ASREB Exam Study Guide 2025
Questions and Answers
A 3.45 acre lot sells for 50 cents per square foot. What is the selling price? - --
CORRECT ANSWER--$75,141
A blind ad refers to an ad that - --CORRECT ANSWER--Gives no indication that
the property is listed with a broker
A borrower is required to put 10% down for the purchase of a property. The 10%
down would be considered? - --CORRECT ANSWER--Equity
A broker, acting as a property manager, would be what type of agent? - --
CORRECT ANSWER--General
A buyer pays 20% down and obtains a real estate mortgage. The buyer makes no
further payments. What clause would the lender now exercise? - --CORRECT
ANSWER--Acceleration
When a new home is still under construction, the County Assessor may... - --
CORRECT ANSWER--Increase the full cash value
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
, A contact has been signed, but title has not yet passed. The contract is... - --
CORRECT ANSWER--Executory
A handicapped person is leasing a house that requires modification. Which of the
following is TRUE about the modifications? - --CORRECT ANSWER--The lessor
can require the lessee to reasonably restore the property at the end of the lease.
A holdover tenant would have a(n)... - --CORRECT ANSWER--Estate at
sufferance
Which of these property classifications is used for vacant land? - --CORRECT
ANSWER--Class 2
A house costs $100,000. The buyer is making a down payment of $32,000 and
getting a 68,000 loan. If there are 4 points, how much money will be paid out of
the closing for the points? - --CORRECT ANSWER--$2,720
A lender refuses to loan or limits loans in a certain minority neighborhood. This
action is called... - --CORRECT ANSWER--Redlining
A lessee puts in a bookcase for commercial use; at the end of the lease the
bookcase is removed. The bookcase would be considered... - --CORRECT
ANSWER--A trade fixture
To finance the infrastructure for a subdivision development, Arizona law allows
the formation of... - --CORRECT ANSWER--Community Facilities Districts
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
Questions and Answers
A 3.45 acre lot sells for 50 cents per square foot. What is the selling price? - --
CORRECT ANSWER--$75,141
A blind ad refers to an ad that - --CORRECT ANSWER--Gives no indication that
the property is listed with a broker
A borrower is required to put 10% down for the purchase of a property. The 10%
down would be considered? - --CORRECT ANSWER--Equity
A broker, acting as a property manager, would be what type of agent? - --
CORRECT ANSWER--General
A buyer pays 20% down and obtains a real estate mortgage. The buyer makes no
further payments. What clause would the lender now exercise? - --CORRECT
ANSWER--Acceleration
When a new home is still under construction, the County Assessor may... - --
CORRECT ANSWER--Increase the full cash value
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
, A contact has been signed, but title has not yet passed. The contract is... - --
CORRECT ANSWER--Executory
A handicapped person is leasing a house that requires modification. Which of the
following is TRUE about the modifications? - --CORRECT ANSWER--The lessor
can require the lessee to reasonably restore the property at the end of the lease.
A holdover tenant would have a(n)... - --CORRECT ANSWER--Estate at
sufferance
Which of these property classifications is used for vacant land? - --CORRECT
ANSWER--Class 2
A house costs $100,000. The buyer is making a down payment of $32,000 and
getting a 68,000 loan. If there are 4 points, how much money will be paid out of
the closing for the points? - --CORRECT ANSWER--$2,720
A lender refuses to loan or limits loans in a certain minority neighborhood. This
action is called... - --CORRECT ANSWER--Redlining
A lessee puts in a bookcase for commercial use; at the end of the lease the
bookcase is removed. The bookcase would be considered... - --CORRECT
ANSWER--A trade fixture
To finance the infrastructure for a subdivision development, Arizona law allows
the formation of... - --CORRECT ANSWER--Community Facilities Districts
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
