AZ STATE SPECIFIC EXAM (Latest Update
) Questions & Answers {Grade
A} 100% Correct
When is the very latest that a consent for limited representation may be signed by the
buyer and
the seller?
a. Before the licensee allows the buyer to view the seller's property that is listed with
the brokerage.
b. Before either party becomes bound to each other in a purchase contract.
c. Before the seller employs the brokerage to list and market the property.
d. Before the licensees of the brokerage are allowed to discuss property that is listed
with the brokerage with the buyer or seller. - correct answer b. Before either party
becomes bound to each other in a purchase contract.
,Which of the following is TRUE regarding the statute of limitations to bring a civil action
in an
Arizona court against someone for breach of contract?
a. For breach of a written contract, the statute of limitations is six years from the date
of
the breach.
b. For breach of an oral contract, the statute of limitations is five years from the date of
the breach.
c. For breach of an employment contract, the statute of limitations is two years from
the
date of the breach.
d. For breach of an employment contract when the breach involves fraud, the statute of
limitations is one month. - correct answer a. For breach of a written contract, the
statute of limitations is six years from the date of
the breach.
,For Arizona residents or for real property in Arizona, the maximum interest rate for
any loan is
_____.
a. 10%
b. Whatever the parties agree to
c. 12%
d. 18% - correct answer b. Whatever the parties agree to
Which of the following is NOT a condition for compensation to an Arizona real estate
licensee
for performing the work for a broker price opinion?
a. The opinion must not be referred to as an appraisal.
b. The opinion must be provided by an Arizona real estate licensee.
c. The process from which the opinion is derived must be conducted by clerical
, personnel and not by the real estate licensee.
d. The compensation to the licensee for the work must be paid through the employing
brokerage. - correct answer c. The process from which the opinion is derived must be
conducted by clerical
personnel and not by the real estate licensee.
Where would one look for the law that requires all contracts for the sale and purchase
of real
estate to be in writing to be enforceable?
a. In Article 26 of the Arizona State Constitution.
b. In the Arizona Revised Statutes.
c. In the Arizona Commissioner's Rules.
d. In Article 10 of the Arizona State Constitution. - correct answer b. In the Arizona
Revised Statutes
) Questions & Answers {Grade
A} 100% Correct
When is the very latest that a consent for limited representation may be signed by the
buyer and
the seller?
a. Before the licensee allows the buyer to view the seller's property that is listed with
the brokerage.
b. Before either party becomes bound to each other in a purchase contract.
c. Before the seller employs the brokerage to list and market the property.
d. Before the licensees of the brokerage are allowed to discuss property that is listed
with the brokerage with the buyer or seller. - correct answer b. Before either party
becomes bound to each other in a purchase contract.
,Which of the following is TRUE regarding the statute of limitations to bring a civil action
in an
Arizona court against someone for breach of contract?
a. For breach of a written contract, the statute of limitations is six years from the date
of
the breach.
b. For breach of an oral contract, the statute of limitations is five years from the date of
the breach.
c. For breach of an employment contract, the statute of limitations is two years from
the
date of the breach.
d. For breach of an employment contract when the breach involves fraud, the statute of
limitations is one month. - correct answer a. For breach of a written contract, the
statute of limitations is six years from the date of
the breach.
,For Arizona residents or for real property in Arizona, the maximum interest rate for
any loan is
_____.
a. 10%
b. Whatever the parties agree to
c. 12%
d. 18% - correct answer b. Whatever the parties agree to
Which of the following is NOT a condition for compensation to an Arizona real estate
licensee
for performing the work for a broker price opinion?
a. The opinion must not be referred to as an appraisal.
b. The opinion must be provided by an Arizona real estate licensee.
c. The process from which the opinion is derived must be conducted by clerical
, personnel and not by the real estate licensee.
d. The compensation to the licensee for the work must be paid through the employing
brokerage. - correct answer c. The process from which the opinion is derived must be
conducted by clerical
personnel and not by the real estate licensee.
Where would one look for the law that requires all contracts for the sale and purchase
of real
estate to be in writing to be enforceable?
a. In Article 26 of the Arizona State Constitution.
b. In the Arizona Revised Statutes.
c. In the Arizona Commissioner's Rules.
d. In Article 10 of the Arizona State Constitution. - correct answer b. In the Arizona
Revised Statutes
