100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Arizona Real Estate Practice Questions With Verified Answers $11.49
Add to cart
Quickly navigate to
Preview
  2.  
  3. Arizona Real Estate
  4.  
  5. Arizona Real Estate

Exam (elaborations)

Arizona Real Estate Practice Questions With Verified Answers
 0 purchase
  • Course
  • Arizona Real Estate
  • Institution
  • Arizona Real Estate

Arizona Real Estate Practice Questions With Verified Answers Within how many days after property transfer shall a buyer submit a completed transfer form and file with ADEQ - Answers15 days An example of involuntary alienation is where title to real estate passes by: - AnswersSheriff's deed Wh...

[Show more]

Preview 4 out of 41  pages

Document information

  • December 20, 2024
  • 41
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • arizona real estate practice questions with verifi

Written for

  • Arizona Real Estate
  • Arizona Real Estate

Seller

avatar-seller
TheStar

Reviews received

Content preview

©THESTAR EXAM SOLUTIONS 2024/2025
ALL RIGHTS RESERVED.


Arizona Real Estate Practice Questions With
Verified Answers


Within how many days after property transfer shall a buyer submit a completed transfer form and
file with ADEQ - Answers✔15 days

An example of involuntary alienation is where title to real estate passes by: - Answers✔Sheriff's
deed
What event will create an involuntary life estate? - Answers✔Dower interest becoming cohate
A valid warranty deed must contain all of the following elements, except: - Answers✔Signed by
grantee
The clause in a deed which sets forth or limits the extent of the interests in the title being
conveyed is: - Answers✔The habendum clause

An instrument that conveys a grantor's interest is called a: - Answers✔Deed
Which of the items listed below is an interest in real property but not an estate? -
Answers✔Mortgage
What law creates an automatic lien on a commercial property, subject to the listing agreement? -
Answers✔Broker lien law

An article may be changed from realty to personalty by: - Answers✔Detachment
What is the purpose of a date in an appraisal report? - Answers✔Define the market Conditions
under which the appraisal was made
The customary procedure for arriving at the fair market value of an office building for selling
purposes is: - Answers✔Figure the adjusted gross income, deduct all costs of operation, and
divide the net operating income by the current rate of return for this type of investment
Market price is closest to: - Answers✔The amount of money given in exchange for the property
(value in exchange)
Which of the following does not relate to appraising? - Answers✔Establishing value

, ©THESTAR EXAM SOLUTIONS 2024/2025
ALL RIGHTS RESERVED.
While determining the net operating income of an investment property, an appraiser will take
into account all of the following except: - Answers✔Interest expense

Negligence that causes harm is a/an: - Answers✔Tort
Which of the following would NOT terminate an agency relationship? - Answers✔Accepting an
offer and opening escrow
Seller and buyer sign a purchase contract. The buyer wishes to give it to another party. This
action is called: - Answers✔Assignment
A buyer and a seller were separated in negotiations by only five hundred dollars. The listing and
sales agent agree to reduce the commission by that amount to make the deal. Each agent gives
their clients two hundred and fifty dollars after closing. What unethical practices exist here? -
Answers✔Undisclosed inducement and dividing commissions with non licensees
A real estate broker, in the typical agency relationship with a seller, is a/an: - Answers✔Special
agent
A lender is limited in the amount of reserves they may hold in a residential real estate
transaction. This is governed by: - Answers✔RESPA

What regulation requires the lender to show the true interest rate? - Answers✔Reg. Z
The effective rate of interest is best described as: - Answers✔Annual percentage rate

The VA funding fee would change based on: - Answers✔Loan to Value
Broker lists property for $180,000. The ad reads $10,000 down and 8% interest. This ad would
violate: - Answers✔Reg. Z
What document lets a buyer and seller see the costs involved with closing the transaction? -
Answers✔HUD-1 statement
A title company is employed by a lender to collect payments on a deed of trust, what is the title
company called? - Answers✔Servicing agent

Permanent finance payments would include which of the following? - Answers✔Principal and
interest
What statement in an advertisement requires a full explanation? - Answers✔Only $5,000 down
What law requires lenders to limit the amount of funds that can be held in reserves? -
Answers✔RESPA

The mortgagor is: - Answers✔The borrower
What is not an encumbrance? - Answers✔Warranty deed

, ©THESTAR EXAM SOLUTIONS 2024/2025
ALL RIGHTS RESERVED.
Real estate loan usury rates are set by: - Answers✔State laws

