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AZ CE Shop Practice Test questions and answers. AZ CE Shop Practice Test questions and answers.AZ CE Shop Practice Test questions and answers. AZ CE Shop Practice Test questions and answers. AZ CE Shop Practice Test questions and answers.

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  • August 24, 2024
  • 43
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • az ce shop practice test questions and answers

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  • CE Shop
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AZ CE Shop Practice Test questions and
answers

Which .of .the .following .is .true .about .mortgage .brokers?

-They .don't .service .the .loan .beyond .placement

-They .originate .their .own .loans

-They've .paid .through .fees .from .originating .and .servicing .loans

-They .service .the .loan .for .it's .entire .lifecycle .- .correct .Answers .✔✔ .-
They .don't .service .the .loan .beyond .placement

Janalynne .is .a .designated .broker .setting .up .the .main .place .of .business .for .her .employing .broker. .Be
fore .officially .opening .for .business, .she'll .make .sure .that .the .__________ .is .on .display .in .the .office.

-Affiliated .brokers .license

-Articles .of .incorporation .or .similar .business .documentation

-Business .plan

-Employing .brokers .or .designated .brokers .license .- .correct .Answers .✔✔ .-
Employing .brokers .or .designated .brokers .license

George .is .an .Arizona .salesperson .representing .a .seller .client .in .a .real .estate .transaction. .His .employi
ng .broker, .Hannah, .is .preparing .a .written .disclosure .to .give .to .the .transaction .parties .regarding .who
.will .receive .compensation .from .the .transaction. .When .will .Hannah .need .to .provide .the .compensati
on .disclosure?

-Before .closing

-Before .the .final .funds .transfer

-Before .the .first .offer .is .received

-Before .the .listing .goes .on .the .MLS .- .correct .Answers .✔✔ .-Before .closing

Licensee .Kennie .Mae's .neighbor, .Buzz, .wants .to .sell .his .house .but .doesn't .want .to .sign .an .agency .a
greement. .Kennie .Mae .works .with .Buzz .to .list .and .show .the .property .and .negotiate .offers. .After .th

,e .property .sells, .Buzz .discovers .that .Kennie .Mae .didn't .present .all .offers .to .him, .and .he .sues .Kennie
.Mae. .Kennie .Mae .claims .that .because .she .didn't .have .an .agency .agreement .with .Buzz, .she .wasn't .r
equired .to .perform .all .fiduciary .duties. .What .legal .principle .applies .here?

-Agency .after .the .fact, .because .Kennie .Mae .continued .to .perform .tasks .for .Buzz .through .the .closing
.date


-
Law .of .agency, .because .Kennie .Mae .defined .her .agency .relationship .with .Buzz .through .the .tasks .sh
e .performed

-
The .doctrine .of .estoppel .keeps .Kennie .Mae .from .disavowing .the .agency .relationship .because .she .pr
ovided .agency .tasks .for .Buzz

-
The .ratification .doctrine .states .that .Kennie .Mae .ratified .her .relationship .with .Buzz .by .signing .the .clo
sing .paperwork .- .correct .Answers .✔✔ .-The .doctrine .of .estoppel .keeps .Kennie .Mae .from .disavowing
.the .agency .relationship .because .she .provided .agency .tasks .for .Buzz


In .Arizona, .when .a .public .report .is .issued .on .a .proposed .subdivision, .how .long .does .a .developer .ha
ve .to .provide .a .copy .to .all .reservation .holders? .- .correct .Answers .✔✔ .-15 .calendar .days

Which .range .of .credit .scores .represents .the .average .score .for .Americans .overall?

