ASREB (Arizona School of Real Estate and Business) Post
test Exam Questions and Best Graded Guaranteed success
latest 2025/2026
Randon gas would primarily be found in - correct answer Underground minerals
environmental concerns that deal with small particles in the air would be - correct
answer Asbestos
When a broker misappropriates funds, this is called: - correct answer Conversion
An employer wants to be protected against employee's dishonesty, the employer should
obtain a :
a. performance bond
b. fidelity bond
c. trust account
d. personal guarantee - correct answer Fidelity Bond
A limited liability company is most like a - correct answer Limited partnership
Ethic in the real estate business would be - correct answer What the local states,
boards, and association would formulate
When a real estate brokerage offers a one-stop shop offering lending, tittle, and
inspection services, this would be called - correct answer Affiliated business
arrangement
Estoppel Certificate - correct answer Verifies loan information; signed by mortgagor
Verifies lease terms when rental property is sold
, Boot - correct answer personal property(cash) given to make up the difference in
equity
Can be borrowed
Creates a taxable event for the one that receives
Private Mortgage Insurance (PMI) - correct answer on a CONVENTIONAL loan, if the
down payment is less than 20% the lender might require the borrower to pay this
insurance cost.
Up front mortgage insurance premium - FHA
Funding fee-VA
Package - correct answer Loan including both real and personal property
Recourse - correct answer lender can sue for deficiency judgement if house sells for
less than loan
Origination Fee - correct answer ● Lenders fee on a new loan
● No origination in secondary market
RESPA/ Lenders must disclose all costs of financing and credit - correct answer Loan
Estimate- 3 business days from loan app
*Closing disclosure-3 bus.days prior to closing
*Impounds 2mo in advance
Regulated by CFPB
CFPB (Consumer Financial Protection Bureau) - correct answer Protects consumers
financial products
Co-Op - correct answer ● Securities interest or buying a leasehold
● Stock or personal property
test Exam Questions and Best Graded Guaranteed success
latest 2025/2026
Randon gas would primarily be found in - correct answer Underground minerals
environmental concerns that deal with small particles in the air would be - correct
answer Asbestos
When a broker misappropriates funds, this is called: - correct answer Conversion
An employer wants to be protected against employee's dishonesty, the employer should
obtain a :
a. performance bond
b. fidelity bond
c. trust account
d. personal guarantee - correct answer Fidelity Bond
A limited liability company is most like a - correct answer Limited partnership
Ethic in the real estate business would be - correct answer What the local states,
boards, and association would formulate
When a real estate brokerage offers a one-stop shop offering lending, tittle, and
inspection services, this would be called - correct answer Affiliated business
arrangement
Estoppel Certificate - correct answer Verifies loan information; signed by mortgagor
Verifies lease terms when rental property is sold
, Boot - correct answer personal property(cash) given to make up the difference in
equity
Can be borrowed
Creates a taxable event for the one that receives
Private Mortgage Insurance (PMI) - correct answer on a CONVENTIONAL loan, if the
down payment is less than 20% the lender might require the borrower to pay this
insurance cost.
Up front mortgage insurance premium - FHA
Funding fee-VA
Package - correct answer Loan including both real and personal property
Recourse - correct answer lender can sue for deficiency judgement if house sells for
less than loan
Origination Fee - correct answer ● Lenders fee on a new loan
● No origination in secondary market
RESPA/ Lenders must disclose all costs of financing and credit - correct answer Loan
Estimate- 3 business days from loan app
*Closing disclosure-3 bus.days prior to closing
*Impounds 2mo in advance
Regulated by CFPB
CFPB (Consumer Financial Protection Bureau) - correct answer Protects consumers
financial products
Co-Op - correct answer ● Securities interest or buying a leasehold
● Stock or personal property
