BROKER TEST - AZ REAL ESTATE
EXAM QUESTIONS WITH VERIFIED
ANSWERS
Families with children may be denied occupancy of rental units if all units in the
building were reserved exclusively for those: - ANSWER-62 years or older.
Housing for older persons is defined as housing intended for and solely occupied by
persons 62 or older.
What document lets a buyer and seller see the costs involved with closing the
transaction?
-Good Faith Estimate
-Closing Statement
-HUD-1 Statement
-Purchase Agreement - ANSWER-Hud 1 statement
What is the document prepared by an attorney that states the attorney's opinion of
the status of the title?
-Certificate of Title
-Abstract of Title
-Letter of Opinion
-None of the Above - ANSWER-A certificate of title is also evidence of title. This type
of evidence has no guarantee associated with it.
When a real estate brokerage offers a one-stop shop offering lending, title, and
inspection services, this would be called:
-Warehousing Products
-Affilitaed Business Arrangements
-Illegal
-None of the Above - ANSWER--Affilitaed Business Arrangements
Assessments for property improvements are placed on realty based on: I. the
assessed value of the subject property; II. a pro rata share of the costs of the
improvements to the property;
-1 only
-11 only
-1 and 11
-none - ANSWER-1 only
What would be an essential element for an Arizona deed?
-Signature of the Grantor
-Signature of the Grantee
-Signature of the Beneficiary
-Signature of the Trustor - ANSWER-Signature of the Grantor is required
A chronological document showing conveyance of property from one owner another
is called:
,-Chain of Title
-Title Report
-Abstract of Title
-Bill of Sale - ANSWER--Abstract of Title
A license is granted for:
a. 1 year
b. 2 years
c. 3 years
d. 4 years - ANSWER-2 years
When the law allows for tacking this would refer to which of the following
easements?
-Neccesity
-Prescription
-License
-In Gross - ANSWER-PRESCRIPTION
The question presents one of the requirements for an easement by prescription; Ten
years of continuous use or tacking, acquiring ten years continuous use through a
combining of successive owners.
An owner of a two-acre lot separates it and wants to give away one of the newly
formed lots. What would they have to provide?
-Easment by Necessity
-Easement Appurtenance
-Easement In Gross
-Easement license - ANSWER-Easement by necessity
The second lot would need ingress and egress and that would be provided by an
easement by necessity.
What must be recorded to be valid?
-Deed
-Last Will and Testiment
-Beneficiary Deed
-Bill of Sale - ANSWER--Beneficiary Deed
there are how many standard sections in a township?
-36
-11
-25
-6 - ANSWER-25
there are how many fractional sections in a township?
-36
-11
-25
-6 - ANSWER-11
,Which sections are contiguous to Section 1 in a Township? - ANSWER-Sections 6
and 12 are contiguous to 1. You'll have to draw 2 townships and number the
sections. The two townships should be next to each other east and west. Once both
townships have the sections numbered you will be able to answer this question.
To keep the range lines as nearly as possible six miles apart, a correction line is
made as the line continues north. This correction is made every:
-6 miles
-12 miles
-18 miles
-24 miles - ANSWER-Since all north-south lines eventually converge at the north and
south poles, range lines are adjusted every fourth township or every 24 miles.
When a lot is sold outside of a subdivision, which of the following must appear in the
deed?
-Riparian Rights
-Prior Apporpration
-Water Rights
-No Ingress or Egress Exists - ANSWER-No ingress or egress exists
Who places deed restrictions on real estate?
a. Zoning board
b. City commission
c. Grantor
d. State ordinance - ANSWER-C. Grantor
A definition of involuntary alienation is:
-Title to property can be conveyed by action of the court
-The court can take a person's property without compensation - ANSWER-Title to
property can be conveyed by action of the court
A contract states that the taxes be prorated between the buyer and seller. The taxes
have been paid in advance. The proper entry on the closing statement is:
-Credit the Seller, Debit the Buyer
-Debit the Seller, Credit the Buyer
-Debit the Seller, Debit the Buyer
-Credit the Seller, Credit the Buyer - ANSWER-Credit the seller and debit the buyer
All of the following would run with the land EXCEPT:
-Fixtures
-Air Rights
-Trade Fixtures
-All of the above apply - ANSWER--Trade Fixtures
Where would the exceptions and reservations appear on a title report?
