ARIZONA REAL ESTATE EXAM 2024/2025 WITH
180 QUESTIONS AND 100%CORRECT ANSWERS
GRADED A
If the trust account is interest-bearing, then the interest must be cleared:
(a) Once annually (b) Once a month (c) Any time (d) Once a week - ANSWER-(a) Once annually
In an agency relationship confidentiality is part of:
(a) Accountability (b) Obedience (c) Skill and Care (d) Loyalty - ANSWER-(d) Loyalty
What is a violation of the Arizona Residential Landlord & Tenant Act?(a) Asking first & last month's rent plus 1 1/2 month's rent as security deposits without tenant's approval (b) Asking for a non-refundable pet deposit (c) Asking for non-refundable cleaning deposit regardless of property condition (d) Returning security deposit to the tenant within 14 days after lease termination - ANSWER-(a) Asking first & last month's rent plus 1 1/2 month's rent as security deposits without tenant's approval
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In one building, the tenant intends to start a health food shop using her life savings: in an identical adjacent building is a catalog store leased to Sears. Both have long- term leases at identical rents. Which of the following statements is correct?(a) If the values of the buildings were the same before the leases, the values will be the same after they are leased.(b) An appraiser would likely use a higher capitalization rate for the Sears store.(c) The building with the health food shop will be worth less than the other building.(d) The best appraisal would likely be the market comparison method. - ANSWER-(c) The building with the health food shop will be worth less than the other building.
Once a real estate license is issued in Arizona, it:
(a) Will remain in the possession of the licensee in all cases (b) Must be placed with a broker in order to earn a commission (c) Will be terminated if the licensee moves out of state (d) is valid for three years - ANSWER-(b) Must be placed with a broker in order to earn a commission
A property owner erected a block wall on the property. The block wall became real
property by which of the following:
(a) Deed Restriction (b) Easement appurtenant (c) Verbal declaration (d) Annexation - ANSWER-(b) Easement appurtenant
At what point does recordation take place?(a) At close of escrow date 2 / 4
(b) The date the document was signed (c) Docket and page number are assigned (d) The date the document was notarized - ANSWER-(c) Docket and page number are assigned
Which of the following is a term regularly used by Surveyors?(a) Benchmark (b) Bedrock (c) Beanms (d) Berm - ANSWER-(a) Benchmark
You borrow $14,400 at 9.25% .If the principal and interest is repaid in one payment at the end of seven months, what is the total payment?(a) $15.177 (b) $15,025 (c) $15.732 (d) $15.066 - ANSWER-(a) $15.177 1) 14,400 x 9.25% = 1332 (annual interest) 2) 1332 / 12 = 111 (monthly interest) 3) 111 x 7 = 777 (7 mo. interest) 4) 14,400 + 777 = 15,177 (pri. and int. payment on 7th mo)
The two designations or classifications of water law in Arizona are:
(a) Navigable and non-navigable (b) Ground and surface (c) Flowing and stagnant 3 / 4
(d) None of these - ANSWER-(b) Ground and surface
In order to acquire an easement by prescription you need:
(a) Open, hostile, continuous use (b) Legal action (c) Permission from the owner (d) Continuous use for 5 years - ANSWER-(a) Open, hostile, continuous use
If a property lies within the boundaries of the areas in which water rights are being
adjudicated, the owners:
(a) Must file a claim to be included in the court's decision (b) Must wait until the court decision is made before asserting a claim (c) Are not affected by the court action (d) Are automatically included in the court action - ANSWER-(a) Must file a claim to be included in the court's decision
You write an offer on another broker's listing. What should you do?(a) Wait a mandatory twelve hours, then present to seller (b) Have the buyer contact the seller to present offer (c) Contact the listing broker (d) Take the offer to the seller - ANSWER-(c) Contact the listing broker
A broker prepares documents at a cost of $35. Which of the following is true?(a) The broker may charge if it is considered an escrow fee (b) The broker may charge if the parties agree (c) The broker cannot charge tor the service
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