ASREB
Northern Arizona University
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ASREB State Test B-1 exam 2023/2024 with 100% correct answers
- Exam (elaborations) • 90 pages • 2023
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Before the commissioner issues a public report on subdivided land, the subdivider may not: 
Take lot reservations 
Enter into a binding contract 
Advertise the lots for sale 
Begin lot improvements - correct answer Enter into a binding contract 
 
All of the following can be used in a developer's public report advertisement EXCEPT: 
Specific prices 
A statement which says, "The public report is an endorsement of the project" 
Names of the owners and past history 
Future plans of the general ar...
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ASREB Study Guide exam 2023/2024 with 100% correct answers
- Exam (elaborations) • 126 pages • 2023
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A1...which is the least likely to be offered by a real estate office? 
1. Financing 
2. CMA 
3. Property Development 
4. Insurance - correct answer Insurance 
 
A1_Ownership implies everything except: 
1. Possession 
2. Enjoyment 
3. Control 
4. Destruction - correct answer Destruction 
 
A1_Of the following liens - delinquent property taxes since 2007, mortgage recorded in 2004, IRS lien recorded in 2008 - which has 2nd priority? 
1. IRS lien 
2. 2nd year property taxes 
3. Mortgage 
4. 3 y...
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ASREB Test exam 2023/2024 with 100% correct answers
- Exam (elaborations) • 29 pages • 2023
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A borrower is required to put 10% down for the purchase of a property. The 10% down would be considered... - correct answer Equity 
 
A broker, acting as a property manager, would be considered what type of agent? - correct answer General 
 
A contract has been signed, but title has not yet been passed. The contract is... - correct answer Executory 
 
A house cost $100,000. The buyer is making a down payment of 32,000 and getting a $68,000 loan. If there are 4 points, how much money will b...
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ASREB Test exam 2023/2024 with 100% correct answers
- Exam (elaborations) • 19 pages • 2023
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Within the Arizona Groundwater Code all of the following rights were created EXCEPT? - correct answer Subdivision grandfather right 
 
What is required to give someone the right to sign your name? - correct answer Power of Attorney 
 
The buyer has an investment that has a feature of "a pass through certificate" this investment is most likely a: - correct answer Ginnie Mae Security 
 
When an occupant holds a long term proprietary lease this is referred to as: - correct answer Co-operati...
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ASREB TEST EXAM 2023 /2024 WITH 100% CORRECT ANSWERS
- Exam (elaborations) • 10 pages • 2023
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Who does a salesperson represent? 
A. Client 
B. Customer 
C. Employing Broker 
D. Co-operating Broker - correct answer Employing broker 
 
when must licensee report criminal conviction - correct answer 10 days 
 
licensed mortgage loan originators are registered through - correct answer Nation Wide Mortgage Licensing System 
 
a clause in real estate transactions allows adjustments of payments up or down - correct answer escalation clause 
 
escrow company may disperse commissions direc...
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ASREB TEST EXAM 2023 /2024 WITH 100% CORRECT ANSWERS
- Exam (elaborations) • 16 pages • 2023
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- $12.49
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* Arizona Property Taxes and Assessments (Delinquent) - correct answer ● Penalty for delinquency 16% and tax lien 
● Purchaser of tax liens gets a certificate of purchase 
● May foreclose in 3yrs if taxes are not paid by the property owner. 
 
* Arizona Property Taxes - correct answer ● Charged "ad valorem" (A Latin phrase meaning "according to value"; used to refer to taxes assessed on the value of property) or assessed value 
● Levied once (Jan. 1st) and paid twice a year 
● Oh...
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