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ASREB FINAL EXAM LATEST 2025 ACTUAL EXAM|
COMPLETE 400+ ACCURATE QUESTIONS AND
VERIFIED ANSWERS (100% CORRECT ANSWERS)
ALREADY GRADED A+ (NEWEST!!)
The type of mortgage where the lender pays the borrower based on the equity of a home is called? - ANSWER - Reverse annuity
Which of the following is not a type of insurance that protects a real estate broker from liability? - ANSWER - Umbrella insurance
When property zoning is changed from single-family to commercial usage,
this change would be called: - ANSWER - Up zoning
When must a licensee report a criminal conviction to the real estate department? - ANSWER - 10 days
If a buyer fails to perform under a real estate purchase contract, the seller’s
recourse is: - ANSWER - A suit for damages, or call for forfeiture of the
earnest money as liquidated damages
When an easement only has a servient tenement, it would be an easement:
- ANSWER - in gross
When can the tax on capital gains be deferred? - ANSWER - Property exchange 1 / 4
pg. 2 What clarifies ADRE position on statutes or rules? - ANSWER - Substantive policy statements
In order to obtain an easement by prescription you need: - ANSWER - To
use the property
Two lots are sold for $180,500. One lot sold for 18% more than the other.What was the amount of the more expensive lot? - ANSWER - $97,701.84
Who supervises a salesperson when they are managing properties owned by another person? - ANSWER - Designated broker
East and west boundaries in a government survey are? - ANSWER - Baselines
Who gives instructions to sign the deed of reconveyance? - ANSWER - Beneficiary
An agent is getting ready to list a property the agent is interested in buying.What should the agent do? - ANSWER - Tell the seller because it could affect the price the seller will accept
Most states discouraged net listings because? - ANSWER - Ineffective for the broker not to present the offer
Seller tells the broker they would like to sell the property furnished. The
agent should do all of the following except: - ANSWER - Add personal
property to the deed 2 / 4
pg. 3 When are homeowner associations required to meet? - ANSWER - Annually
A lease in which the lesser completes improvements to allow lessee to
immediately start business is: - ANSWER - Turnkey lease
What happens when a broker’s license expires? - ANSWER - The salespeople must find another broker
An area or easement that restricts and preserves land in an undeveloped state is? - ANSWER - Natural area open space
What is the redemption period in a mortgage foreclosure? - ANSWER - 6 months
Which of the following organizations represents licensees? - ANSWER - National Association of REALTORS
A broker and an unlicensed buyer are looking to buy the same house. What must a broker disclose? - ANSWER - He can buy the property if he discloses, he has a license
Which of the following is a limitation of use of property by the government?
- ANSWER - Police power
A broker is a property manager for an owner and collects monthly rents.The owner dies. What is the status of the property management agreement? - ANSWER - Terminated upon death of the owner
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pg. 4 What items would be exceptions to ALTA policy? - ANSWER - Zoning
Which of the following is required in a dual agency disclosure? - ANSWER - A sales person in a branch office of a company that represents the buyer and an associate company that represents the seller
A real estate licensee would like to hold a membership camping license, which of the following is true? - ANSWER - It is lawful to hold both licenses concurrently
Two people own a property, one passes away. How is title held if the heirs received no interest in the property? - ANSWER - Joint tenancy
A house rents for $980 per month. Property sold and closes escrow April 15th. What is the proration of rent at closing? - ANSWER - Credit buyer
$522.67
Taxes are $915 per year. Seller paid the first half. COE is on November 16th. What is the proration using a statutory year? - ANSWER - $343 debit seller
What is paid at close of escrow? - ANSWER - Title insurance
Which of the following would be a covenant in a deed: - ANSWER - Quiet
enjoyment
When a minor enters into a real estate contract, the status of the contract
is: - ANSWER - Voidable by minor
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