Exam (elaborations)
ASREB STATE TEST B-2 QUESTIONS AND ANSWERS
- Institution
- Arizona School Of Real Estate And Business
ASREB STATE TEST B-2 QUESTIONS AND ANSWERS
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ASREB STATE TEST B-2 QUESTIONSAND ANSWERS
Which of the following listed below would NOT be part of an exclusive buyer-
brokerage agreement?
Agreement must be in writing
Beginning and ending date is required
All material terms set forth
All signatures notarized - ANSWER-All signatures notarized
When a buyer signs an exclusive buyer-brokerage agreement, the buyer agrees to
all of the following EXCEPT:
To have one broker represent them
To pay the broker a commission if stated in the agreement
To be shown properties listed by that brokerage house only
Definite beginning and ending date - ANSWER-To be shown properties listed by that
brokerage house only
When a buyer enters into a lease-purchase, which of the following are true?
The buyer has an option to buy the property
The buyer is obligated to buy the property
The buyer would have the first right to refuse
The buyer would have a life estate - ANSWER-The buyer is obligated to buy the
property
After payment has been made from the recovery fund on behalf of a licensee, if the
licensee repays the recovery fund, the licensee's right to reapply for a license:
May be denied for an indefinite period of time
May be denied by the Commissioner for a maximum of 5 years
May not be denied if the fund has been repaid
Will be rejected unless the licensee agrees to obtain a provisional license -
ANSWER-May be denied by the Commissioner for a maximum of 5 years
As of June 30th of any year, the real estate recovery fund must maintain a balance
of to avoid additional fees to licensees.
$200,000
$250,000
$300,000
$600,000 - ANSWER-$600,000
When the real estate commissioner pays a claim from the recovery fund, which of
the following is true before a licensee may obtain a real estate license once again?
Licensee must pay back the amount the fund paid out
Licensee must work under probation for one year
Licensee will have a limited license for one year
Licensee must ask permission from the court to reinstate the previous license -
ANSWER-Licensee must pay back the amount the fund paid out
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