ASREB (Arizona School of Real Estate and Business) broker
licensing Certification Study Guide Exam Questions with
Certified for Accuracy Answers 2025/2026
A site plan includes all of the following EXCEPT - correct answer A building envelope
When a broker has earned a commission but the seller refuses to pay for no apparent
reason, which of the following statements would be incorrect - correct answer The
broker may place a commission lien on the property in order to postpone the property
transfer
Which article of Az constitution created state trust land - correct answer 10
The cases Kelo v New London and Bailey v City of Mesa dealt with - correct answer
Eminent domain
Which of the following bankruptcy chapters allows for liquidation of a debtors assets -
correct answer Seven
A parcel of land that benefits from an easement is known as the - correct answer
Dominant estate
Distributed ledger technology that uses a distributed, decentralized, shared and
replicated ledger, and on which the data on the ledger is protected with cryptography, is
immutable and auditable and provides an uncensored truth is a - correct answer
Blockchain
A document recoded to give notice of an optionee's rights and usually does not include
the terms of the option is a - correct answer Memorandum of option
Brokerage companies that are LLCs - correct answer May be manager managed or
member managed
, A buyer pays $175,000 for an office building with $25,000 as a down payment. Over six
years the buyers pay $12,000 on the mortgage of which 50% is interest. Disregarding
interest , what percentage of the purchase price has the buyer paid ? - correct answer
18
A lender is placing a $400,000 loan. The borrower will not be charged an origination fee
on the first $50,000 but will pay $4.20 for each $1000 of loan amount over $50,000. The
origination fee will be - correct answer $1470
A piece of property sells for $125 an acre and the sales price is $185,000. What is the
size of the property - correct answer 1480 acres
A tenant vacates a property having done $1250 worth of damage. The tenant also left
an X-Box valued at $250 in the pro. The tenant contacts the property manager within 10
days and demands the return of the X-box and the $1000 security deposit . The
manager - correct answer Must return the Xbox but may keep the $1000 security
deposit
Which is the first step in the foreclosure of a tax lien - correct answer Notice is sent to
the property owner
long-term capital gain treatment applies if the property has been held more than -
correct answer 12 months
A loan provision that makes different properties ( real or personal) collateral for the
same loan is a - correct answer Cross- collateralization clause
A judgement is entered against a debtor who owns 3 properties. The judgment is alien
against - correct answer All three properties
A property sells for $55,000 with a 6% commission paid to the broker. The salesperson
gets paid based on a 2:3 ratio split with the salesperson receiving the higher portion of
the ratio. The salesperson's share would be - correct answer $1980
licensing Certification Study Guide Exam Questions with
Certified for Accuracy Answers 2025/2026
A site plan includes all of the following EXCEPT - correct answer A building envelope
When a broker has earned a commission but the seller refuses to pay for no apparent
reason, which of the following statements would be incorrect - correct answer The
broker may place a commission lien on the property in order to postpone the property
transfer
Which article of Az constitution created state trust land - correct answer 10
The cases Kelo v New London and Bailey v City of Mesa dealt with - correct answer
Eminent domain
Which of the following bankruptcy chapters allows for liquidation of a debtors assets -
correct answer Seven
A parcel of land that benefits from an easement is known as the - correct answer
Dominant estate
Distributed ledger technology that uses a distributed, decentralized, shared and
replicated ledger, and on which the data on the ledger is protected with cryptography, is
immutable and auditable and provides an uncensored truth is a - correct answer
Blockchain
A document recoded to give notice of an optionee's rights and usually does not include
the terms of the option is a - correct answer Memorandum of option
Brokerage companies that are LLCs - correct answer May be manager managed or
member managed
, A buyer pays $175,000 for an office building with $25,000 as a down payment. Over six
years the buyers pay $12,000 on the mortgage of which 50% is interest. Disregarding
interest , what percentage of the purchase price has the buyer paid ? - correct answer
18
A lender is placing a $400,000 loan. The borrower will not be charged an origination fee
on the first $50,000 but will pay $4.20 for each $1000 of loan amount over $50,000. The
origination fee will be - correct answer $1470
A piece of property sells for $125 an acre and the sales price is $185,000. What is the
size of the property - correct answer 1480 acres
A tenant vacates a property having done $1250 worth of damage. The tenant also left
an X-Box valued at $250 in the pro. The tenant contacts the property manager within 10
days and demands the return of the X-box and the $1000 security deposit . The
manager - correct answer Must return the Xbox but may keep the $1000 security
deposit
Which is the first step in the foreclosure of a tax lien - correct answer Notice is sent to
the property owner
long-term capital gain treatment applies if the property has been held more than -
correct answer 12 months
A loan provision that makes different properties ( real or personal) collateral for the
same loan is a - correct answer Cross- collateralization clause
A judgement is entered against a debtor who owns 3 properties. The judgment is alien
against - correct answer All three properties
A property sells for $55,000 with a 6% commission paid to the broker. The salesperson
gets paid based on a 2:3 ratio split with the salesperson receiving the higher portion of
the ratio. The salesperson's share would be - correct answer $1980
