ARIZONA REAL ESTATE EXAM LATEST 2025 ACTUAL
EXAM| COMPLETE 350 ACCURATE QUESTIONS AND
VERIFIED ANSWERS (100% CORRECT ANSWERS)
ALREADY GRADED A+
A broker-Principal relationship is best described as: - ANSWER - Fiduciary
seller hires a broker; the broker makes decisions for the seller without
authority and without notifying the seller. the broker is acting in which of the
following types of agencies? - ANSWER - Ostensible
Which type of listing would be considered more unilateral than bilateral? -
ANSWER - An open listing
It is said that agency law is comprised of common law. this means: -
ANSWER - It is established by tradition and court decisions.
In an agency relationship confidentiality is a part of what? - ANSWER -
Loyalty
a buyer asks the real estate agent if the property is located in a good area.
the agent is aware that the property is located in the highest crime area in
the city. the agent tells the buyer the property is located in a great area. this
would be considered: - ANSWER - Negligent Misrepresentation
pg. 1
,a listing broker owes the principal care, obedience, - ANSWER -
accountability, loyalty, and disclosure
most states discourage net listings because: - ANSWER - incentive for the
broker not to present the offer
a puffing statement would be considered legal or illegal? - ANSWER - legal.
an open listing between a seller and broker would be considered: -
ANSWER - a unilateral contract
to ensure being paid a commission on an open listing the broker must: -
ANSWER - have a signed listing contract
the key factor on an exclusive right to sell listing is - ANSWER - the broker
is paid no matter who sells the property
a broker has a listing and the seller doesn't want the broker to disclose to
the buyers that the seller is going through a divorce. what should the broker
do? - ANSWER - keep the information confidential
an agent is getting ready to list a property that the agent is interested in
buying. what should the agent do? - ANSWER - Tell the seller because it
could affect the price the seller will accept.
an option to purchase is what type of contract? - ANSWER - Unilateral
when a party breaches a contract, they could be responsible for: -
ANSWER - Specific performance
pg. 2
,When a buyer signs a contract what type of title would he most likely have?
- ANSWER - equitable
a contract does not have a legal description. the contract would be: -
ANSWER - unenforceable
a buyer wishes to have the right to buy a property at a certain time and
certain price. this is called" - ANSWER - option to buy
a broker is a property manager for an owner and collects the monthly rents.
the owner dies. what is the status of the property management agreement?
- ANSWER - Terminated upon the death of the owner.
when the buyer and seller agree to terminate the contract, this is called: -
ANSWER - Rescission
When a minor enters into a real estate contract, the status of the contract
is: - ANSWER - voidable by the minor only
a person wants to buy a property in the future, but also wants the right to
reject the offer. this is called: - ANSWER - First Right of Refusal
Two parties enter into an oral agreement to sell real estate, if the
agreement is breached the recourse is: - ANSWER - There is no legal
course of action.
an option once exercised is considered: - ANSWER - unilateral executed
pg. 3
, when a counter offer is made, which of the following is true? - ANSWER -
buyer and seller would initial the changes
What is the difference between an option and a purchase contract -
ANSWER - option does not have to be consummated
if there is a contract dispute, what would take precedence? - ANSWER -
handwritten words
a buyer enters into an agreement that gives him the opportunity to buy but
not the obligation. the buyer has entered into a(n) - ANSWER - option
a buyer and a seller wish to cancel a contract. who must sign the
cancellation? - ANSWER - the buyer and seller
a contract that has been accepted but not closed escrow is referred to as: -
ANSWER - Executory
a salesperson was presenting the buyer's offer to the seller, and at the
same time the buyer calls the salesperson to cancel his offer. what is the
status of the buyer's offer? - ANSWER - the offer is void
a buyer and seller enter into a sales contract in which the broker was the
procuring cause. before the close of escrow, the buyer and seller agree to
mutually cancel the contract. what is the status of the broker's commission?
