Arizona School of Real Estate and Business (ASREB)
specific B1-B3 Actual preparation test exam with Thorough
and Correct Answers Updated 2025/2026
Enforceable real estate contracts must be in writing due to the: - correct answer
Statute of frauds
A person giving information about a subdivision needs a: - correct answer Real estate
license
The commissioner can refuse to issue a subdivision public report if: - correct answer
The subdivider has previous fraud convictions
In Arizona the right of the licensee to prepare certain legal documents land forms comes
from: - correct answer Arizona constitution
A subdivider must be able to give the purchaser: - correct answer Permanent access
The real estate commissioner cannot: - correct answer Hold an active RE license
If a buyer buys a parcel of land, in which public report was required but was not issued
the buyer may void the sale within: - correct answer 3 years
A real estate brokerage is not required to have a: - correct answer General trust
account
A salesperson can be a signatory on a: - correct answer Brokers sales trust account
In order to renew a salesperson licensee you need how many hours of continuing
education every 2 years? - correct answer 24 hours
, Responsibilities of a real estate agent: - correct answer 1. Inform the RE department of
change of address in 10 days
2. Turn over earnest money to broker
3. Act as a subagent
Regarding a broker trust account: - correct answer 1. It may be interest bearing
2. A salesperson may be a signatory
3. May contain up to $500 of brokers personal funds
A real estate broker does NOT have to maintain a: - correct answer Neural trust
account
An active salespersons license must be: - correct answer On file with the broker
A broker can be charged an administrative fine up to: - correct answer $1000
A temporary brokers license can be obtained if: - correct answer 1. Broker dies
2. Broker declared insane
3. Broker injured
(Not for an extended vaca)
A subdivision public report is NOT required on: - correct answer Commercial lots
Upon conviction of felony an agent must notify the RE department within: - correct
answer 10 days
Inducing a party to breach a contract would be: - correct answer A violation of the
commissioners rules
specific B1-B3 Actual preparation test exam with Thorough
and Correct Answers Updated 2025/2026
Enforceable real estate contracts must be in writing due to the: - correct answer
Statute of frauds
A person giving information about a subdivision needs a: - correct answer Real estate
license
The commissioner can refuse to issue a subdivision public report if: - correct answer
The subdivider has previous fraud convictions
In Arizona the right of the licensee to prepare certain legal documents land forms comes
from: - correct answer Arizona constitution
A subdivider must be able to give the purchaser: - correct answer Permanent access
The real estate commissioner cannot: - correct answer Hold an active RE license
If a buyer buys a parcel of land, in which public report was required but was not issued
the buyer may void the sale within: - correct answer 3 years
A real estate brokerage is not required to have a: - correct answer General trust
account
A salesperson can be a signatory on a: - correct answer Brokers sales trust account
In order to renew a salesperson licensee you need how many hours of continuing
education every 2 years? - correct answer 24 hours
, Responsibilities of a real estate agent: - correct answer 1. Inform the RE department of
change of address in 10 days
2. Turn over earnest money to broker
3. Act as a subagent
Regarding a broker trust account: - correct answer 1. It may be interest bearing
2. A salesperson may be a signatory
3. May contain up to $500 of brokers personal funds
A real estate broker does NOT have to maintain a: - correct answer Neural trust
account
An active salespersons license must be: - correct answer On file with the broker
A broker can be charged an administrative fine up to: - correct answer $1000
A temporary brokers license can be obtained if: - correct answer 1. Broker dies
2. Broker declared insane
3. Broker injured
(Not for an extended vaca)
A subdivision public report is NOT required on: - correct answer Commercial lots
Upon conviction of felony an agent must notify the RE department within: - correct
answer 10 days
Inducing a party to breach a contract would be: - correct answer A violation of the
commissioners rules
