AZ Real Estate Practice Exam| 100 Questions| Correct Answers| Verified
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Course
ARIZONA Real Estate
Institution
ARIZONA Real Estate
A 3.45-acre What is the selling price? lot sells for so cents per square foot.
A. 537,570
B. $75,141
C. 576,230
D. $78,712 - ANSWER B
A blind ad refers to an ad that:
A. provides no price.
B. provides no address.
C. gives no with a broker. indication that the property is listed
...
AZ Real Estate Practice Exam| 100 Questions| Correct Answers| Verified
A 3.45-acre What is the selling price? lot sells for so cents per square foot. A. 537,570 B. $75,141 C. 576,230 D. $78,712 - ANSWER B
A blind ad refers to an ad that:
A. provides no price. B. provides no address. C. gives no with a broker. indication that the property is listed D. gives no been sold or not indication that the property has - ANSWER C
purchase of a property. A borrower is required to put 10% down The 10% down for the considered would be A equity. B. boot. C. tax shelter. D. leverage. - ANSWER A
A broker, acting as a property manager, would be what type of agent? A. special B. general C. implied D. ostensible - ANSWER B
A buyer pays 20% down and obtains a real payments. What clause estate mortgage. The buyer makes no further would the lender now exercise? A. alienation B. habendum C. C. novation D. acceleration - ANSWER D
When a new home is still under construction, the County Assessor may value ratio. A. increase the assessed B. increase the full cash value. C. decrease the tax rate. D. appeal the limited property value. - ANSWER B
A contact has been signed, passed. The contract is but title has not ves A. executed. B. executory. C recorded. D. estopped. - ANSWER B
A handicapped requires modification. person is leasing Which of the modifications? a house thet TRUE about the followinn i A The lessor my forbid handicapped modifications. B. The lessor can reasonably require the lessee to restore the property at
the end ed the lease. C. The lessor P. The lessor can must pay for the modifications increase the rent due to the risk of the handicapped person. - ANSWER B
A holdover tenant would have a(n) A. estate at sufferance. B. estate at will. C freehold estate. D. remainder estate. - ANSWER A Which of these property classifications is used for vacant land? A. Class 1 B. Class 2 C.
Class 3 D. Class 4 - ANSWER B
A house costs down payment of $32,000 loan. If there $100,000. The buyer is making a
and getting a $68,000 are 4 points, how much money will be paid out of the closing for the points? A. $400 B. $1,280 C. $2,720 D. $4,000 - ANSWER C
A lender refuses to loan certain minority neighborhood. or limits loans in a This action is called A steering. B. blockbusting. C. redlining D. territory allocation. - ANSWER C
A lessee puts in a bookcase for commercial use: at the end of the lease the The bookcase would be considered bookcase is removed. A. real property. B. a trade fixture. C. appurtenant. D. chattel real. - ANSWER B
To finance the infrastructure for a subdivision development, Arizona law allows the formation of A. Homeowners' Associations. B. Community Facilities Districts. C. Planned Communities. D. Planned Unit Developments. - ANSWER B
A listing broker receives several offers at the same time. The broker should A. present only the best. B. present all the offers. C. present the three best. D. wait for more offers before presenting to the seller. - ANSWER B
A Loan Estimate must be given to a borrower within three business days A. of loan application. B. after the buyer's request. C. after closing. D. prior to closing. - ANSWER A
A party lives on a property without permission. of the owner. After the legally required time period, if the occupant receives title to the property it was done so through A. easement by prescription. B. adverse possession. C. escheat. D. eminent domain. - ANSWER B
In what situation would a short sale be likely? A. The loan balance is greater than the property value. B. The loan balance is less than the property value. C. The loan has a non-recourse provision. D. The total of all liens is less than the property value. - ANSWER A
A real estate mortgage would be aln) A. involuntary lien. B. general lien. C voluntary lien. D. statutory lien. - ANSWER C
A real estate sale was closed on March 21. The assessed value of the property is $72,500 and the tax rate is $1.75 per $100 of assessed value, What is the proper entry on the seller's settlement statement if the buyer owns day of closing and we are using a calendar year? A. $278.08 debit B. $278.08 credit C $274.60 debit D. $274.60 credit - ANSWER C
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