Arizona School Of Real Estate And Business

Arizona School of Real Estate and Business Review Test Grade A+ Fixtures - ANSWERSitems of personal property that are attached or annexed to real property Eminent Domain - ANSWERSPower of a government to take private property for public use. Escheat - ANSWERSThe state takes property upon an owners death if there is no will & no heirs exist. Police Power - ANSWERSstate power to enact laws promoting health, safety, and morals Assesed value - ANSWERSThe amount your local government...

Arizona school of real estate and business final exam questions grade A+ Shelving and counters are securely fastened in a leased retail store. Such items are - ANSWERSTrade fixtures (these are items that a tenant uses in the operation of a business.) Which of these is NOT considered when determining whether an item is a fixture or personal property? - ANSWERSValue of the annexed item (most often the item is valuable, but its the intention and manner of the annexation are the most heavily...

Arizona School of Real Estate and Business Exam Questions & Answers In a listing agreement, the seller would be the.. - ANSWERSEmployer The annual gross multiplier is calculated by - ANSWERSDividing the price paid by the annual gross income A Real Estate broker is normally what type of agent - ANSWERSSpecial Agent Who does a salesperson represent - ANSWERSEmploying Broker A salespersons right to compensation is based on - ANSWERSHaving a valid license What is not required for...

ARIZONA SCHOOL OF REAL ESTATE AND BUSINESS EXAM Q&A Financing Concepts/Loans/ Documentation (cont'd) - ANSWER-11. Conventional - non-government insured (FMAC, FNEMA) 12. FHA insured - insurance program to protect lender 13. VA Guaranteed - lender protected 14. Chattel - personality 15. Package - includes realty and personality (e.g., restaurant) 16. Purchase Money – carry backs only (seller becomes financer) Financing Concepts/Loans/ Documentation (cont'd) - ANSWER-17. Blanke...

ARIZONA SCHOOL OF REAL ESTATE AND BUSINESS EXAM QUESTIONS WITH VERIFIED ANSWERS when constructing a home, the foundation would rest on which of the following - ANSWER-Footing If a parcel of real estate is near a toxic waste site, the agent would be obligated to - ANSWER-Disclose the fact A broker is required to give copies of all documents to which of the following parties - ANSWER-All parties associated with the transaction The world friable would most likely apply to which of the f...

ARIZONA SCHOOL OF REAL ESTATE AND BUSINESS EXAM Q&A A father owns a house as a fee simple owner and give his daughter a life estate in the property with a provision that the property will pass to the son after her death. The son has a - ANSWER-Remainder interest A fee simple property owner deeds title to the property to a church group as long as they run a battered woman shelter on the property. The type of ownership interest held by the church group is - ANSWER-Defeasible fee How much ...

ARIZONA SCHOOL OF REAL ESTATE AND BUSINESS PRACTICE EXAM QUESTIONS AND ANSWERS How can a buyer be best assured of getting his earnest money back of his loan is not approved - ANSWER-Place a contingency clause in the contract How long does a subcontractor have to file a mechanics lien - ANSWER-120 days after completion of work A legal description reads as follows: the NW 1/4 of section 2 and the W 1/2 of the SW 1/4 of section 35. How many acres are in this - ANSWER-240 acres How many ...

ARIZONA SCHOOL OF REAL ESTATE AND BUSINESS FINAL EXAM QUESTIONS WITH COMPLETE SOLUTIONS How much equity does the homestead exemption protection in a person's Arizona residence? - ANSWER-$150,000 (The homestead exemption in Arizona protects up to $150,000 of property equity.) A father owns a house as a fee simple owner and gives his daughter a life estate in the property with a provision that the property will pass to the son after her death. The son has a - ANSWER-Remainder interest (Th...

ARIZONA SCHOOL OF REAL ESTATE AND BUSINESS CHAPTER 1-18 QUIZZES AND BOOK EXAM QUESTIONS WITH CORRECT ANSWERS The purpose of homestead is to protect equity in the - ANSWER-Primary residence This is protection from _______ creditors - ANSWER- The maximum equity protection is - ANSWER-$150,000 At any time, a person may have a maximum of ____ homestead(s) - ANSWER-One Which of the following would be considered community property - ANSWER-Property acquired by one of the properties duri...

Arizona School of Real Estate and Business In a listing agreement, the seller would be the.. - Answer- Employer The annual gross multiplier is calculated by - Answer- Dividing the price paid by the annual gross income A Real Estate broker is normally what type of agent - Answer- Special Agent Who does a salesperson represent - Answer- Employing Broker A salespersons right to compensation is based on - Answer- Having a valid license What is not required for a listing contract to...

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