AZ Real Estate License Practice Test Questions With
Complete Solutions
A buyer has the right to cancel after they have signed a
timeshare contract as long as the buyer: Correct Answers
rescinds the contract in writing within 10 days
A condo owner has exclusive rooftop access through her condo
unit. If it needs repairs, who is responsible for making those
repairs? Correct Answers all of the condo building's co-owners,
out of their HOA dues
A condo owner owns the: Correct Answers interior of their unit
A corporation has what type of ownership? Correct Answers
ownership in severalty
A license holder is determining whether or not the kitchen
cabinets in a property are considered fixtures. They decide that
the cabinets would cause a lot of damage to the real property if
removed due to the way they were installed. Which aspect of
MARIA does this address? Correct Answers M, Method of
attachment
A method of pooling forces and resources of individual
investors who would not be able to fund, get financing, or
manage a real estate undertaking on their own is known as a:
Correct Answers real estate investment trust
A quitclaim deed is used to: Correct Answers remove a cloud
on the title/encumbrance on the property
,A subdivision includes covenants, conditions, and restrictions in
the deeds for all properties. One covenant bans barnyard animals
even though city laws permit them. A resident builds a chicken
coop in his backyard to raise chickens. Do the neighbors have
any recourse to have them removed? Correct Answers Yes,
because when city and private restrictions overlap, the stricter of
the two is applied.
a type of estate that allows for remainder or reversionary
interests Correct Answers Life estate
Alice, Tom, George, and Brenda bought a property as joint
tenants with the right of survivorship. When they bought the
property, they each had: Correct Answers a 25% share of
ownership interest
All partners assume unlimited personal liability in what type of
business organization? Correct Answers general partnership
an interest in an estate that will pass to another party at the death
of the person upon whom the life estate is based Correct
Answers Remainder interest
an interest in which, upon the death of the life estate owner, full
ownership reverts back to the original fee simple owner Correct
Answers Reversionary interest
Areas around a condominium such as a swimming pool and
laundry room are known as: Correct Answers common
elements
, At what point in the building process is a certificate of
occupancy issued? Correct Answers after construction has been
completed and the building has been inspected and deemed to be
in compliance with building codes
Blackberry bushes are growing in Heidi's backyard. Heidi has
the right to pick those blackberries, eat them, make them into
jam, or share them with her neighbor. This concept is known as:
Correct Answers Accession
Clarissa is a real estate licensee in Arizona. By law, what
document(s) must she have access to? Correct Answers the
Arizona Real Estate Law Book
Clayton tells trespassers to get off of his land. In doing so, which
right is Clayton exercising? Correct Answers The right of
exclusion
Co-op boards cannot reject applicants for which of these
reasons? Correct Answers being a member of a class protected
by the Fair Housing Act
Conga installed her family's candelabras on the wall in her
dining room when she first moved in. Ten years later, when she
gets ready to move, she removes the candelabras from the walls
so she can take them with her. What process did Conga go
through when she removed the candelabras? Correct Answers
Severance
Complete Solutions
A buyer has the right to cancel after they have signed a
timeshare contract as long as the buyer: Correct Answers
rescinds the contract in writing within 10 days
A condo owner has exclusive rooftop access through her condo
unit. If it needs repairs, who is responsible for making those
repairs? Correct Answers all of the condo building's co-owners,
out of their HOA dues
A condo owner owns the: Correct Answers interior of their unit
A corporation has what type of ownership? Correct Answers
ownership in severalty
A license holder is determining whether or not the kitchen
cabinets in a property are considered fixtures. They decide that
the cabinets would cause a lot of damage to the real property if
removed due to the way they were installed. Which aspect of
MARIA does this address? Correct Answers M, Method of
attachment
A method of pooling forces and resources of individual
investors who would not be able to fund, get financing, or
manage a real estate undertaking on their own is known as a:
Correct Answers real estate investment trust
A quitclaim deed is used to: Correct Answers remove a cloud
on the title/encumbrance on the property
,A subdivision includes covenants, conditions, and restrictions in
the deeds for all properties. One covenant bans barnyard animals
even though city laws permit them. A resident builds a chicken
coop in his backyard to raise chickens. Do the neighbors have
any recourse to have them removed? Correct Answers Yes,
because when city and private restrictions overlap, the stricter of
the two is applied.
a type of estate that allows for remainder or reversionary
interests Correct Answers Life estate
Alice, Tom, George, and Brenda bought a property as joint
tenants with the right of survivorship. When they bought the
property, they each had: Correct Answers a 25% share of
ownership interest
All partners assume unlimited personal liability in what type of
business organization? Correct Answers general partnership
an interest in an estate that will pass to another party at the death
of the person upon whom the life estate is based Correct
Answers Remainder interest
an interest in which, upon the death of the life estate owner, full
ownership reverts back to the original fee simple owner Correct
Answers Reversionary interest
Areas around a condominium such as a swimming pool and
laundry room are known as: Correct Answers common
elements
, At what point in the building process is a certificate of
occupancy issued? Correct Answers after construction has been
completed and the building has been inspected and deemed to be
in compliance with building codes
Blackberry bushes are growing in Heidi's backyard. Heidi has
the right to pick those blackberries, eat them, make them into
jam, or share them with her neighbor. This concept is known as:
Correct Answers Accession
Clarissa is a real estate licensee in Arizona. By law, what
document(s) must she have access to? Correct Answers the
Arizona Real Estate Law Book
Clayton tells trespassers to get off of his land. In doing so, which
right is Clayton exercising? Correct Answers The right of
exclusion
Co-op boards cannot reject applicants for which of these
reasons? Correct Answers being a member of a class protected
by the Fair Housing Act
Conga installed her family's candelabras on the wall in her
dining room when she first moved in. Ten years later, when she
gets ready to move, she removes the candelabras from the walls
so she can take them with her. What process did Conga go
through when she removed the candelabras? Correct Answers
Severance