-Schedule A
-Schedule B
-Schedule C
-Abstract of Title - ANSWER-Schedule B
Exceptions and reservations show up in Schedule B.
, If a tenant is involved in illegal activity on the premises the landlord may deliver a
notice to the tenant to terminate the lease:
-5 days
-10 days
-14 days
-Immediately - ANSWER--Immediatley
When a new loan is paid PITI, which of the following would NOT appear on an
escrow closing statement:
-Taxes
-Insurance
-Principal Payments
-Interest Adjustment - ANSWER--Principal payments
With a PITI loan, the principal payments would not show up.
What designation applies to the appraiser of noncomplex one- to four-unit residential
properties with a transaction value of less than $1 million?
-Licensed real property appraiser
-Certified residential real property appraiser
-Universal Appraiser
-Specialty Appraser - ANSWER-A professional appraiser who is legally authorized to
appraise non-complex one- to four-unit residential properties with a transaction value
of less than $1 million is a licensed real property appraiser.
A property is in the process of being foreclosed. Who is responsible for the property
taxes?
-Trustee
-Trustor
-Beneficiary
-Previous Owner - ANSWER-The trustor remains responsible for paying the property
taxes.
The act of the government taking private property for public use is: - ANSWER-
Condemnation
Deed restrictions and zoning regulations are used to accomplish which of the
following?
-Allow for future tax assessments
-Prevent Uncontrolled Growth
-All of the Above - ANSWER-prevent uncontrolled growth
Building codes are primarily enforced by:
-Building Laws
-Zoning Laws
-Issuance of permits
-None of Above - ANSWER--Issuance of permits
EXAM QUESTIONS WITH VERIFIED
ANSWERS
Families with children may be denied occupancy of rental units if all units in the
building were reserved exclusively for those: - ANSWER-62 years or older.
Housing for older persons is defined as housing intended for and solely occupied by
persons 62 or older.
What document lets a buyer and seller see the costs involved with closing the
transaction?
-Good Faith Estimate
-Closing Statement
-HUD-1 Statement
-Purchase Agreement - ANSWER-Hud 1 statement
What is the document prepared by an attorney that states the attorney's opinion of
the status of the title?
-Certificate of Title
-Abstract of Title
-Letter of Opinion
-None of the Above - ANSWER-A certificate of title is also evidence of title. This type
of evidence has no guarantee associated with it.
When a real estate brokerage offers a one-stop shop offering lending, title, and
inspection services, this would be called:
-Warehousing Products
-Affilitaed Business Arrangements
-Illegal
-None of the Above - ANSWER--Affilitaed Business Arrangements
Assessments for property improvements are placed on realty based on: I. the
assessed value of the subject property; II. a pro rata share of the costs of the
improvements to the property;
-1 only
-11 only
-1 and 11
-none - ANSWER-1 only
What would be an essential element for an Arizona deed?
-Signature of the Grantor
-Signature of the Grantee
-Signature of the Beneficiary
-Signature of the Trustor - ANSWER-Signature of the Grantor is required
A chronological document showing conveyance of property from one owner another
is called:
,-Chain of Title
-Title Report
-Abstract of Title
-Bill of Sale - ANSWER--Abstract of Title
A license is granted for:
a. 1 year
b. 2 years
c. 3 years
d. 4 years - ANSWER-2 years
When the law allows for tacking this would refer to which of the following
easements?
-Neccesity
-Prescription
-License
-In Gross - ANSWER-PRESCRIPTION
The question presents one of the requirements for an easement by prescription; Ten
years of continuous use or tacking, acquiring ten years continuous use through a
combining of successive owners.
