Az real estate exam - Study guides, Class notes & Summaries

2024 AZ Real Estate exam with verified questions & Answers 2023//AZ Real Estate What is the form of co-ownership in which two or more persons each have an undivided interest in the property but no right of survivorship? - CORRECT ANSW-Tenancy in Common A type of ownership that is considered a long-term lease is best described as: - CORRECT ANSW-Cooperative Building codes are primarily enforced by: - CORRECT ANSW-the issuance of permits In the allodial system of land owners...

A 3.45-acre What is the selling price? lot sells for so cents per square foot. A. 537,570 B. $75,141 C. 576,230 D. $78,712 correct answers B A blind ad refers to an ad that: A. provides no price. B. provides no address. C. gives no with a broker. indication that the property is listed D. gives no been sold or not indication that the property has correct answers C purchase of a property. A borrower is required to put 10% down The 10% down for the considered would be A equit...

~ The maximum amount of money that may be paid for any one licensee from the Recovery Fund is: - $20,000 - $30,000 - $40,000 - $90,000- $90,000 ~ By June 30, the Real Estate Recovery Fund MUST maintain a balance of: - $200,000 - $250,000 - $300,000 - $600,000- $600,000 ~ The real estate Commissioner is appointed by the: - Governor. - Advisory Board. - Legislature. - Brokers within the state.- Governor ~ The primary purpose of real estate licensing is to: - Have trained prof...

AZ real estate State practice exam Questions and Answers 2024

A 3.45-acre What is the selling price? lot sells for so cents per square foot. A. 537,570 B. $75,141 C. 576,230 D. $78,712 B A blind ad refers to an ad that: A. provides no price. B. provides no address. C. gives no with a broker. indication that the property is listed D. gives no been sold or not indication that the property has C purchase of a property. A borrower is required to put 10% down The 10% down for the considered would be A equity. B. boot. C. tax shelter. D. l...

Would the sale of personal property include a...? Bill of Sales What gov't right requires compensation to private property owners? Escheat The state obtains Escheat Property after a person dies Transfer of real property requires a: Deed What is the economic characteristic of real property? Frozen Asset What is considered personal property? Promissoty Note Fixtures are considered...? Real property Three things true about discount points? - They increase the lender's yeild - They are usu...

AZ Real Estate exam questions and Answers 2024

AZ Real Estate exam questions and answers 100% pass What is the form of co-ownership in which two or more persons each have an undivided interest in the property but no right of survivorship? Tenancy in Common A type of ownership that is considered a long-term lease is best described as: Cooperative Building codes are primarily enforced by: the issuance of permits An interest in and possession of any real property is called An estate Roberta wishes to build her garage 2 feet from her side l...

Agency Legal relationship where one party allows someone else the powers to act for them or on their behalf in some manner or capacity" Vicarious liability (Respondent Superior) refers to the responsibility one individual has for the acts of another In the real estate business, this would be the case when a listing or buyer's broker is an "agent" of the seller or buyer It also means that as an agent, we share or have the same intents as our principals For real estate relationship...

_________of the Arizona Constitution gives licensees the authority to prepare all types of real estate contract - ANSWER Article XXVI The______ requires real estate contracts to be in writing to be enforceable - ANSWER Statute of Frauds The________ are not law but have the force and effect of law on real estate licensees. - ANSWER Commissioner's Rules A real estate broker is defined in law as someone who performs real estate services for another and for - ANSWER Compensation Failur...