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ASREB School and State Test Review Questions and Answers Rated A+
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ASREB School and State Test Review
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ASREB School and State Test ReviewHow are AZ property taxes charged? – answer Ad Valorem
What does Ad Valorem mean? - answer Assessed Value
How are Arizona Property Taxes paid? - answer Levied once, Paid Twice
When are AZ property Taxes Due? and Delinquent? - answer CT-Nov and March-May
(O No More Money)
Who do you pay the property taxes to? - answer County Treasurer
What is the penalty for AZ Property Tax Delinquency? - answer16%
Property Tax Assessment Ratio Residential? - answer10%
Property Tax Assessment Ratio Land? - answer16%
Property Tax Commercial/Industrial? - answer19%
Inchoate? - answerLein not yet Complete
Are Mechanics Liens loans? - answerNO
Mechanics Leins must be what to be valid? - answerRecorded
How Many Days must you file a Mechanics "pre lien" notice? - answerwithin 20 Days of
Beginning
What does "CoW" stand for? - answerCompletion of work
How man days from "Cow" to Record a Mechanics lien? - answer120
How many days from recordation of Mechanics lien to file a law suit? - answer180
What does "homestead" do? and how much? - answer$150,000 homeowner equity
against involuntary liens (judgements)
Must a house be a primary residence to be a Homestead? - answerYes
A Homestead cannot have? - answernon-natural entities
, What does a Homestead not protect against? - answerVoluntary Liens
What does the Landlord Tenant Act Do? - answerRegulates relationship between
landlord and tenant
Does the Landlord Tenant Act regulate relationships for property management? -
answerNO
What is the Max security deposit? - answer1.5x rent
How many days must the landlord refund the Security deposit? And how much do they
refund? - answer14 days, 2x amount withheld and Wrongly withheld
How long does a landlord have to deliver possession? - answer5 days
How long does the landlord have to give to enter the rental unit? - answer2 days
How many days notice must a landlord give for Breach of contract? - answer10 days
If a tenant is doing illegal acts on property when can the landlord give notice? -
answerImmediately
How many days does a landlord have to terminate month to month contacts? -
answer30 days
How many days does a landlord have to terminate week to week contact? - answer10
days
How many days does the landlord have to terminate due to flood/fire? - answer14 days
How many days does a landlord have for distraint? - answer10 days
How many days does the landlord have to repair minor defects? - answer10 days
For minor defects on a leased property what may the tenant do to repair? and what is
the dollar amount? - answerDeduct half the rent, $300 (whichever is greater)
How many days does the landlord have to repair essential services? what happens if
they are not repaired in set time? - answer5days, tenant may declare lease in breach
What is a Deposit of money the public can claim against? - answerRecovery fund
How much does it cost for a salesperson and Broker to put into the Recovery fund? -
answer$10 salesperson $20 Broker
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