Chapter 10 ASREB Review Exam Questions and
Answers
Article XXVI of Arizona Constitution - Answers-permits licensed real estate brokers and
agents to prepare documents
.What are real estate brokers and agents limited to in Article XXVI of the AZ
Constitution? - Answers-Limited to transactions handled by their brokerage firm
.Can brokers and agents charge a fee for document preparation? - Answers-No
.The statute of frauds constitutes that all real estate contracts must be what in order to
be enforceable? - Answers-written!!
.Arizona Department of Real Estate (ADRE) - Answers-oversees licensure and
regulation
investigates complaints, licensing, and education issues
.Real Estate Commissioner - Answers-oversees licenses and licensees
position requires 5 years in banking, title, or real estate and 3 years in administration
.A licensee may not charge for document preparation due to? - Answers-Arizona
Constitution Article XXVI
.The right for a licensee to prepare contracts in Arizona comes from? - Answers-Arizona
Constitution Article XXVI
.What authority does the commissioner have? - Answers--formulate commissioner rules
-issue policy statements
-issue RE licenses
-suspend or revoke licenses (after formal hearing)
-investigate a licensee
.Can the real estate commissioner hold an active real estate license? - Answers-no
.The real estate rules are formulated by the? - Answers-commissioner
.The commissioner has the power to do all of the following EXCEPT?
a. prescribe rules and regulations
b. investigate signed written complaints
c. examine office records
d. create real estate statutes - Answers-D. create real estate statutes
, .Real Estate Advisory Board - Answers--advises commissioner on real estate issues
and evaluated performance
-authorized to issue notice of investigation
.Who is the RE advisory board made of? - Answers-10 volunteer board members
appointed by the governor
.How long do RE advisory board members serve for? - Answers-6 years
.How often does the advisory board meet? - Answers-At least quarterly
.Who is the real estate advisory board appointed by? - Answers-The governor
.What is true regarding the real estate advisory board? - Answers-They will advise and
evaluate the commissioner
.Who is the ADRE notice of investigation issued to? - Answers-licensee and employing
broker
.How long does a licensee have to respond to a notice of investigation? - Answers-14
days
.How long does a licensee have to respond to the arizona governors notice of hearing?
- Answers-20 days
.When is a license required - Answers-for anyone who performs or offers to perform real
estate brokerage-related acts for compensation or the expectation of compensation for
another person
.Are applicants requires to live in AZ? - Answers-no
.What are the 3 types of real estate licenes? - Answers-1. real estate entity
2. real estate broker (designated, self-employed, associate)
3. real estate salesperson
.Are license applicants required to live in AZ - Answers-No
.What happens to licenses not being used? - Answers-They go back to department of
real estate
.How many licenses can be issued to a person at a time? - Answers-One
.How many employing brokers can a RE agent have at a time? - Answers-1
.What kinds of licenses can a licensee hold at a time? - Answers-cemetary, membership
camping, real estate
Answers
Article XXVI of Arizona Constitution - Answers-permits licensed real estate brokers and
agents to prepare documents
.What are real estate brokers and agents limited to in Article XXVI of the AZ
Constitution? - Answers-Limited to transactions handled by their brokerage firm
.Can brokers and agents charge a fee for document preparation? - Answers-No
.The statute of frauds constitutes that all real estate contracts must be what in order to
be enforceable? - Answers-written!!
.Arizona Department of Real Estate (ADRE) - Answers-oversees licensure and
regulation
investigates complaints, licensing, and education issues
.Real Estate Commissioner - Answers-oversees licenses and licensees
position requires 5 years in banking, title, or real estate and 3 years in administration
.A licensee may not charge for document preparation due to? - Answers-Arizona
Constitution Article XXVI
.The right for a licensee to prepare contracts in Arizona comes from? - Answers-Arizona
Constitution Article XXVI
.What authority does the commissioner have? - Answers--formulate commissioner rules
-issue policy statements
-issue RE licenses
-suspend or revoke licenses (after formal hearing)
-investigate a licensee
.Can the real estate commissioner hold an active real estate license? - Answers-no
.The real estate rules are formulated by the? - Answers-commissioner
.The commissioner has the power to do all of the following EXCEPT?
a. prescribe rules and regulations
b. investigate signed written complaints
c. examine office records
d. create real estate statutes - Answers-D. create real estate statutes
, .Real Estate Advisory Board - Answers--advises commissioner on real estate issues
and evaluated performance
-authorized to issue notice of investigation
.Who is the RE advisory board made of? - Answers-10 volunteer board members
appointed by the governor
.How long do RE advisory board members serve for? - Answers-6 years
.How often does the advisory board meet? - Answers-At least quarterly
.Who is the real estate advisory board appointed by? - Answers-The governor
.What is true regarding the real estate advisory board? - Answers-They will advise and
evaluate the commissioner
.Who is the ADRE notice of investigation issued to? - Answers-licensee and employing
broker
.How long does a licensee have to respond to a notice of investigation? - Answers-14
days
.How long does a licensee have to respond to the arizona governors notice of hearing?
- Answers-20 days
.When is a license required - Answers-for anyone who performs or offers to perform real
estate brokerage-related acts for compensation or the expectation of compensation for
another person
.Are applicants requires to live in AZ? - Answers-no
.What are the 3 types of real estate licenes? - Answers-1. real estate entity
2. real estate broker (designated, self-employed, associate)
3. real estate salesperson
.Are license applicants required to live in AZ - Answers-No
.What happens to licenses not being used? - Answers-They go back to department of
real estate
.How many licenses can be issued to a person at a time? - Answers-One
.How many employing brokers can a RE agent have at a time? - Answers-1
.What kinds of licenses can a licensee hold at a time? - Answers-cemetary, membership
camping, real estate
