ARIZONA SCHOOL OF REAL ESTATE & BUSINESS SALES EXAM LATEST 2025 WITH QUESTIONS
AND C0RRECT VERIFIED ANSWERS GRADED A+ GUARANTEED 100% PASS
When a deed in lieu of foreclosure is given to a lender, which of the following is true? - (ANSWER)Time
and cost are less
B buys land from W using a deed of trust as security for the carryback. B makes all the payments except
the final three and is now in default. W does nothing and decides not to foreclose until later. By doing
this W is exercising his right of: - (ANSWER)Forbearance
A commercial building is sold in a foreclosure for $100,000 less than the balance due the lender. Which
of the following is true? - (ANSWER)The lender can obtain a deficiency judgment against the borrower
Which of the agencies listed below guarantees loans? - (ANSWER)GNMA
A buyer pays 20% down and obtains a real estate mortgage. The buyers makes no further payments.
What clause would the lender now exercise? - (ANSWER)Acceleration
A loan which is subordinate to other loans, but includes the amount of the other loans is called: -
(ANSWER)Wraparound
A seasoned loan refers to: - (ANSWER)Good Payment History
Who has title in a land contract? - (ANSWER)Vendor
What would discourage a buyer to take a bank wrap around mortgage? - (ANSWER)Seller's loan has an
alienation clause
After satisfying a first lien, what position is the second lien now in? - (ANSWER)First Position
, ARIZONA SCHOOL OF REAL ESTATE & BUSINESS SALES EXAM LATEST 2025 WITH QUESTIONS
AND C0RRECT VERIFIED ANSWERS GRADED A+ GUARANTEED 100% PASS
A property has both a first and second lien. Both are in default. Which of the following statements are
true? - (ANSWER)The second would be terminated if the first goes through a successful judicial
foreclosure
FNMA is: - (ANSWER)Government sponsored agency
Land contract is another name for: - (ANSWER)Agreement for Sale
When an estoppel certificate is used by a lender, he is primarily working in the: - (ANSWER)Secondary
market
Which of the following would not apply to a mortgage? - (ANSWER)Deed Recordation
Which of the following applies to the Federal National Mortgage Association? - (ANSWER)Government
related agency
After a mortgage foreclosure, if the sale amount was insufficient to cover the debt, the lender may ask
for: - (ANSWER)Deficiency judgment
A vendor would be which of the following parties? - (ANSWER)Seller in an agreement for sale
The vendee is the: - (ANSWER)Buyer in an agreement for sale
What is it called when the Federal Reserve loans money to commercial banks? - (ANSWER)Discount rate
After a trustee's sale the excess proceeds go to the: - (ANSWER)Trustor
A construction loan is generally considered a: - (ANSWER)Short term- interim
, ARIZONA SCHOOL OF REAL ESTATE & BUSINESS SALES EXAM LATEST 2025 WITH QUESTIONS
AND C0RRECT VERIFIED ANSWERS GRADED A+ GUARANTEED 100% PASS
Construction loan monies are generally obtained from - (ANSWER)Commercial banks
When a sale lease back takes place the advantage for the lessee is that he can: - (ANSWER)Deduct the
rent as an expense
Which of the following could be borrowed in a tax deferred exchange? - (ANSWER)Boot
When can the tax on a capital gain be deferred? - (ANSWER)Property exchange
Which of the following would not be considered an income tax deduction: - (ANSWER)Tax depreciation
on your personal residence
A real estate investment that acts as a mutual fund but does not give you individual ownership is best
described as a: - (ANSWER)Real Estate Investment Trust, a security instrument
When figuring capital gain from the sale of a property, which of the following would lower your gain? -
(ANSWER)Capital improvements
When a new stock is being offered to the public, which of the following would most likely be offered as a
disclosure? - (ANSWER)Prospectus
If a party wants to maximize leverage, he should: - (ANSWER)Have the highest loan to value ratio
When a buyer is using 100% leverage in a transaction, they would least likely be interested in: -
(ANSWER)short term loan
Boot is best defined as: - (ANSWER)Loan interest
, ARIZONA SCHOOL OF REAL ESTATE & BUSINESS SALES EXAM LATEST 2025 WITH QUESTIONS
AND C0RRECT VERIFIED ANSWERS GRADED A+ GUARANTEED 100% PASS
Regarding residential owner occupied property, which of the following would be a deduction on a
Federal Income Tax return - (ANSWER)Price Paid
Buyer wants to know his cash on cash return. What is he most interested in? - (ANSWER)Investment
When can an owner of a single family residence depreciate the property for tax purposes: - (ANSWER)If
the property is a rental
You own a duplex and rent one unit. Which of the following is true? - (ANSWER)You may deduct the
expenses only for the rented unit
Which of the following can be deducted from income tax: - (ANSWER)Property taxes and interest
payments
What is tax deductible on your personal residence? - (ANSWER)Interest and taxes
Cash on cash return would involve which of the following concepts - (ANSWER)Leverage
If property is to be depreciated, it must be: - (ANSWER)Improved
The basis of a personal residence is affected by which of the following: - (ANSWER)Patio addition
If a seller conveys property with the idea of completing a tax deferred exchange and designates the
exchange property 25 days after close of escrow, which of the following is true? - (ANSWER)The seller
has 45 days to identify that exchange property at close of escrow
AND C0RRECT VERIFIED ANSWERS GRADED A+ GUARANTEED 100% PASS
When a deed in lieu of foreclosure is given to a lender, which of the following is true? - (ANSWER)Time
and cost are less
B buys land from W using a deed of trust as security for the carryback. B makes all the payments except
the final three and is now in default. W does nothing and decides not to foreclose until later. By doing
this W is exercising his right of: - (ANSWER)Forbearance
A commercial building is sold in a foreclosure for $100,000 less than the balance due the lender. Which
of the following is true? - (ANSWER)The lender can obtain a deficiency judgment against the borrower
Which of the agencies listed below guarantees loans? - (ANSWER)GNMA
A buyer pays 20% down and obtains a real estate mortgage. The buyers makes no further payments.