An owner of a two-acre lot separates it and wants to give away one of the newly
formed lots. What would they have to provide?
-Easment by Necessity
-Easement Appurtenance
-Easement In Gross
-Easement license - ANSWER-Easement by necessity
The second lot would need ingress and egress and that would be provided by an
easement by necessity.
What must be recorded to be valid?
-Deed
-Last Will and Testiment
-Beneficiary Deed
-Bill of Sale - ANSWER--Beneficiary Deed
there are how many standard sections in a township?
-36
-11
-25
-6 - ANSWER-25
there are how many fractional sections in a township?
-36
-11
-25
-6 - ANSWER-11
,Which sections are contiguous to Section 1 in a Township? - ANSWER-Sections 6
and 12 are contiguous to 1. You'll have to draw 2 townships and number the
sections. The two townships should be next to each other east and west. Once both
townships have the sections numbered you will be able to answer this question.
To keep the range lines as nearly as possible six miles apart, a correction line is
made as the line continues north. This correction is made every:
-6 miles
-12 miles
-18 miles
-24 miles - ANSWER-Since all north-south lines eventually converge at the north and
south poles, range lines are adjusted every fourth township or every 24 miles.
When a lot is sold outside of a subdivision, which of the following must appear in the
deed?
-Riparian Rights
-Prior Apporpration
-Water Rights
-No Ingress or Egress Exists - ANSWER-No ingress or egress exists
Who places deed restrictions on real estate?
a. Zoning board
b. City commission
c. Grantor
d. State ordinance - ANSWER-C. Grantor
A definition of involuntary alienation is:
-Title to property can be conveyed by action of the court
-The court can take a person's property without compensation - ANSWER-Title to
property can be conveyed by action of the court
A contract states that the taxes be prorated between the buyer and seller. The taxes
have been paid in advance. The proper entry on the closing statement is:
-Credit the Seller, Debit the Buyer
-Debit the Seller, Credit the Buyer
-Debit the Seller, Debit the Buyer
-Credit the Seller, Credit the Buyer - ANSWER-Credit the seller and debit the buyer
All of the following would run with the land EXCEPT:
-Fixtures
-Air Rights
-Trade Fixtures
-All of the above apply - ANSWER--Trade Fixtures
Where would the exceptions and reservations appear on a title report?
-Schedule A
-Schedule B
-Schedule C
-Abstract of Title - ANSWER-Schedule B
Exceptions and reservations show up in Schedule B.
, If a tenant is involved in illegal activity on the premises the landlord may deliver a
notice to the tenant to terminate the lease:
-5 days
-10 days
-14 days
-Immediately - ANSWER--Immediatley
When a new loan is paid PITI, which of the following would NOT appear on an
escrow closing statement:
-Taxes
-Insurance
-Principal Payments
-Interest Adjustment - ANSWER--Principal payments
With a PITI loan, the principal payments would not show up.
What designation applies to the appraiser of noncomplex one- to four-unit residential
properties with a transaction value of less than $1 million?
-Licensed real property appraiser
-Certified residential real property appraiser
-Universal Appraiser
-Specialty Appraser - ANSWER-A professional appraiser who is legally authorized to
appraise non-complex one- to four-unit residential properties with a transaction value
of less than $1 million is a licensed real property appraiser.
A property is in the process of being foreclosed. Who is responsible for the property
taxes?
-Trustee
-Trustor
-Beneficiary
-Previous Owner - ANSWER-The trustor remains responsible for paying the property
taxes.
The act of the government taking private property for public use is: - ANSWER-
Condemnation
Deed restrictions and zoning regulations are used to accomplish which of the
following?
-Allow for future tax assessments
-Prevent Uncontrolled Growth
-All of the Above - ANSWER-prevent uncontrolled growth
Building codes are primarily enforced by:
-Building Laws
-Zoning Laws
-Issuance of permits
-None of Above - ANSWER--Issuance of permits
