1|Page
AZ Real Estate Final Exam (2 Latest Versions)||
Newest 2025/ 2026 Actual Exam Complete Questions
And Correct Answers With Rationales (Verified
Answers)|Already Graded A+||LATEST EXAM!!
VERSION A
CT is a licensed contractor with AZ Plumbing and Heating.
He just put in his two-week notice, and then he will start
working for Canyon Plumbing and Heating. Can he
transfer his license to his new employer? - ANSWER-No,
licenses aren't transferable.
Which of these statements accurately describes finance-
and housing-related legislation? - ANSWER-The Fair
Housing Act of 1968 prohibited discrimination in the sale,
rental, and financing of housing based on race, color,
religion, or national origin.
If the education revolving fund exceeds ______ at the end
of any fiscal year, the excess is transferred into the state's
general fund. - ANSWER-$25,000
How long does an Arizona landlord have to return a
security deposit after a tenant moves out at the end of
their lease? - ANSWER-14 business days
,2|Page
Which of the following is a quality of a marketable title? -
ANSWER-It allows the owner to mortgage the property.
Which of these fits the description of the abandonment
remedy? - ANSWER-Rats drove Willard out of his
apartment.
Among the many papers that must be sent to a buyer in a
planned community is a notice that the buyer understands
the legality of the declaration, bylaws, and rules of the
association. In Arizona, how long does the buyer have to
sign and return the notice to the HOA? - ANSWER-14
days
If a seller asks a buyer to waive the inspection
contingency, how could the transaction process transpire
and still protect the buyer? - ANSWER-Buyer has
inspection, buyer makes offer, seller accepts offer
How are sections and townships related to one another,
relative to the rectangular government survey system? -
ANSWER-Townships are divided into sections.
Where is the commissioner's main office located? -
ANSWER-The state capitol
,3|Page
Which of the following is a reason a seller might consider
selling property through a land contract rather than a
traditional sale? - ANSWER-The seller may pay less in
capital gains taxes by receiving the proceeds from the sale
over time rather than in a lump sum.
Which of the following describes a right-of-way easement?
- ANSWER-Land that a railroad company runs its track
through
A property management firm has ______ days after
termination of a property management agreement to
provide a final list of accounts receivable/payments. -
ANSWER-75
Non-trust funds, as long as they're not commingled with
trust funds, are not bound by _______. - ANSWER-Real
estate laws
______ are taxed at a taxpayer's marginal tax rate. -
ANSWER-Short-term capital gains
Arizona designated broker Rick is setting up a temporary
branch office for a few transactions taking place 50 miles
, 4|Page
from the main brokerage office. Does Rick need to acquire
a temporary branch office license? - ANSWER-No.
Temporary branch offices do not require additional
licensure like permanent ones do.
When is an affidavit of affixture used in Arizona? -
ANSWER-When an individual who owns both a
manufactured home and the land on which it sits wants to
change the status of the manufactured home from
personal to real property
Arizona licensees owe both common law fiduciary and
_____ duties to their clients. - ANSWER-Statutory
Using the capitalization formula, what is the value if the
net operating income is $20,000 and the rate of
capitalization is 10%? - ANSWER-$200,000
Through which method of voluntary alienation does the
grantor convey real property and transfer title to the
grantee? - ANSWER-Deed
Which of the following is a possible title issue with a real
estate-owned transaction? - ANSWER-Internal audit
delays
AZ Real Estate Final Exam (2 Latest Versions)||
Newest 2025/ 2026 Actual Exam Complete Questions
And Correct Answers With Rationales (Verified
Answers)|Already Graded A+||LATEST EXAM!!
VERSION A
CT is a licensed contractor with AZ Plumbing and Heating.
He just put in his two-week notice, and then he will start
working for Canyon Plumbing and Heating. Can he
transfer his license to his new employer? - ANSWER-No,
licenses aren't transferable.
Which of these statements accurately describes finance-
and housing-related legislation? - ANSWER-The Fair
Housing Act of 1968 prohibited discrimination in the sale,
rental, and financing of housing based on race, color,
religion, or national origin.
If the education revolving fund exceeds ______ at the end
of any fiscal year, the excess is transferred into the state's
general fund. - ANSWER-$25,000
How long does an Arizona landlord have to return a
security deposit after a tenant moves out at the end of
their lease? - ANSWER-14 business days
,2|Page
Which of the following is a quality of a marketable title? -
ANSWER-It allows the owner to mortgage the property.
Which of these fits the description of the abandonment
remedy? - ANSWER-Rats drove Willard out of his
apartment.
Among the many papers that must be sent to a buyer in a
planned community is a notice that the buyer understands
the legality of the declaration, bylaws, and rules of the
association. In Arizona, how long does the buyer have to
sign and return the notice to the HOA? - ANSWER-14
days
If a seller asks a buyer to waive the inspection
contingency, how could the transaction process transpire
and still protect the buyer? - ANSWER-Buyer has
inspection, buyer makes offer, seller accepts offer
How are sections and townships related to one another,
relative to the rectangular government survey system? -
ANSWER-Townships are divided into sections.
Where is the commissioner's main office located? -
ANSWER-The state capitol
,3|Page
Which of the following is a reason a seller might consider
selling property through a land contract rather than a
traditional sale? - ANSWER-The seller may pay less in
capital gains taxes by receiving the proceeds from the sale
over time rather than in a lump sum.
Which of the following describes a right-of-way easement?
- ANSWER-Land that a railroad company runs its track
through
A property management firm has ______ days after
termination of a property management agreement to
provide a final list of accounts receivable/payments. -
ANSWER-75
Non-trust funds, as long as they're not commingled with
trust funds, are not bound by _______. - ANSWER-Real
estate laws
______ are taxed at a taxpayer's marginal tax rate. -
ANSWER-Short-term capital gains
Arizona designated broker Rick is setting up a temporary
branch office for a few transactions taking place 50 miles
, 4|Page
from the main brokerage office. Does Rick need to acquire
a temporary branch office license? - ANSWER-No.
Temporary branch offices do not require additional
licensure like permanent ones do.
When is an affidavit of affixture used in Arizona? -
ANSWER-When an individual who owns both a
manufactured home and the land on which it sits wants to
change the status of the manufactured home from
personal to real property
Arizona licensees owe both common law fiduciary and
_____ duties to their clients. - ANSWER-Statutory
Using the capitalization formula, what is the value if the
net operating income is $20,000 and the rate of
capitalization is 10%? - ANSWER-$200,000
Through which method of voluntary alienation does the
grantor convey real property and transfer title to the
grantee? - ANSWER-Deed
Which of the following is a possible title issue with a real
estate-owned transaction? - ANSWER-Internal audit
delays
