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ASREB Test Questions With 100- Correct Answers..
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ASREB Test Questions With 100- Correct Answers..
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10/7/24, 1:54 PMASREB Test
Jeremiah
Terms in this set (319)
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 considered what type of agent?
A contract has been signed, but title has Executory
not yet been passed. The contract is...
A house cost $100,000. The buyer is making $2720
a down payment of 32,000 and getting a
$68,000 loan. If there are 4 points, how
much money will be paid out of the closing
for points?
In what situation would a short sale be The loan balance is greater than the property value.
likely?
The real estate mortgage would be a(n)... Voluntary Lien
A company that acts as an intermediacy Appraisal Management Company
between a lender and an appraiser is a(n)...
A seller list a property with a brokerage, Exclusive Agency
sell it himself, and does not have to pay a
commission. What kind of listing did the
seller sign?
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
the units. What should the agent do?
If the percentage of renters in a community 20%
exceeds 50%, many lenders require that the
homeowners' association reserves be what
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)...
An option once exercised is considered... Unilateral executed
At what point does recordation take place? When a docket and page number are assigned
What is required at the time an Affidavit of The titles to the mobile home must be surrendered
Affixture is recorded?
A broker has what duty to a third party? full disclosure of all material facts
How can a buyer be assured of getting his Place a contingency clause in the contract
earnest money back if his loan is not
approved?
percentage of HOA budgeted income?
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, 10/7/24, 1:54 PM
A legal description reads as follows: "The 240 acres
NW 1/4 of Section 2 and the W 1/2 of the
SW 1/4 of section 35." How man acres is
this?
If a tenant abandons a residential Sell the tenant's personal property after holding it for 10 days
apartment, the landlord must do all of the
following EXCEPT...
How many townships are in a 24-mile 16
square?
If there are material changes from an amended Public Report
original Public Report, the Commissioner
may required the subdivider to create a(n)...
If cap rates in an area are going up, how Value goes down
does this influence value?
In Arizona, property owned before Community Property
marriage is sole and separate. Property
acquired after marriage would be
considered...
The right of an Arizona real estate licensee The Arizona Constitution
to prepare certain legal documents and
forms comes from...
What clarifies ADRE's position on statues or Substantive Policy Statements
rules?
The concept that information given to a Imputed Notice
client's agent has been given to the client is
known as
On a settlement statement, rent paid in credit to the buyer, debit to the seller
advance would be a...
If the buyer of a property wants to remain Or Nominee
anonymous, what terms should be used for
that buyer's name in the purchase
contract?
Which of the following listings would NOT pocket listing
The main purpose of the Federal Housing insure loans
Administration is to...
The relationship between a broker and their General
salesperson is what type of agency?
Which of the following is determined by Square footage under roof
measuring the exterior dimensions of a
home including garages, patios and
entryways?
When a property that has a well is sold, Transfer of Well Rights Form
what must be sent to ADWR?
Under what condition would a listing The salesperson dies
agreement NOT terminate?
What document is recorded with the deed? affidavit of value
be entered into a multiple listing service?
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