ASREB (Arizona School of Real Estate and Business) Study
test in depth Examination and 100% correctly verified
Solutions Latest version 2025/2026
You buy unimproved land in a subdivision sight unseen. you have how long to rescind
the contract?
One year
Six months
Seven days
Ninety days - correct answer 6 months
The Arizona Real Estate Commissioner is appointed by:
State legislature
Governor
Popular vote
Elected official - correct answer Governor
Who is responsible for formulating our industry's rules and regulations in Arizona?
State Legislature
Governor
Real Estate Commissioner
Attorney General - correct answer Real Estate Commissioner
When a broker moves their office, the sign must be removed
Within six months
Within 10 days
Immediately
Within 30 days - correct answer Immediately
The right to license real estate agents comes from the:
,Commissioner
State Legislature
Municipalities
County Government - correct answer State Legislature
What can a developer do without a Public Report?
Lot reservations
Sales contracts
Close escrow
Non-refundable deposits - correct answer Lot reservations
If you do not renew your license on time, your license will be
Suspended
Expired
Valid
Unaffected - correct answer Expired
When a commission dispute arises between two licensees, their recourse would be to:
Appeal to the Real Estate Commissioner
Inform the client
Seek relief through civil action
Appeal to the advisory board - correct answer Seek relief through civil action
For a licensee to be paid a real estate commission, a license is required:
At the close of escrow
When all documents are recorded
When earnest money is accepted
At the time of the sale - correct answer At the time of the sale
,A public report will be denied a developer for all of the following reasons EXCEPT:
Failure to deliver marketable title
Not providing detailed floor plans
Misrepresenting the suitability of the property as a homesite
Lack of financial ability to complete the project - correct answer Not providing detailed
floor plans
When the designated broker is away on a temporary absence, all of the following are
true EXCEPT:
Temporary absence must be for 30 days or less
A salesperson can be appointed as a designated representative
The temporary absence relieves the designated broker of responsibility
Written evidence of a designated representative must be kept for one year - correct
answer The temporary absence relieves the designated broker of repsonsibility
Which applies to the Statute of Frauds?
All leases need to be in writing
Defines misrepresentation
Enforceable real estate contracts must be in writing
All personal property contracts must be notarized - correct answer Enforceable real
estate contracts must be in writing
Which of the following need a real estate license?
Person giving information about a subdivision
Receiver in bankruptcy
Trustee handling a trust
Attorney-at-law in the course of business - correct answer Person giving information
about a subdivision
, The commissioner can refuse to issue a subdivision public report because:
The commissioner fears the subdivision will not be economically profitable
The subdivider has previous fraud convictions
The subdivider fails to provide floor plans
The commissioner fears the properties have no real value - correct answer The
subdivider has previous fraud convictions
In Arizona, the right of the licensee to prepare certain legal documents and forms comes
from:
U.S. Constitution
Federal law
Arizona Constitution
Local ordinance - correct answer Arizona Constitution
A subdivider must be able to give the purchaser:
Building permits
Permanent access
Water rights
Perfect title - correct answer Permanent access
What can't the real estate commissioner do in the normal line of work?
Check files of licensee
Hold an active real estate license
Hire and fire Department of Real Estate employees
Revoke a real estate license - correct answer Hold an active real estate license
If a buyer buys a parcel of land in which a public report was required but was not
issued, the buyer may void the sale within:
1 year
test in depth Examination and 100% correctly verified
Solutions Latest version 2025/2026
You buy unimproved land in a subdivision sight unseen. you have how long to rescind
the contract?
One year
Six months
Seven days
Ninety days - correct answer 6 months
The Arizona Real Estate Commissioner is appointed by:
State legislature
Governor
Popular vote
Elected official - correct answer Governor
Who is responsible for formulating our industry's rules and regulations in Arizona?
State Legislature
Governor
Real Estate Commissioner
Attorney General - correct answer Real Estate Commissioner
When a broker moves their office, the sign must be removed
Within six months
Within 10 days
Immediately
Within 30 days - correct answer Immediately
The right to license real estate agents comes from the:
,Commissioner
State Legislature
Municipalities
County Government - correct answer State Legislature
What can a developer do without a Public Report?
Lot reservations
Sales contracts
Close escrow
Non-refundable deposits - correct answer Lot reservations
If you do not renew your license on time, your license will be
Suspended
Expired
Valid
Unaffected - correct answer Expired
When a commission dispute arises between two licensees, their recourse would be to:
Appeal to the Real Estate Commissioner
Inform the client
Seek relief through civil action
Appeal to the advisory board - correct answer Seek relief through civil action
For a licensee to be paid a real estate commission, a license is required:
At the close of escrow
When all documents are recorded
When earnest money is accepted
At the time of the sale - correct answer At the time of the sale
,A public report will be denied a developer for all of the following reasons EXCEPT:
Failure to deliver marketable title
Not providing detailed floor plans
Misrepresenting the suitability of the property as a homesite
Lack of financial ability to complete the project - correct answer Not providing detailed
floor plans
When the designated broker is away on a temporary absence, all of the following are
true EXCEPT:
Temporary absence must be for 30 days or less
A salesperson can be appointed as a designated representative
The temporary absence relieves the designated broker of responsibility
Written evidence of a designated representative must be kept for one year - correct
answer The temporary absence relieves the designated broker of repsonsibility
Which applies to the Statute of Frauds?
All leases need to be in writing
Defines misrepresentation
Enforceable real estate contracts must be in writing
All personal property contracts must be notarized - correct answer Enforceable real
estate contracts must be in writing
Which of the following need a real estate license?
Person giving information about a subdivision
Receiver in bankruptcy
Trustee handling a trust
Attorney-at-law in the course of business - correct answer Person giving information
about a subdivision
, The commissioner can refuse to issue a subdivision public report because:
The commissioner fears the subdivision will not be economically profitable
The subdivider has previous fraud convictions
The subdivider fails to provide floor plans
The commissioner fears the properties have no real value - correct answer The
subdivider has previous fraud convictions
In Arizona, the right of the licensee to prepare certain legal documents and forms comes
from:
U.S. Constitution
Federal law
Arizona Constitution
Local ordinance - correct answer Arizona Constitution
A subdivider must be able to give the purchaser:
Building permits
Permanent access
Water rights
Perfect title - correct answer Permanent access
What can't the real estate commissioner do in the normal line of work?
Check files of licensee
Hold an active real estate license
Hire and fire Department of Real Estate employees
Revoke a real estate license - correct answer Hold an active real estate license
If a buyer buys a parcel of land in which a public report was required but was not
issued, the buyer may void the sale within:
1 year
