ASREB (Arizona School of Real Estate and Business) Test
Exam Review Questions with all Answers verified for
accuracy Updated 2025/2026
What does the gross rent multiplier indicate - correct answer A factor of rents to price
What is the smallest unit of measurement - correct answer Lot and Block
A plat map would include everything EXCEPT - correct answer Buildings
Markers and degrees are found in what type of survey - correct answer Metes an
Bounds
In a correctional township, fractional sections are - correct answer North and West
How many townships are in a 24-mile square - correct answer 16
A plat map shows everything EXCEPT - correct answer Orientation of structure
What is NOT part of a plat map description - correct answer Monuments
From the point of beginning, go south 1,200ft, thence west 1,500ft, thence north 600ft
thence back to the point of beginning. How many acres are contained in the above
description - correct answer 31 acres
Start in the middle of section 16 and go south 1,320ft thence north 1,320ft thence north
1,320ft and back to the point of beginning. How many acres are contained in this
description? - correct answer 40
Smallest area of a survey would most likely be - correct answer Lot and Block
,How many acres would be contained in the following legal description: SE4, SW4; S2
NW4 and the SE4 NE4; N2 S2 Sec. 22 - correct answer 320 Acres
How many townships are contained in a government survey "check" - correct answer
16
A broker sold the SW1/4 of the southwest 1/4 of the southwest 1/4, and the W 1/2 of the
northwest 1/4 of Section 26, Township 4, Range 3, Est. How many acres are included in
the sale? - correct answer 90
What is the total number of acres in the Sw 1/4 and the NW 1/4 of section 18 - correct
answer 320 acres
The N 1/2 of the NW 1/4 of the SW 1/4 of section 32 contains - correct answer 20acres
Which sections are contiguous to section 6 in a township - correct answer 1 and 7
Beginning at the SW corner of section 16, go to the SW corner of Section 15, thence to
the point of beginning. How many acres are contained in this area - correct answer
320
When would a plat map be used - correct answer Subdivisions
If you were given boundaries, easements, and measurements but not the orientation of
the house, what type of survey would this be? - correct answer Lot and Block
A method of legal description that uses definite property lines and starting points is
called - correct answer Formal metes and bounds
A township contains which of the following - correct answer 23,040 acres
,A topography map would show what type of survey - correct answer Contour map
What does a seller usually pay for at closing - correct answer Deed preperation
On a settlement sheet, what is usually true - correct answer Buyer credited for unpaid
taxes
A row of townships are called - correct answer Tiers
A row of tiers are known as - correct answer Townships
Township 5 north range 7 west is located how far from principal meridian - correct
answer 36-42 miles
The distance around a quarter of section 16 in a specific township would be - correct
answer 2 miles
An apartment has 2 units at $900 per month each and 2 at $550 per month each. The
rents are paid the first of the month in advance, and the close of escrow is June 10th.
How much will the buyer receive - correct answer $1,933
A property is appraised at $85,000 property is assessed at 65% tax rate is 1.85 per
$100 of assessed value. The owner sells the property and the close of escrow is August
15th, taxes were paid for the calendar year. What will the settlement sheet show -
correct answer $386.14 credit to the seller
Who at closing signs the settlement statement form - correct answer Buyer, seller, and
escrow agent
How does a seller close on a purchase contract - correct answer Deliver the deed to
escrow
, Water table is defined as - correct answer The level at which the water will be located
when constructing a home, the foundation would rest on which of the following - correct
answer Footing
If a parcel of real estate is near a toxic waste site, the agent would be obligated to -
correct answer Disclose the fact
A broker is required to give copies of all documents to which of the following parties -
correct answer All parties associated with the transaction
The world friable would most likely apply to which of the following - correct answer
Asbestos
cash-on-cash return is - correct answer Money received on equity
A retail store has been in the same spot for 20 years. The land around the store is sold
for a housing development. Which is true regarding the retail store - correct answer
The store is grandfathered in
A real estate company tells another real estate company not to list properties in their
area. Both companies agree not to do business in each others area. This practice would
be in violation of which of the following - correct answer Anti-Trust
The taxes for the year are $1,824. The close of escrow is April 15th. What is the
proration at the close of escrow - correct answer $526.93 debit to the seller
When a loan is sold from one lender to another lender it is - correct answer Assigned
When a wrap around is created who is responsible for the underlying loan - correct
answer Vendor
Exam Review Questions with all Answers verified for
accuracy Updated 2025/2026
What does the gross rent multiplier indicate - correct answer A factor of rents to price
What is the smallest unit of measurement - correct answer Lot and Block
A plat map would include everything EXCEPT - correct answer Buildings
Markers and degrees are found in what type of survey - correct answer Metes an
Bounds
In a correctional township, fractional sections are - correct answer North and West
How many townships are in a 24-mile square - correct answer 16
A plat map shows everything EXCEPT - correct answer Orientation of structure
What is NOT part of a plat map description - correct answer Monuments
From the point of beginning, go south 1,200ft, thence west 1,500ft, thence north 600ft
thence back to the point of beginning. How many acres are contained in the above
description - correct answer 31 acres
Start in the middle of section 16 and go south 1,320ft thence north 1,320ft thence north
1,320ft and back to the point of beginning. How many acres are contained in this
description? - correct answer 40
Smallest area of a survey would most likely be - correct answer Lot and Block
,How many acres would be contained in the following legal description: SE4, SW4; S2
NW4 and the SE4 NE4; N2 S2 Sec. 22 - correct answer 320 Acres
How many townships are contained in a government survey "check" - correct answer
16
A broker sold the SW1/4 of the southwest 1/4 of the southwest 1/4, and the W 1/2 of the
northwest 1/4 of Section 26, Township 4, Range 3, Est. How many acres are included in
the sale? - correct answer 90
What is the total number of acres in the Sw 1/4 and the NW 1/4 of section 18 - correct
answer 320 acres
The N 1/2 of the NW 1/4 of the SW 1/4 of section 32 contains - correct answer 20acres
Which sections are contiguous to section 6 in a township - correct answer 1 and 7
Beginning at the SW corner of section 16, go to the SW corner of Section 15, thence to
the point of beginning. How many acres are contained in this area - correct answer
320
When would a plat map be used - correct answer Subdivisions
If you were given boundaries, easements, and measurements but not the orientation of
the house, what type of survey would this be? - correct answer Lot and Block
A method of legal description that uses definite property lines and starting points is
called - correct answer Formal metes and bounds
A township contains which of the following - correct answer 23,040 acres
,A topography map would show what type of survey - correct answer Contour map
What does a seller usually pay for at closing - correct answer Deed preperation
On a settlement sheet, what is usually true - correct answer Buyer credited for unpaid
taxes
A row of townships are called - correct answer Tiers
A row of tiers are known as - correct answer Townships
Township 5 north range 7 west is located how far from principal meridian - correct
answer 36-42 miles
The distance around a quarter of section 16 in a specific township would be - correct
answer 2 miles
An apartment has 2 units at $900 per month each and 2 at $550 per month each. The
rents are paid the first of the month in advance, and the close of escrow is June 10th.
How much will the buyer receive - correct answer $1,933
A property is appraised at $85,000 property is assessed at 65% tax rate is 1.85 per
$100 of assessed value. The owner sells the property and the close of escrow is August
15th, taxes were paid for the calendar year. What will the settlement sheet show -
correct answer $386.14 credit to the seller
Who at closing signs the settlement statement form - correct answer Buyer, seller, and
escrow agent
How does a seller close on a purchase contract - correct answer Deliver the deed to
escrow
, Water table is defined as - correct answer The level at which the water will be located
when constructing a home, the foundation would rest on which of the following - correct
answer Footing
If a parcel of real estate is near a toxic waste site, the agent would be obligated to -
correct answer Disclose the fact
A broker is required to give copies of all documents to which of the following parties -
correct answer All parties associated with the transaction
The world friable would most likely apply to which of the following - correct answer
Asbestos
cash-on-cash return is - correct answer Money received on equity
A retail store has been in the same spot for 20 years. The land around the store is sold
for a housing development. Which is true regarding the retail store - correct answer
The store is grandfathered in
A real estate company tells another real estate company not to list properties in their
area. Both companies agree not to do business in each others area. This practice would
be in violation of which of the following - correct answer Anti-Trust
The taxes for the year are $1,824. The close of escrow is April 15th. What is the
proration at the close of escrow - correct answer $526.93 debit to the seller
When a loan is sold from one lender to another lender it is - correct answer Assigned
When a wrap around is created who is responsible for the underlying loan - correct
answer Vendor
