ASREB (Arizona School of Real Estate and Business)
(ASREB) Exam knowledge Questions with Expertly written
solution 2025/2026
A definition of involuntary alienation is: - correct answer Title to property can be
conveyed by action of the court
Adverse possession is gained by: - correct answer Living open and hostile on a
property for 10 years
If a broker in AZ is giving another broker in CA a $500 fee for a buyer moving to AZ.
Who does this information have to be disclosed to? - correct answer No one
A real estate license he gets contracted with a large bank to handle all of their local
BPO's. Who can the bank make payment to the BPOfor? - correct answer Only the
licensees broker
Bob and Mary have decided to purchase a house from a real estate auction. Which of
the following is true? - correct answer The auctioneer needs a license
An auctioneer may only auction real property in the state of Arizona if: - correct answer
The auctioneer is licensed with a licensed employing brokerage
A defeasance clause would apply to: - correct answer Deed of trust
In an agreement for sale, when does title convey? - correct answer Upon the last
payment
If no beds are made at a tax foreclosure sale: - correct answer A tax lien can later be
purchased from the County Treasurer by anyone
, Who benefits from the assignment of rents clause? - correct answer Beneficiary
Once the trustee sale has occurred in the foreclosure of a trusted, the trustor has: -
correct answer No further right to redeem
The seller has paid the full tax bill when received, and then closes escrow on the
subject house on March 31 of the following year. The prorations for the seller and buyer
would be: - correct answer Debit to the seller for three months of the current year's
taxes and credit the buyer for the same amount based on last year's tax bill
Net spendable income is also known as: - correct answer After tax cash flow
A property management company hires employees to supervise residential units. The
company is covered in the event that employees steal or misappropriate monies. What
would best describe the type of coverage? - correct answer Security Bond
If there is a material noncompliance by a landlord or a tenant with the rental agreement,
the nonbreaching party may deliver a written notice to the breaching party specifying the
acts and omissions constituting the breach and the rental agreement will terminate as
follows: - correct answer If there is no effect upon the health and safety of tenant, the
rental agreement will terminate upon a date not less than 10 days after the receipt of the
notice if the breach is not remedied within 10 days
Before fixing a minor defect, a tenant must give the landlord how many days notice to
repair the defect? - correct answer Ten
Sales purchase price is $175,000. The buyer puts $8750 down and obtains a 85% loan
from the bank. The balance of the down payment needed from the buyer excluding
closing costs would be: - correct answer $17500
A loan is paid in full but the release is never recorded. What is true? - correct answer A
cloud remains on title
(ASREB) Exam knowledge Questions with Expertly written
solution 2025/2026
A definition of involuntary alienation is: - correct answer Title to property can be
conveyed by action of the court
Adverse possession is gained by: - correct answer Living open and hostile on a
property for 10 years
If a broker in AZ is giving another broker in CA a $500 fee for a buyer moving to AZ.
Who does this information have to be disclosed to? - correct answer No one
A real estate license he gets contracted with a large bank to handle all of their local
BPO's. Who can the bank make payment to the BPOfor? - correct answer Only the
licensees broker
Bob and Mary have decided to purchase a house from a real estate auction. Which of
the following is true? - correct answer The auctioneer needs a license
An auctioneer may only auction real property in the state of Arizona if: - correct answer
The auctioneer is licensed with a licensed employing brokerage
A defeasance clause would apply to: - correct answer Deed of trust
In an agreement for sale, when does title convey? - correct answer Upon the last
payment
If no beds are made at a tax foreclosure sale: - correct answer A tax lien can later be
purchased from the County Treasurer by anyone
, Who benefits from the assignment of rents clause? - correct answer Beneficiary
Once the trustee sale has occurred in the foreclosure of a trusted, the trustor has: -
correct answer No further right to redeem
The seller has paid the full tax bill when received, and then closes escrow on the
subject house on March 31 of the following year. The prorations for the seller and buyer
would be: - correct answer Debit to the seller for three months of the current year's
taxes and credit the buyer for the same amount based on last year's tax bill
Net spendable income is also known as: - correct answer After tax cash flow
A property management company hires employees to supervise residential units. The
company is covered in the event that employees steal or misappropriate monies. What
would best describe the type of coverage? - correct answer Security Bond
If there is a material noncompliance by a landlord or a tenant with the rental agreement,
the nonbreaching party may deliver a written notice to the breaching party specifying the
acts and omissions constituting the breach and the rental agreement will terminate as
follows: - correct answer If there is no effect upon the health and safety of tenant, the
rental agreement will terminate upon a date not less than 10 days after the receipt of the
notice if the breach is not remedied within 10 days
Before fixing a minor defect, a tenant must give the landlord how many days notice to
repair the defect? - correct answer Ten
Sales purchase price is $175,000. The buyer puts $8750 down and obtains a 85% loan
from the bank. The balance of the down payment needed from the buyer excluding
closing costs would be: - correct answer $17500
A loan is paid in full but the release is never recorded. What is true? - correct answer A
cloud remains on title
