AZ CompuCram Questions With Complete Solutions
A bank refuses to lend a married woman money because, even
though she qualifies on her own, they want her husband to co-
sign the loan with her. The bank is guilty of violating: A. The
Federal Equal Credit Opportunity Act B. The Federal Fair
Housing Act C. The Civil Rights Act of 1968 D. RESPA
Correct Answers A. The Federal Equal Credit Opportunity Act
A borrower pays off his loan. However, the lender refuses to
cancel the mortgage. Which of the following clauses of a
mortgage has the lender violated? Correct Answers CORRECT
ANSWER: Defeasance clause
A broker sends a licensee to one of his listings to get the
licensees opinion of value. Which of the following statements is
true? Correct Answers CORRECT ANSWER: This activity is
legal
A broker's listing agreement expired two weeks ago, and the
seller has re-listed with another agency. However, that broker
now has an interested buyer. In showing the property to this
prospective buyer, which of the following is true? A. The broker
cannot discuss any offers he received on the property while he
was the listing agent B. The broker now becomes a dual agent
and must represent both parties equally C. The broker cannot
disclose any information about the property's physical condition
he received or became aware of while he was the listing agent
D. The broker cannot represent this buyer until at least sixty
days after the original listing agreement expires Correct
,Answers A. The broker cannot discuss any offers he received
on the property while he was the listing agent
A buyer purchases property with a homeowner's association that
has CC&Rs. Where would the CC&R's most likely be found?
Correct Answers CORRECT ANSWER: County recorder's
office
A chronological document showing conveyance of property
from one owner another is called: A. Abstract of Title B. Chain
of Title C. Property profile D. A Title wave Correct Answers
B. Chain of Title
A commercial tenant offers a bank his showcase, furniture,
paintings and other items that he has placed in the rental
property. The tenant would execute which of the following in
favor of the bank? Correct Answers CORRECT ANSWER: A
security agreement
A contract states that the taxes be prorated between the buyer
and seller. The taxes have been paid in advance. The proper
entry on the closing statement is: Correct Answers CORRECT
ANSWER: Credit the seller and debit the buyer
A defeasance clause would apply to: Correct Answers
CORRECT ANSWER: Deed of trust
A definition of involuntary alienation is: Correct Answers
CORRECT ANSWER: Title to property can be conveyed by
action of the court
,A devise is an example of a/an _____________ conveyance.
Correct Answers CORRECT ANSWER: Testamentary
A group of local real estate brokers are having their annual
meeting. What topic should be avoided in their conversation?
Correct Answers CORRECT ANSWER: Discussion of their
personal commission schedules
A landlord is obligated to account for the residential tenant's
security deposit within: Correct Answers CORRECT
ANSWER: Fourteen days of lease termination and demand
A landlord takes an application for the rental of a one-bedroom
unit from a married couple with no children, and then from a
single woman with two children under age two. The landlord
rents to the married couple over the single woman because the
woman has two children. Assuming all other things are equal
(i.e. credit, income, references etc.), has the landlord engaged in
unlawful discrimination? Correct Answers CORRECT
ANSWER: No. An occupancy limitation of two persons per
bedroom residing in a dwelling unit is presumed reasonable
according to Arizona law
A landlord takes an application for the rental of a one-bedroom
unit from a married couple with no children, and then from a
single woman with two children under age two. The landlord
rents to the married couple over the single woman because the
woman has two children. Assuming all other things are equal
(i.e. credit, income, references etc.), has the landlord engaged in
unlawful discrimination? A. Yes. He is discriminating against
the single woman because she has two children B. Yes, because
, having children is considered to be a handicap according to
Arizona law C. No. An occupancy limitation of two persons per
bedroom residing in a dwelling unit is presumed reasonable
according to Arizona law D. No. He is simply giving preference
to the married couple because they do not have children Correct
Answers No. An occupancy limitation of two persons per
bedroom residing in a dwelling unit is presumed reasonable
according to Arizona law
A lease in which the lessor receives a fixed rent and assumes
responsibility for all other costs on the property is call a/an:
Correct Answers CORRECT ANSWER: Gross lease
A listing agent is given confidential information by the seller.
The listing agent then gives this information to the selling agent.
