and answers | Updated RATED A+ | 2026
$90,000
The maximum amount of money that may be paid for any one licensee from the Recovery Fun
is:
a. $20,000
b. $30,000
c. $40,000
d. $90,000
$600,000
By June 30, the Real Estate Recovery Fund must maintain a balance of:
a. $200,000
b. $250,000
c. $300,000
d. $600,000
governor
The real estate Commissioner is appointed by the:
a. governor
b. advisory board
c. legislature
d. brokers within the state
protect the public
The primary purpose of real estate licensing is to:
a. have trained professionals
b. protect brokers against incompetent salespeople
c. avoid cu+hroat compe,,on
d. protect the public
an a+orney at law taking a lis,ng
The following would require a real estate license:
a. developer selling more than ten homes
,b. an a+orney in fact selling property for a principal
c. a trustee selling under a court order
d. an a+orney at law taking a lis,ng
ac,vate their license with other brokers
A broker loses his license. The broker's salespeople can:
a. close all transac,ons as soon as possible
b. ac,vate their licensees with other brokers
c. wait to see if their broker gets his license reinstated
d. con,nue to operate as before because it wasn't their fault the broker lost his license
She cannot charge for the service
A broker offers to prepare documents for a real estate transac,on at a fee of $35. Which of the
following is true?
a. she cannot charge for the service
b. she may charge if the par,es agree
c. she may charge if it is considered an escrow fee
d. she may charge if the fee was nego,ated
the buyer
The earnest money given with an offer to purchase and held in the broker's trust account is said
to belong to:
a. the buyer
b. the seller
c. the buyer and seller
d. the broker and seller
The Arizona Cons,tu,on
Licensed real estate brokers are given authority to draw those documents necessary in the
course of their work by:
a. The Arizona Cons,tu,on
b. the real estate code
c. the regula,ons of the Commissioner
d. the decision of the Arizona Supreme Court
90 days of residence in Arizona
The following is not required for a real estate salesperson license in Arizona.
a. 90 hours of educa,on
, b. 90 days of residence in Arizona
c. pass an examina,on
d. minimum age
community property
In Arizona, the law provides that if not specified, a husband and wife will hold property as:
a. joint tenants
b. community property
c. tenants by the en,rety
d. tenants in common
the son and granddaughter
A person dies intestate leaving behind a mother, a brother, a sister, a son and a granddaughter
who is the daughter of the deceased individual. Who will receive the estate?
a. the son
b. the son and granddaughter
c. the son and mother
d. the son, mother, and granddaughter
is a+ached to a person, not a property
An easement in gross:
a. is a+ached to a person, not a property
b. is always a nega,ve easement
c. must have a definite termina,on date
d. is an appurtenant easement
undivided interest in common area
One's ownership interest in a condominium is dis,nguishable from other types of real estate by
a(n):
a. divided interest in common area
b. undivided interest in common area
c. divided interest in limited common areas
d. undivided interest in the master deed areas
community property
In Arizona, property owned before marriage is sole and separate. Property acquired a=er
marriage would be considered:
a. community property