Arizona Specific Exam Questions With Complete Solutions
"Ad valorem" is Latin for _____.
a. additional value
b. assessed valuation
c. according to value
d. appropriated valuation Correct Answers c. according to
value
A _____ is defined as two or more platted subdivisions with
CC&Rs.
a. master-planned community
b. HOA
c. privately held corporation
d. public use property Correct Answers a. master-planned
community
A broker may NOT file a lien against _____ in order to cloud
the title for money owed to the
broker for a commission.
a. residential property with five or fewer units
b. residential property with more than five units
c. commercial property with five or fewer units
d. commercial property with more than five units Correct
Answers a. residential property with five or fewer units
A broker prepares documents incidental to a property transaction
for a client. The broker may
_____.
a. not charge a fee for this service
b. charge a fee up to $1000.00
,c. not prepare legal documents
d. prepare the documents, but must have a lawyer review them
Correct Answers a. not charge a fee for this service
A brokerage must keep copies of the public report and certificate
of administrative completeness
for _____ after all lots in the subdivision are sold.
a. two years
b. five years
c. four years
d. three years Correct Answers b. five years
A buyer's agent has a duty to _____.
a. conduct a reasonably competent and diligent visual inspection
of accessible areas in
the specified property
b. conduct a reasonably competent and diligent visual inspection
of areas that are not
readily accessible or visible
c. disclose only known material facts
d. disclose latent defects Correct Answers a. conduct a
reasonably competent and diligent visual inspection of
accessible areas in the specified property
A cease and desist order may be issued to _____.
a. an individual or an employing brokerage
b. an individual, but not to an employing brokerage
c. an employing brokerage, but not to an individual
d. a subdivider, but not to a broker or a salesperson Correct
Answers a. an individual or an employing brokerage
,A commercial project was in foreclosure and after the sale, the
lender did not receive enough
money to satisfy the note. Which of the following statements is
true?
a. The lender can sue the borrower for deficiency judgment.
b. The lender would not be able to sue for deficiency judgment.
c. The lender's only recourse is the property.
d. The lender would first have to honor the property homestead.
Correct Answers a. The lender can sue the borrower for
deficiency judgment.
A designated broker who, upon learning of a violation of real
estate statutes or rules by a licensee
under the broker's supervision, immediately reports the violation
to the ADRE, _____.
a. is not subject to disciplinary action by the ADRE for failure to
supervise the licensee
b. will be charged with a failure to supervise violation
c. must allow the violative conduct to continue so that the
licensee can be properly
disciplined by the ADRE
d. will cause both the designated broker's license as well as the
licensee's license to be
summarily suspended Correct Answers a. is not subject to
disciplinary action by the ADRE for failure to supervise the
licensee
A landlord has previously allowed more than two persons per
bedroom in his rented unit; and he
has not adopted the two person per bedroom maximum as a
policy. He has no signs displaying
, the two person per bedroom maximum, and no published
material to indicate that this policy
exists. A woman with two children wants to rent his one-
bedroom unit. Is the landlord justified
to refuse her on the basis of too many people per bedroom?
a. Yes. The Attorney General has determined that a two-person
per bedroom maximum
occupancy is a reasonable policy.
b. No, because the landlord had not adopted and published the
policy prior to the event.
c. No, because landlords are obligated to house anyone who is
willing to pay the asking
price for rent.
d. Yes, because a landlord has the final decision about who he
rents to. Correct Answers b. No, because the landlord had not
adopted and published the policy prior to the event.
A lease from month to month may be terminated by either party
giving at least _____ notice prior
to the periodic rental date specified in the notice.
a. fifteen days
b. thirty days
c. fourteen days
d. sixty days Correct Answers b. thirty days
A licensee is required to exercise _____ in ensuring that the
licensee obtains information material
to a client's interests and relevant to the contemplated
transaction and accurately communicates
the information to the client.
a. extraordinary care
"Ad valorem" is Latin for _____.
a. additional value
b. assessed valuation
c. according to value
d. appropriated valuation Correct Answers c. according to
value
A _____ is defined as two or more platted subdivisions with
CC&Rs.
a. master-planned community
b. HOA
c. privately held corporation
d. public use property Correct Answers a. master-planned
community
A broker may NOT file a lien against _____ in order to cloud
the title for money owed to the
broker for a commission.
a. residential property with five or fewer units
b. residential property with more than five units
c. commercial property with five or fewer units
d. commercial property with more than five units Correct
Answers a. residential property with five or fewer units
A broker prepares documents incidental to a property transaction
for a client. The broker may
_____.
a. not charge a fee for this service
b. charge a fee up to $1000.00
,c. not prepare legal documents
d. prepare the documents, but must have a lawyer review them
Correct Answers a. not charge a fee for this service
A brokerage must keep copies of the public report and certificate
of administrative completeness
for _____ after all lots in the subdivision are sold.
a. two years
b. five years
c. four years
d. three years Correct Answers b. five years
A buyer's agent has a duty to _____.
a. conduct a reasonably competent and diligent visual inspection
of accessible areas in
the specified property
b. conduct a reasonably competent and diligent visual inspection
of areas that are not
readily accessible or visible
c. disclose only known material facts
d. disclose latent defects Correct Answers a. conduct a
reasonably competent and diligent visual inspection of
accessible areas in the specified property
A cease and desist order may be issued to _____.
a. an individual or an employing brokerage
b. an individual, but not to an employing brokerage
c. an employing brokerage, but not to an individual
d. a subdivider, but not to a broker or a salesperson Correct
Answers a. an individual or an employing brokerage
,A commercial project was in foreclosure and after the sale, the
lender did not receive enough
money to satisfy the note. Which of the following statements is
true?
a. The lender can sue the borrower for deficiency judgment.
b. The lender would not be able to sue for deficiency judgment.
c. The lender's only recourse is the property.
d. The lender would first have to honor the property homestead.
Correct Answers a. The lender can sue the borrower for
deficiency judgment.
A designated broker who, upon learning of a violation of real
estate statutes or rules by a licensee
under the broker's supervision, immediately reports the violation
to the ADRE, _____.
a. is not subject to disciplinary action by the ADRE for failure to
supervise the licensee
b. will be charged with a failure to supervise violation
c. must allow the violative conduct to continue so that the
licensee can be properly
disciplined by the ADRE
d. will cause both the designated broker's license as well as the
licensee's license to be
summarily suspended Correct Answers a. is not subject to
disciplinary action by the ADRE for failure to supervise the
licensee
A landlord has previously allowed more than two persons per
bedroom in his rented unit; and he
has not adopted the two person per bedroom maximum as a
policy. He has no signs displaying
, the two person per bedroom maximum, and no published
material to indicate that this policy
exists. A woman with two children wants to rent his one-
bedroom unit. Is the landlord justified
to refuse her on the basis of too many people per bedroom?
a. Yes. The Attorney General has determined that a two-person
per bedroom maximum
occupancy is a reasonable policy.
b. No, because the landlord had not adopted and published the
policy prior to the event.
c. No, because landlords are obligated to house anyone who is
willing to pay the asking
price for rent.
d. Yes, because a landlord has the final decision about who he
rents to. Correct Answers b. No, because the landlord had not
adopted and published the policy prior to the event.
A lease from month to month may be terminated by either party
giving at least _____ notice prior
to the periodic rental date specified in the notice.
a. fifteen days
b. thirty days
c. fourteen days
d. sixty days Correct Answers b. thirty days
A licensee is required to exercise _____ in ensuring that the
licensee obtains information material
to a client's interests and relevant to the contemplated
transaction and accurately communicates
the information to the client.
a. extraordinary care
