Exam (elaborations)
Arizona Real Estate Session 1 Comprehension Exam Q&A
- Institution
- Arizona School Of Real Estate And Business
Arizona Real Estate Session 1 Comprehension Exam Q&A
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Arizona Real Estate Session 1Comprehension Exam Q&A
Q: When may the Commissioner investigate a real estate agent? - ANSWER-A: The
commissioner may in fact investigate any real estate agent, broker or real estate
brokerage at anytime without any notice , however he or she must investigate if a
written complaint has been submitted on behalf of a member of the general public.
Q: How does the Commissioner interact with the Real Estate Advisory Board? -
ANSWER-A: The Real estate Advisory Board is designed to aid and assist in
overseeing the actions and responsibilities of both the real estate division and the
real estate commissioner. The real estate Advisory Board is made up of members
who are appointed by the governor.
Q: After passing your school exam, how long do you have to take the state
examination? After passing the state examination, how long do you have to submit
your Salesperson License Application? - ANSWER-A: You have a total of 10 years
to take the state examination after passing your schools exam . Once you have
passed these states examination you have only one year to activate your license.
Q: Besides selling real estate property, what is another activity that would require a
real estate license? - ANSWER-A: Anytime you were working with the expectation of
earning money or Commission and the sale lease exchange or any other
conveyance of real estate on the behalf of someone else, you would be required to
have a real estate license in the state of Arizona
Q: You earn your real estate license on November 8th, 2017. On what day will your
license expire? - ANSWER-A: Your license will always expire on the last day of the
month in the month in which were license was issued 2 years after your initial license
was issued. So in this case you are license would expire on November 30th, 2019.
Q: If you have not completed your continuing education by the renewal day, how
long do you have to renew your license without taking the entire 90-hour initial
course again? - ANSWER-A: The state of Arizona will offer you a one year grace
period , but during this grace period you cannot work as a real estate licensee work
as a real estate agent on behalf of anybody else during this time. (You can NOT earn
any commissions)
Q: Your real estate license expires August 31st and you are not planning on
renewing. A client's home sale is procured on August 30th but COE (close of
escrow) is not until October 15th. Can you legally be paid a commission after COE? -
ANSWER-A: The answer here is yes. Because at the time the sale was procured
you were in fact licensed your broker would pay you your Commission even after
your expiration of license because you earned your Commission when in fact you did
have an active real estate license.
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