Arizona School of Real Estate and Business exam questions with answers

Arizona School of Real Estate and Business |\ |\ |\ |\ |\ |\ |\




exam questions with answers |\ |\ |\




In a listing agreement, the seller would be the.. - CORRECT
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ANSWERS ✔✔Employer |\




The annual gross multiplier is calculated by - CORRECT ANSWERS
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✔✔Dividing the price paid by the annual gross income
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A Real Estate broker is normally what type of agent - CORRECT
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ANSWERS ✔✔Special Agent |\ |\




Who does a salesperson represent - CORRECT ANSWERS
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✔✔Employing Broker |\




A salespersons right to compensation is based on - CORRECT
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ANSWERS ✔✔Having a valid license |\ |\ |\ |\




What is not required for a listing contract to be valid - CORRECT
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ANSWERS ✔✔Commission Rate |\ |\




When does a salesperson have a listing - CORRECT ANSWERS
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✔✔When the listing is signed |\ |\ |\ |\

,The law that governs the duty between the Agent and the
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principle is called - CORRECT ANSWERS ✔✔Law of Agency
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What is the relationship of the licensee to the broker - CORRECT
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ANSWERS ✔✔General Agent |\ |\




A Salesperson represents a seller in a real estate matter. This
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agency is called - CORRECT ANSWERS ✔✔General
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Which of the followung is not required to appear on a listing
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areement - CORRECT ANSWERS ✔✔Construction Cost
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Which of the following types of listings would be considered more
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unilateral than bilateral - CORRECT ANSWERS ✔✔Open
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When would a plat map be used? - CORRECT ANSWERS
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✔✔Subdivisions


Under an Exclusive Agency listing - CORRECT ANSWERS ✔✔The
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seller will not pay a commission if the seller sells the property
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himself


What is the process of giving someone the right to sign your
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name - CORRECT ANSWERS ✔✔Power of Attorney
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,A salesperson may enter into a dual agency provided this is -
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CORRECT ANSWERS ✔✔Disclosed to the buyer and seller in
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writing


A broker relationship to a seller would most likely be - CORRECT
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ANSWERS ✔✔Special |\




A person wants to buy a property in the future, but also wants
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the right to reject the offer. This is called - CORRECT ANSWERS
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✔✔First right of refusal |\ |\ |\




A broker has a listing and the seller doesnt want the broker to
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disclose to the buyer that the seller is going through a divorce.
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what shouldthe broker do - CORRECT ANSWERS ✔✔Keep the
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information confidential |\




The key factor of an exclusive right to sell listing is - CORRECT
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ANSWERS ✔✔Broker is paid no matter who sells the property
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Seller hires a broker; the broker makes decisions for the seller
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without notifying the seller. The broker is acting in which of the
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following agency - CORRECT ANSWERS ✔✔Ostensible
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An agent receives 2 offers on a listing one after another. How do
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you present the offers to the seller - CORRECT ANSWERS
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✔✔Present both offers at the same time |\ |\ |\ |\ |\ |\

, Which of the following is an example of a unilateral contract -
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CORRECT ANSWERS ✔✔Reward Poster |\ |\ |\




The person making a counter offer is called the - CORRECT
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ANSWERS ✔✔Offeror |\




A contract has been signed but title has not been passed, this is
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called - CORRECT ANSWERS ✔✔Exectory
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Which of the following structures would not use the cost
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approach - CORRECT ANSWERS ✔✔Used Residential
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When using the market data approach, what would you least
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likely use as a comparison when appraising a 3 bed, 2 bath with
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2 car garage - CORRECT ANSWERS ✔✔Foreclosure Sale
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When calculating net operating income you would take into
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account all the following items EXCEPT - CORRECT ANSWERS
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✔✔Cap Rate |\




If the car rate on a property is 10% and the income property has
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40units renting at $900 per month what would be the value if the
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expenses are $40,000 per year and the vacancy factor is 5% -
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CORRECT ANSWERS ✔✔$3,704,000 |\ |\




A rate of return would be related to which of the following -
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CORRECT ANSWERS ✔✔Cap Rate |\ |\ |\