-580 .to .669

-670 .to .739

-740 .to .799

-800 .or .higher .- .correct .Answers .✔✔ .-670 .to .739

In .order .to .maintain .their .licenses, .employing .brokers .must .appoint .and .maintain .a(n)

-Branch .manager

-Designated .broker

-Officer .in .charge

-President .- .correct .Answers .✔✔ .-Designated .broker

If .an .Arizona .licensee .misses .the .deadline .for .the .continuing .education .requirements, .the .Arizona .re
al .estate .commissioner .can .grant .a .waiver .or .additional .time .if .the .licensee .shows .___________

-Financial .responsibility

,-Good .cause

-Proof .of .enrollment

-Reasonable .effort .- .correct .Answers .✔✔ .-Good .cause

A ._________ .is .a .tract .of .land .divided .into .lots .or .plats .and .used .for .building .purposes.

-Plat

-Site .plan

-Subdivision

-Topographic .map .- .correct .Answers .✔✔ .-Subdivision

Which .option .is .true .if .a .deed .is .not .recorded .after .closing?

-The .buyer .must .pay .a .fine .to .the .seller

-The .entire .closing .is .void

-The .property's .legal .ownership .can .be .challenged

-The .title .never .changes .hands .from .the .seller .to .the .buyer .- .correct .Answers .✔✔ .-
The .property's .legal .ownership .can .be .challenged

Hugh .is .representing .Jacqueline .in .her .purchase .of .a .new .condo. .She .wants .to .move .in .before .closi
ng, .and .in .order .to .fulfill .his .statutory .duties, .which .of .the .following .actions .would .Hugh .take?

-Recommend .Jacqueline .seek .the .advice .of .a .lawyer

-Recommend .Jacqueline .speak .with .his .designated .broker

-Recommend .that .she .wait .until .after .closing .to .keep .things .simple

-Research .the .implications .and .report .them .back .to .her .- .correct .Answers .✔✔ .-
Recommend .Jacqueline .seek .the .advice .of .a .lawyer

Kurt .bought .a .vacant .lot .in .a .development .that .was .85% .completed. .When .he .started .working .with .
the .builder .to .lay .out .where .the .house .and .driveway .would .lie, .it .was .determined .that .he .would .ne
ed .an .easement .because .his .driveway .would .spill .over .onto .the .adjacent .lot .by .a .few .feet. .What .ty
pe .of .easement .is .this?

-Easement .appurtenant

-Easement .by .necessity

-Easement .by .prescription

, -Easement .in .gross .- .correct .Answers .✔✔ .-Easement .appurtenant .(dominant)

Which .occupancy .type .is .eligible .for .a .VA .loan?

-All .occupancy .types

-Investment .property

-Owner .occupied

-Second .home .- .correct .Answers .✔✔ .-Owner .occupied

Property .management .firms .must .keep .all .clients .financial .records .for .at .least ._________ .year(s) .fro
m .the .date .each .document .was .executed.

-Four

-One

-Three

-Two .- .correct .Answers .✔✔ .-Three

Who .or .what .most .likely .establishes .a .covenant .not .to .compete?

-Developer .restrictive .covenants

-Local .building .codes

-Local .zoning .restrictions

-Purchase .or .lease .contract .- .correct .Answers .✔✔ .-Purchase .or .lease .contract

Which .of .these .situations .represents .a .unilateral .contract?

-Cain .sells .Trent .his .bike

-Maurice .promises .Shelton .
$100 .if .Shelton .will .sell .his .painting. .Shelton .agrees, .but .Maurice .doesn't .pay .Shelton

-Nathan .and .Sue .exchange .vows .at .their .wedding

-Sherry .promises .to .give .Brent .a .ride .home .from .work, .and .then .doesn't .show .up .- .correct .Answers
.✔✔ .-Sherry .promises .to .give .Brent .a .ride .home .from .work, .and .then .doesn't .show .up


Ken, .Barbie, .and .Skipper .owned .a .property .as .a .joint .tenancy. .When .Skipper .moved .out .of .state, .sh
e .sold .her .interest .to .Midge. .Two .years .later, .Ken .died. .How .is .the .interest .in .the .property .divided?
.- .correct .Answers .✔✔ .-Barbie .owns .two .thirds .and .Midge .owns .one .third

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