Arizona Real Estate State Exam Package Deal

Arizona property taxes are based on: - Answer Assessed value The tax rate applied to owner occupied residential property is: - Answer 10 % What lien has priority first: - Answer Property taxes Property taxes become a lien the first day of: - Answer January If a property is not bid at a t...

Encumber, Access, Use, Transfer, Exclude are all __________ - Answer Bundle of Rights Real Property that you can touch is __________ - Answer Corporeal Real Property you can NOT touch is __________ - Answer Incorporeal Chattel is __________ - Answer Personal Property Adjoining landowners...

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? - Answer Tenancy in Common A type of ownership that is considered a long-term lease is best described as: - Answer Cooperative Building codes are primaril...

What are the two requirements of the property if the anti-deficiency statute is to apply? - Answer 2.5 acres or less. Utilized as a family home for a 1 or 2 family dwelling. In a deed of trust, who is the "trustor?" - Answer The person buying the house (the purchaser). Who has priority in li...

Within how many days after property transfer shall a buyer submit a completed transfer form and file with ADEQ - Answer 15 days An example of involuntary alienation is where title to real estate passes by: - Answer Sheriff's deed What event will create an involuntary life estate? - Answer Dow...

If a commission amount or percentage is NOT stated in the listing agreement: - Answer The broker would not be entitled to a commission Most homes in AZ are cold with legal descriptions that state: - Answer Lot and block In which of the following appraisal methods DOES an appraiser need to dete...

appurtenant - Answer Runs with the land when item is transferred assemblage - Answer The combining of two or more adjoining lots into one large tract. Buffer zone - Answer In zoning, a strip of land separating one land use from another. 1 year - Answer 1. Residential rental agreements. 2. ...

Individuals must be licensed to discuss: - Answer Price, Terms, Availability In Arizona, a real estate license will expire: - Answer Last day of the month in which the license was activated every two years In Arizona, In order to be a real estate broker, you must: - Answer Be active in real es...