ASREB (Arizona School of Real Estate and Business)
practice test exam Questions with complete solutions
verified by experts 2025/2026
How much time does a tenant have to pay past due rent and late fees after receiving
written notice from the landlord? - correct answer five days
Andrew's neighbor has been crossing his property to get to a state lake. In order to
prevent his neighbor from gaining an easement to cross his land, what action should
Andrew take? - correct answer send te neighbor a registered letter, receipt requested,
granting him permission to cross the property for one or more days.
Sarah and Joe, a married couple, decide they must sell their home to satisfy unpaid
taxes, credit card and other debt. How much will the creditors receive if the home nets
$250,000 after paying off the mortgage? - correct answer up to $250,000
Sunshine Realty has developed a website advertising the brokerage's main office. What
information must the site include? - correct answer the name, address, and phone
number of the home office and states in which the firm holds licenses
a married, but legal separated, couple live in AZ. the husband lists the summer home
they purchases together for the sale in Tucson and receives a very attractive offer. A
sales contract would be considered: - correct answer void, as mutual consent to sell
wasn't granted
The public report is : - correct answer Issued by the Arizona Department of Real Estate
Which of the following is not a typical type of real estate brokerage office, in regards to
how commissions are paid? - correct answer full-time salary and benefits office
where do common laws primarily come from? - correct answer common laws primarily
come from customs and judicial precedent
the most common type of deed used in Az is a: - correct answer warranty deed
, How soon after closing must deeds of conveyance be recorded? - correct answer the
next business day
the advisory board consists of ____ members who serve for _______ years each -
correct answer 10, 6
what water rights doctrine is followed in AZ - correct answer first in time is first in right
how much money should be in the recovery fund in the AZ department of real estate at
the end of the fiscal year - correct answer $600,000
susan is a licensed salesperson who is selling her home on her own rather than through
her broker. What information must she include in any ads? - correct answer the fact
that she is licensed real estate salesperson
carol took her required continuing education courses on time but failed to notify the
state by submitting her hours on time. what happens to her license now? - correct
answer she enters into a grace period of 1 year
what is a real estate commissioner supposed to do with written complaints - correct
answer investigate anytime theyre filled
under the terms of the contract, a seller is required to provide a termite certificate and
requests his agent to order one. The agent does, and chooses a company he knows will
pay him a referral fee. is this a violation of license law? - correct answer Yes, licensees
may not receive referral fees.
how does vacation ownership differ from a timeshare? - correct answer vacation
ownership is a license to use
what is the usury ceiling for real estate loans in Az? - correct answer none
practice test exam Questions with complete solutions
verified by experts 2025/2026
How much time does a tenant have to pay past due rent and late fees after receiving
written notice from the landlord? - correct answer five days
Andrew's neighbor has been crossing his property to get to a state lake. In order to
prevent his neighbor from gaining an easement to cross his land, what action should
Andrew take? - correct answer send te neighbor a registered letter, receipt requested,
granting him permission to cross the property for one or more days.
Sarah and Joe, a married couple, decide they must sell their home to satisfy unpaid
taxes, credit card and other debt. How much will the creditors receive if the home nets
$250,000 after paying off the mortgage? - correct answer up to $250,000
Sunshine Realty has developed a website advertising the brokerage's main office. What
information must the site include? - correct answer the name, address, and phone
number of the home office and states in which the firm holds licenses
a married, but legal separated, couple live in AZ. the husband lists the summer home
they purchases together for the sale in Tucson and receives a very attractive offer. A
sales contract would be considered: - correct answer void, as mutual consent to sell
wasn't granted
The public report is : - correct answer Issued by the Arizona Department of Real Estate
Which of the following is not a typical type of real estate brokerage office, in regards to
how commissions are paid? - correct answer full-time salary and benefits office
where do common laws primarily come from? - correct answer common laws primarily
come from customs and judicial precedent
the most common type of deed used in Az is a: - correct answer warranty deed
, How soon after closing must deeds of conveyance be recorded? - correct answer the
next business day
the advisory board consists of ____ members who serve for _______ years each -
correct answer 10, 6
what water rights doctrine is followed in AZ - correct answer first in time is first in right
how much money should be in the recovery fund in the AZ department of real estate at
the end of the fiscal year - correct answer $600,000
susan is a licensed salesperson who is selling her home on her own rather than through
her broker. What information must she include in any ads? - correct answer the fact
that she is licensed real estate salesperson
carol took her required continuing education courses on time but failed to notify the
state by submitting her hours on time. what happens to her license now? - correct
answer she enters into a grace period of 1 year
what is a real estate commissioner supposed to do with written complaints - correct
answer investigate anytime theyre filled
under the terms of the contract, a seller is required to provide a termite certificate and
requests his agent to order one. The agent does, and chooses a company he knows will
pay him a referral fee. is this a violation of license law? - correct answer Yes, licensees
may not receive referral fees.
how does vacation ownership differ from a timeshare? - correct answer vacation
ownership is a license to use
what is the usury ceiling for real estate loans in Az? - correct answer none
