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ASREB SCHOOL EXAM Questions With 100- Correct Answers
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10/7/24, 1:56 PMASREB SCHOOL EXAM
Jeremiah
Terms in this set (83)
When a tenant moves out of a rental unit Constructive eviction
due to an electrical fire that was not their
fault this would be called?
A property manager is considered what General agent
type of agent?
If a dwelling is damaged or destroyed by 14
fire how many days must the tenant give
the landlord to terminate the rental
agreement?
A real estate broker is normally what type Special
of agent?
A broker's duty to a third party would be: Honesty
An example of involuntary alienation is Sheriff's deed
where title to real estate passes by:
An option to purchase is what kind of Unilateral
contract?
Who pays the discount points on a VA Agreement of parties
loan?
A defeasance clause would MOST likely be A mortgage or trust deed
found in:
What type of property would have the Shopping Center
highest tax rate?
What is the priority of property tax liens? Always in first position
How many townships are contained in a 16
government survey "check"?
The buyer wants and 11% return. The 127,272
property rents for $1500 per month, and
ASREB SCHOOL EXAM
annual expenses are $4000. What is the
price the buyer is willing to pay?
1/5
, 10/7/24, 1:56 PM
A rental property has a 6 rental units that 13.8
rent for $700 each per month. Similar
property in the area is selling for $700,000.
What would be the gross rent multiplier for
this type of property?
The discount points are 3%, which $112,500
represent $2,700. The buyer down payment
is 20%. What is the purchase price of the
property?
Payments on a "Deed of Trust" are due to Beneficiary
the:
You borrow $90,000 at 9% interest for 20 $126,000
years. Monthly payment is $900, principal
and interest. What is the total amount of
interest paid after 20 years?
What determines the North and South Baselines
boundaries in a government survey?
To pledge something as collateral in a Hypothecation
mortgage is best defined as:
The N 1/2 of the NW 1/4 of the SW 1/4 of 20 acres
Section 32 contains how many acres?
The S 1/2 of the E 1/2 of the SE 1/4 of 60 acres
Section 4, and the W 1/2 of the SW 1/4 of
the NW 1/4 of Section 5 contains how many
acres?
When a broker misappropriates funds, this Conversion
is called:
A septic tank inspection report is valid for... 6 months
Which would be considered illegal A licensed associate broker managing property directly for an investor
property management activity?
Jim earns $75,000 a year. If he receives 75% 119,047
of the 7% commissions paid to his firm on
his sales, what is his monthly dollar volume
of sales this transaction contribute to the
company?
Property taxes are $1,525. The first half was $512.57 debit to seller, credit to buyer
paid by the seller. A sale closes Nov. 2nd.
What is the debit and credit to buyer and
seller on the settlement sheet?
A lot is originally purchased for $10,500. It $2,940
is sold at a 20% loss and then re-sold with a
10% commission. What was the net loss on
the property?
What is legal exaggeration called? Puffing
Which of the following requires an AZ real Selling timeshares
estate license?
ASREB SCHOOL EXAM
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