AZ REAL ESTATE EXAM 2024-2025
NEWEST ACTUAL EXAM QUESTIONS
AND DETAILED CORRECT ANSWERS
(VERIFIED ANSWERS) | A+
STUDYGUIDE
Sam and Monique knew that the old industrial site that
they purchased needed some environmental cleanup, but
they don't have the cash and put cleanup on hold. The
EPA hired its own crew to deal with groundwater issues
because of industrial solvents and billed Sam and
Monique $164,000 when the job was complete. If Sam
and Monique don't pay the bill, which one of the following
could happen? Correct Answer The EPA can seek
damages in court for up to three times the actual cleanup
costs.
Karsten had a great experience with his apartment and
landlord until about two months ago, when the plumbing in
the unit above started leaking into his apartment. The
landlord keeps saying he'll fix it but hasn't, and now
Karsten has mold growing on the ceiling and walls.
Karsten is moving out before his lease has expired, which
is a form of ______. Correct Answer Constructive Eviction
Dawn owns a bungalow three miles from the city center.
She rents it to Bob and Jan Siegel. Dawn is a ______.
Correct Answer Lessor
,Jose, the seller, and Silvia, the buyer, have signed an
option agreement. Until Silvia exercises her option to buy,
only Jose is bound by the option agreement; he must not
sell the property to anyone else during the option period.
What type of contract is this? Correct Answer Unilateral
Woody has a lease with an option to buy on his penthouse
apartment. Each month, 20% of his lease payment goes
toward ________. Correct Answer A down payment
toward the purchase price
Your new home listing has some minor condition issues,
most of which the seller Barry disclosed properly when
filling out the disclosure form. However, you noticed that
he didn't disclose the test results that showed E. coli
bacteria in his well water. You don't say anything, since it's
not your role to fill out the disclosure form. If the buyer
discovers issues with the well after closing, who is legally
liable for this omission? Correct Answer Both you and
Barry
As an Arizona licensee, you can legally enter into an
additional employment agreement with a represented
party if that party signs the state-required
acknowledgement and gets a liability release from the first
licensee. What else is true about this situation? Correct
Answer Although it's legal, a civil suit is still possible.
Sandra didn't realize that Arizona property taxes are split
into two payments. While she paid the first half of her
taxes by the October deadline, she didn't submit her
,second tax payment until April 28 of the following year.
Sandra's payment is considered to be ______. Correct
Answer On time
Elizabeth is an Arizona licensed real estate salesperson.
She recently engaged in some sloppy advertising
preparation that led to a judgment of consumer fraud.
What does Elizabeth owe to ADRE? Correct Answer
written notification
Which type of legal description do courts prefer? Correct
Answer Lot and block
Arizona resident Pablo has a piece of land that was
irrigated with groundwater between 1975 and 1980. Which
of the following grandfathered rights does Pablo likely
have? Correct Answer Irrigation grandfathered right
Johanna is an Arizona licensed salesperson representing
a seller client in a transaction. She understands that she's
expected to behave in line with Arizona's professional
standards of conduct, including honest, fair, and lawful
actions, but she also owes her clients specific duties.
Which of the following describes the duties that she owes
her clients? Correct Answer Fiduciary and statutory duties
an obligation of loyalty and good faith to someone or some
entity that is the highest duty known to the law. It requires
a degree of loyalty and care that does not allow any
violation without exposing the violator to personal liability.
Correct Answer fiduciary duty
, the laws that a company, a government organization, or
the members of a particular profession must obey Correct
Answer statutory duty
*period to period lease definition) Correct Answer an
estate from period to period
A perc test measures ______. Correct Answer How
quickly water travels through soil
Vivienne's rent has gone up 12% from last year because
of the apartment's increased maintenance costs for the
tennis courts and new pool. What type of lease is this?
Correct Answer Escalated
Darius is the buyer's agent for a transaction in which
Cynthia (from a different brokerage) listed her seller client
Allison's property. From whom will Darius receive his
compensation? Correct Answer From his broker
Burt owns a development company that specializes in
constructing new, energy-efficient houses. The best
approach for an appraiser to use in the appraisal of Burt's
newly built homes is the ______. Correct Answer Cost
approach
Identify the individual who is exempt from holding an
Arizona real estate license. Correct Answer A bookkeeper
working at a brokerage
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