AZ REAL ESTATE EXAM NEWEST
ACTUAL EXAM QUESTIONS AND
DETAILED CORRECT ANSWERS
(VERIFIED ANSWERS) | 2025 A+
STUDYGUIDE
On April 1st a salesperson took a six-month open listing
on the property. On April 20th another sales person
obtained a six-month exclusive right to sell listing on the
same property. On May 1st the first salesperson obtained
a buyer for the property and a sale closed on June 1st.
This situation may be a/an: Correct Answer Must pay both
because it is an Exclusive Right to Sell contract
A broker receives earnest money from a buyer but instead
of placing the money into the trust account the broker pays
company bills. This action is an example of: Correct
Answer Conversion because he is converting to another
account, money not mixing.
Once an applicant passes the real estate exam, which of
the following statements are true? Correct Answer Once
the state exam has been passed the application has one
year to obtain either an active or inactive license. If an
applicant goes over the year date they must re-take &
pass the state exam again.
,When a deed of trust is being foreclosed how many days
do you have to redeem it? Key word redeem* Correct
Answer Deed of trust has a 90-day reinstatement period
with no redemption period.
Chemicals used in refrigeration, air conditioning,
insulation, and aerosol propellants that drift into the upper
atmosphere where their chlorine components destroy
ozone are called Correct Answer CFCs are
chlorofluorocarbons, an inert chemical used in
refrigeration and aerosol cans.
A married couple bought property together. No other
information is given, what type of tenancy do they have?
Correct Answer A married couple would take title as
community property unless they both requested
survivorship.
If two or more brokers get together to set a commission
rate, this would be in violation of: Correct Answer
Sherman Anti-Trust Law
Except during a time of emergency, property cannot be
confiscated through use of: Correct Answer Under the
government's rights of police power, property can be
confiscated in an emergency.
To receive a tax-free sale of your principal residence, the
homeowner must live in the property as their principal
residence for at least: Correct Answer Homeowners
,seeking the tax-free gain exemption from the IRS must live
in their home for at least 2 years.
A few real estate brokers from different companies were
discussing the possibility of establishing an office policy to
list for sale all raw land at a 10% commission. Which of
the following is true? Correct Answer Sherman Anti-Trust
Law
A "mutual fund" for pooling investor money for investment
in real estate: Correct Answer Real Estate Investment
Trust REIT
A property owner is selling a house "For Sale by Owner."
the seller places the ad in the local newspaper looking for
buyers. If the seller is on the Do Not Call Registry the
broker may call when: Correct Answer The broker
represents the buyer
Short term capital gains are taxed at Correct Answer
ordinary income tax rates
A trust deed is signed by the: Correct Answer Trustor
Which of the following activities will not occur in the
secondary market? Correct Answer Origination fees
A lender would add a margin to an index to accomplish
which of the following? Correct Answer The purpose of the
margin is for the lender to keep current with the cost of
new mortgages.
, An escrow agent can be: Correct Answer All: The escrow
agent is responsible for performing the closing procedures
according to the sales contract or escrow agreement.
If the buyer is assuming an existing loan on the property,
which of the following is prorated at closing? Correct
Answer Interest only
Which of the following would be a debit to the seller
Correct Answer Property Taxes
A preliminary title report would tell you all of the following
except Correct Answer Zoning is not part of the
preliminary title report
The Real Estate Settlement Procedures Act was enacted
to: Correct Answer RESPA ensures that consumers are
provided with important, accurate, and timely information
about the actual costs of selling or closing a transaction,
not about the cost of obtaining a loan and interest. The
costs of obtaining loans and interest are provided under
Regulation Z of the Truth-in-Lending Act.
RESPA does all of the following except: Correct Answer
The HUD-1 statement prevents a buyer from being
charged undisclosed fees; it requires disclosure of all
costs involved with the transaction.
Deed in Lieu Correct Answer this conveys title to the
lender when the borrower is in default and wants to avoid
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Tutorkev. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $22.99. You're not tied to anything after your purchase.
