ASREB (Arizona School of Real Estate and Business) | Targeted Exam
Mastery Questions: A+ Solutions for Guaranteed Pass Rate 2025/2026
What's the best definition of land? - correct answer The earth's surface, extending
downward to the center of the earth and upward to infinity, including permanently
attached natural objects
The American National Standard Institute calculates a home's livable square footage or
finished area to include which one of the following areas? - correct answer An
enclosed area in a house that's suitable for year-round use
What type of lien funds public property improvements? - correct answer Special
assessment
Liam is a contractor who discloses his right to place a lien on the properties where he
works in the event of non-payment. What type of lien is this? - correct answer
Mechanic's
______ allow Arizona licensees to pay commissions to and receive commissions from
out-of-state brokers. - correct answer Cooperation agreements
CAGRD sets up a system for water providers and residents to demonstrate a(n) ______
water supply. - correct answer Assured
In order to convey real property, which one of the following documents would you use? -
correct answer Deed
Which of the following best describes the Arizona Real Estate Advisory Board? -
correct answer Three members must be unlicensed residents of Arizona.
Which of the following best describes the function of a deficiency judgment in the case
of a foreclosure? - correct answer It allows the lender to recover losses incurred in the
foreclosure process.
,An increase in property value is called ______. - correct answer Appreciation
How does title insurance affect the lender? - correct answer It protects the lender from
loss due to defective titles.
When it comes to earnest money, which one of the following statements is true? -
correct answer Earnest money must be placed in a trust account.
Marsha and Laurie are buying a piece of land from AJ and Brianne. The anticipated
closing date is August 3. Which of these is the most likely scenario for an Arizona
closing? - correct answer Marsha and Laurie, their agent, and the closing officer will
meet separately from AJ, Brianne, and their agent.
At an Arizona trustee's sale, the winning bid exceeds the lender's minimum by $14,000.
How will the trustee apply the proceeds? - correct answer The trustee applies
proceeds to the costs of the foreclosure, to the outstanding balance of the loan and
other lender fees, to any HOA fees, to junior liens, and then to the trustor.
Xavier deposited a $3,000 earnest money check into his personal account for
safekeeping while he was on vacation. The balance in his account when he left on
vacation was $4,200, and when he returned, it was $2,800. He withdrew enough funds
from his savings account to cover the earnest money check and delivered the funds to
the escrow agent. Which statement best represents Xavier's issue? - correct answer
Guilty of commingling and conversion.
Which source of law regulates individual or private action and includes regulation of
areas like environmental laws, civil rights, professional licensure, and agency laws? -
correct answer Statutory law
Mrs. Blanchard cut down a tree growing on her property. Which of the following has
occurred? - correct answer Real property has become personal property.
Arizona licensed contractor DeAngelo was involved in a case against a consumer and
can't pay the judgment amount awarded by the residential contractors recovery fund.
, What will happen to his contractor's license? - correct answer His license will be
suspended until he pays back the amount paid to the consumer, plus interest.
In addition to providing a disclosure of any lead-based paint hazards in homes built
before 1978, what must a seller's agent provide to prospective buyers? - correct
answer EPA lead safety pamphlet
If the sale of a property that includes soybean fields occurs before the crops are ready
for harvest, which of the following is the best option for the parties to the transaction to
take? - correct answer The contract between the parties should clarify the disposition
of the crop.
Which of the following is an example of a fixture that is real property? - correct answer
Shelves attached to the wall with brackets
What's the difference between a unilateral contract and a bilateral contract? - correct
answer In a unilateral contract, one party must act; in a bilateral contract, both parties
must act.
Brendan's lender set him up with a loan in which the majority of Brendan's early
payments go toward interest, his monthly payments remain the same, and he doesn't
start paying much toward his principal until closer to the end of the loan. This is ______.
- correct answer Typical amortization
Kathy notified her landlord in writing 12 days ago about the back door's top hinges that
pulled out of the doorjamb. Because she didn't want her house to get broken in to,
Kathy hired a licensed contractor to come and fix the door. In order to get reimbursed
for the contractor's work, what must Kathy do next? - correct answer Provide an
itemized statement to her landlord and deduct from next rent payment.
Which one of the following is true about ownership or title to a property? - correct
answer Constructive notice to the public of real property ownership occurs when the
deed is recorded.
