Arizona real estate exam pre-post test v 1.0
How many members are on the real estate advisory board
10
Arizona adverse possessor eligible for a perspective isn't after how many years of opened and notorious continuous and hostile use
10 years
The homestead exemption protect the homeowners equity up to
$150,000
An amended public report is a tool available to developers. If there is a material changed to the original subdivision plan what is the filing fee for the amended public report?
$250
What are the maximum payout for the real estate recovery fund
$30,000 per transaction and $90,000 per licensee
What is the initial filing fee for the application for an original public report?
$500
If there is a material noncompliance with the landlord or tenant such that health, safety is not affected, the breaching party has ____ after written notice of the breaches received to remedy the breach
10 days
A licensee must notify the Arizona department of real estate of changes to license information within
10 days of the event
A licensee must notify the Arizona department of real estate, a felony or misdemeanor conviction within
10 days of the event
The tax rate apply to owner occupied residential property is
10%
Emergence lean must be placed on a title by general contractor within
120 days after the mechanics portion of work is completed
To spend a security deposit to repair damages to a residential unit after a tenant vacated, a rental property, the property management firm represents. The landlord must itemize the damages on a written notice that must be given to a tenant within how many days after the tenant turned over possession.
14 business days
Within how many days must a licensee respond to a notice of a hearing
20 days
An active salesperson working under the support and control of an employing brokerage must take how many hours of continuing education to renew the salesperson License
24 hours
If a leases reoccurring. There's at least one month induration the landlord or the tenant can terminate the lease by giving the other parties notice of at least
30 days before the periodic rental, they specified in the notice
How many members of the real estate advisory board must be present to make a quorum
6 Members
If a vacated tenant received the security deposit disposition after moving out of a rented unit and wish to dispute the amount of the disposition within how long after receiving the disposition must the tenant give written notice of the dispute
60 days
If subdivided property liens within an active management area ama then before sales of lots, the subdivider developer must either have a written commitment from the city town, or a private water company to supply the water to the Lots or apply for an obtain
A certificate of assured water supply
The document received by the bidder at a tax sale or judicial foreclosure sale that is replaced by a deed if the debtor fails to redeem the property during the statutory redemption period is called
A certificate of sale
Permanent access to subdivided land means ingress and egress over terrain that is traversable buy a conventional motor vehicle, and access to and from
A federal state or county highway?
With regard to real estate loans, Arizona is
A lien theory state
In Arizona a reality mortgage loan has for all intents and purposes been replaced by
A promissory note and deed of trust
Which of the following falls under the purview of Arizona statue of frauds
A real estate licensing agreement
What clause is a promissory note that declares the entire debt due and payable upon default by the borrower
Acceleration clause
Prior to any transfer of title for a manufactured home on deeded land, which document would need to be recorded in the county where the deeded land is located
Affidavit of affixture
The highest assessment ratio, what applied to which of the following?
An unimproved lot
Which state agency reviews the applications of septic tanks
Arizona department of environmental quality
Which Arizona state agency is responsible for maintaining the Water Quality Assurance Revolving Fund WQARF
Arizona department of environmental quality ADEQ
Where would one look for the law that requires all contracts for the sale and purchase of real estate to be in writing to be enforced?
Arizona statue of frauds
Where would one look for the words that give Arizona licensees the authority to draft contracts incidental to certain real estate transactions?
Article 26 of the Arizona state constitution
Arizona property taxes are based on which of the following
Assessed value
The county assessors for all counties in Arizona identified parcels using a number numbering system. Each parcel is assigned. Any unique number called APN what does APN stand for?
Assessor parcel number
When is the very latest that a consent for limited representation may be signed by the buyer and the seller
Before either party becomes bound to each other in purchase contract
Who would provide instructions regarding signing of the deed of reconveyance
Beneficiary
What is the name of the project in which water is drawn from the Colorado river and transported through a canal that runs from through Central Arizona?
Central Arizona project
Although there are exceptions to the rule, a person who acts as a broker or sales person, or who advertises in a manner that indicates that the person's license as a broker or sales person, without being licensed is guilty of
Class six felony
The use of a ______ allows the Arizona department of real estate in the parties involved to resolve a disciplinary proceedings without the time and expense required by formal administrative hearing
Consent order
If there is no employment agreement what duties does the buyer have to the brokerage in an arrangement where a brokerage is resenting a buyer in the purchaser of a property
Duty to deal with the brokerage fairly and in good faith
What is the name given to a category of water supply that is waste water treated or untreated, flowing out of a treatment plant, sewer or industrial about fall
Effluent water
The right of a defaulted borrower on a deed of trust loan to recover the property before it sells by paying the total amount due on the loan plus appropriate fees and charged is called
Equitable right of redemption
A tenant who leaves personal property in the unit after vacating the unit and notifies the landlord of her intention to reclaim the property, Missouri clean the property within how many days after the notices given
Five days
If there is a material noncompliance, buy a landlord or tenant search, the health and safety is affected. The breaching party has how many days after written notice of the bridge, and received to remedy the breach.