Which best describes this activity? Correct Answers
CORRECT ANSWER: It is a breach of fiduciary duties
A listing agreement is a mutual agreement between a broker and
a principal and is considered: A. An agreement of sale B. A
contract of sale C. An authorization to sell D. A purchase
contract Correct Answers C. An authorization to sell
A man may take depreciation for income tax purposes on all of
the following EXCEPT: A. A home rented to friends B. A
vacant duplex C. Land held for future profit D. An apartment
building Correct Answers C. Land held for future profit
A monetary judgment by the court is: Correct Answers
CORRECT ANSWER: An involuntary lien on the personalty
and realty of the subject debtor
A bank refuses to lend a married woman money because, even
though she qualifies on her own, they want her husband to co-
sign the loan with her. The bank is guilty of violating: A. The
Federal Equal Credit Opportunity Act B. The Federal Fair
Housing Act C. The Civil Rights Act of 1968 D. RESPA
Correct Answers A. The Federal Equal Credit Opportunity Act
A borrower pays off his loan. However, the lender refuses to
cancel the mortgage. Which of the following clauses of a
mortgage has the lender violated? Correct Answers CORRECT
ANSWER: Defeasance clause
A broker sends a licensee to one of his listings to get the
licensees opinion of value. Which of the following statements is
true? Correct Answers CORRECT ANSWER: This activity is
legal
A broker's listing agreement expired two weeks ago, and the
seller has re-listed with another agency. However, that broker
now has an interested buyer. In showing the property to this
prospective buyer, which of the following is true? A. The broker
cannot discuss any offers he received on the property while he
was the listing agent B. The broker now becomes a dual agent
and must represent both parties equally C. The broker cannot
disclose any information about the property's physical condition
he received or became aware of while he was the listing agent
D. The broker cannot represent this buyer until at least sixty
days after the original listing agreement expires Correct
,Answers A. The broker cannot discuss any offers he received
on the property while he was the listing agent
A buyer purchases property with a homeowner's association that
has CC&Rs. Where would the CC&R's most likely be found?
Correct Answers CORRECT ANSWER: County recorder's
office
A chronological document showing conveyance of property
from one owner another is called: A. Abstract of Title B. Chain
of Title C. Property profile D. A Title wave Correct Answers
B. Chain of Title
A commercial tenant offers a bank his showcase, furniture,
paintings and other items that he has placed in the rental
property. The tenant would execute which of the following in
favor of the bank? Correct Answers CORRECT ANSWER: A
security agreement
A contract states that the taxes be prorated between the buyer
and seller. The taxes have been paid in advance. The proper
entry on the closing statement is: Correct Answers CORRECT
ANSWER: Credit the seller and debit the buyer
A defeasance clause would apply to: Correct Answers
CORRECT ANSWER: Deed of trust
A definition of involuntary alienation is: Correct Answers
CORRECT ANSWER: Title to property can be conveyed by
action of the court
,A devise is an example of a/an _____________ conveyance.
Correct Answers CORRECT ANSWER: Testamentary
A group of local real estate brokers are having their annual
meeting. What topic should be avoided in their conversation?
Correct Answers CORRECT ANSWER: Discussion of their
personal commission schedules
A landlord is obligated to account for the residential tenant's
security deposit within: Correct Answers CORRECT
ANSWER: Fourteen days of lease termination and demand
A landlord takes an application for the rental of a one-bedroom
unit from a married couple with no children, and then from a
single woman with two children under age two. The landlord
rents to the married couple over the single woman because the
woman has two children. Assuming all other things are equal
(i.e. credit, income, references etc.), has the landlord engaged in
unlawful discrimination? Correct Answers CORRECT
ANSWER: No. An occupancy limitation of two persons per
bedroom residing in a dwelling unit is presumed reasonable
according to Arizona law
A landlord takes an application for the rental of a one-bedroom
unit from a married couple with no children, and then from a
single woman with two children under age two. The landlord
rents to the married couple over the single woman because the
woman has two children. Assuming all other things are equal
(i.e. credit, income, references etc.), has the landlord engaged in
unlawful discrimination? A. Yes. He is discriminating against
the single woman because she has two children B. Yes, because
, having children is considered to be a handicap according to
Arizona law C. No. An occupancy limitation of two persons per
bedroom residing in a dwelling unit is presumed reasonable
according to Arizona law D. No. He is simply giving preference
to the married couple because they do not have children Correct
Answers No. An occupancy limitation of two persons per
bedroom residing in a dwelling unit is presumed reasonable
according to Arizona law
A lease in which the lessor receives a fixed rent and assumes
responsibility for all other costs on the property is call a/an:
Correct Answers CORRECT ANSWER: Gross lease
A listing agent is given confidential information by the seller.
The listing agent then gives this information to the selling agent.
Which best describes this activity? Correct Answers
CORRECT ANSWER: It is a breach of fiduciary duties
A listing agreement is a mutual agreement between a broker and
a principal and is considered: A. An agreement of sale B. A
contract of sale C. An authorization to sell D. A purchase
contract Correct Answers C. An authorization to sell
A man may take depreciation for income tax purposes on all of
the following EXCEPT: A. A home rented to friends B. A
vacant duplex C. Land held for future profit D. An apartment
building Correct Answers C. Land held for future profit
A monetary judgment by the court is: Correct Answers
CORRECT ANSWER: An involuntary lien on the personalty
and realty of the subject debtor
