AZ CE Shop Final Exam Questions With Complete
Solutions
Administrative Law Correct Answers The body of law created
by administrative agencies (in the form of rules, regulations,
orders, and decisions) in order to carry out their duties and
responsibilities.
antittrust laws Correct Answers Antitrust laws prohibit items
such as price fixing, group boycotting, market allocation, and
tie-in arrangements. Setting standard industry commission rates
would be an example of price fixing.
Arizona Administrative Code Correct Answers Aka
commissioner's rules; the official publication of Arizona's
codified rules that carries the force of law without actually being
law
Arizona Homestead Exemption Correct Answers The Arizona
homestead exemption allows homeowners to exempt up to
$250,000 of the value in their primary residence (homestead)
from seizure for payment of certain types of debts, but not
foreclosure.
Arizona Real Estate Advisory Board Correct Answers The
board consists of 10 governor-appointed members who serve
six-year terms. Real Estate Advisory Board membership terms
are staggered so that three members' terms expire on January 31
of each odd-numbered year.
, Arizona Revised Statutes Correct Answers Laws enacted by
the Arizona State Legislature; may not violate the federal or
state constitutions or federal law
Arizona State Constitution Correct Answers Empowers
licensed real estate brokers and salespersons to draft or fill out,
without charge, any and all real estate transaction instruments
Arizona's anti-deficiency statutes Correct Answers Arizona has
anti-deficiency statutes that protect most residential property
from a deficiency judgment after foreclosure.
Bilateral Contract Correct Answers promise for a promise
Bracketing Correct Answers Bracketing determines a probable
range of property values by comparing a group of comparable
sales to the subject. The appraiser attempts to include both
superior and inferior units of comparison, such as age and
transaction price.
Case Law Correct Answers
Clear Cooperation Policy Correct Answers a NAR-mandated
policy that governs the public marketing of listings and their
entry into the multiple listing service
The Clear Cooperation policy doesn't apply to certain properties,
such as: commercial, rentals, and new developments comprising
multiple properties.
Community Property Correct Answers property acquired
during marriage and owned equally by both spouses
Solutions
Administrative Law Correct Answers The body of law created
by administrative agencies (in the form of rules, regulations,
orders, and decisions) in order to carry out their duties and
responsibilities.
antittrust laws Correct Answers Antitrust laws prohibit items
such as price fixing, group boycotting, market allocation, and
tie-in arrangements. Setting standard industry commission rates
would be an example of price fixing.
Arizona Administrative Code Correct Answers Aka
commissioner's rules; the official publication of Arizona's
codified rules that carries the force of law without actually being
law
Arizona Homestead Exemption Correct Answers The Arizona
homestead exemption allows homeowners to exempt up to
$250,000 of the value in their primary residence (homestead)
from seizure for payment of certain types of debts, but not
foreclosure.
Arizona Real Estate Advisory Board Correct Answers The
board consists of 10 governor-appointed members who serve
six-year terms. Real Estate Advisory Board membership terms
are staggered so that three members' terms expire on January 31
of each odd-numbered year.
, Arizona Revised Statutes Correct Answers Laws enacted by
the Arizona State Legislature; may not violate the federal or
state constitutions or federal law
Arizona State Constitution Correct Answers Empowers
licensed real estate brokers and salespersons to draft or fill out,
without charge, any and all real estate transaction instruments
Arizona's anti-deficiency statutes Correct Answers Arizona has
anti-deficiency statutes that protect most residential property
from a deficiency judgment after foreclosure.
Bilateral Contract Correct Answers promise for a promise
Bracketing Correct Answers Bracketing determines a probable
range of property values by comparing a group of comparable
sales to the subject. The appraiser attempts to include both
superior and inferior units of comparison, such as age and
transaction price.
Case Law Correct Answers
Clear Cooperation Policy Correct Answers a NAR-mandated
policy that governs the public marketing of listings and their
entry into the multiple listing service
The Clear Cooperation policy doesn't apply to certain properties,
such as: commercial, rentals, and new developments comprising
multiple properties.
Community Property Correct Answers property acquired
during marriage and owned equally by both spouses