- ANSWER - The broker would be paid a commission
what would hold up in court for a breach of a purchase contract if the
broker were to sue for a commission? - ANSWER - Listing agreement,
terms, and conditions of sale
pg. 4
EXAM| COMPLETE 350 ACCURATE QUESTIONS AND
VERIFIED ANSWERS (100% CORRECT ANSWERS)
ALREADY GRADED A+
A broker-Principal relationship is best described as: - ANSWER - Fiduciary
seller hires a broker; the broker makes decisions for the seller without
authority and without notifying the seller. the broker is acting in which of the
following types of agencies? - ANSWER - Ostensible
Which type of listing would be considered more unilateral than bilateral? -
ANSWER - An open listing
It is said that agency law is comprised of common law. this means: -
ANSWER - It is established by tradition and court decisions.
In an agency relationship confidentiality is a part of what? - ANSWER -
Loyalty
a buyer asks the real estate agent if the property is located in a good area.
the agent is aware that the property is located in the highest crime area in
the city. the agent tells the buyer the property is located in a great area. this
would be considered: - ANSWER - Negligent Misrepresentation
pg. 1
,a listing broker owes the principal care, obedience, - ANSWER -
accountability, loyalty, and disclosure
most states discourage net listings because: - ANSWER - incentive for the
broker not to present the offer
a puffing statement would be considered legal or illegal? - ANSWER - legal.
an open listing between a seller and broker would be considered: -
ANSWER - a unilateral contract
to ensure being paid a commission on an open listing the broker must: -
ANSWER - have a signed listing contract
the key factor on an exclusive right to sell listing is - ANSWER - the broker
is paid no matter who sells the property
a broker has a listing and the seller doesn't want the broker to disclose to
the buyers that the seller is going through a divorce. what should the broker
do? - ANSWER - keep the information confidential
an agent is getting ready to list a property that the agent is interested in
buying. what should the agent do? - ANSWER - Tell the seller because it
could affect the price the seller will accept.
an option to purchase is what type of contract? - ANSWER - Unilateral
when a party breaches a contract, they could be responsible for: -
ANSWER - Specific performance
pg. 2
,When a buyer signs a contract what type of title would he most likely have?
- ANSWER - equitable
a contract does not have a legal description. the contract would be: -
ANSWER - unenforceable
a buyer wishes to have the right to buy a property at a certain time and
certain price. this is called" - ANSWER - option to buy
a broker is a property manager for an owner and collects the monthly rents.
the owner dies. what is the status of the property management agreement?
- ANSWER - Terminated upon the death of the owner.
when the buyer and seller agree to terminate the contract, this is called: -
ANSWER - Rescission
When a minor enters into a real estate contract, the status of the contract
is: - ANSWER - voidable by the minor only
a person wants to buy a property in the future, but also wants the right to
reject the offer. this is called: - ANSWER - First Right of Refusal
Two parties enter into an oral agreement to sell real estate, if the
agreement is breached the recourse is: - ANSWER - There is no legal
course of action.
an option once exercised is considered: - ANSWER - unilateral executed
pg. 3
, when a counter offer is made, which of the following is true? - ANSWER -
buyer and seller would initial the changes
What is the difference between an option and a purchase contract -
ANSWER - option does not have to be consummated
if there is a contract dispute, what would take precedence? - ANSWER -
handwritten words
a buyer enters into an agreement that gives him the opportunity to buy but
not the obligation. the buyer has entered into a(n) - ANSWER - option
a buyer and a seller wish to cancel a contract. who must sign the
cancellation? - ANSWER - the buyer and seller
a contract that has been accepted but not closed escrow is referred to as: -
ANSWER - Executory
a salesperson was presenting the buyer's offer to the seller, and at the
same time the buyer calls the salesperson to cancel his offer. what is the
status of the buyer's offer? - ANSWER - the offer is void
a buyer and seller enter into a sales contract in which the broker was the
procuring cause. before the close of escrow, the buyer and seller agree to
mutually cancel the contract. what is the status of the broker's commission?
- ANSWER - The broker would be paid a commission
what would hold up in court for a breach of a purchase contract if the
broker were to sue for a commission? - ANSWER - Listing agreement,
terms, and conditions of sale
pg. 4
