ASREB Exam Questions with 100% Correct Solutions

ASREB Exam Questions with 100% Correct Solutions Salesperson is working for a principal, but the salesperson exceeds authority in agreement. Principal does nothing to correct the actions, and the public is led to believe the actions were okay. Agency? - Correct Answer ️️ -Estoppel Amount stated in a purchase contract in case the buyer breaches is called: - Correct Answer ️️ -Liquidated In a sublease with a positive leasehold who benefits from excess rent? - Correct Answer ️️ -Sub-lessor Property taxes are 1,525. 1st half paid by seller closes November 2nd - Correct Answer ️️ -512.57 Debit seller, credit buyer (518.07) Deed of trust is created, it also needs: - Correct Answer ️️ -Note Consumer financial protection bureau is governing - Correct Answer ️️ -Savings & Loan Associations Fixed rate 30 year loan is partially prepaid, has an effect on - Correct Answer ️️ - Shortening the life of the loan Buyers interest in a purchase contract is assigned to 3rd party, sellers' permission - Correct Answer ️️ -Never Required Apt. 2 units :900, 2550 - Correct Answer ️️ -2,030 90,000 1500 + 6% annum - Correct Answer ️️ -427.50 Sell house for 113,000 7% VA Loan 110,000 2 ½ points termite inspection - Correct Answer ️️ -29,840 Commissioner may issue cease and desist on all but - Correct Answer ️️ -Appeal to Advisory Board Low income loans - Correct Answer ️️ -GNMA Closing statement not pro-rated - Correct Answer ️️ -Security deposit What is not required on brokerage receipt - Correct Answer ️️ -brokerage name Brokers are required to have all except: - Correct Answer ️️ -Trust Account Not appear on public report - Correct Answer ️️ -Market Value Taxes are 915 a year, seller paid 1st half on October 1, close escrow on 11/16 - Correct Answer ️️ -340 Debit Seller Relationship of Licensee to Broker - Correct Answer ️️ -General Sell June 6th, Water Bill $86 and taxes are $778 - Correct Answer ️️ -437 Credit Seller, 492 Debit Buyer Life Tenant Holds - Correct Answer ️️ -Fee Simple Couplings - Correct Answer ️️ -Home Inspectors/Arizona Board of T