AZ License 2 Questions With Complete Solutions
A ______ doesn't live on site but manages an entire building.
Correct Answers Building manager
A central element of an antitrust violation is ______. Correct
Answers Conspiracy
A compensation model in which a licensee pays a monthly fee
to be affiliated with a firm is called a ______ model. Correct
Answers Desk fee
A property management agreement must contain ______.
Correct Answers The type and frequency of status reports the
property manager will provide to the owner
A property manager who lives in the building he manages and
who works for a salary or rent stipend is a ______ manager.
Correct Answers Resident
A temporary designated broker can be appointed when a
designated broker will be absent. The temporary broker may
remain for a maximum of ______. Correct Answers 30 days
A town passes a zoning ordinance preserving the architectural
style of an area and requiring plantings in the parking strips.
This is an example of ______. Correct Answers Aesthetic
zoning
According to the FTC privacy rule, a landlord or property
manager would have to obtain a tenant's written consent before
,sharing the tenant's personal information with which of the
following? Correct Answers An unaffiliated third party
Adjustments to closing costs are prorated as of what date?
Correct Answers Closing date
ADWR is involved in efforts to increase the state's ______.
Correct Answers Water supply
After a life estate holder dies and ownership rights have either
reverted to the original owner or have been transferred to a
remainderman, with what type of estate is the property held?
Correct Answers Fee simple
Among the many papers that must be sent to a buyer in a
planned community is a notice that the buyer understands the
legality of the declaration, bylaws, and rules of the association.
In Arizona, how long does the buyer have to sign and return the
notice to the HOA? Correct Answers 14 days
An appraiser is using the direct capitalization method to
calculate a value for an investment property. Which of the
following is true? Correct Answers This method converts a
single year's expected income into a market value.
An escrow officer is an example of which type of agency?
Correct Answers A limited agent
An exclusive right to sell agreement provides the ________ with
a commission no matter who brings the buyer to the transaction.
Correct Answers Listing agent
, Annie and George have been saving and are finally ready to
purchase their first home for their family (including their two
toddlers). They want to make an offer on a sweet little bungalow
in a quiet neighborhood. If the sellers are represented by a real
estate licensee, which situation would be a violation of fair
housing laws? Correct Answers Their offer is rejected because
the seller knows the neighbors don't like children.
Arizona deficiency statutes don't apply if the property is ______.
Correct Answers Transferred in a short sale
Arizona employing brokers are required to establish _____ to
supervise and control the activities of their employees and
satisfy the state's requirements. Correct Answers Written
policies and procedures
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 Answers His license will be
suspended until he pays back the amount paid to the consumer,
plus interest.
Arizona licensee Kurt is within his original license period, but
his license was cancelled. He resolved the cancellation issues,
and is eligible for reinstatement through ______. Correct
Answers Re-application
A ______ doesn't live on site but manages an entire building.
Correct Answers Building manager
A central element of an antitrust violation is ______. Correct
Answers Conspiracy
A compensation model in which a licensee pays a monthly fee
to be affiliated with a firm is called a ______ model. Correct
Answers Desk fee
A property management agreement must contain ______.
Correct Answers The type and frequency of status reports the
property manager will provide to the owner
A property manager who lives in the building he manages and
who works for a salary or rent stipend is a ______ manager.
Correct Answers Resident
A temporary designated broker can be appointed when a
designated broker will be absent. The temporary broker may
remain for a maximum of ______. Correct Answers 30 days
A town passes a zoning ordinance preserving the architectural
style of an area and requiring plantings in the parking strips.
This is an example of ______. Correct Answers Aesthetic
zoning
According to the FTC privacy rule, a landlord or property
manager would have to obtain a tenant's written consent before
,sharing the tenant's personal information with which of the
following? Correct Answers An unaffiliated third party
Adjustments to closing costs are prorated as of what date?
Correct Answers Closing date
ADWR is involved in efforts to increase the state's ______.
Correct Answers Water supply
After a life estate holder dies and ownership rights have either
reverted to the original owner or have been transferred to a
remainderman, with what type of estate is the property held?
Correct Answers Fee simple
Among the many papers that must be sent to a buyer in a
planned community is a notice that the buyer understands the
legality of the declaration, bylaws, and rules of the association.
In Arizona, how long does the buyer have to sign and return the
notice to the HOA? Correct Answers 14 days
An appraiser is using the direct capitalization method to
calculate a value for an investment property. Which of the
following is true? Correct Answers This method converts a
single year's expected income into a market value.
An escrow officer is an example of which type of agency?
Correct Answers A limited agent
An exclusive right to sell agreement provides the ________ with
a commission no matter who brings the buyer to the transaction.
Correct Answers Listing agent
, Annie and George have been saving and are finally ready to
purchase their first home for their family (including their two
toddlers). They want to make an offer on a sweet little bungalow
in a quiet neighborhood. If the sellers are represented by a real
estate licensee, which situation would be a violation of fair
housing laws? Correct Answers Their offer is rejected because
the seller knows the neighbors don't like children.
Arizona deficiency statutes don't apply if the property is ______.
Correct Answers Transferred in a short sale
Arizona employing brokers are required to establish _____ to
supervise and control the activities of their employees and
satisfy the state's requirements. Correct Answers Written
policies and procedures
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 Answers His license will be
suspended until he pays back the amount paid to the consumer,
plus interest.
Arizona licensee Kurt is within his original license period, but
his license was cancelled. He resolved the cancellation issues,
and is eligible for reinstatement through ______. Correct
Answers Re-application
