Real Estate ARIZONA STATE Practice Exam with Questions and Answers

Real Estate ARIZONA STATE Practice Exam with Questions and Answers A master planned community is A) Six or more lots, parcels, or fractional interests. B) Six or more lots, parcels, or fractional interests, each of which is 36 acres or more. C) A real estate development that includes real estate owned and operated by a nonprofit HOA. D) two or more platted subdivisions with recorded covenants, conditions, and restrictions (CC&Rs). ANSWER D) two or more platted subdivisions with recorded covenants, conditions, and restrictions (CC&Rs). If a real estate licensee possesses information that materially and adversely affects the consideration to be paid by any party to the transaction A) the licensee must disclose that information, in writing, to the potential buyer only. B) the licensee must disclose that information to his client only. C) the licensee must disclose that information, in writing, to all parties to the transaction. D) the licensee must disclose that information either orally or in writing to the opposing party. ANSWER C)