Prorated taxes would be shown on the settlement statement as a: - Answers✔Credit to buyer,
debit to seller
A residential tenant with a month-to-month lease enjoys which leasehold estate? -
Answers✔Periodic tenancy

In real estate terms, an estate for years also may be called: - Answers✔A leasehold

Which of the following is not essential to a valid contract? - Answers✔monetary consideration
Which of the following cannot be a trustee? - Answers✔C.P.A.
An Arizona real estate licensee may not charge for document preparation according to: -
Answers✔Arizona Constitution Article XXVI

Which of the following requires probate? - Answers✔Tenancy in common
What would NOT apply to an easement appurtenant? - Answers✔Prescription

An easement that conveys along with the title to a dominant estate is known as: - Answers✔An
appurtenant easement
Termination of joint tenancy with rights of survivorship is accomplished by: - Answers✔Deed
by one or more property owner
What agency oversees Active Management Areas and regulates ground water? -
Answers✔ADWR
How many acres are in the following description: NE4 SW4 and the SE4 NW4; SE4 SW4 NE4
Section 22: - Answers✔90
A property described as T5N, R4E of the GSRB&M is located between _____ and _____ miles
north of the base line. - Answers✔24 and 30
The Gila and Salt River Baseline runs: - Answers✔East and west
The difference between the actual value of a property and the total amount of liens against the
property would be: - Answers✔The owner's equity

Which of the following is in the proper order of occurrence? - Answers✔Lis Pendens, judgment,
execution
When the entire loan balance is due because the borrower breached the terms of the loan
agreement, this action is called: - Answers✔Acceleration
What is a loan called when it has even payments for the life of the loan? - Answers✔Amortized

, ©THESTAR EXAM SOLUTIONS 2024/2025
ALL RIGHTS RESERVED.
Where would the exceptions and reservations appear on a title report? - Answers✔Schedule B
Which of the following is NOT necessary for a valid transfer of title to real estate? -
Answers✔Recording of the deed
Which of the following is NOT synonymous with "title"? - Answers✔Possession

What warrant indicates that the grantee is the owner of the property? - Answers✔Seizin

What document is recorded with the deed? - Answers✔Affidavit of value
When a document is recorded, this notice is called: - Answers✔Constructive
An interest in title to real property, not government owned, obtained by action at law based on
adverse possession best describes: - Answers✔Prescription

What deed would place the least liability on the grantor? - Answers✔Quit claim
What action would terminate a purchase contract? - Answers✔Eminent domain

What is the rescission time when a party purchases a timeshare? - Answers✔7 calendar days
A trustor lists his property for sale on May 1. On May 2 he was notified of default on the trust
deed, which default had occurred 45 days prior to notification. The trustor, under these
conditions: - Answers✔May sell the property within the 90 day reinstatement period
A subordination clause is most often used in a: - Answers✔Trust deed

The capitalization method is used to: - Answers✔Convert net income to market value

What would NOT be provided for in a non-recourse loan? - Answers✔Deficiency judgment
After a mortgage is being foreclosed, if the sale amount was insufficient to cover the debt, the
lender may ask for a/an? - Answers✔Deficiency judgment

In an agreement for sale, when does title convey? - Answers✔Upon the last payment

Who benefits from the assignment of rents clause? - Answers✔Beneficiary
A wraparound loan would never be which of the following? - Answers✔A first deed of trust

A defeasance clause would apply to: - Answers✔Deed of trust

You do not need to hold a real estate license to: - Answers✔Act as a residential leasing agent if
you work at only one location during any given workday
Before fixing a minor defect, a tenant must give the landlord how many days' notice to repair the
defect? - Answers✔Ten

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller TheStar. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

71250 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling

Recently viewed by you

Exam (elaborations) ·

(0)

Funeral Preneed Exam Questions with Correct Answers 2024|2025

Exam (elaborations) ·

(0)

ATI Med-Surg Exam: Cardiovascular and Hemoglobin/Latest Solution

Class notes ·

(0)

Alle aantekeningen van hoorcolleges van inleiding in de psychologie

Summary ·

(0)

Alternative to practical paper support for Cambridge IGCSE students

Essay ·

(3)

Moduleopdracht Business performance management cijfer 7 | 2022

Summary ·

(1)

Samenvatting Samen opvoeden, ISBN: 9789046904831 Pedagogiek II

Exam (elaborations) ·

(0)

ANCC IQ domain 3: - Diagnosis and Treatment with Rationale | Latest 2024

$11.49
  • (0)
Add to cart
Added