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AZ Real Estate Exam Questions (2024) Correctly Answered To Score A+
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AZ Real Estate Exam Questions (2024) Correctly Answered To Score A+
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Name: Score:170 Multiple choice questions
Term 1 of 170
FHA works under which organization/association?
Shared ownership by two or more people having the right of survivorship.
Class 2, 15%
the ADWR
HUD
Term 2 of 170
After a non-judicial foreclosure sale, the new owner receives what type of deed?
Class 1, 18%
Class 2, 15%
CREDIT to the buyer
Trustee's deed
Definition 3 of 170
A transfer to heirs according to the terms of a will
Devise
REIT
Does an optionee HAVE to purchase the property?
What is considered a blind ad?
,Term 4 of 170
What is the objective of the ADWR?
Beginning and ending date
Frequency of management reports
30-day Cancellation clause/provisions
Amount of money a manager can spend on repairs
The trustee sends the NOD & Trustee's Sale to the truster (borrower) and to anyone who has
recorded a Request for Notice of Default (usually the seller or second lien holder).
The foreclosure notice must also be posted on the property to provide actual notice.
A type of concurrent ownership in a property by two or more persons without right of
survivorship.
Controlling severe overdraft (the over-pumping of groundwater faster than it could be
replenished by nature)
Term 5 of 170
A federal law that subjects non-resident aliens to US income tax fund gain from the sale of US real
property
3 business days
A legally binding contract between a property owner & a broker, authorizing the broker (or
their agent) to represent & market the property for sale
50% undivided interest
FIRPTA
,Definition 6 of 170
When 2 or more parties share ownership rights of a piece of real estate and can transfer his or her
share of the rights to another party.
A deceased co-owner's share of a property goes to his or her heirs in Tenancy in Common
Defeasance Clause
Tenancy in Common
Estate for Years
Constructive Eviction
Term 7 of 170
Which type of ownership automatically includes the Right of Survivorship?
Joint Tenancy
Class 3, 10%
A sale leaseback
Advertising
, Definition 8 of 170
In writing
And identifiable Franti must be named BUT the grantee is NOT required to sign the deed
Legal consideration
Valid legal description
Notarized
Delivery & Acceptance
What are two rights Lesee's have:
Requirements for a Valid Deed
Elements of a Valid Contract
Net Lease (Triple Net Lease)
Term 9 of 170
The Trustee must wait at least how many days before recording the NoD & Trustee's Sale before
holding the trustee's sale?
90 days
3 years
1 year
15 days
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