1|Page
AZ Real Estate Final Exam 2025 – 2 Latest Versions
with Updated Questions, Answers & Study Guide for
Arizona Real Estate License
Ace your AZ Real Estate Final Exam with the 2025 updated test prep. Includes 2 latest
exam versions, real practice questions, detailed rationales, and Arizona-specific real estate
law, finance, and property management topics. Perfect for students preparing for the
Arizona Real Estate License Exam or Pearson VUE state test.
• AZ Real Estate Final Exam 2025
• Arizona Real Estate License Exam questions and answers
• Arizona Real Estate Final Exam latest versions
• AZ Real Estate practice test 2025
VERSION A
Which of these fits the description of the abandonment remedy? - ANSWER-Rats drove Willard out of his
apartment.
Among the many papers that must be sent to a buyer in a planned community is a notice that the buyer
understands the legality of the declaration, bylaws, and rules of the association. In Arizona, how long
does the buyer have to sign and return the notice to the HOA? - ANSWER-14 days
If a seller asks a buyer to waive the inspection contingency, how could the transaction process transpire
and still protect the buyer? - ANSWER-Buyer has inspection, buyer makes offer, seller accepts offer
,2|Page
How are sections and townships related to one another, relative to the rectangular government survey
system? - ANSWER-Townships are divided into sections.
Where is the commissioner's main office located? - ANSWER-The state capitol
Which of the following is a reason a seller might consider selling property through a land contract rather
than a traditional sale? - ANSWER-The seller may pay less in capital gains taxes by receiving the proceeds
from the sale over time rather than in a lump sum.
CT is a licensed contractor with AZ Plumbing and Heating. He just put in his two-week notice, and then
he will start working for Canyon Plumbing and Heating. Can he transfer his license to his new employer?
- ANSWER-No, licenses aren't transferable.
Which of these statements accurately describes finance- and housing-related legislation? - ANSWER-The
Fair Housing Act of 1968 prohibited discrimination in the sale, rental, and financing of housing based on
race, color, religion, or national origin.
If the education revolving fund exceeds ______ at the end of any fiscal year, the excess is transferred into
the state's general fund. - ANSWER-$25,000
How long does an Arizona landlord have to return a security deposit after a tenant moves out at the end
of their lease? - ANSWER-14 business days
Which of the following is a quality of a marketable title? - ANSWER-It allows the owner to mortgage the
property.
Which of the following describes a right-of-way easement? - ANSWER-Land that a railroad company runs
its track through
A property management firm has ______ days after termination of a property management agreement
to provide a final list of accounts receivable/payments. - ANSWER-75
,3|Page
Non-trust funds, as long as they're not commingled with trust funds, are not bound by _______. -
ANSWER-Real estate laws
______ are taxed at a taxpayer's marginal tax rate. - ANSWER-Short-term capital gains
Arizona designated broker Rick is setting up a temporary branch office for a few transactions taking place
50 miles from the main brokerage office. Does Rick need to acquire a temporary branch office license? -
ANSWER-No. Temporary branch offices do not require additional licensure like permanent ones do.
When is an affidavit of affixture used in Arizona? - ANSWER-When an individual who owns both a
manufactured home and the land on which it sits wants to change the status of the manufactured home
from personal to real property
Arizona licensees owe both common law fiduciary and _____ duties to their clients. - ANSWER-Statutory
Using the capitalization formula, what is the value if the net operating income is $20,000 and the rate of
capitalization is 10%? - ANSWER-$200,000
Through which method of voluntary alienation does the grantor convey real property and transfer title to
the grantee? - ANSWER-Deed
Which of the following is a possible title issue with a real estate-owned transaction? - ANSWER-Internal
audit delays
Arizona landlord Roberto sent his former tenant, Brenda, an itemized list of the deductions he's taken
from her security deposit, along with a check for the remaining deposit that's due to her. How long does
Brenda have to dispute this list or the moneys taken from the security deposit before the list and amount
due are considered valid and final? - ANSWER-60 days
What's the term for an extended period of time during which banks experience more withdrawals than
deposits? - ANSWER-Disintermediation
, 4|Page
Can police power ever be used in a way that restricts citizens' freedom? - ANSWER-Yes, if it's for the
public good.
Janice works for a homeowners association in Mesa, and a property owner in the association asks for her
help with managing his home as a rental property. Does Janice need a license to help the owner? -
ANSWER-Yes, because she's performing property management for an individual owner.
Jonathan hasn't paid his property taxes in more than a year. He wants to sell his property and try to
move to a smaller home. What can he do in these circumstances? - ANSWER-He can pay the lien;
otherwise, he can't sell the property.
To what type of estate does pur autre vie apply? - ANSWER-Freehold estate
Which banking-related entity shares similarities with the purpose and function of the NCUA? - ANSWER-
FDIC
Which one of the following actions is a licensee required to take to fulfill a fiduciary duty? - ANSWER-
Disclose personal interest and licensed status when buying property for personal use.
Jarod has a heap of financial trouble. His credit card debt is piling up, he owes child support, and he's
defaulted on his mortgage loan. His lender starts foreclosure proceedings. Which of these choices would
stop the foreclosure and possibly allow Jarod to keep his home? - ANSWER-Bankruptcy
What's true of chlorofluorocarbons (CFCs)? - ANSWER-They are nontoxic.
Which of the following scenarios describes an example of unilateral rescission? - ANSWER-Bobby, the
buyer, makes an offer on a house that doesn't meet the appraisal contingency. He cancels the sale.
