Exam (elaborations)
AZ REAL ESTATE TEST QUESTIONS AND ANSWERS
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AZ REAL ESTATE TEST QUESTIONS AND ANSWERS
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AZ REAL ESTATE TEST QUESTIONS AND ANSWERSWhat is not a specific lien? - Answers -judgment Lien
What is not a specific lien? - Answers -judgment Lien
What is not an encumbrance on real property? - Answers -homestead right
What is not an encumbrance on real property? - Answers -homestead right
the physical characteristics of land include: - Answers -indestructibility
the physical characteristics of land include: - Answers -indestructibility
what restrictive covenants is most likely to be enforceable? - Answers -prohibits use for
anything other than single-family dwelling.
what restrictive covenants is most likely to be enforceable? - Answers -prohibits use for
anything other than single-family dwelling.
What would a landlocked property owner most likely ask the court for? - Answers -
easement by necessity
What would a landlocked property owner most likely ask the court for? - Answers -
easement by necessity
restrictive covenants are enforced by - Answers -legal action by other owners
restrictive covenants are enforced by - Answers -legal action by other owners
Mary is interested in a parcel of real estate owned by Kathy. Mary has a title report that
shows the property is encumbered by several liens. The lien with the highest priority is
the lien: - Answers -first recorded
Mary is interested in a parcel of real estate owned by Kathy. Mary has a title report that
shows the property is encumbered by several liens. The lien with the highest priority is
the lien: - Answers -first recorded
What is not a characteristic of a fee simple estate? - Answers -free of encumbrances
What is not a characteristic of a fee simple estate? - Answers -free of encumbrances
A valid deed does not require a: - Answers -signature of the grantee
A valid deed does not require a: - Answers -signature of the grantee
,"to have and to hold,"most likely would be included in a: - Answers -Habendum clause
"to have and to hold,"most likely would be included in a: - Answers -Habendum clause
A seller who will only defer the title he is giving against others who claim an interest
through or under him would give a: - Answers -special warranty deed
A seller who will only defer the title he is giving against others who claim an interest
through or under him would give a: - Answers -special warranty deed
title is transferred by deed at the time of: - Answers -delivery and acceptance
title is transferred by deed at the time of: - Answers -delivery and acceptance
Which of the following actions would not prevent a claim of adverse possession? -
Answers -ordering the adverse user to desist
Which of the following actions would not prevent a claim of adverse possession? -
Answers -ordering the adverse user to desist
Standard coverage in a title insurance policy does not insure against: - Answers -
questions of survey
Standard coverage in a title insurance policy does not insure against: - Answers -
questions of survey
Razing a hotel to build an office building is most likely an example of the principles of: -
Answers -Highest and best use
Razing a hotel to build an office building is most likely an example of the principles of: -
Answers -Highest and best use
the appraisal on a quality single-family residence would be least influenced by: -
Answers -projected rental income
the appraisal on a quality single-family residence would be least influenced by: -
Answers -projected rental income
What is the function of a real estate appraiser? - Answers -to estimate market value
What is the function of a real estate appraiser? - Answers -to estimate market value
A loss in value because of lesser-value homes being built in the area would relate to the
principle of: - Answers -regression
,An owner gave an exclusive listing to broker Joe and open listing to broker Mary. Mary
sold the property and was paid a full commission. What is the status of the commission.
- Answers -Joe gets a full commission.
In order to collect a commission under an exclusive right to sell listing, it is not
necessary for a broker to prove: - Answers -the broker was the procuring cause
In order to collect a commission under an exclusive right to sell listing, it is not
necessary for a broker to prove: - Answers -the broker was the procuring cause
A buyer gives a post-dated check with an offer. The broker. The broker should: -
Answers -inform the seller as to the form of the deposit
A buyer gives a post-dated check with an offer. The broker. The broker should: -
Answers -inform the seller as to the form of the deposit
A broker's authority includes: - Answers -only that authority granted or implied
A broker's authority includes: - Answers -only that authority granted or implied
an agency relationship can be created by? - Answers -the action of a salesperson
an agency relationship can be created by? - Answers -the action of a salesperson
Dual agency is best described as: - Answers -representing buyers and sellers
Dual agency is best described as: - Answers -representing buyers and sellers
under what condition would a listing not terminate? - Answers -Salesperson dies
under what condition would a listing not terminate? - Answers -Salesperson dies
A salesperson was presenting the buyer's offer to the seller and at the same time teh
buyer calls the salesperson to cancel his offer. What is the status of the buyer's offer? -
Answers -Offer is void
A salesperson was presenting the buyer's offer to the seller and at the same time teh
buyer calls the salesperson to cancel his offer. What is the status of the buyer's offer? -
Answers -Offer is void
How can a buyer best be assured of getting his earnest money back if his loan is not
approved? - Answers -place a contingency clause in the contract
How can a buyer best be assured of getting his earnest money back if his loan is not
approved? - Answers -place a contingency clause in the contract
, a voidable contract is: - Answers -valid until voided
a voidable contract is: - Answers -valid until voided
A written agreement whereby the seller agreed to convey title to a house for $80,000
and the buyer agreed to purchase the house for $80,000 with the sale to be completed
within 30 days is: - Answers -an express bilateral executory contract
A written agreement whereby the seller agreed to convey title to a house for $80,000
and the buyer agreed to purchase the house for $80,000 with the sale to be completed
within 30 days is: - Answers -an express bilateral executory contract
Failure to meet the requirement set forth in a contract is a: - Answers -breach
Failure to meet the requirement set forth in a contract is a: - Answers -breach
liquidation damages would refer to: - Answers -forfeiture of a deposit
liquidation damages would refer to: - Answers -forfeiture of a deposit
A contract could be best described as an - Answers -offer and acceptance between
parties to do or not do some legal act
A contract could be best described as an - Answers -offer and acceptance between
parties to do or not do some legal act
a contract was ambiguous in that numbers written as words differed from the numerals.
Which takes precedence? - Answers -words take precedence over numerals
a contract was ambiguous in that numbers written as words differed from the numerals.
Which takes precedence? - Answers -words take precedence over numerals
Smith enters into a binding contract to buy lot 3 in subdivision x from brown. Before
closing, brown receives a higher offer for the lot and refuses to convey it, offering smith
instead an adjacent similar lot. What can happen now? - Answers -Smith can sue for
specific performance under the contract and force brown to convey lot 3.
Smith enters into a binding contract to buy lot 3 in subdivision x from brown. Before
closing, brown receives a higher offer for the lot and refuses to convey it, offering smith
instead an adjacent similar lot. What can happen now? - Answers -Smith can sue for
specific performance under the contract and force brown to convey lot 3.
A property is listed for sale at $90,000. A comparative market analysis shows that its
market value is about $75,000. The wiring and plumbing are substandard and the lot,
supposedly 150 feet deep, has not been surveyed. What representation could a listing
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