ASREB (Arizona School of Real Estate and Business)
Chapter 10 | Certified 2025/2026 Practice Exam Pack: Verified
Questions & Expert-Approved Answers
What activates a license? - correct answer filing entity hire form and must have a
designated broker
How many people are required in order to have a real estate branch office? - correct
answer 1
How often must you renew your license? - correct answer every 2 years
When does your real estate license expire? - correct answer the last day of the month
the license originally was activated
How many hours of education needed to renew your license? - correct answer 24
hours
How long is the grace period for license inactivity? - correct answer 1 year
How long after inactivity is license terminated? - correct answer 1 year and must
retake exam
What requirements are needed to have a brokers license? - correct answer -full time
real estate experience for 3 of the last 5 years
-90 hours brokerage pre licensing education
-pass school exam and brokers exam
-9 hours of approved broker management clinic courses
Hwo logn is a brokers license valid for? - correct answer 2 years
, How many hours of education are need to renew brokers license? - correct answer 30
hours
9 hours broker management clinic
When is commission earned? - correct answer When the agent finds a ready, willing
and able buyer
What does setting commission rates violate? - correct answer Sherman Anti Trust Act
When is commission paid? - correct answer upon transaction closing, paid to the
designated broker
May licensees receive a referral fee from another broker? - correct answer Yes if it is
paid to them through their employing broker
From who can an agent receive their commission from? - correct answer ONLY from
employing broker for whom they work when the commission was earned
What must a designated broker do if there is a leave of absence for more than 24
hours? - correct answer appoint associate broker or salesperson or designated broker
from another firm
How long can a broker designate someone in the case of a leave of absence? - correct
answer cant exceed 30 days
When must a broker report a change of address? - correct answer within 10 calendar
days
What must be displayed prominently at their place of business? - correct answer a sign
with the brokers name, business name, and broker type
Chapter 10 | Certified 2025/2026 Practice Exam Pack: Verified
Questions & Expert-Approved Answers
What activates a license? - correct answer filing entity hire form and must have a
designated broker
How many people are required in order to have a real estate branch office? - correct
answer 1
How often must you renew your license? - correct answer every 2 years
When does your real estate license expire? - correct answer the last day of the month
the license originally was activated
How many hours of education needed to renew your license? - correct answer 24
hours
How long is the grace period for license inactivity? - correct answer 1 year
How long after inactivity is license terminated? - correct answer 1 year and must
retake exam
What requirements are needed to have a brokers license? - correct answer -full time
real estate experience for 3 of the last 5 years
-90 hours brokerage pre licensing education
-pass school exam and brokers exam
-9 hours of approved broker management clinic courses
Hwo logn is a brokers license valid for? - correct answer 2 years
, How many hours of education are need to renew brokers license? - correct answer 30
hours
9 hours broker management clinic
When is commission earned? - correct answer When the agent finds a ready, willing
and able buyer
What does setting commission rates violate? - correct answer Sherman Anti Trust Act
When is commission paid? - correct answer upon transaction closing, paid to the
designated broker
May licensees receive a referral fee from another broker? - correct answer Yes if it is
paid to them through their employing broker
From who can an agent receive their commission from? - correct answer ONLY from
employing broker for whom they work when the commission was earned
What must a designated broker do if there is a leave of absence for more than 24
hours? - correct answer appoint associate broker or salesperson or designated broker
from another firm
How long can a broker designate someone in the case of a leave of absence? - correct
answer cant exceed 30 days
When must a broker report a change of address? - correct answer within 10 calendar
days
What must be displayed prominently at their place of business? - correct answer a sign
with the brokers name, business name, and broker type