What clause would the lender now exercise? - (ANSWER)Acceleration
A loan which is subordinate to other loans, but includes the amount of the other loans is called: -
(ANSWER)Wraparound
A seasoned loan refers to: - (ANSWER)Good Payment History
Who has title in a land contract? - (ANSWER)Vendor
What would discourage a buyer to take a bank wrap around mortgage? - (ANSWER)Seller's loan has an
alienation clause
After satisfying a first lien, what position is the second lien now in? - (ANSWER)First Position
, ARIZONA SCHOOL OF REAL ESTATE & BUSINESS SALES EXAM LATEST 2025 WITH QUESTIONS
AND C0RRECT VERIFIED ANSWERS GRADED A+ GUARANTEED 100% PASS
A property has both a first and second lien. Both are in default. Which of the following statements are
true? - (ANSWER)The second would be terminated if the first goes through a successful judicial
foreclosure
FNMA is: - (ANSWER)Government sponsored agency
Land contract is another name for: - (ANSWER)Agreement for Sale
When an estoppel certificate is used by a lender, he is primarily working in the: - (ANSWER)Secondary
market
Which of the following would not apply to a mortgage? - (ANSWER)Deed Recordation
Which of the following applies to the Federal National Mortgage Association? - (ANSWER)Government
related agency
After a mortgage foreclosure, if the sale amount was insufficient to cover the debt, the lender may ask
for: - (ANSWER)Deficiency judgment
A vendor would be which of the following parties? - (ANSWER)Seller in an agreement for sale
The vendee is the: - (ANSWER)Buyer in an agreement for sale
What is it called when the Federal Reserve loans money to commercial banks? - (ANSWER)Discount rate
After a trustee's sale the excess proceeds go to the: - (ANSWER)Trustor
A construction loan is generally considered a: - (ANSWER)Short term- interim
, ARIZONA SCHOOL OF REAL ESTATE & BUSINESS SALES EXAM LATEST 2025 WITH QUESTIONS
AND C0RRECT VERIFIED ANSWERS GRADED A+ GUARANTEED 100% PASS
Construction loan monies are generally obtained from - (ANSWER)Commercial banks
When a sale lease back takes place the advantage for the lessee is that he can: - (ANSWER)Deduct the
rent as an expense
Which of the following could be borrowed in a tax deferred exchange? - (ANSWER)Boot
When can the tax on a capital gain be deferred? - (ANSWER)Property exchange
Which of the following would not be considered an income tax deduction: - (ANSWER)Tax depreciation
on your personal residence
A real estate investment that acts as a mutual fund but does not give you individual ownership is best
described as a: - (ANSWER)Real Estate Investment Trust, a security instrument
When figuring capital gain from the sale of a property, which of the following would lower your gain? -
(ANSWER)Capital improvements
When a new stock is being offered to the public, which of the following would most likely be offered as a
disclosure? - (ANSWER)Prospectus
If a party wants to maximize leverage, he should: - (ANSWER)Have the highest loan to value ratio
When a buyer is using 100% leverage in a transaction, they would least likely be interested in: -
(ANSWER)short term loan
Boot is best defined as: - (ANSWER)Loan interest
, ARIZONA SCHOOL OF REAL ESTATE & BUSINESS SALES EXAM LATEST 2025 WITH QUESTIONS
AND C0RRECT VERIFIED ANSWERS GRADED A+ GUARANTEED 100% PASS
Regarding residential owner occupied property, which of the following would be a deduction on a
Federal Income Tax return - (ANSWER)Price Paid
Buyer wants to know his cash on cash return. What is he most interested in? - (ANSWER)Investment
When can an owner of a single family residence depreciate the property for tax purposes: - (ANSWER)If
the property is a rental
You own a duplex and rent one unit. Which of the following is true? - (ANSWER)You may deduct the
expenses only for the rented unit
Which of the following can be deducted from income tax: - (ANSWER)Property taxes and interest
payments
What is tax deductible on your personal residence? - (ANSWER)Interest and taxes
Cash on cash return would involve which of the following concepts - (ANSWER)Leverage
If property is to be depreciated, it must be: - (ANSWER)Improved
The basis of a personal residence is affected by which of the following: - (ANSWER)Patio addition
If a seller conveys property with the idea of completing a tax deferred exchange and designates the
exchange property 25 days after close of escrow, which of the following is true? - (ANSWER)The seller
has 45 days to identify that exchange property at close of escrow
