Arizona real estate state - Study guides, Class notes & Summaries

Arizona Real Estate State Exam Questions And Answers Solved 100% Correct!

_________of the Arizona Constitution gives licensees the authority to prepare all types of real estate contract - Article XXVI The______ requires real estate contracts to be in writing to be enforceable - Statute of Frauds The________ are not law but have the force and effect of law on real estate licensees. - Commissioner's Rules A real estate broker is defined in law as someone who performs real estate services for another and for - Compensation Failure of a broker to notify the Commis...

Arizona Real Estate State Exam Questions and answers, rated A+ Which of the following is NOT a specific lien? a. an unrecorded mortgage b. a mechanic's lien c. a judgement lien d. a blanket mortgage - -c. a judgement lien Which of the following is NOT an encumbrance on real property? a. lease b. easement c. homestead right d. restrictive convenant - -c. homestead right Which of the following is NOT an appurtenance? a. easement right b. mineral right c. water rights d. trade fixt...

Which of the following is NOT a specific lien? a. an unrecorded mortgage b. a mechanic's lien c. a judgement lien d. a blanket mortgage - c. a judgement lien Which of the following is NOT an encumbrance on real property? a. lease b. easement c. homestead right d. restrictive convenant - c. homestead right Which of the following is NOT an appurtenance? a. easement right b. mineral right c. water rights d. trade fixtures - d. trade fixtures The physical characteristics of land incl...

What are the two requirements of the property if the anti-deficiency statute is to apply? - 2.5 acres or less. Utilized as a family home for a 1 or 2 family dwelling. In a deed of trust, who is the "trustor?" - The person buying the house (the purchaser). Who has priority in liens even over a purchase money mortgage lien filed prior? - Liens for unpaid property taxes and agricultural liens on crops. Does an IRS lien filed in 2015 have priority over a mortgage filed in 2014? - No. In Arizo...

~ The maximum amount of money that may be paid for any one licensee from the Recovery Fund is: - $20,000 - $30,000 - $40,000 - $90,000 - - $90,000 ~ By June 30, the Real Estate Recovery Fund MUST maintain a balance of: - $200,000 - $250,000 - $300,000 - $600,000 - - $600,000 ~ The real estate Commissioner is appointed by the: - Governor. - Advisory Board. - Legislature. - Brokers within the state. - - Governor ~ The primary purpose of real estate licensing is to: - Have trained p...

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What are the two requirements of the property if the anti-deficiency statute is to apply? - 2.5 acres or less. Utilized as a family home for a 1 or 2 family dwelling. In a deed of trust, who is the "trustor?" - The person buying the house (the purchaser). Who has priority in liens even over a purchase money mortgage lien filed prior? - Liens for unpaid property taxes and agricultural liens on crops. Does an IRS lien filed in 2015 have priority over a mortgage filed in 2014? - No. In Arizo...

Arizona Real Estate State Exam Questions and Answers 2024

ARIZONA REAL ESTATE STATUSES EXAM (ACTUAL EXAM) LATEST 2024 QUESTIONS WITH CORRECT ANSWERS GRADE A+