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ASREB School and State Test Review Questions and Answers 100% Pass

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ASREB School and State Test Review Questions and Answers 100% Pass How are AZ property taxes charged? - Ad Valorem What does Ad Valorem mean? - Assessed Value How are Arizona Property Taxes paid? - Levied once, Paid Twice When are AZ property Taxes Due? and Delinquent? - Oct-Nov and March-May (O No More Money) Who do you pay the property taxes to? - County Treasurer What is the penalty for AZ Property Tax Delinquency? - 16% Property Tax Assessment Ratio Residential? - 10% Property Tax Assessment Ratio Land? - 16% Property Tax Commercial/Industrial? - 19% Inchoate? - Lein not yet Complete Are Mechanics Liens loans? - NO 2100% Pass Guarantee Olivia West, All Rights Reserved © 2025 Mechanics Leins must be what to be valid? - Recorded How Many Days must you file a Mechanics "pre lien" notice? - within 20 Days of Beginning What does "CoW" stand for? - Completion of work How man days from "Cow" to Record a Mechanics lien? - 120 How many days from recordation of Mechanics lien to file a law suit? - 180 What does "homestead" do? and how much? - $150,000 homeowner equity against involuntary liens (judgements) Must a house be a primary residence to be a Homestead? - Yes A Homestead cannot have? - non-natural entities What does a Homestead not protect against? - Voluntary Liens What does the Landlord Tenant Act Do? - Regulates relationship between landlord and tenant Does the Landlord Tenant Act regulate relationships for property management? - NO What is the Max security deposit? - 1.5x rent

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ASREB School and State Test Review
Questions and Answers 100% Pass


How are AZ property taxes charged? - ✔✔Ad Valorem


What does Ad Valorem mean? - ✔✔Assessed Value


How are Arizona Property Taxes paid? - ✔✔Levied once, Paid Twice


When are AZ property Taxes Due? and Delinquent? - ✔✔Oct-Nov and March-May (O

No More Money)


Who do you pay the property taxes to? - ✔✔County Treasurer


What is the penalty for AZ Property Tax Delinquency? - ✔✔16%


Property Tax Assessment Ratio Residential? - ✔✔10%


Property Tax Assessment Ratio Land? - ✔✔16%


Property Tax Commercial/Industrial? - ✔✔19%


Inchoate? - ✔✔Lein not yet Complete


Are Mechanics Liens loans? - ✔✔NO




100% Pass Guarantee Olivia West, All Rights Reserved © 2025 1

, Mechanics Leins must be what to be valid? - ✔✔Recorded


How Many Days must you file a Mechanics "pre lien" notice? - ✔✔within 20 Days of

Beginning


What does "CoW" stand for? - ✔✔Completion of work


How man days from "Cow" to Record a Mechanics lien? - ✔✔120


How many days from recordation of Mechanics lien to file a law suit? - ✔✔180


What does "homestead" do? and how much? - ✔✔$150,000 homeowner equity against

involuntary liens (judgements)


Must a house be a primary residence to be a Homestead? - ✔✔Yes


A Homestead cannot have? - ✔✔non-natural entities


What does a Homestead not protect against? - ✔✔Voluntary Liens


What does the Landlord Tenant Act Do? - ✔✔Regulates relationship between landlord

and tenant


Does the Landlord Tenant Act regulate relationships for property management? -

✔✔NO


What is the Max security deposit? - ✔✔1.5x rent




100% Pass Guarantee Olivia West, All Rights Reserved © 2025 2

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