AZ Real Estate Exam
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REAL ESTATE ( AZ SPECIFIC ) Arizona Real Estate Exam AZ Real estate exam Arizona
275 terms 506 terms 200 terms 73 terms
adam_leicht Preview stevevanburen Preview analyt Preview bha
Terms in this set (58) Hide definitions
non-recourse loan a loan that carries neither a penalty nor further obligation to repay if not paid
back - a non-recourse loan prvente deficiency judgment
Loan Estimate disclosure must be provided by ——- within The lender ——- three business days
———days
Temporary brokers must keep paperwork for how long? One year
township size 36 square miles
How many square feet are in an acre? 43,560 square feet
Three formulas for percentages Part= total * rate
Total= part / rate
Rate= part / total
Find the loan to value ratio Appraised property value / mortgage amount = loan to value
, When a buyer is given a promise that the grantor has the Covenant of seizin
right to convey the property, it is called:
Buyer purchases property and receives a warranty deed. Annual crops would not transfer with the deed
What would not transfer with the deed?
Which of the items listed below best describes a partition A partition action usually involves the court and is, as the name implies, dividing
action? off a co-owner's interest from the rest and separating their ownership.
Bob and Jerry take title together. Bob owns one half and Tenancy in Common
Jerry owns one half of the same property. What form of
co-ownership does the law presume?
Which of the following is not properly included in the The right of government to confiscate property from the ownerThis right falls
concept of the power of eminent domain: under police power because confiscation doesn't allow for just compensation and
eminent domain is a power with just compensation.
An instrument that conveys a grantor's interest is called a: Deed
When is a bringdown endorsement issued? It is issued prior to the close of escrow.
What is the adjusted gross income and how do you arrive Adjustable gross income is total rents less vacancies and credit losses.
at it?
The owner of a small strip mall refuses to lease to a Under the Civil Rights Act of 1866, all buyers/lesees are protected from
tenant of Greek ancestry. Which law has been violated? discrimination based on race, color, or ancestry. Ancestry is not a protected class
under Title VIII of the Federal Fair Housing Act.
Which of the following is correct about a lease purchase obligation to buy
agreement?
During the buyer's walkthrough, it was discovered that D. The seller would be obligated to repair the washer
the washer was not in working order. The buyer informs
the seller that the washer will need to be repaired, since
it was in working order at time of contract. Which of the
following is true?D. The seller would be obligated to
repair the washer
Income approach of appraisal determines: Cap Rate
When would IRS form 1099S be used? Report sales price
Leave the first rating
Students also studied
Flashcard sets Study guides
REAL ESTATE ( AZ SPECIFIC ) Arizona Real Estate Exam AZ Real estate exam Arizona
275 terms 506 terms 200 terms 73 terms
adam_leicht Preview stevevanburen Preview analyt Preview bha
Terms in this set (58) Hide definitions
non-recourse loan a loan that carries neither a penalty nor further obligation to repay if not paid
back - a non-recourse loan prvente deficiency judgment
Loan Estimate disclosure must be provided by ——- within The lender ——- three business days
———days
Temporary brokers must keep paperwork for how long? One year
township size 36 square miles
How many square feet are in an acre? 43,560 square feet
Three formulas for percentages Part= total * rate
Total= part / rate
Rate= part / total
Find the loan to value ratio Appraised property value / mortgage amount = loan to value
, When a buyer is given a promise that the grantor has the Covenant of seizin
right to convey the property, it is called:
Buyer purchases property and receives a warranty deed. Annual crops would not transfer with the deed
What would not transfer with the deed?
Which of the items listed below best describes a partition A partition action usually involves the court and is, as the name implies, dividing
action? off a co-owner's interest from the rest and separating their ownership.
Bob and Jerry take title together. Bob owns one half and Tenancy in Common
Jerry owns one half of the same property. What form of
co-ownership does the law presume?
Which of the following is not properly included in the The right of government to confiscate property from the ownerThis right falls
concept of the power of eminent domain: under police power because confiscation doesn't allow for just compensation and
eminent domain is a power with just compensation.
An instrument that conveys a grantor's interest is called a: Deed
When is a bringdown endorsement issued? It is issued prior to the close of escrow.
What is the adjusted gross income and how do you arrive Adjustable gross income is total rents less vacancies and credit losses.
at it?
The owner of a small strip mall refuses to lease to a Under the Civil Rights Act of 1866, all buyers/lesees are protected from
tenant of Greek ancestry. Which law has been violated? discrimination based on race, color, or ancestry. Ancestry is not a protected class
under Title VIII of the Federal Fair Housing Act.
Which of the following is correct about a lease purchase obligation to buy
agreement?
During the buyer's walkthrough, it was discovered that D. The seller would be obligated to repair the washer
the washer was not in working order. The buyer informs
the seller that the washer will need to be repaired, since
it was in working order at time of contract. Which of the
following is true?D. The seller would be obligated to
repair the washer
Income approach of appraisal determines: Cap Rate
When would IRS form 1099S be used? Report sales price
