BUNDLE::-ASREB EXAMS WITH COMPLETE SOLUTIONS

ASREB National Test A-2 Questions and Answers 100% Verified The highest form of an estate would be: Fee simple Defeasible fee Fee conditional Estate in remainder Answer-Fee Simple A tenant is living without permission on the property after the lease expires. What type of estate would the te...

ASREB National Test A-5 Questions and Answers 100% Verified A property is sold but the legal title remains in the seller's name. What type of instrument was used to complete the sale? Mortgage Deed of Trust Agreement for sale Option Answer-Agreement for sale Seller does not give title to t...

ASREB State Test A-1 Questions and Answers 100% Verified Arizona property taxes are based on: Pro rata share Assessed value Front Footage Transfer value Answer-Assessed Value The tax rate applied to owner occupied residential property is: 10% 12% 14% 16% Answer-10%

ASREB Ch 1; Questions and Answers 100% Verified Attachments are generally considered_____and can be either____or____ Answer-real property, natural, or man made What are five test to determine what is or is not a fixture? Answer-M.A.R.I.A. Method of Attachment, Agreement, Relationship, Intent, ...

ASREB ch 1; Questions and Answers 100% Verified Property rights that go with ownership of real property are referred to as the... Answerbundle of rights Surface of the earth, below to the center, with all natural things is... Answer-land Personal property is conveyed with a document called a... ...

ASREB Test Questions and Answers 100% Verified A borrower is required to put 10% down for the purchase of a property. The 10% down would be considered... Answer-Equity A broker, acting as a property manager, would be considered what type of agent? Answer-General A contract has been signed, b...

ASREB State Test B-2 Questions and Answers 100% Verified As of June 30th of any year, the real estate recovery fund must maintain a balance of to avoid additional fees to licensees. $200,000 $250,000 $300,000 $600,000 Answer-$600,000

ASREB National Test A-1 Questions and Answers 100% Verified The sale of personal property would include a: Answer-Bill of Sale What governmental right requires compensation to private property owners? AnswerEminent Domain If property is obtained by the state after a person dies, this is called:...

ASREB National Test A-3 Questions and Answers 100% Verified When a person receives real estate through a will, this is called: Demise Bequest Devise Legacy Answer-Devise A quit claim deed would do which of the following: Remove a cloud on a title Deny the spouse an interest Verify the tax ...

B-1 ASREB; Questions and Answers 100% Verified A subdivider employés hostesses to show houses. The hostesses explain the features of the homes and gave the prices and terms. In this scenario: a. Only the sales broker needs to be licensed b. Hostesses are employees only and need not be licensed...

ASREB Practice exam; Questions and Answers 100% Verified Formula for finding property value when you have the net operating income and cap rate Answer-Current market value(CMV)= NOI/ cap rate Example: CMV=$5.480/ .08(8%) =$68,500 When would IRS form 1099S be used? Answer-Report sales price W...

ASREB Practice Exam, Sessions 1-18, Study Guide; Questions and Answers 100% Verified ASREB AnswerA 3.45-acre lot sells for 50 cents per square foot. What is the selling price? A) $37,570 B) $75,141 C) $76,230 D) $78,712 Answer-B 3.45 acres x 43,560 = 150,282 SF 150,282 SF x $0.50 = $75,14...

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