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Arizona Real Estate- Actual State Exam *Q&A* (100% Correct) 2025/2026 |VERIFIED| $9.57
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Arizona Real Estate- Actual State Exam *Q&A* (100% Correct) 2025/2026 |VERIFIED|

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Arizona Real Estate- Actual State Exam *Q&A* (100% Correct) 2025/2026 |VERIFIED| A scenario in which the person selling the property becomes a tenant after the sale is called: a. sublease b. assignment c. reversionary interest d. sale and leaseback d. sale and leasebac...

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  • December 8, 2024
  • 25
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • arizona real estate actual state exam qa 100

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  • Real Estate
  • Real Estate

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Arizona Real Estate- Actual State Exam
*Q&A* (100% Correct) 2025/2026
|VERIFIED|
A scenario in which the person selling the property becomes a tenant after the sale is called:

a. sublease

b. assignment

c. reversionary interest

d. sale and leaseback d. sale and leaseback



Clara rents a property and installs custom shelving, refrigeration units, and other fixtures for her
business. In this case:

a. Clara can remove the fixtures before the lease ends. a. Clara can remove the fixtures before the
lease ends.

b. Clara must leave the fixtures behind for the landlord.

c. Clara can take the fixtures at any time, even after the lease expires.

d. The landlord is required to reimburse Clara for the items.



The primary purpose of a property management agreement is to:

a. outline the responsibilities and authority of the manager. a. outline the responsibilities and
authority of the manager.

b. allow the manager to earn extra income through external gratuities.

c. hire the manager to sell the property.

d. authorize the manager to purchase adjacent properties.



The most compensation that can be paid from the Real Estate Recovery Fund for a single licensee is:

a. $50,000

b. $75,000

c. $90,000 c. $90,000

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,d. $100,000



By June 30 of each year, the Real Estate Recovery Fund must maintain a minimum balance of:

a. $500,000

b. $600,000 b. $600,000

c. $750,000

d. $1,000,000



The individual responsible for appointing the real estate Commissioner is the:

a. president

b. governor b. governor

c. legislature

d. real estate board



The primary goal of real estate licensing laws is to:

a. raise revenue

b. provide jobs

c. protect the public c. protect the public

d. promote economic growth



A real estate license would be required in the following situation:

a. a developer selling fewer than ten homes

b. a trustee managing a property sale under court order

c. an attorney in fact selling property on behalf of a principal

d. an attorney at law listing a property for sale d. an attorney at law listing a property for sale



If a broker’s license is revoked, their agents should:

a. finalize all pending transactions immediately.


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, b. transfer their licenses to another broker. b. transfer their licenses to another broker.

c. wait to see if the broker reinstates their license.

d. continue operating as usual since it wasn’t their fault.



If a broker charges $35 for preparing documents for a transaction, which is correct?

a. Charging for this service is not permitted. a. Charging for this service is not permitted.

b. A fee may be charged if agreed upon by all parties.

c. The fee is valid if classified as an escrow service fee.

d. A fee is acceptable only if pre-negotiated.



Funds from the buyer held in the broker's trust account as part of an earnest money deposit legally
belong to:

a. the seller

b. the buyer b. the buyer

c. the broker

d. the escrow company



Authority for licensed real estate brokers to draft transaction-related documents is derived from:

a. the Arizona Constitution a. the Arizona Constitution

b. the federal government

c. the state legislature

d. the real estate commission



The following is NOT a prerequisite for a real estate salesperson license in Arizona:

a. completing 90 hours of education

b. passing the required examination

c. meeting the minimum age requirement

d. residing in Arizona for 90 consecutive days d. residing in Arizona for 90 consecutive days



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