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Aceable Real Estate Arizona Questions And Answers With Verified Solutions Already Passed!!!
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Aceable Real Estate Arizona Questions And Answers With Verified Solutions Already Passed!!!
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Aceable Real Estate Arizona QuestionsAnd Answers With Verified Solutions
Already Passed!!!
Mindy will likely be required to purchase mortgage insurance if her conventional
loan has a loan-to-value ratio of: - ANSWER✔✔ 81%
A prospective homebuyer asks their agent to show them houses only in "good"
neighborhoods. When asked to explain, the buyer says, "You know... no sketchy
people." What is the BEST option for the agent to say? - ANSWER✔✔ "I am
happy to show you homes in your price range that fit your other parameters, but
your preference for a 'type' of person is starting to concern me."
A Christian organization owns a fourplex. It wants to rent to only Christian tenants.
Under the federal Fair Housing Act, is this legal? - ANSWER✔✔ Yes. Religious
organizations which rent to tenants for residential purposes are exempt from the
Fair Housing Act.
What document directly addresses the rights of real estate licensees in Arizona? -
ANSWER✔✔ Article XXVI of the Arizona State Constitution
A lender's concern about a loan-to-value ratio that is higher than their guidelines
can potentially be addressed by the presence of all of these EXCEPT? -
ANSWER✔✔ homeowners insurance
The brokerage where Salesperson Ester works practices dual agency, but she has
been authorized to practice only single agency.
What is the most likely explanation for this? - ANSWER✔✔ Her broker has not
authorized her to practice dual agency.
,Which of these is least likely to be dictated by building code? - ANSWER✔✔ lot
density limits
Gus never received the public report from the developer of the subdivided land that
Gus purchased. One year after signing the contract, Gus decides he wants to back
out of the deal. Can he? - ANSWER✔✔ Yes, Gus is within the three-year time
frame.
The Recovery Fund's liability has a maximum limit of how much per transaction? -
ANSWER✔✔ $30,000
Subsurface rights commonly govern: - ANSWER✔✔ the ownership of mineral
deposits
What is the purpose of a due diligence period? - ANSWER✔✔ for the buyer to be
100% sure they want to go through with the purchase
With respect to the appraisal process, what does the term "general data" refer to? -
ANSWER✔✔ information gathered about a property's surrounding area
Jeremy took out a 5/1 ARM. What does the 5 mean? - ANSWER✔✔ the interest
rate is fixed for 5 years
The VA guarantees the first: - ANSWER✔✔ 25% of the loan
What is a cease and desist order? - ANSWER✔✔ an order issued by the ADRE to
stop a certain action that violates the license law
, Ravi is buying a property in Arizona. What is the best evidence of marketable title
he can get for the property? - ANSWER✔✔ title insurance
Which of these legal life estates is used in Arizona? - ANSWER✔✔ Homestead
Which of the following is an example of agency termination due to acts of the
parties? - ANSWER✔✔ Seller Orville revokes Broker Vickie's authority to
represent him in the sale of his home.
Which of the following would NOT be included in a property management
agreement? - ANSWER✔✔ a statement identifying the manager's creditors
Alison represents the buyer per their employment agreement. However, she
receives her commission from the seller. Who is Alison in an agency relationship
with? - ANSWER✔✔ the buyer only
Broker Niamh told prospective buyers that the seller's property was in a flood
plain.
This is an example of: - ANSWER✔✔ disclosure of material facts
What is a group of investors that get together and combine resources to make
investments they wouldn't be able to make on their own? - ANSWER✔✔
Syndicate
What law requires a buyer buying a property from a non-U.S. citizen to withhold a
portion of the purchase price to ensure the seller pays the taxes they owe? -
ANSWER✔✔ FIRPTA
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