REALgESTATEgTESTgARIZONAg#5gCOMPLETEgSOLUTIONgQU
ESTIONSgANDgCORRECTgVERIFIEDgANSWERSgGRADEDgA+gLA
TESTgUPDATEg2024
RealgEstategtestgArizonag#5
Whengagbrokergrepresentsgagbuyergonlygingagtransaction,gwhichgofgthegfollowinggdutiesgwouldgthegbuye
rgbrokergowegthegseller?
(a) Honesty
(b) Confidentially
(c) Accountability
(d) Loyalty
(a) Honesty
AllgthegfollowinggstatementsgaboutgagdeedginglieugofgforeclosuregaregtruegEXCEPT:
(a) Lendergdoesgnotghavegtogacceptgthegdeedginglieugfromgthegowner
(b) Deedgrecordedgbygtheglendergandgeliminatesgallgjuniorgliens
(c) Lendergmaygacceptgthisgdeedgtogavoidgexpensivegforeclosure
(d) Voluntarygalienation
(b) Deedgrecordedgbygtheglendergandgeliminatesgallgjuniorgliens
Thegideagthatgprincipalsgmaygbegheldgliablegforgthegactsgofgtheirgagentsgis:g(?)
(a) Fiduciarygduty
(b) Vicariousgliability
(c) Imputedgnotice
(d) Caveatgemptor
(b)gVicariousgliability
,Whenevergangagentgisgactinggtogfurthergthegprincipal'sgbusinessginterests,gthegprincipalgwillgbegheldgvica
riouslygliablegforgthegagent'sgintentionalgtorts.
Ag"findergfee"gisgbestgdescribedgas
(a) Agbroker-to-brokergreferralgfee
(b) Agtenant'sgbribegforgreducinggthegtenant'sgsecuritygdeposit
(c) Agbroker-to-salespersongbonus
(d) Agcreditgtogagresidentialgtenant
(d)gAgcreditgtogagresidentialgtenant
SunshinegTowersgApartmentsghasgagpolicygofgcollectinggsecuritygdepositsgofg$1,000gfromgitsgtenants.gM
aria,gangAsiangmothergofgtwo,gwasgchargedg$2,000.gThisgvariationgingthegtermsgofgthegapartmentgleasegi
sgagviolationgofgwhatgprotectedgclass?
(a) Religion
(b) Age
(c) Gender
(d) Familialgstatus
(d)gFamilialgstatus
Whengisgthegwarrantygdeedgactuallyggivengtogthegbuyergundergaglandgcontract?
(a) Onlygwhengpaidgingfull
(b) Afterg50%gpaid
(c) Aftergsixgmonths
(d) Atgthegtimegofgsale
(a) Onlygwhengpaidgingfull
,Mr.gandgMrs.gB.gsoldgtheirghousegforg$113,000,gwithgag7%gcommission.gThegbuyergisg gettinggagVAgloangf
or
$110,000.gThegsellergisgaskedgtogpaygtheg2gandg1/2gpoints,gtitleginsurancegofg$120,gtermiteginspectiongof
$40.gTheygalsoghavegagbalancegofg$72,340gongtheirgcurrentghomegloan.gHowgmuchgmoneygwillgtheygbegr
eceivinggatgclosegofgescrow?
(a) $29,960
(b) $29,765
(C)g$30,000
(d)g$29,840
(d)g$29,840
1) 113,000gXg0.07g=g7,910g(commission)
2) 110,000gXg2.5%g=g2,750g(points)
3) 113,000g-g7,910g-g2,750g-120g-g40g-g72,340g=g29,840g(netgtogseller)
Patents,gtrademarks,gcopyrightsgandgroyaltiesgaregangexamplegof:
(a) Intangiblegpersonalty
(b) Incorporealgrealty
(c) CorporealgRealty
(d) Tangiblegpersonalty
(a) Intangiblegpersonalty
Ifgtheglandlordgfailsgtoggivegthegtenantgagfullgaccountinggofgthegsecuritygdepositgwithingthegrequiredgtim
e,gwhichgofgthegfollowinggisgtrue?