Mastery Questions: A+ Solutions for Guaranteed Pass Rate 2025/2026
What's the best definition of land? - correct answer The earth's surface, extending
downward to the center of the earth and upward to infinity, including permanently
attached natural objects
The American National Standard Institute calculates a home's livable square footage or
finished area to include which one of the following areas? - correct answer An
enclosed area in a house that's suitable for year-round use
What type of lien funds public property improvements? - correct answer Special
assessment
Liam is a contractor who discloses his right to place a lien on the properties where he
works in the event of non-payment. What type of lien is this? - correct answer
Mechanic's
______ allow Arizona licensees to pay commissions to and receive commissions from
out-of-state brokers. - correct answer Cooperation agreements
CAGRD sets up a system for water providers and residents to demonstrate a(n) ______
water supply. - correct answer Assured
In order to convey real property, which one of the following documents would you use? -
correct answer Deed
Which of the following best describes the Arizona Real Estate Advisory Board? -
correct answer Three members must be unlicensed residents of Arizona.
Which of the following best describes the function of a deficiency judgment in the case
of a foreclosure? - correct answer It allows the lender to recover losses incurred in the
foreclosure process.
,An increase in property value is called ______. - correct answer Appreciation
How does title insurance affect the lender? - correct answer It protects the lender from
loss due to defective titles.
When it comes to earnest money, which one of the following statements is true? -
correct answer Earnest money must be placed in a trust account.
Marsha and Laurie are buying a piece of land from AJ and Brianne. The anticipated
closing date is August 3. Which of these is the most likely scenario for an Arizona
closing? - correct answer Marsha and Laurie, their agent, and the closing officer will
meet separately from AJ, Brianne, and their agent.
At an Arizona trustee's sale, the winning bid exceeds the lender's minimum by $14,000.
How will the trustee apply the proceeds? - correct answer The trustee applies
proceeds to the costs of the foreclosure, to the outstanding balance of the loan and
other lender fees, to any HOA fees, to junior liens, and then to the trustor.
Xavier deposited a $3,000 earnest money check into his personal account for
safekeeping while he was on vacation. The balance in his account when he left on
vacation was $4,200, and when he returned, it was $2,800. He withdrew enough funds
from his savings account to cover the earnest money check and delivered the funds to
the escrow agent. Which statement best represents Xavier's issue? - correct answer
Guilty of commingling and conversion.
Which source of law regulates individual or private action and includes regulation of
areas like environmental laws, civil rights, professional licensure, and agency laws? -
correct answer Statutory law
Mrs. Blanchard cut down a tree growing on her property. Which of the following has
occurred? - correct answer Real property has become personal property.
Arizona licensed contractor DeAngelo was involved in a case against a consumer and
can't pay the judgment amount awarded by the residential contractors recovery fund.
, What will happen to his contractor's license? - correct answer His license will be
suspended until he pays back the amount paid to the consumer, plus interest.
In addition to providing a disclosure of any lead-based paint hazards in homes built
before 1978, what must a seller's agent provide to prospective buyers? - correct
answer EPA lead safety pamphlet
If the sale of a property that includes soybean fields occurs before the crops are ready
for harvest, which of the following is the best option for the parties to the transaction to
take? - correct answer The contract between the parties should clarify the disposition
of the crop.
Which of the following is an example of a fixture that is real property? - correct answer
Shelves attached to the wall with brackets
What's the difference between a unilateral contract and a bilateral contract? - correct
answer In a unilateral contract, one party must act; in a bilateral contract, both parties
must act.
Brendan's lender set him up with a loan in which the majority of Brendan's early
payments go toward interest, his monthly payments remain the same, and he doesn't
start paying much toward his principal until closer to the end of the loan. This is ______.
- correct answer Typical amortization
Kathy notified her landlord in writing 12 days ago about the back door's top hinges that
pulled out of the doorjamb. Because she didn't want her house to get broken in to,
Kathy hired a licensed contractor to come and fix the door. In order to get reimbursed
for the contractor's work, what must Kathy do next? - correct answer Provide an
itemized statement to her landlord and deduct from next rent payment.
Which one of the following is true about ownership or title to a property? - correct
answer Constructive notice to the public of real property ownership occurs when the
deed is recorded.