Five days
A judgment lien is valid, how long from the date it was entered by the court
Five years
The statue of limitation to file a complaint against a real estate licensee is _____ from the cause of action. The compliant does not need a valid judgment for a civil court to do so.
Five years
To avoid a disciplinary action for late renewal, what must a licensee who is renewing a license after the expiration date do
It is impossible to avoid disciplinary action for renewing late
Lillian Elliot chose to become a licensed through the Arizona department of real estate as a professional liability limited company. PLLC how must she name her PLLC
Lillian Elliot, PLLC
A property owner may have an ex exempt domestic well in Arizona if it does not exceed a capacity of 35 gallons per_____ and supply in area no greater than 2 acres
Minute
A Home is burning with smoke billowing from the windows. The fire department arrives to manage the fire and put it out in the property. Owner stands in the driveway and prohibits the firefighters from entering the property is the property owner properly exercising the right of the exclusion.
No, because the right of exclusion of subject to health and safety of the community
A broker prepares documents incidental to a property transaction for a client. The broker may.
Not Charge a fee for the service
To make a successful claim against the real estate recovery fund the claimant must first
Obtain a judgment
A candidate for licensure must submit the application documents for the license within _____ of passing the state administrated licensing exam
One year
An aggrieved person may file a complaint with the Arizona Attorney General alleging discriminatory housing practices within how long of the discriminatory event
One year
Degrees. After a real estate license is in good standing expires.
One year
Brooke obtained her real estate prelicensing education, five years ago and immediately applied for and received her sales person's license. She activated her license with good reality and was employed there since the beginning of her license 18 months ago she allowed her license to expire and she did not renew within the Grace. What must broke do to become licensed
Pass the state administrative licensing exam and apply for an original license
The concept of water usage that is first in time first in right called the doctrine of
Prior appropriation
What is the unilateral (one sided and without cause) recession. On a purchase of an unimproved property in a subdivision.
Seven days
Within how many days after termination of a property management agreement is the property management firm provide the owner with the final bank account reconciliation
Seven days
How long after the inspection is completed Lilli septic tank report of inspection expire
Six months
How long does a purchaser of an unimproved subdivision lot have to inspect the property before the purchaser is bound to that purchase contract
Six months
When is survey, also shows the location size and shape of the building on the lot it is referred to as
Spot survey
In Arizona a developer can certify his water supply in two ways one way is by a contract with a municipal provider who allows the developer to tie in to the municipal water distribution system another way is by a certificate of assured water supply issued by
The Arizona department of water resources
Who determines what groundwater supply is available for adequate water supply disclosure in the subdivision public report
The Arizona department of water resources
Who is the attorney of the Arizona Department of real estate ADRE
The Arizona, Attorney General
Which of the following is a false statement about a broker price opinion perform for Arizona real estate
The compensation of the word cannot be greater than $250
A tenant on a month-to-month lease, who intent to vacate on the lamest day of this month, would give notice before
The first day of this month
Who appoints the real estate commissioner?
The governor
A commercial project was in foreclosure and after the sale, the lender did not receive enough money to satisfy the note. Which of the following statements is TRUE
The lender can sue the borrower for deficiency judgment
Joanne obtained a note and deed of trust loan from a bank to purchase her single-family residence, which is located on half an acre in Lake Havasu city Arizona. She defaulted on the loan in her lender foreclosed. She owed $150,000. The property sold out a foreclosure sale for $140,000. What statement is true
The lender cannot get a deficiency judgment against Joanne
Primary method of land description for subdivided property is
The lot block and track method
When the account is established, how much of the employing broker's or designated broker is personal funds can be deposited into the trust account
Thousand dollars
If the funds are not subject to dispute or contingency within, how many days must a property management trust funds be deposited
Three banking days
To qualify for a brokers license a person must have_____ of active sales person experience
Three years
License period Means the _______ period beginning with the date of the original issue or renewal of a particular license
Two year
Which of the following types of contracts falls under the preview of the statue of frauds, and must be in writing to be enforced
Two year lease
Arizona law allows homeowners to leave the Homestead residence for______ before the absence becomes a physical abandonment
Two years
For Arizona residence for for a real estate property in Arizona. The maximum interest rate for a loan is.
Whatever interest rate, the lender and borrower agreed to in writing
Does a property manger for a 20 unit storage complex in which each unit is owned by a different owner need a real estate license
Yes because the units are owned by different owners
Hey sales person or a broker cannot be granted, continuing education credit for more than_____ hours per day
Nine hours
Which of the following statements is true regarding the real estate advisory board
Statute requires the board to meet at least once every odd month
What is the Arizona state regulatory agency for mortgage loan originator's MLO
The Arizona department of financial institutions