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ASREB Basic Real Estate Test 2020 Questions With 100- Correct Answers
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ASREB Basic Real Estate Test 2020 Questions With 100- Correct Answers
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10/7/24, 1:57 PMASREB Basic Real Estate Test 2020
Jeremiah
Terms in this set (300)
A 3.45-acre lot sells for 50 cents per $75,141
square foot. What is the selling price?
A blind ad refers to an ad that gives no indication that the property is listed with a broker
A borrower is required to put 10% down for Equity
the purchase of a property. The 10% down
would be considered
A broker, acting as a property manager, General
would be what type of agent?
A buyer pays 20% down and obtains a real acceleration
estate mortgage. The buyer makes no
further payments. What clause would the
lender now exercise?
When a new home is still under increase the full cash value
construction, the County Assessor may
A contact has been signed, but title has not executory
passed. The contract is
a handicapped person is leasing a house The lessor can require the lessee to reasonable restore the property at the end of
that requires modification. Which of the the lease.
following is TRUE about the modification?
A holdover tenant would have a(n) estate at sufferance
Which of these property classifications is Class 2
used for vacant land?
A house costs $100,000. The buyer is $2,720
making a down payment of $32,000 and
getting a $68,000 loan. If there are 4
points, how much money will be paid out
ASREB Basic Real Estate Test 2020
A lender refuses to loan or limits loans in a Redlining
certain minority neighborhood. This action
is called.
A lessee puts in a bookcase for commercial a trade fixture
use; at the end of the lease the bookcase is
removed. The bookcase would be
considered
To finance the infrastructure for a Community Facilities Districts.
subdivision development, Arizona law
allows the formation of
A listing broker receives several offers at present all the offers
the same time. The broker should
A loan estimate must be given to a of loan application
of the closing
borrower for the
withing points?
three business days
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A party lives on a property without adverse possession
permission of the owner. After the legally
required time period, if the occupant
receives title to the property it was done so
through
In what situation would a short sale be The loan property is greater than the property value
likely?
A real estate mortgage would be a(n) voluntary lien
A real estate sale was closed on March 21. $274.60 debit
The assessed value of the property is
$72,500 and the tax rate is $1.75 per $100 of
assessed value. What is the proper entry on
the seller's settlement statement if the
buyer owns day of closing and we are
using a calendar year?
A right of way over Parcel A to Parcel B dominant tenement
identifies Parcel B as the
A company that acts as an intermediary appraisal management company
between a lender and an appraiser is a(n)
A seller lists a property with a brokerage, exclusive agency
sells it himself, and does not have to pay a
commission. What kind of listing did the
seller sign?
A seller needs to pay an estimated $2,000 $225,807
in closing costs, $150,000 on his current
mortgage, and wants $58,000 in cash for a
down payment on another house. His
listing agreement obligates him to pay 7%
commission to the brokerage. What is the
minimum selling price he can accept?
A seller wants to list a four plex and live in Refuse the listing; it violates fair housing.
one unit, but doesn't want any children in
ASREB Basic Real Estate Test 2020
A valid contract must have offer and acceptance
If the percentage of renters in a community 20%
exceeds 50%, many lenders require that the
homeowners' association reserves be what
percentage of HOA budgeted income?
After a deed of trust foreclosure sale, A trustee's deed is given to the new owner.
which of the following is TRUE?
After a mortgage foreclosure, if the sale deficiency judgment.
amount was insufficient to cover the debt,
the lender may ask for a(n)
All of the following would be considered annual crops
appurtenant in a real estate transaction
EXCEPT
the units. What should the agent do?
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