ASREB

Before the commissioner issues a public report on subdivided land, the subdivider may not: Take lot reservations Enter into a binding contract Advertise the lots for sale Begin lot improvements - correct answer Enter into a binding contract All of the following can be used in a developer's public report advertisement EXCEPT: Specific prices A statement which says, "The public report is an endorsement of the project" Names of the owners and past history Future plans of the general ar...

A1...which is the least likely to be offered by a real estate office? 1. Financing 2. CMA 3. Property Development 4. Insurance - correct answer Insurance A1_Ownership implies everything except: 1. Possession 2. Enjoyment 3. Control 4. Destruction - correct answer Destruction A1_Of the following liens - delinquent property taxes since 2007, mortgage recorded in 2004, IRS lien recorded in 2008 - which has 2nd priority? 1. IRS lien 2. 2nd year property taxes 3. Mortgage 4. 3 y...

A borrower is required to put 10% down for the purchase of a property. The 10% down would be considered... - correct answer Equity A broker, acting as a property manager, would be considered what type of agent? - correct answer General A contract has been signed, but title has not yet been passed. The contract is... - correct answer Executory A house cost $100,000. The buyer is making a down payment of 32,000 and getting a $68,000 loan. If there are 4 points, how much money will b...

Within the Arizona Groundwater Code all of the following rights were created EXCEPT? - correct answer Subdivision grandfather right What is required to give someone the right to sign your name? - correct answer Power of Attorney The buyer has an investment that has a feature of "a pass through certificate" this investment is most likely a: - correct answer Ginnie Mae Security When an occupant holds a long term proprietary lease this is referred to as: - correct answer Co-operati...

Who does a salesperson represent? A. Client B. Customer C. Employing Broker D. Co-operating Broker - correct answer Employing broker when must licensee report criminal conviction - correct answer 10 days licensed mortgage loan originators are registered through - correct answer Nation Wide Mortgage Licensing System a clause in real estate transactions allows adjustments of payments up or down - correct answer escalation clause escrow company may disperse commissions direc...

* Arizona Property Taxes and Assessments (Delinquent) - correct answer ● Penalty for delinquency 16% and tax lien ● Purchaser of tax liens gets a certificate of purchase ● May foreclose in 3yrs if taxes are not paid by the property owner. * Arizona Property Taxes - correct answer ● Charged "ad valorem" (A Latin phrase meaning "according to value"; used to refer to taxes assessed on the value of property) or assessed value ● Levied once (Jan. 1st) and paid twice a year ● Oh...