ASREB (Arizona School of Real Estate and Business) -
Chapter 1 Vocabulary test Exam Questions along with
Certified Answers Latest updates 2025/2026
Limited Property Value - correct answer In Arizona, the number used to compute
primary taxes for the maintenance and operation of school districts, cities, community
college districts, and counties; cannot exceed thee property's full cash value
Non-homogeneity - correct answer A characteristic of real property: each piece of land,
each building, and each house is a different piece of real estate. Also called:
Uniqueness
Police Power - correct answer The right of the government to pass legislation
protecting the safety, health, and welfare of the public.
Real Property - correct answer The physical land itself to the center of the earth and
the sky above, and anything permanently affixed to the land, such as buildings,
improvements, growing plants, and fixtures, as well as associated rights, such as water
rights or easements. Also called: Realty
Setback - correct answer A term used in local zoning ordinances that represents thee
distance between a lot's boundary and improvements.
Severance - correct answer A process through which fixtures are detached from the
land and revert back to personal property.
Situs - correct answer The location of a parcel of real property.
Special Assessment - correct answer A tax levied against properties that benefit from a
public improvement (e.g. a sewer or street light), to cover the cost of the improvement;
creates an involuntary lien.
Chapter 1 Vocabulary test Exam Questions along with
Certified Answers Latest updates 2025/2026
Limited Property Value - correct answer In Arizona, the number used to compute
primary taxes for the maintenance and operation of school districts, cities, community
college districts, and counties; cannot exceed thee property's full cash value
Non-homogeneity - correct answer A characteristic of real property: each piece of land,
each building, and each house is a different piece of real estate. Also called:
Uniqueness
Police Power - correct answer The right of the government to pass legislation
protecting the safety, health, and welfare of the public.
Real Property - correct answer The physical land itself to the center of the earth and
the sky above, and anything permanently affixed to the land, such as buildings,
improvements, growing plants, and fixtures, as well as associated rights, such as water
rights or easements. Also called: Realty
Setback - correct answer A term used in local zoning ordinances that represents thee
distance between a lot's boundary and improvements.
Severance - correct answer A process through which fixtures are detached from the
land and revert back to personal property.
Situs - correct answer The location of a parcel of real property.
Special Assessment - correct answer A tax levied against properties that benefit from a
public improvement (e.g. a sewer or street light), to cover the cost of the improvement;
creates an involuntary lien.
