ASREB (Arizona School of Real Estate and Business)
Objective Assessment Exam Questions and verified and
correct Marking Scheme, Newest Guaranteed 2025/2026
What is legal exaggeration called correct answer
Puffing
Which of the following requires an AZ real estate license correct answer
Selling timeshares
Counters, fixtures and display cases are conveyed by:
Bill of sale
The taxes for the year are $1824. The close of escrow is April 15th. What is the
proration at close of escrow correct answer
$526.93 debit seller
The federal law that requires non-resident aliens to pay tax on gains from the sale of US
property is:
FIRPTA
Which of the following listed below best describes the purpose of a trustee correct
answer
Foreclose in a deed of trust
In an agency relationship, the primary ethical duty of a broker is to correct answer
Represent the principal
, The statue of frauds was brought into being to prevent:
Pergury
A real estate licensee would also like to hold a membership camping license. Which of
the following is true correct answer
It is lawful to hold both licenses concurrently
A broker, acting as a property manager, would be what type of agent correct answer
General
A lender refuses to loan or limit loans in a certain geographical residential area. This
action is called:
Redlining
A person who is authorized to represent the interest of another is called a(n)
Agent
A salesperson represents a seller in all real estate matters. This agency is called:
General
When property zoning is changed from single family to commercial use this is:
Upzoning
When a salesperson receives earnest money he/she should do what correct answer
Turn it over to their broker
Rank the following liens in the order of their priority from highest to lowest:
Objective Assessment Exam Questions and verified and
correct Marking Scheme, Newest Guaranteed 2025/2026
What is legal exaggeration called correct answer
Puffing
Which of the following requires an AZ real estate license correct answer
Selling timeshares
Counters, fixtures and display cases are conveyed by:
Bill of sale
The taxes for the year are $1824. The close of escrow is April 15th. What is the
proration at close of escrow correct answer
$526.93 debit seller
The federal law that requires non-resident aliens to pay tax on gains from the sale of US
property is:
FIRPTA
Which of the following listed below best describes the purpose of a trustee correct
answer
Foreclose in a deed of trust
In an agency relationship, the primary ethical duty of a broker is to correct answer
Represent the principal
, The statue of frauds was brought into being to prevent:
Pergury
A real estate licensee would also like to hold a membership camping license. Which of
the following is true correct answer
It is lawful to hold both licenses concurrently
A broker, acting as a property manager, would be what type of agent correct answer
General
A lender refuses to loan or limit loans in a certain geographical residential area. This
action is called:
Redlining
A person who is authorized to represent the interest of another is called a(n)
Agent
A salesperson represents a seller in all real estate matters. This agency is called:
General
When property zoning is changed from single family to commercial use this is:
Upzoning
When a salesperson receives earnest money he/she should do what correct answer
Turn it over to their broker
Rank the following liens in the order of their priority from highest to lowest:
