Exam (elaborations)
B-1 ASREB QUESTIONS AND ANSWERS
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Exam of 9 pages for the course ASREB at ASREB (B-1 ASREB)
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B-1 ASREBA subdivider employs hostesses to show houses. The hostesses explain the features of
the homes and gave the prices and terms. In this scenario:
a. Only the sales broker needs to be licensed
b. Hostesses are employees only and need not be licensed
c. The hostesses must be licensed
d. As long as they do not accept deposits and do not write up sales, the hostesses need
not be licensed - answerc. The hostesses must be licensed
A timeshare would be required to have a public report if:
a. There are twelve or more intervals
b. It contains six or more improved lots
c. It is zoned commercial
d. Gifts are being offered as an incentive - answera. There are twelve or more intervals
How many days does an employing broker have to return a salesperson's license to the
Department of Real Estate once a licensee is terminated from the brokerage?
a. 3
b. 7
c. 10
d. 14 - answerc. 10
Which of the following is FALSE regarding the Affidavit of Disclosure?
a. The Buyer has a five-day right to rescind after receipt of the disclosure
b. The disclosure applies if five or fewer parcels in unincorporated areas not located in a
subdivision are sold, regardless of property type
c. The affidavit of disclosure applies only to the residential-zoned property
d. The affidavit of disclosure will be recorded with the deed - answerc. The affidavit of
disclosure applies only to the residential-zoned property
Arizona real estate law sates that the Real Estate Commissioner may do each of the
following EXCEPT:
a. Investigate a written and verified complaint made against a licensee
b. In order to be appointed to the position, have five years' experience in real estate, title
insurance, or banking industry
c. Investigate the action of licensee at any time
, d. Hold an active real estate license while acting as Real Estate Commissioner -
answerd. Hold an active real estate license while acting as Real Estate Commissioner
A license is granted for:
a. 1 year
b. 2 years
c. 3 years
d. 4 years - answerb. 2 years
An apartment leasing agent without real estate license may NOT accept:
a. Discount on rent for his unit
b. Payment for leasing apartments
c. Commission for sales of apartments
d. A free apartment - answerc. Commission for sales of apartments
To qualify as an Arizona real estate broker, the candidate must:
a. Be a resident of Arizona
b. Obtain a bond
c. First become an associate broker and then a designated broker
d. Have had experience in 3 of the last 5 years - answerd. Have had experience in 3 of
the last 5 years
The Statue of Frauds was brought into being to prevent:
a. Forgery
b. Bribery
c. Undue influence
d. Perjury - answerd. Perjury
Two parties orally agree to enter into a residential lease on November 15th for a period
to being January 1st and expire on December 31st, of the following year. Which is true?
a. The lease may be oral and enforceable
b. The lease must be in writing to be enforceable
c. All leases may be oral and be enforceable
d. If rent is charged all leases must be in writing - answerb. The lease must be in writing
to be enforceable
An Arizona real estate licensee may not charge for document preparation according to:
a. Statue of Frauds
b. Commissioners Rules
c. Sherman Antitrust Act
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