AZ STATE REAL ESTATE EXAM GUIDE
QUESTIONS WITH COMPLETE
SOLUTIONS 2025 /2026
A homeowner sold her house and hand net proceeds of $265,000. Her adjusted
basis in the home was $231,000. She immediately bought another house for
$301,000. What was her capital gain? - ANSWER-$34,000
Capital gain = amount realized (net sales proceeds) - adjusted basis
$265,000 - $231,000 = $34,000
An acre is to be divided into four equal lots. If the lots are parallel to each other,
rectangular, and 200 feet deep, the width of each lot would most nearly be? -
ANSWER-55 feet
One acre = 4.,560 square feet
43,560 divided by 200 = 217.80
217.80 divided by 4 = 54.45 feet
55 is nearest
A house sold for $16,350 which amount was 9% more than the cost of the house.
The cost of the house was? - ANSWER-$15,000
Cost (100%) + Profit (9%) = $16,350
109% = $16,350 divided by 109% = $15,000.
After subtracting $140 escrow fees and 6% commission on gross sales price, a seller
receives $13,584. What is the selling price? - ANSWER-$14,600
Selling price(100%) = $13,584 + $140 + 6% 94% = $13,584 + $140 = $13,724.
$13,724 divided by 94% = $14,600.
An owner-occupied, 5 unit dwelling worth $600,000 generates $5,500 in income from
4 units and $200/month from the on-site laundry. If the current owner typically yields
roughly 8% annually on his investment, what is the monthly effective gross amount?
- ANSWER-$5,700
Effective gross amount is $5,500 + $200 (The sum of all income generated)
The Lyons family bought a house with a lot size of .50 of an acre. This is the
equivalent to? - ANSWER-21,780ft
If Broker Christianson brought in an offer of 10% less than the listing price of
$15,300 and the seller would agree to the price if the broker would accept a 20%
, reduction of his commission, the broker's commission would amount to? - ANSWER-
$660.96
$15,300 - $1,530 (10%) = $13,770
$13,770 x 6% = $826.20
80% of $826.20 (20% less) = $660.96 or
$826.20 x .80 = $660.96
*Assuming a 6% commission
A homeowner made a regular monthly payment of $550 on her home loan. Out of
the total payment, the lender deducted the interest that was due for the month and
applied the remaining balance of $43.85 to the principal. If the outstanding balance
of the loan was $56,500, the interest rate on the load was most nearly? - ANSWER-
10.75%
$550 - $43.85 = $506.15 interest for 1st month.
$506.15 x 12 = $6,073.80 per year $6,073.80 divided by $56,500 = 11%
The Pickets are purchasing a home for $78,000 and the lender is giving them 90%
loan at 10% interest, plus a 2% loan origination fee. How much is the loan origination
fee? - ANSWER-$1,404
The Arizona Code of Real Estate is? - ANSWER-Statutory law
The most common deed used for voluntary transfer of title to real property as the
result of a sale in Arizona is? - ANSWER-A warranty deed
In Arizona, which of the following appraisers require the greatest number of
classroom hours and hours of supervised experience for licensure? - ANSWER-The
certified general appraiser
The wording in Arizona warranty deeds reads, "For the amount of $10 or more..."
The $10 referred to is called? - ANSWER-Nominal consideration
What is the primary purpose and function of an Arizona Affidavit of Property value? -
ANSWER-To record the sales date of a conveyance and transfer tax payment
responsibility to the buyer.
In Arizona, all legal land descriptions determined by a government rectangular
survey end with? - ANSWER-G & SRBM
(Stands for Gila and Salt River Baseline Meridian)
Arizona isn't considered a mandatory disclosure state, but which of the following is,
in fact, mandatory disclosure? - ANSWER-When the same licensee or brokerage is
representing both the buyer and seller in a transaction.
An Arizona agency disclosure and election form? - ANSWER-Discloses how a client
will be represented by a brokage.
QUESTIONS WITH COMPLETE
SOLUTIONS 2025 /2026
A homeowner sold her house and hand net proceeds of $265,000. Her adjusted
basis in the home was $231,000. She immediately bought another house for
$301,000. What was her capital gain? - ANSWER-$34,000
Capital gain = amount realized (net sales proceeds) - adjusted basis
$265,000 - $231,000 = $34,000
An acre is to be divided into four equal lots. If the lots are parallel to each other,
rectangular, and 200 feet deep, the width of each lot would most nearly be? -
ANSWER-55 feet
One acre = 4.,560 square feet
43,560 divided by 200 = 217.80
217.80 divided by 4 = 54.45 feet
55 is nearest
A house sold for $16,350 which amount was 9% more than the cost of the house.
The cost of the house was? - ANSWER-$15,000
Cost (100%) + Profit (9%) = $16,350
109% = $16,350 divided by 109% = $15,000.
After subtracting $140 escrow fees and 6% commission on gross sales price, a seller
receives $13,584. What is the selling price? - ANSWER-$14,600
Selling price(100%) = $13,584 + $140 + 6% 94% = $13,584 + $140 = $13,724.
$13,724 divided by 94% = $14,600.
An owner-occupied, 5 unit dwelling worth $600,000 generates $5,500 in income from
4 units and $200/month from the on-site laundry. If the current owner typically yields
roughly 8% annually on his investment, what is the monthly effective gross amount?
- ANSWER-$5,700
Effective gross amount is $5,500 + $200 (The sum of all income generated)
The Lyons family bought a house with a lot size of .50 of an acre. This is the
equivalent to? - ANSWER-21,780ft
If Broker Christianson brought in an offer of 10% less than the listing price of
$15,300 and the seller would agree to the price if the broker would accept a 20%
, reduction of his commission, the broker's commission would amount to? - ANSWER-
$660.96
$15,300 - $1,530 (10%) = $13,770
$13,770 x 6% = $826.20
80% of $826.20 (20% less) = $660.96 or
$826.20 x .80 = $660.96
*Assuming a 6% commission
A homeowner made a regular monthly payment of $550 on her home loan. Out of
the total payment, the lender deducted the interest that was due for the month and
applied the remaining balance of $43.85 to the principal. If the outstanding balance
of the loan was $56,500, the interest rate on the load was most nearly? - ANSWER-
10.75%
$550 - $43.85 = $506.15 interest for 1st month.
$506.15 x 12 = $6,073.80 per year $6,073.80 divided by $56,500 = 11%
The Pickets are purchasing a home for $78,000 and the lender is giving them 90%
loan at 10% interest, plus a 2% loan origination fee. How much is the loan origination
fee? - ANSWER-$1,404
The Arizona Code of Real Estate is? - ANSWER-Statutory law
The most common deed used for voluntary transfer of title to real property as the
result of a sale in Arizona is? - ANSWER-A warranty deed
In Arizona, which of the following appraisers require the greatest number of
classroom hours and hours of supervised experience for licensure? - ANSWER-The
certified general appraiser
The wording in Arizona warranty deeds reads, "For the amount of $10 or more..."
The $10 referred to is called? - ANSWER-Nominal consideration
What is the primary purpose and function of an Arizona Affidavit of Property value? -
ANSWER-To record the sales date of a conveyance and transfer tax payment
responsibility to the buyer.
In Arizona, all legal land descriptions determined by a government rectangular
survey end with? - ANSWER-G & SRBM
(Stands for Gila and Salt River Baseline Meridian)
Arizona isn't considered a mandatory disclosure state, but which of the following is,
in fact, mandatory disclosure? - ANSWER-When the same licensee or brokerage is
representing both the buyer and seller in a transaction.
An Arizona agency disclosure and election form? - ANSWER-Discloses how a client
will be represented by a brokage.
