ASREB (Arizona School of Real Estate and Business)
LAW, ADRE, AND LICENSING Top quality Exam
Review guide Questions and Answers 2025/2026
An Arizona real estate licensee may not charge for document preparation according to:
A. Statute of Frauds
B. Commissioner's Rules
C. Sherman Antitrust Act
D. Arizona Constitution Article 26 - correct answer D. Arizona Constitution Article 26
By what power does the State have the right to license brokers and salespeople?
A. Enabling powers
B. FTC
C. 1968 Federal Consumer Protection Law
D. Police power - correct answer D. Police power
To hold a real estate license in Arizona, an individual must fulfill all of the following
requirements EXCEPT:
A. have a high school diploma
B. be of legal age
C. be of good moral character
D. fulfill an education requirement - correct answer A. have a high school diploma
To be an agent, an individual:
, A. is required to be licensed to one broker only
B. can be licensed to no more than two brokers
C. need not be licensed to a broker
D. needs to be licensed to a developer-builder to show new homes - correct answer A.
is required to be licensed to one broker only
Which of the following persons needs a real estate license?
A. Attorney-in-fact selling a residence for a principal
B. Attorney-in-fact who is acting as a broker
C. Attorney at law selling a residence to settle a client's estate
D. Licensed personal property broker acting under their own license] - correct answer
B. Attorney-in-fact who is acting as a broker
An active salesperson's license:
A. authorizes the salesperson to transact business in any broker's office
B. must be available for review by the public
C. remains in the broker's possession if the broker's license is cancelled
D. is good for only one calendar year at a time - correct answer B. must be available
for review by the public
Each day, property manager Q manages five properties and receives an apartment in
one of the properties free of charge from the owner. Q:
A. has to have a real estate license
B. has to be a Certified Property Manager
C. does not need a real estate license
D. cannot receive a free apartment because it is against the Rules & Regs - correct
answer A. has to have a real estate license
LAW, ADRE, AND LICENSING Top quality Exam
Review guide Questions and Answers 2025/2026
An Arizona real estate licensee may not charge for document preparation according to:
A. Statute of Frauds
B. Commissioner's Rules
C. Sherman Antitrust Act
D. Arizona Constitution Article 26 - correct answer D. Arizona Constitution Article 26
By what power does the State have the right to license brokers and salespeople?
A. Enabling powers
B. FTC
C. 1968 Federal Consumer Protection Law
D. Police power - correct answer D. Police power
To hold a real estate license in Arizona, an individual must fulfill all of the following
requirements EXCEPT:
A. have a high school diploma
B. be of legal age
C. be of good moral character
D. fulfill an education requirement - correct answer A. have a high school diploma
To be an agent, an individual:
, A. is required to be licensed to one broker only
B. can be licensed to no more than two brokers
C. need not be licensed to a broker
D. needs to be licensed to a developer-builder to show new homes - correct answer A.
is required to be licensed to one broker only
Which of the following persons needs a real estate license?
A. Attorney-in-fact selling a residence for a principal
B. Attorney-in-fact who is acting as a broker
C. Attorney at law selling a residence to settle a client's estate
D. Licensed personal property broker acting under their own license] - correct answer
B. Attorney-in-fact who is acting as a broker
An active salesperson's license:
A. authorizes the salesperson to transact business in any broker's office
B. must be available for review by the public
C. remains in the broker's possession if the broker's license is cancelled
D. is good for only one calendar year at a time - correct answer B. must be available
for review by the public
Each day, property manager Q manages five properties and receives an apartment in
one of the properties free of charge from the owner. Q:
A. has to have a real estate license
B. has to be a Certified Property Manager
C. does not need a real estate license
D. cannot receive a free apartment because it is against the Rules & Regs - correct
answer A. has to have a real estate license