(a) Theglandlordgwouldgonlygbegrequiredgtogreturngthegoriginalgdepositgplusginterest
(b) Theglandlordgwouldgbegliablegforgthreegtimesgthegamountgwrongfullygheld
(c) Theglandlordgwouldgbegrequiredgtogreturngthegoriginalgdepositgplusgtwicegthegamountgofginterest
(d) Theglandlordgwouldgbegliablegforgtwicegthegamountgwrongfullygheld
(b) Theglandlordgwouldgbegliablegforgthreegtimesgthegamountgwrongfullygheld
, Agbrokergreceivesgearnestgmoneygfromgagbuyergbutginsteadgofgplacinggthegmoneygintogthegtrustgaccoun
tgthegbrokergpaysgcompanygbills.gThisgactiongisgangexamplegof:
(a) Commingling
(b) Subrogation
(C)gConversion
(d)gBonagfide
(C)gConversion
WhatgisgthegpurposegofgthegForeigngInvestmentgRealgPropertygAct?
(a) Requiresgtaxgwithholdinggifgsellergisgagforeigner
(b) ReportsgthegsalesgpricegtogIRS
(c) Describesgthegloangstatusgofgforeigngnationals
(d) Reportsgthegsalegofgpersonalgproperty
(a) Requiresgtaxgwithholdinggifgsellergisgagforeigner
StartgingthegmiddlegofgSectiong16gandggogsouthg1320gfeetgthencegeastg1320gfeetgthencegnorthg1320gfee
tgandgbackgtogthegpointgofgbeginning.gHowgmanygacresgaregcontainedgingthisgdescription?
(a) 160
(b) 20
(c) 40
(d) 80
(c) 40
Whengaglicenseegleavesgagbroker,gtheglicense:
(a) Goesgwithgtheglicensee
ESTIONSgANDgCORRECTgVERIFIEDgANSWERSgGRADEDgA+gLA
TESTgUPDATEg2024
RealgEstategtestgArizonag#5
Whengagbrokergrepresentsgagbuyergonlygingagtransaction,gwhichgofgthegfollowinggdutiesgwouldgthegbuye
rgbrokergowegthegseller?
(a) Honesty
(b) Confidentially
(c) Accountability
(d) Loyalty
(a) Honesty
AllgthegfollowinggstatementsgaboutgagdeedginglieugofgforeclosuregaregtruegEXCEPT:
(a) Lendergdoesgnotghavegtogacceptgthegdeedginglieugfromgthegowner
(b) Deedgrecordedgbygtheglendergandgeliminatesgallgjuniorgliens
(c) Lendergmaygacceptgthisgdeedgtogavoidgexpensivegforeclosure
(d) Voluntarygalienation
(b) Deedgrecordedgbygtheglendergandgeliminatesgallgjuniorgliens
Thegideagthatgprincipalsgmaygbegheldgliablegforgthegactsgofgtheirgagentsgis:g(?)
(a) Fiduciarygduty
(b) Vicariousgliability
(c) Imputedgnotice
(d) Caveatgemptor
(b)gVicariousgliability
,Whenevergangagentgisgactinggtogfurthergthegprincipal'sgbusinessginterests,gthegprincipalgwillgbegheldgvica
riouslygliablegforgthegagent'sgintentionalgtorts.
Ag"findergfee"gisgbestgdescribedgas
(a) Agbroker-to-brokergreferralgfee
(b) Agtenant'sgbribegforgreducinggthegtenant'sgsecuritygdeposit
(c) Agbroker-to-salespersongbonus
(d) Agcreditgtogagresidentialgtenant
(d)gAgcreditgtogagresidentialgtenant
SunshinegTowersgApartmentsghasgagpolicygofgcollectinggsecuritygdepositsgofg$1,000gfromgitsgtenants.gM
aria,gangAsiangmothergofgtwo,gwasgchargedg$2,000.gThisgvariationgingthegtermsgofgthegapartmentgleasegi
sgagviolationgofgwhatgprotectedgclass?
