- Study guides, Class notes & Summaries

Agency Legal relationship where one party allows someone else the powers to act for them or on their behalf in some manner or capacity" Vicarious liability (Respondent Superior) refers to the responsibility one individual has for the acts of another In the real estate business, this would be the case when a listing or buyer's broker is an "agent" of the seller or buyer It also means that as an agent, we share or have the same intents as our principals For real estate relationship...

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11 pages

Written in 2023/2024

Grade A+

twishfrancis

Note on Licenses Individuals who discuss price, terms or availability of a property must be licensed AZ Licensure Requirments 18 years of age Notes on activate license students have 1 year from passing the test to activate the license. after one year they will need to retake the state exam Real Estate License expires on the last day of the month in which the license was activated 2 years later How many hours of continuing education are required 24 hours in 24 months Grace period given to th...

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7 pages

Written in 2023/2024

Grade A+

twishfrancis

Arizona property taxes are based on: A) Pro rata share B) Assessed Value C)Front footage D)Transfer value B) Assessed Value The tax rate applied to owner occupied residential property tax is: A) 10% B) 12% C) 14% D) 16% A) 10% Which of the following liens would have priority? A) Recorded mechanics liens. B) Unrecorded mechanics liens. C) IRS liens D) Property taxes D) Property taxes Property taxes become a lien on the first day of: A) January B) October C) November D) ...

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8 pages

Written in 2023/2024

Grade A+

twishfrancis

A 3.45 acre lot sells for $.50 per square foot. What is the selling price $75,141 Applying to add refers to an ad that Gives no indication that the property is listed as a broker A bar were is required to put 10% down for the purchase of the property. The 10% down would be considered Equity A broker acting as a property manager, would be what type of Asian General A buyer pays 20% down and obtains a real state mortgage. The buyer makes no further payments. What clause with the lender...

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7 pages

Written in 2023/2024

Grade A+

twishfrancis

What are the two requirements of the property if the anti-deficiency statute is to apply? - correct answer 2.5 acres or less. Utilized as a family home for a 1 or 2 family dwelling. In a deed of trust, who is the "trustor?" - correct answer The person buying the house (the purchaser). Who has priority in liens even over a purchase money mortgage lien filed prior? - correct answer Liens for unpaid property taxes and agricultural liens on crops. Does an IRS lien filed in 2015 have prior...

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43 pages

Written in 2023/2024

Grade A+

GRADEUNITS

Does the anti-deficiency statute apply to investment property? - True. Does the anti-deficiency statute apply to second mortgages and deeds of trust? - False. What are the two requirements of the property if the anti-deficiency statute is to apply? - 2.5 acres or less. Utilized as a family home for a 1 or 2 family dwelling. In a deed of trust, who is the "trustor?" - The person buying the house (the purchaser). Who has priority in liens even over a purchase money mortgage lien filed prior...

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42 pages

Written in 2023/2024

Grade A+

ClassHero

What are the two requirements of the property if the anti-deficiency statute is to apply? - 2.5 acres or less. Utilized as a family home for a 1 or 2 family dwelling. In a deed of trust, who is the "trustor?" - The person buying the house (the purchaser). Who has priority in liens even over a purchase money mortgage lien filed prior? - Liens for unpaid property taxes and agricultural liens on crops. Does an IRS lien filed in 2015 have priority over a mortgage filed in 2014? - No. In Arizo...

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42 pages

Written in 2023/2024

Grade A+

ClassHero

Arizona Real Estate Salesperson Exam Questions and Answers 2024

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41 pages

Written in 2023/2024

Grade A+

Dorothy10

Does the anti-deficiency statute apply to investment property? - True. Does the anti-deficiency statute apply to second mortgages and deeds of trust? - False. What are the two requirements of the property if the anti-deficiency statute is to apply? - 2.5 acres or less. Utilized as a family home for a 1 or 2 family dwelling. In a deed of trust, who is the "trustor?" - The person buying the house (the purchaser). Who has priority in liens even over a purchase money mortgage lien filed prior...

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42 pages

Written in 2023/2024

Grade A+

Preach

What are the two requirements of the property if the anti-deficiency statute is to apply? - 2.5 acres or less. Utilized as a family home for a 1 or 2 family dwelling. In a deed of trust, who is the "trustor?" - The person buying the house (the purchaser). Who has priority in liens even over a purchase money mortgage lien filed prior? - Liens for unpaid property taxes and agricultural liens on crops. Does an IRS lien filed in 2015 have priority over a mortgage filed in 2014? - No. In Arizo...

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42 pages

Written in 2023/2024

Grade A+

Preach

Arizona Real Estate Salesperson Exam |482 questions with correct answers

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48 pages

Written in 2023/2024

Grade A+

BillRanker

Arizona Real Estate Salesperson Exam Latest Update Graded A+ What are the two requirements of the property if the anti-deficiency statute is to apply? 2.5 acres or less. Utilized as a family home for a 1 or 2 family dwelling. In a deed of trust, who is the "trustor?" The person buying the house (the purchaser). Who has priority in liens even over a purchase money mortgage lien filed prior? Liens for unpaid property taxes and agricultural liens on crops. Does an IRS lien filed in 2015 have p...

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72 pages

Written in 2022/2023

Grade A+

BrilliantScores

Real Estate Salesperson BUNDLE PACKAGE

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12 items

cracker

What are the two requirements of the property if the anti-deficiency statute is to apply? CORRECT ANSWER 2.5 acres or less. Utilized as a family home for a 1 or 2 family dwelling. In a deed of trust, who is the "trustor?" CORRECT ANSWER The person buying the house (the purchaser). Who has priority in liens even over a purchase money mortgage lien filed prior? CORRECT ANSWER Liens for unpaid property taxes and agricultural liens on crops. Does an IRS lien filed in 2015 have priority ov...

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48 pages

Written in 2022/2023

Grade A+

cracker