Arizona Real Estate State Exam
Questions and Answers26
A broker with an ongoing property management contract is required to keep residential leases
and related documents for - ANSWERS -1 year from expiration
A finder's fee paid to an unlicensed person by a broker is permissible
a. when paid to a tenant in a complex managed by the broker
b. when paid to a tenant in the managed complex for 8 consecutive months
c. when the payment is $250 for the referral
d. when paid to a tenant who advertises his or her services in procuring tenants - ANSWERS -a.
when paid to a tenant in a complex managed by the broker
What is not part of a typical property management agreement?
a. beginning and ending date
b. frequency of management reports
c. 30-day cancellation clause
d. annual budget - ANSWERS -d. annual budget
Property managers are usually compensated by
a. a percentage of gross rents received
b. a set fee for leasing
c. fees for supervising, repairs, and maintenance
d. rebates from suppliers - ANSWERS -a. a percentage of gross rents received
,Which of the following would not be part of the Arizona Landlord Tenant Act?
a. security deposit regulations
b. property management agreement regulations
c. notices for eviction
d. notice period for condo conversion - ANSWERS -b. property management agreement
regulations
Which of the following is NOT a specific lien?
a. an unrecorded mortgage
b. a mechanic's lien
c. a judgement lien
d. a blanket mortgage - ANSWERS -c. a judgement lien
Which of the following is NOT an encumbrance on real property?
a. lease
b. easement
c. homestead right
d. restrictive convenant - ANSWERS -c. homestead right
Which of the following is NOT an appurtenance?
a. easement right
b. mineral right
c. water rights
d. trade fixtures - ANSWERS -d. trade fixtures
The physical characteristics of land include:
, a. indestructibility
b. homogeneity
c. improvements
d. supply - ANSWERS -a. indestructibility
Which of the following restrictive covenants is MOST likely to be enforceable?
a. prohibits sales to blacks
b. prohibits resales for 20 years
c. prohibits use for anything other than single-family dwellings
d. absolutely prohibits any resales - ANSWERS -c. prohibits use for anything other than single-
family dwellings
What would a landlocked property owner MOST likely ask the court for?
a. an easement by prescription
b. an easement in gross
c. an easement by necessity
d. an adverse possession of servant tenement - ANSWERS -c. an easement by necessity
Restrictive covenants are enforced by:
a. the district attorney
b. the lender
c. the planning commission
d. legal action by other owners - ANSWERS -d. legal action by other owners
Mary is interested in a parcel of real estate owned by Kathy. Mary has a title report that shows
the property is encumbered by several liens. The lien with the highest priority is the lien:
a. of lowest amount
Questions and Answers26
A broker with an ongoing property management contract is required to keep residential leases
and related documents for - ANSWERS -1 year from expiration
A finder's fee paid to an unlicensed person by a broker is permissible
a. when paid to a tenant in a complex managed by the broker
b. when paid to a tenant in the managed complex for 8 consecutive months
c. when the payment is $250 for the referral
d. when paid to a tenant who advertises his or her services in procuring tenants - ANSWERS -a.
when paid to a tenant in a complex managed by the broker
What is not part of a typical property management agreement?
a. beginning and ending date
b. frequency of management reports
c. 30-day cancellation clause
d. annual budget - ANSWERS -d. annual budget
Property managers are usually compensated by
a. a percentage of gross rents received
b. a set fee for leasing
c. fees for supervising, repairs, and maintenance
d. rebates from suppliers - ANSWERS -a. a percentage of gross rents received
,Which of the following would not be part of the Arizona Landlord Tenant Act?
a. security deposit regulations
b. property management agreement regulations
c. notices for eviction
d. notice period for condo conversion - ANSWERS -b. property management agreement
regulations
Which of the following is NOT a specific lien?
a. an unrecorded mortgage
b. a mechanic's lien
c. a judgement lien
d. a blanket mortgage - ANSWERS -c. a judgement lien
Which of the following is NOT an encumbrance on real property?
a. lease
b. easement
c. homestead right
d. restrictive convenant - ANSWERS -c. homestead right
Which of the following is NOT an appurtenance?
a. easement right
b. mineral right
c. water rights
d. trade fixtures - ANSWERS -d. trade fixtures
The physical characteristics of land include:
, a. indestructibility
b. homogeneity
c. improvements
d. supply - ANSWERS -a. indestructibility
Which of the following restrictive covenants is MOST likely to be enforceable?
a. prohibits sales to blacks
b. prohibits resales for 20 years
c. prohibits use for anything other than single-family dwellings
d. absolutely prohibits any resales - ANSWERS -c. prohibits use for anything other than single-
family dwellings
What would a landlocked property owner MOST likely ask the court for?
a. an easement by prescription
b. an easement in gross
c. an easement by necessity
d. an adverse possession of servant tenement - ANSWERS -c. an easement by necessity
Restrictive covenants are enforced by:
a. the district attorney
b. the lender
c. the planning commission
d. legal action by other owners - ANSWERS -d. legal action by other owners
Mary is interested in a parcel of real estate owned by Kathy. Mary has a title report that shows
the property is encumbered by several liens. The lien with the highest priority is the lien:
a. of lowest amount
