1|Page
ASREB EXAM QUESTIONS AND ANSWERS 2025
Salesperson is working for a principal, but the
salesperson exceeds authority in agreement. Principal
does nothing to correct the actions, and the public is led
to believe the actions were okay. Agency? - .....ANSWER
...✔✔ Estoppel
Amount stated in a purchase contract in case the buyer
breaches is called: - .....ANSWER ...✔✔ Liquidated
In a sublease with a positive leasehold who benefits
from excess rent? - .....ANSWER ...✔✔ Sub-lessor
Property taxes are 1,525. 1st half paid by seller closes
November 2nd - .....ANSWER ...✔✔ 512.57 Debit
seller, credit buyer (518.07)
Deed of trust is created, it also needs: - .....ANSWER
...✔✔ Note
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Consumer financial protection bureau is governing -
.....ANSWER ...✔✔ Savings & Loan Associations
Fixed rate 30 year loan is partially prepaid, has an
effect on - .....ANSWER ...✔✔ Shortening the life of
the loan
Buyers interest in a purchase contract is assigned to 3rd
party, sellers' permission - .....ANSWER ...✔✔ Never
Required
Apt. 2 units :900, 2550 - .....ANSWER ...✔✔ 2,030
90,000 1500 + 6% annum - .....ANSWER ...✔✔
427.50
Sell house for 113,000 7% VA Loan 110,000 2 ½
points termite inspection - .....ANSWER ...✔✔ 29,840
Commissioner may issue cease and desist on all but -
.....ANSWER ...✔✔ Appeal to Advisory Board
Low income loans - .....ANSWER ...✔✔ GNMA
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Closing statement not pro-rated - .....ANSWER ...✔✔
Security deposit
What is not required on brokerage receipt -
.....ANSWER ...✔✔ brokerage name
Brokers are required to have all except: - .....ANSWER
...✔✔ Trust Account
Not appear on public report - .....ANSWER ...✔✔
Market Value
Taxes are 915 a year, seller paid 1st half on October
1, close escrow on 11/16 - .....ANSWER ...✔✔ 340
Debit Seller
Relationship of Licensee to Broker - .....ANSWER
...✔✔ General
Sell June 6th, Water Bill $86 and taxes are $778 -
.....ANSWER ...✔✔ 437 Credit Seller, 492 Debit
Buyer
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Life Tenant Holds - .....ANSWER ...✔✔ Fee Simple
Couplings - .....ANSWER ...✔✔ Home
Inspectors/Arizona Board of Technical Registration
When a broker moves their office the sign must be
removed - .....ANSWER ...✔✔ Immediately
Property closes on June 15, using 365 days credit to the
seller when 1200 was paid - .....ANSWER ...✔✔
657.54
When you appraise land and ad it to the depreciated
value of the improved property, what appraisal
approach is being used - .....ANSWER ...✔✔ Cost
Term used by surveyors - .....ANSWER ...✔✔
Benchmark
Right to license agents - .....ANSWER ...✔✔
legislature
ASREB EXAM QUESTIONS AND ANSWERS 2025
Salesperson is working for a principal, but the
salesperson exceeds authority in agreement. Principal
does nothing to correct the actions, and the public is led
to believe the actions were okay. Agency? - .....ANSWER
...✔✔ Estoppel
Amount stated in a purchase contract in case the buyer
breaches is called: - .....ANSWER ...✔✔ Liquidated
In a sublease with a positive leasehold who benefits
from excess rent? - .....ANSWER ...✔✔ Sub-lessor
Property taxes are 1,525. 1st half paid by seller closes
November 2nd - .....ANSWER ...✔✔ 512.57 Debit
seller, credit buyer (518.07)
Deed of trust is created, it also needs: - .....ANSWER
...✔✔ Note
,2|Page
Consumer financial protection bureau is governing -
.....ANSWER ...✔✔ Savings & Loan Associations
Fixed rate 30 year loan is partially prepaid, has an
effect on - .....ANSWER ...✔✔ Shortening the life of
the loan
Buyers interest in a purchase contract is assigned to 3rd
party, sellers' permission - .....ANSWER ...✔✔ Never
Required
Apt. 2 units :900, 2550 - .....ANSWER ...✔✔ 2,030
90,000 1500 + 6% annum - .....ANSWER ...✔✔
427.50
Sell house for 113,000 7% VA Loan 110,000 2 ½
points termite inspection - .....ANSWER ...✔✔ 29,840
Commissioner may issue cease and desist on all but -
.....ANSWER ...✔✔ Appeal to Advisory Board
Low income loans - .....ANSWER ...✔✔ GNMA
,3|Page
Closing statement not pro-rated - .....ANSWER ...✔✔
Security deposit
What is not required on brokerage receipt -
.....ANSWER ...✔✔ brokerage name
Brokers are required to have all except: - .....ANSWER
...✔✔ Trust Account
Not appear on public report - .....ANSWER ...✔✔
Market Value
Taxes are 915 a year, seller paid 1st half on October
1, close escrow on 11/16 - .....ANSWER ...✔✔ 340
Debit Seller
Relationship of Licensee to Broker - .....ANSWER
...✔✔ General
Sell June 6th, Water Bill $86 and taxes are $778 -
.....ANSWER ...✔✔ 437 Credit Seller, 492 Debit
Buyer
, 4|Page
Life Tenant Holds - .....ANSWER ...✔✔ Fee Simple
Couplings - .....ANSWER ...✔✔ Home
Inspectors/Arizona Board of Technical Registration
When a broker moves their office the sign must be
removed - .....ANSWER ...✔✔ Immediately
Property closes on June 15, using 365 days credit to the
seller when 1200 was paid - .....ANSWER ...✔✔
657.54
When you appraise land and ad it to the depreciated
value of the improved property, what appraisal
approach is being used - .....ANSWER ...✔✔ Cost
Term used by surveyors - .....ANSWER ...✔✔
Benchmark
Right to license agents - .....ANSWER ...✔✔
legislature
