Arizona Real Estate Exam 2025–2026 | Complete Study Guide & Practice
Questions
The seller is a seller carry-
Vendor
back financing
The buyer is a seller carry
Vendee
back financing
Paying the seller back - not
Seller carry back financing
a loan from a bank
Agreement for sale also
Land contract
know as a
1 document no separate
Agreement for sale
note
O-20% = 30 day foreclo-
sure
20-30% = 60 day foreclo-
Agreement for sale fore- sure
closure timelines 30-50% = 120 day foreclo-
sure
50%+ = 270 day foreclo-
sure
Incohate Incomplete
Mechanics Lien (type) Specific Lien
Mechanics Lien (timeline)
, Arizona Real Estate Exam 2025–2026 | Complete Study Guide & Practice
Questions
20 day - pre Lien notice
120 day - from completion
to file
180 day- from beginning to
file lawsuit
If u do not file in 180 day in
Laches - waited too long
Residential - only the gen-
eral can file
Commercial - any of the
contractors can file
Needs to be $600,000
Real Estate Recovery
in recovery fund by June
Fund balance
30th
Agent - $10 fee
Broker - $20 fee
Recovery Fee Fees If it falls below the year that
you renew you pay the fee
again
Each agent is protected for
$90,000
$30,000 can be paid per
Recovery Fund Protection
transaction
Once $1 is paid out of the
fund on your behalf your li-
, Arizona Real Estate Exam
Study online at https://quizlet.com/_51igkk
cense is terminated - if you
pay everything back plus
10% your license can be
denied for reinstatement
for 5 years
What is your Client/Princi-
Fiduciary responsibility
ple due?
What is the Customer Truth, Honesty and Disclo-
Due? sure
The person who gives au-
thority to an agent - there-
Principle
by creating a fiduciary rela-
tionship
Someone who is repre-
Client
sented by an agent
A party to a transaction
Customer
who is not a principle
Confidentiality = Loyalty
An agent who does many
different things for a client
General agent - represents client in all RE
matters - a property man-
ager - an agent to a broker
Special or Specific agent
, Arizona Real Estate Exam
Study online at https://quizlet.com/_51igkk
An agent representing one
special thing.
Power of attorney (power)
Universal agent
Attorney in fact (person)
An option or First right of
Unilateral Contract
refusal
Unilateral listing, whoev-
er brings the buyer wins,
uses many different bro-
Open contract kers, procuring cause-you
are the reason for the sale.
Least protection for the
broker
You're out. Seller can sell
Exclusive agency themselves and not pay a
commission.
Most protection. Shut up-
Exclusive right to sell pay me, paid no matter
what
Legal, binding, enforce-
able, good, death of party,
Valid
brokers fails to initial in ten
days
Void
Questions
The seller is a seller carry-
Vendor
back financing
The buyer is a seller carry
Vendee
back financing
Paying the seller back - not
Seller carry back financing
a loan from a bank
Agreement for sale also
Land contract
know as a
1 document no separate
Agreement for sale
note
O-20% = 30 day foreclo-
sure
20-30% = 60 day foreclo-
Agreement for sale fore- sure
closure timelines 30-50% = 120 day foreclo-
sure
50%+ = 270 day foreclo-
sure
Incohate Incomplete
Mechanics Lien (type) Specific Lien
Mechanics Lien (timeline)
, Arizona Real Estate Exam 2025–2026 | Complete Study Guide & Practice
Questions
20 day - pre Lien notice
120 day - from completion
to file
180 day- from beginning to
file lawsuit
If u do not file in 180 day in
Laches - waited too long
Residential - only the gen-
eral can file
Commercial - any of the
contractors can file
Needs to be $600,000
Real Estate Recovery
in recovery fund by June
Fund balance
30th
Agent - $10 fee
Broker - $20 fee
Recovery Fee Fees If it falls below the year that
you renew you pay the fee
again
Each agent is protected for
$90,000
$30,000 can be paid per
Recovery Fund Protection
transaction
Once $1 is paid out of the
fund on your behalf your li-
, Arizona Real Estate Exam
Study online at https://quizlet.com/_51igkk
cense is terminated - if you
pay everything back plus
10% your license can be
denied for reinstatement
for 5 years
What is your Client/Princi-
Fiduciary responsibility
ple due?
What is the Customer Truth, Honesty and Disclo-
Due? sure
The person who gives au-
thority to an agent - there-
Principle
by creating a fiduciary rela-
tionship
Someone who is repre-
Client
sented by an agent
A party to a transaction
Customer
who is not a principle
Confidentiality = Loyalty
An agent who does many
different things for a client
General agent - represents client in all RE
matters - a property man-
ager - an agent to a broker
Special or Specific agent
, Arizona Real Estate Exam
Study online at https://quizlet.com/_51igkk
An agent representing one
special thing.
Power of attorney (power)
Universal agent
Attorney in fact (person)
An option or First right of
Unilateral Contract
refusal
Unilateral listing, whoev-
er brings the buyer wins,
uses many different bro-
Open contract kers, procuring cause-you
are the reason for the sale.
Least protection for the
broker
You're out. Seller can sell
Exclusive agency themselves and not pay a
commission.
Most protection. Shut up-
Exclusive right to sell pay me, paid no matter
what
Legal, binding, enforce-
able, good, death of party,
Valid
brokers fails to initial in ten
days
Void
