Arizona Real Estate Broker License Exam
Practice Questions And Correct Answers
(Verified Answers) Plus Rationale 2026
Q&A| Instant Download Pdf
1. What is the minimum age requirement to apply for an Arizona Real
Estate Broker License?
A. 18
B. 21
C. 25
D. 30
A broker applicant must be at least 21 years old to be eligible for
licensure in Arizona.
2. How many total hours of approved real estate education are required
to qualify for the Arizona Broker Exam?
A. 48
B. 90
C. 120
D. 180
Arizona requires 90 hours of approved real estate courses before a
candidate may sit for the broker exam.
3. Which of the following is a fiduciary duty owed by a broker to their
client?
, A. Advertising property
B. Scheduling inspections
C. Loyalty
D. Preparing tax returns
Loyalty is a core fiduciary duty requiring the broker to act in the best
interest of the client above all others.
4. What is the statute that governs real estate licensing and practice in
Arizona?
A. Federal Housing Act
B. Uniform Commercial Code
C. Arizona Revised Statutes Title 32, Chapter 20
D. Arizona Administrative Code Title 6
Arizona’s real estate practice and licensing are regulated under
A.R.S. §32-20.
5. Which type of agency relationship exists when a broker represents
both the buyer and seller in the same transaction?
A. Single agency
B. Dual agency
C. General agency
D. Subagency
Dual agency occurs when the broker represents both parties with
limited loyalty to each.
6. A broker holding earnest money must:
A. Deposit it within 24 hours
B. Hold it until closing only
C. Deposit it into an escrow or trust account promptly
D. Return it immediately
Earnest money must be handled properly and placed in an
escrow/trust account promptly after contract acceptance.
, 7. What is the purpose of the Real Estate Settlement Procedures Act
(RESPA)?
A. Establish property tax levels
B. Provide disclosures in federally related mortgage transactions
C. Govern landlord-tenant law
D. Regulate brokerage commissions
RESPA requires lenders to disclose settlement costs and prohibits
kickbacks in federally related loans.
8. In Arizona, who must sign the brokerage agreement for it to be valid?
A. Only the salesperson
B. The client and the broker
C. Only the broker associate
D. The title company
A valid brokerage agreement requires signatures from both the client
and the licensed broker.
9. What is the legal effect of a counteroffer in a purchase contract?
A. Accept original offer
B. Reject original offer and propose new terms
C. Void the contract entirely
D. Confirm acceptance with changes
A counteroffer terminates the original offer and presents a new offer
when signed.
10. An Arizona broker must keep transaction records for at least:
A. 12 months
B. 5 years
C. 3 years
D. 7 years
State law requires retention of brokerage records for five years.
Practice Questions And Correct Answers
(Verified Answers) Plus Rationale 2026
Q&A| Instant Download Pdf
1. What is the minimum age requirement to apply for an Arizona Real
Estate Broker License?
A. 18
B. 21
C. 25
D. 30
A broker applicant must be at least 21 years old to be eligible for
licensure in Arizona.
2. How many total hours of approved real estate education are required
to qualify for the Arizona Broker Exam?
A. 48
B. 90
C. 120
D. 180
Arizona requires 90 hours of approved real estate courses before a
candidate may sit for the broker exam.
3. Which of the following is a fiduciary duty owed by a broker to their
client?
, A. Advertising property
B. Scheduling inspections
C. Loyalty
D. Preparing tax returns
Loyalty is a core fiduciary duty requiring the broker to act in the best
interest of the client above all others.
4. What is the statute that governs real estate licensing and practice in
Arizona?
A. Federal Housing Act
B. Uniform Commercial Code
C. Arizona Revised Statutes Title 32, Chapter 20
D. Arizona Administrative Code Title 6
Arizona’s real estate practice and licensing are regulated under
A.R.S. §32-20.
5. Which type of agency relationship exists when a broker represents
both the buyer and seller in the same transaction?
A. Single agency
B. Dual agency
C. General agency
D. Subagency
Dual agency occurs when the broker represents both parties with
limited loyalty to each.
6. A broker holding earnest money must:
A. Deposit it within 24 hours
B. Hold it until closing only
C. Deposit it into an escrow or trust account promptly
D. Return it immediately
Earnest money must be handled properly and placed in an
escrow/trust account promptly after contract acceptance.
, 7. What is the purpose of the Real Estate Settlement Procedures Act
(RESPA)?
A. Establish property tax levels
B. Provide disclosures in federally related mortgage transactions
C. Govern landlord-tenant law
D. Regulate brokerage commissions
RESPA requires lenders to disclose settlement costs and prohibits
kickbacks in federally related loans.
8. In Arizona, who must sign the brokerage agreement for it to be valid?
A. Only the salesperson
B. The client and the broker
C. Only the broker associate
D. The title company
A valid brokerage agreement requires signatures from both the client
and the licensed broker.
9. What is the legal effect of a counteroffer in a purchase contract?
A. Accept original offer
B. Reject original offer and propose new terms
C. Void the contract entirely
D. Confirm acceptance with changes
A counteroffer terminates the original offer and presents a new offer
when signed.
10. An Arizona broker must keep transaction records for at least:
A. 12 months
B. 5 years
C. 3 years
D. 7 years
State law requires retention of brokerage records for five years.
