWER 6 months
The AZ real estate commissioner is appointed by the: - ANSWER Governor
The real estate commissioner is responsible for: - ANSWER Formulating rules and
regulations in AZ
Answers Verified 100% Correct
A broker is required to deposit earnest money In escrow or trust account: - ANSWER By
close of the next business day
The commissioner will deny a public report on a subdivision bc of the subdividers
inability to: - ANSWER Deliver clear title
Who may accept a commission from an out of state broker? - ANSWER The referring
brokerage
If a broker moves or abandons their office and fails to notify the commissioner, their
license will be: - ANSWER Cancelled
A broker receives an oral offer over the phone. The broker should: - ANSWER Present
the oral offer
According to AZ article XXVI a licensee may not: - ANSWER Charge for document
preparation
90 days of Residence is NOT required for: - ANSWER A sales licensee in AZ
A broker cannot charge for: - ANSWER Document preparation
When a brokers license expires: - ANSWER The salespeople must find another broker
, A sales person can only work for: - ANSWER One broker at a time
When a complaint is filed against a licensee, the commissioner must: - ANSWER Conduct
an investigation
When a licensee leaves a broker, the license is: - ANSWER Sent to the real estate
department
When the commissioner receives a written complaint against a licensee: - ANSWER A
hearing will be held before any suspension
These are required to appear on brokers trust account deposit receipt: - ANSWER Name
of principals
Date of deposit
Deposit breakdown and amount
(Name of brokerage not needed)
A host or hostess must be: - ANSWER A licensed real estate agent
You buy unimproved land in a subdivision sight unseen. You have how long to rescind
the contract? - ANSWER 6 months
The AZ real estate commissioner is appointed by the: - ANSWER Governor
The real estate commissioner is responsible for: - ANSWER Formulating rules and
regulations in AZ
