ASREB (Arizona School of Real Estate and Business)
Assessment Exam Questions and verified and correct
Marking Scheme, Newest Guaranteed 2025/2026
When does a broker need to notify the ADRE of a change of mailing address? - correct
answer Within 10 days
If a listing expires while the owner is out of town, what should the listing agent do in
relation to the for sale sign? - correct answer Remove the sign and wait until the owner
returns to sign an extension agreement
A month-to-month lease requires the tenant to pay the rent on the first of each month.
On March 15th the landlord notifies the tenant that the lease will be terminated. On
which date will the tenant need to vacate? - correct answer April 30?
How far from the principal meridian is Township 5 North, Range 3 West, G&SRN&M? -
correct answer 12-18 miles?
The primary function of FNMA is to: - correct answer Buy loans at a discount from
lenders
A residential rental property is damaged by wind which makes the property
uninhabitable. The lease is terminated: - correct answer Constructively by the tenant
providing proper written notice to the landlord
All of the following must be included in an Affidavit of Value EXCEPT: - correct answer
Contingencies of the sale
In Arizona, state enviromental standards are enforced by: - correct answer Arizona
Department of Environmental Quality
A buyer is purchasing a home. Twelve days after the loan application is made, the
lender discovers that the buyer has unpaid student loans, and the loan is denied. If the
, buyer is trying to get a loan from another lender, the buyer's agent: - correct answer
Must notify the seller's agent that the buyer may not qualify
If the seller carries back a purchase money trust deed, the seller is the: - correct
answer Trustee?
E has a 174,240 square foot parcel that she intends to sell for $1500 per acre. How
much would E receive if she sold 2/5 of the parcel? - correct answer $2400
Which of the following is NOT part of an Affidavit of Disclosure? - correct answer
Appraisal
A federal law that requires that the borrower MUST be informed of the true cost of
obtaining credit is the: - correct answer Truth in Lending Act
When advertising via a web page, which of the following is true? - correct answer The
broker's name must appear prominently on every page, without the viewer having to
scroll down to see it.
In order to comply with Arizona Statutory requirements, all the following must be
contained in an employment agreement EXCEPT: - correct answer Commission splits
Which of the following acts prevents the lender from holding excess money in an
impound account? - correct answer RESPA
A residential leasing company hires an agent who has been issued a provisional license
by ADRE to manage their trust account. One month later, the broker notices that money
is missing from the trust account, and they immediately replace the money and fire the
licensee. What else must the broker do? - correct answer Inform the ADRE of the
problem
A listing broker offers compensastion to a cooperating buyer's broker. When the buyer's
broker presents an offer, the listing broker states that the buyer's broker's commission
Assessment Exam Questions and verified and correct
Marking Scheme, Newest Guaranteed 2025/2026
When does a broker need to notify the ADRE of a change of mailing address? - correct
answer Within 10 days
If a listing expires while the owner is out of town, what should the listing agent do in
relation to the for sale sign? - correct answer Remove the sign and wait until the owner
returns to sign an extension agreement
A month-to-month lease requires the tenant to pay the rent on the first of each month.
On March 15th the landlord notifies the tenant that the lease will be terminated. On
which date will the tenant need to vacate? - correct answer April 30?
How far from the principal meridian is Township 5 North, Range 3 West, G&SRN&M? -
correct answer 12-18 miles?
The primary function of FNMA is to: - correct answer Buy loans at a discount from
lenders
A residential rental property is damaged by wind which makes the property
uninhabitable. The lease is terminated: - correct answer Constructively by the tenant
providing proper written notice to the landlord
All of the following must be included in an Affidavit of Value EXCEPT: - correct answer
Contingencies of the sale
In Arizona, state enviromental standards are enforced by: - correct answer Arizona
Department of Environmental Quality
A buyer is purchasing a home. Twelve days after the loan application is made, the
lender discovers that the buyer has unpaid student loans, and the loan is denied. If the
, buyer is trying to get a loan from another lender, the buyer's agent: - correct answer
Must notify the seller's agent that the buyer may not qualify
If the seller carries back a purchase money trust deed, the seller is the: - correct
answer Trustee?
E has a 174,240 square foot parcel that she intends to sell for $1500 per acre. How
much would E receive if she sold 2/5 of the parcel? - correct answer $2400
Which of the following is NOT part of an Affidavit of Disclosure? - correct answer
Appraisal
A federal law that requires that the borrower MUST be informed of the true cost of
obtaining credit is the: - correct answer Truth in Lending Act
When advertising via a web page, which of the following is true? - correct answer The
broker's name must appear prominently on every page, without the viewer having to
scroll down to see it.
In order to comply with Arizona Statutory requirements, all the following must be
contained in an employment agreement EXCEPT: - correct answer Commission splits
Which of the following acts prevents the lender from holding excess money in an
impound account? - correct answer RESPA
A residential leasing company hires an agent who has been issued a provisional license
by ADRE to manage their trust account. One month later, the broker notices that money
is missing from the trust account, and they immediately replace the money and fire the
licensee. What else must the broker do? - correct answer Inform the ADRE of the
problem
A listing broker offers compensastion to a cooperating buyer's broker. When the buyer's
broker presents an offer, the listing broker states that the buyer's broker's commission
