ASREB State Test B-1; Questions and Answers 100% Verified
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Course
ASREB
Institution
ASREB
ASREB State Test B-1; Questions and Answers 100%
Verified
Before the commissioner issues a public report on subdivided land, the subdivider may not:
Take lot reservations
Enter into a binding contract
Advertise the lots for sale
Begin lot improvements Answer-Enter into a binding contract
ASREB State Test B-1; Questions and Answers 100%
Verified
Before the commissioner issues a public report on subdivided land, the subdivider may not:
Take lot reservations
Enter into a binding contract
Advertise the lots for sale
Begin lot improvements Answer-Enter into a binding contract
All of the following can be used in a developer's public report advertisement EXCEPT:
Specific prices
A statement which says, "The public report is an endorsement of the project"
Names of the owners and past history
Future plans of the general area Answer-A statement which says, "The public report is an
endorsement of the project"
How long are the real estate exam tests scores valid for?
One year
Two years
Three years
Four years Answer-One year
How long does a broker doing sales need to keep records?
2 years
, ASREB State Test B-1; Questions and Answers 100%
Verified
3 years
4 years
5 years Answer-5 years
The commissioner may deny a public report for all of the following reasons EXCEPT:
The property is without ingress or egress
The owners have previously declared bankruptcy
The owner can't produce perfect title
The owner can't produce marketable title Answer-The owner can't produce perfect title
All listings must be in writing to be enforceable according to:
Arizona Constitution Article XXVI
Law of Agency
Arizona Revised Statutes
RESPA Answer-Arizona Revised Statutes
The commissioner has the power to do all of the following EXCEPT:
Prescribe rules and regulations
Investigate signed written complaints
Examine office records
Create real estate statutes Answer-Create real estate statutes
, ASREB State Test B-1; Questions and Answers 100%
Verified
After passing the real estate exam, a licensee must activate his license within:
Six months of the examination date
Six months of notification of passing the test
One year of the examination date
Three years of the examination date Answer-One year of the examination date
Unless otherwise specified, a broker is required to deposit earnest monies in escrow or in a
trust account:
Upon the buyer's acceptance
Upon seller's acceptance
Promptly by the close of the next business day
Within 72 hours of receipt Answer-Promptly by the close of the next business day
The commissioner will deny a public report on a subdivision because of the subdivider's inability
to:
Provide buyers with water rights
Provide building permits
Deliver clear title
Provide floor plans Answer-Deliver clear title
Who may accept a commission from an out-of-state broker?
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