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AZ Real Estate 2025/2026 Final Exam (2 Latest
Versions)VERSION A Questions with 100% Detailed
Answers
CT is a licensed contractor with AZ Plumbing and Heating.
He just put in his two-week notice, and then he will start
working for Canyon Plumbing and Heating. Can he
transfer his license to his new employer? - ANSWER-No,
licenses aren't transferable.
Which of these statements accurately describes finance-
and housing-related legislation? - ANSWER-The Fair
Housing Act of 1968 prohibited discrimination in the sale,
rental, and financing of housing based on race, color,
religion, or national origin.
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If the education revolving fund exceeds ______ at the end
of any fiscal year, the excess is transferred into the state's
general fund. - ANSWER-$25,000
How long does an Arizona landlord have to return a
security deposit after a tenant moves out at the end of
their lease? - ANSWER-14 business days
Who is ultimately responsible for the actions of an Arizona
brokerage's licensed employees? - ANSWER-The
employing broker
All property management firms must deposit trust funds
within ______ days of receipt. - ANSWER-Three
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Which lease clause verifies facts that are already in
writing? - ANSWER-Estoppel
Jardin passed away suddenly, and when his family started
looking through his documents, they found a handwritten
will. Which of these statements about the will is true? -
ANSWER-A handwritten will, also called a holographic will,
may be valid if it meets other terms for validity.
Sophie only has 15% to put down on her new home. What
might the lender require in order for Sophie to obtain
conventional financing? - ANSWER-Private mortgage
insurance
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What is the calculation used to determine the estimated
monthly interest amount a borrower will pay on a loan? -
ANSWER-(Loan balance x interest rate) ÷ 12
Which of the following clauses is included in Fannie Mae's
multi-state note? - ANSWER-Late charge
To be considered a subdivider in Arizona, how many lots in
the same subdivision must be owned? - ANSWER-Six
Cooperative corporations own all of the following EXCEPT
______. - ANSWER-None of these; the corporation owns
all of these things.
AZ Real Estate 2025/2026 Final Exam (2 Latest
Versions)VERSION A Questions with 100% Detailed
Answers
CT is a licensed contractor with AZ Plumbing and Heating.
He just put in his two-week notice, and then he will start
working for Canyon Plumbing and Heating. Can he
transfer his license to his new employer? - ANSWER-No,
licenses aren't transferable.
Which of these statements accurately describes finance-
and housing-related legislation? - ANSWER-The Fair
Housing Act of 1968 prohibited discrimination in the sale,
rental, and financing of housing based on race, color,
religion, or national origin.
,2|Page
If the education revolving fund exceeds ______ at the end
of any fiscal year, the excess is transferred into the state's
general fund. - ANSWER-$25,000
How long does an Arizona landlord have to return a
security deposit after a tenant moves out at the end of
their lease? - ANSWER-14 business days
Who is ultimately responsible for the actions of an Arizona
brokerage's licensed employees? - ANSWER-The
employing broker
All property management firms must deposit trust funds
within ______ days of receipt. - ANSWER-Three
,3|Page
Which lease clause verifies facts that are already in
writing? - ANSWER-Estoppel
Jardin passed away suddenly, and when his family started
looking through his documents, they found a handwritten
will. Which of these statements about the will is true? -
ANSWER-A handwritten will, also called a holographic will,
may be valid if it meets other terms for validity.
Sophie only has 15% to put down on her new home. What
might the lender require in order for Sophie to obtain
conventional financing? - ANSWER-Private mortgage
insurance
, 4|Page
What is the calculation used to determine the estimated
monthly interest amount a borrower will pay on a loan? -
ANSWER-(Loan balance x interest rate) ÷ 12
Which of the following clauses is included in Fannie Mae's
multi-state note? - ANSWER-Late charge
To be considered a subdivider in Arizona, how many lots in
the same subdivision must be owned? - ANSWER-Six
Cooperative corporations own all of the following EXCEPT
______. - ANSWER-None of these; the corporation owns
all of these things.
