ASREB (Arizona School of Real Estate and Business) | Top-
Rated 2025/2026 Exam Review Guide Questions with Model
Answers
A licensee receives an offer on a property listed with another broker. If the licensee
cannot reach the broker within 24 hours, what must he do? - correct answer Request
the seller give written authorization to present the offer
An associate broker is appointed manager of a branch office. All of the following listed
below are true Except. - correct answer Since the branch manager is an associate
broker, the designated broker is relieved of responsibility
Two real estate agents from different companies argue over a current real estate
transaction. As a result, the agents will not show their clients any properties listed by the
other agent. Which statement listed below is true? - correct answer The agent's
actions violate the Commissioner's rules
If a person does not renew his license on time, it is considered - correct answer
expired
A real estate salesperson sends a buyer to a lender.
May the lender pay the salesperson for the referral? - correct answer No, payment of
the fee would be illegal
According to Arizona Revised Statutes Section
416(a)(2) the definition of Improved Real Property includes four (4) possible conditions
except which of the following: - correct answer A lot where a structure could be built
within two years of the contract
In Arizona, which of the following listed below is not required for a valid listing: - correct
answer Commission split
, An out of state developer is marketing a sub-division targeting Arizona residents. What
is required of the out of state developer? - correct answer The developer is required to
obtain an Arizona
Public report
When advertising via a web page, which of the following is true? - correct answer The
broker's name must appear prominently on every page, without the viewer having to
scroll down to see it
After payment has been made from the recovery fund on behalf of a licensee if the
licensee repays the recovery fund, the licensee's right to reapply for a license: - correct
answer May be denied for a maximum of 5 years
How long is a broker required to keep a copy of a purchase contract? - correct answer
5 years
Which one of the following statements is true regarding the Arizona Department of Real
Estate - correct answer It audit brokerage offices
After passing the real estate exam, a licensee must activate his license within - correct
answer one year
According to the Arizona Revised Statutes, which one of the following parties must have
a real estate license? - correct answer A person that manages more than one property
A buyer may rescind the sale of the subdivided property if the property does not have: -
correct answer Legal access
A buyer is entering into a purchase contract to build a new home in a subdivision.
The home will be completed in six months. How long does the buyer have to rescind the
contract? - correct answer The right to rescind does not apply
Rated 2025/2026 Exam Review Guide Questions with Model
Answers
A licensee receives an offer on a property listed with another broker. If the licensee
cannot reach the broker within 24 hours, what must he do? - correct answer Request
the seller give written authorization to present the offer
An associate broker is appointed manager of a branch office. All of the following listed
below are true Except. - correct answer Since the branch manager is an associate
broker, the designated broker is relieved of responsibility
Two real estate agents from different companies argue over a current real estate
transaction. As a result, the agents will not show their clients any properties listed by the
other agent. Which statement listed below is true? - correct answer The agent's
actions violate the Commissioner's rules
If a person does not renew his license on time, it is considered - correct answer
expired
A real estate salesperson sends a buyer to a lender.
May the lender pay the salesperson for the referral? - correct answer No, payment of
the fee would be illegal
According to Arizona Revised Statutes Section
416(a)(2) the definition of Improved Real Property includes four (4) possible conditions
except which of the following: - correct answer A lot where a structure could be built
within two years of the contract
In Arizona, which of the following listed below is not required for a valid listing: - correct
answer Commission split
, An out of state developer is marketing a sub-division targeting Arizona residents. What
is required of the out of state developer? - correct answer The developer is required to
obtain an Arizona
Public report
When advertising via a web page, which of the following is true? - correct answer The
broker's name must appear prominently on every page, without the viewer having to
scroll down to see it
After payment has been made from the recovery fund on behalf of a licensee if the
licensee repays the recovery fund, the licensee's right to reapply for a license: - correct
answer May be denied for a maximum of 5 years
How long is a broker required to keep a copy of a purchase contract? - correct answer
5 years
Which one of the following statements is true regarding the Arizona Department of Real
Estate - correct answer It audit brokerage offices
After passing the real estate exam, a licensee must activate his license within - correct
answer one year
According to the Arizona Revised Statutes, which one of the following parties must have
a real estate license? - correct answer A person that manages more than one property
A buyer may rescind the sale of the subdivided property if the property does not have: -
correct answer Legal access
A buyer is entering into a purchase contract to build a new home in a subdivision.
The home will be completed in six months. How long does the buyer have to rescind the
contract? - correct answer The right to rescind does not apply