(a) Religion
(b) Age
(c) Gender
(d) Familialgstatus
(d)gFamilialgstatus
Whengisgthegwarrantygdeedgactuallyggivengtogthegbuyergundergaglandgcontract?
(a) Onlygwhengpaidgingfull
(b) Afterg50%gpaid
(c) Aftergsixgmonths
(d) Atgthegtimegofgsale
(a) Onlygwhengpaidgingfull
,Mr.gandgMrs.gB.gsoldgtheirghousegforg$113,000,gwithgag7%gcommission.gThegbuyergisg gettinggagVAgloangf
or
$110,000.gThegsellergisgaskedgtogpaygtheg2gandg1/2gpoints,gtitleginsurancegofg$120,gtermiteginspectiongof
$40.gTheygalsoghavegagbalancegofg$72,340gongtheirgcurrentghomegloan.gHowgmuchgmoneygwillgtheygbegr
eceivinggatgclosegofgescrow?
(a) $29,960
(b) $29,765
(C)g$30,000
(d)g$29,840
(d)g$29,840
1) 113,000gXg0.07g=g7,910g(commission)
2) 110,000gXg2.5%g=g2,750g(points)
3) 113,000g-g7,910g-g2,750g-120g-g40g-g72,340g=g29,840g(netgtogseller)
Patents,gtrademarks,gcopyrightsgandgroyaltiesgaregangexamplegof:
(a) Intangiblegpersonalty
(b) Incorporealgrealty
(c) CorporealgRealty
(d) Tangiblegpersonalty
(a) Intangiblegpersonalty
Ifgtheglandlordgfailsgtoggivegthegtenantgagfullgaccountinggofgthegsecuritygdepositgwithingthegrequiredgtim
e,gwhichgofgthegfollowinggisgtrue?
(a) Theglandlordgwouldgonlygbegrequiredgtogreturngthegoriginalgdepositgplusginterest
(b) Theglandlordgwouldgbegliablegforgthreegtimesgthegamountgwrongfullygheld
(c) Theglandlordgwouldgbegrequiredgtogreturngthegoriginalgdepositgplusgtwicegthegamountgofginterest
(d) Theglandlordgwouldgbegliablegforgtwicegthegamountgwrongfullygheld
(b) Theglandlordgwouldgbegliablegforgthreegtimesgthegamountgwrongfullygheld
, Agbrokergreceivesgearnestgmoneygfromgagbuyergbutginsteadgofgplacinggthegmoneygintogthegtrustgaccoun
tgthegbrokergpaysgcompanygbills.gThisgactiongisgangexamplegof:
(a) Commingling
(b) Subrogation
(C)gConversion
(d)gBonagfide
(C)gConversion
WhatgisgthegpurposegofgthegForeigngInvestmentgRealgPropertygAct?
(a) Requiresgtaxgwithholdinggifgsellergisgagforeigner
(b) ReportsgthegsalesgpricegtogIRS
(c) Describesgthegloangstatusgofgforeigngnationals
(d) Reportsgthegsalegofgpersonalgproperty
(a) Requiresgtaxgwithholdinggifgsellergisgagforeigner
StartgingthegmiddlegofgSectiong16gandggogsouthg1320gfeetgthencegeastg1320gfeetgthencegnorthg1320gfee
tgandgbackgtogthegpointgofgbeginning.gHowgmanygacresgaregcontainedgingthisgdescription?
(a) 160
(b) 20
(c) 40
(d) 80
(c) 40
Whengaglicenseegleavesgagbroker,gtheglicense:
(a) Goesgwithgtheglicensee
