Arizona real estate exam Study guides, Class notes & Summaries

Arizona Real Estate Exam Guide Questions and CORRECT Answers Gareth inherits a plot of land from Jessie. A year later, he sells half of the property to kim. A year later, she gives her half to Alex, who sells the mineral rights. This series of events best represents the legal property of: A. Control B. Disposition C. Possession D. Quiet enjoyment - Correct ANSWER- Disposition Which is not an example of an improvement? A. the barn on the back of the property B. the fence running alo...

Article 26 of the State of Arizona constitution gave what powers to real estate agents: a. The ability to negotiate leases b. Authority to prepare real estate documents and draft contracts c. The rights to charge commissions for selling real estate in Arizona d. The powers to be able to revise settlement statements - Authority to prepare real estate documents and draft contracts An encumbrance could be: a. Any of these b. Liability c. C&R's d. Lien - Any of these Before bringi...

Arizona Real Estate Exam Questions and answers/ John makes an offer to Joe, and Joe makes a counter offer. Joe dies before the counter offer is accepted. What is the contract status? A. Valid B. Void C. Enforceable D. Bilateral - -B. Void 1031 Exchange - -A transaction that, under provisions of Section 1031 of the Internal Revenue Code, allows a taxpayer to sell an investment property and purchase another investment property in its place without paying capital gains on the proceeds...

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

Which of the following is NOT a specific lien? a. an unrecorded mortgage b. a mechanic's lien c. a judgement lien d. a blanket mortgage - c. a judgement lien Which of the following is NOT an encumbrance on real property? a. lease b. easement c. homestead right d. restrictive convenant - c. homestead right Which of the following is NOT an appurtenance? a. easement right b. mineral right c. water rights d. trade fixtures - d. trade fixtures The physical characteristics of land incl...

Arizona Real Estate State Exam Questions and answers, rated A+ Which of the following is NOT a specific lien? a. an unrecorded mortgage b. a mechanic's lien c. a judgement lien d. a blanket mortgage - -c. a judgement lien Which of the following is NOT an encumbrance on real property? a. lease b. easement c. homestead right d. restrictive convenant - -c. homestead right Which of the following is NOT an appurtenance? a. easement right b. mineral right c. water rights d. trade fixt...

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 lot line. City code calls for all side setbac...

Arizona real estate exam review (new), Questions and answers/ Which of the following is not properly included in the concept of the power of eminent domain: - - The right of government to confiscate property from the owner. This right falls under police power because confiscation doesn't allow for just compensation and eminent domain is a power with just compensation. A valid warranty deed must contain all of the following elements, except: - -Signed by grantee A valid warranty deed do...

All of the following items would have bearing on whether an item is considered personal property EXCEPT: A. damage from removing the item from the property B. the manner of attachment C. any agreement between buyer and seller concerning the item D. the cost of the item D. The cost of the item. In the sale of commercial property, which of the following documents would be used to transfer shelves, counters, and other personal property? A. Chattel real B. Bill of sale C. Security ag...

Which of the following is not properly included in the concept of the power of eminent domain:The right of government to confiscate property from the owner. This right falls under police power because confiscation doesn't allow for just compensation and eminent domain is a power with just compensation. A valid warranty deed must contain all of the following elements, except:Signed by grantee A valid warranty deed does not require grantee's signature. You plan to build a high rise b...