Arizona real estate Study guides, Class notes & Summaries

Arizona Real Estate Exam Guide Questions and CORRECT Answers Gareth inherits a plot of land from Jessie. A year later, he sells half of the property to kim. A year later, she gives her half to Alex, who sells the mineral rights. This series of events best represents the legal property of: A. Control B. Disposition C. Possession D. Quiet enjoyment - Correct ANSWER- Disposition Which is not an example of an improvement? A. the barn on the back of the property B. the fence running alo...

Article 26 of the State of Arizona constitution gave what powers to real estate agents: a. The ability to negotiate leases b. Authority to prepare real estate documents and draft contracts c. The rights to charge commissions for selling real estate in Arizona d. The powers to be able to revise settlement statements - Authority to prepare real estate documents and draft contracts An encumbrance could be: a. Any of these b. Liability c. C&R's d. Lien - Any of these Before bringi...

Which of the following is NOT a specific lien? a. an unrecorded mortgage b. a mechanic's lien c. a judgement lien d. a blanket mortgage - c. a judgement lien Which of the following is NOT an encumbrance on real property? a. lease b. easement c. homestead right d. restrictive convenant - c. homestead right Which of the following is NOT an appurtenance? a. easement right b. mineral right c. water rights d. trade fixtures - d. trade fixtures

ARIZONA REAL ESTATE TEST QUESTIONS AND ANSWERS GRADED A+ LATEST UPDATE 2024

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Arizona Real Estate Salesperson Exam-with 100% verified solutions -tutor verified

~ The maximum amount of money that may be paid for any one licensee from the Recovery Fund is: - $20,000 - $30,000 - $40,000 - $90,000 - - $90,000 ~ By June 30, the Real Estate Recovery Fund MUST maintain a balance of: - $200,000 - $250,000 - $300,000 - $600,000 - - $600,000 ~ The real estate Commissioner is appointed by the: - Governor. - Advisory Board. - Legislature. - Brokers within the state. - - Governor ~ The primary purpose of real estate licensing is to: - Have trained p...

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Arizona Real Estate UPDATED Exam Questions and CORRECT Answers acceleration clause - Correct ANSWER- A clause in your mortgage which allows the lender to demand payment of the outstanding loan balance for various reasons. The most common reasons for accelerating a loan are if the borrower defaults on the loan or transfers title to another individual without informing the lender. adjustable-rate mortgage (ARM) - Correct ANSWER- A mortgage in which the interest changes periodically, ac...

biweekly mortgage - Answer A mortgage in which you make payments every two weeks instead of once a month. The basic result is that instead of making twelve monthly payments during the year, you make thirteen. The extra payment reduces the principal, substantially reducing the time it takes to pay off a thirty year mortgage. Note: there are independent companies that encourage you to set up bi-weekly payment schedules with them on your thirty year mortgage. They charge a set-up fee and a tra...