James, a seller, signed a listing agreement that allowed him to contract with multiple agents but only pay
a commission to the agent who located a buyer. This type of listing agreement is called ______. -
ANSWER-Open
AZ Real Estate Final Exam 2025 – 2 Latest Versions
with Updated Questions, Answers & Study Guide for
Arizona Real Estate License
Ace your AZ Real Estate Final Exam with the 2025 updated test prep. Includes 2 latest
exam versions, real practice questions, detailed rationales, and Arizona-specific real estate
law, finance, and property management topics. Perfect for students preparing for the
Arizona Real Estate License Exam or Pearson VUE state test.
• AZ Real Estate Final Exam 2025
• Arizona Real Estate License Exam questions and answers
• Arizona Real Estate Final Exam latest versions
• AZ Real Estate practice test 2025
VERSION A
Which of these fits the description of the abandonment remedy? - ANSWER-Rats drove Willard out of his
apartment.
Among the many papers that must be sent to a buyer in a planned community is a notice that the buyer
understands the legality of the declaration, bylaws, and rules of the association. In Arizona, how long
does the buyer have to sign and return the notice to the HOA? - ANSWER-14 days
If a seller asks a buyer to waive the inspection contingency, how could the transaction process transpire
and still protect the buyer? - ANSWER-Buyer has inspection, buyer makes offer, seller accepts offer
,2|Page
How are sections and townships related to one another, relative to the rectangular government survey
system? - ANSWER-Townships are divided into sections.
Where is the commissioner's main office located? - ANSWER-The state capitol
Which of the following is a reason a seller might consider selling property through a land contract rather
than a traditional sale? - ANSWER-The seller may pay less in capital gains taxes by receiving the proceeds
from the sale over time rather than in a lump sum.
CT is a licensed contractor with AZ Plumbing and Heating. He just put in his two-week notice, and then
he will start working for Canyon Plumbing and Heating. Can he transfer his license to his new employer?
- ANSWER-No, licenses aren't transferable.
Which of these statements accurately describes finance- and housing-related legislation? - ANSWER-The
Fair Housing Act of 1968 prohibited discrimination in the sale, rental, and financing of housing based on
race, color, religion, or national origin.
If the education revolving fund exceeds ______ at the end of any fiscal year, the excess is transferred into
the state's general fund. - ANSWER-$25,000
How long does an Arizona landlord have to return a security deposit after a tenant moves out at the end
of their lease? - ANSWER-14 business days
Which of the following is a quality of a marketable title? - ANSWER-It allows the owner to mortgage the
property.
Which of the following describes a right-of-way easement? - ANSWER-Land that a railroad company runs
its track through
A property management firm has ______ days after termination of a property management agreement
to provide a final list of accounts receivable/payments. - ANSWER-75
,3|Page
Non-trust funds, as long as they're not commingled with trust funds, are not bound by _______. -
ANSWER-Real estate laws
______ are taxed at a taxpayer's marginal tax rate. - ANSWER-Short-term capital gains
Arizona designated broker Rick is setting up a temporary branch office for a few transactions taking place
50 miles from the main brokerage office. Does Rick need to acquire a temporary branch office license? -
ANSWER-No. Temporary branch offices do not require additional licensure like permanent ones do.
When is an affidavit of affixture used in Arizona? - ANSWER-When an individual who owns both a
manufactured home and the land on which it sits wants to change the status of the manufactured home
from personal to real property
Arizona licensees owe both common law fiduciary and _____ duties to their clients. - ANSWER-Statutory
Using the capitalization formula, what is the value if the net operating income is $20,000 and the rate of
capitalization is 10%? - ANSWER-$200,000
Through which method of voluntary alienation does the grantor convey real property and transfer title to
the grantee? - ANSWER-Deed
Which of the following is a possible title issue with a real estate-owned transaction? - ANSWER-Internal
audit delays
Arizona landlord Roberto sent his former tenant, Brenda, an itemized list of the deductions he's taken
from her security deposit, along with a check for the remaining deposit that's due to her. How long does
Brenda have to dispute this list or the moneys taken from the security deposit before the list and amount
due are considered valid and final? - ANSWER-60 days
What's the term for an extended period of time during which banks experience more withdrawals than
deposits? - ANSWER-Disintermediation
, 4|Page
Can police power ever be used in a way that restricts citizens' freedom? - ANSWER-Yes, if it's for the
public good.
Janice works for a homeowners association in Mesa, and a property owner in the association asks for her
help with managing his home as a rental property. Does Janice need a license to help the owner? -
ANSWER-Yes, because she's performing property management for an individual owner.
Jonathan hasn't paid his property taxes in more than a year. He wants to sell his property and try to
move to a smaller home. What can he do in these circumstances? - ANSWER-He can pay the lien;
otherwise, he can't sell the property.
To what type of estate does pur autre vie apply? - ANSWER-Freehold estate
Which banking-related entity shares similarities with the purpose and function of the NCUA? - ANSWER-
FDIC
Which one of the following actions is a licensee required to take to fulfill a fiduciary duty? - ANSWER-
Disclose personal interest and licensed status when buying property for personal use.
Jarod has a heap of financial trouble. His credit card debt is piling up, he owes child support, and he's
defaulted on his mortgage loan. His lender starts foreclosure proceedings. Which of these choices would
stop the foreclosure and possibly allow Jarod to keep his home? - ANSWER-Bankruptcy
What's true of chlorofluorocarbons (CFCs)? - ANSWER-They are nontoxic.
Which of the following scenarios describes an example of unilateral rescission? - ANSWER-Bobby, the
buyer, makes an offer on a house that doesn't meet the appraisal contingency. He cancels the sale.
James, a seller, signed a listing agreement that allowed him to contract with multiple agents but only pay
a commission to the agent who located a buyer. This type of listing agreement is called ______. -
ANSWER-Open
