B-1 ASREB Questions and Answers Already Passed

B-1 ASREB Questions and Answers Already Passed A broker receives earnest money from a buyer but instead of placing the money into the trust account the broker pays company bills. This action is an example of: a. Conversion b. Commingling c. Subrogation d. Bona fide a. Conversion A designated broker of a real estate company may: a. Act as a designated broker for more than one real estate company in Arizona b. Take a temporary leave of absence for a period not to exceed 60 days c. Appoint a licensee during a temporary leave of absence d. Live out of state and have no day-to-day supervision of the company c. Appoint a licensee during a temporary leave of absence A license is granted for: a. 1 year b. 2 years c. 3 years d. 4 years b. 2 years A sale of real property is being handled in the brokers office and there is no escrow called for in the contract. Broker prepares several documents in the sale at a cost of $35. Who can the broker charge for this cost? a. Seller b. Buyer c. 1/2 to seller and 1/2 to buyer d. no one A subdivider employés hostesses to show houses. The hostesses explain the features of the homes and gave the prices and terms. In this scenario: a. Only the sales broker needs to be licensed b. Hostesses are employees only and need not be licensed c. The hostesses must be licensed d. As long as they do not accept deposits and do not write up sales, the hostesses need not be licensed c. The hostesses must be licensed