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ASREB Practice Exam, Sessions 1-18 Study Guide Latest Version Graded A+ 'THE TEST' STUDY GUIDE Which of the following is in the proper order of occurence Lis pendens, judgement, execution 'THE TEST' STUDY GUIDE A closing disclosure would be used in Residential housing 'THE TEST' STUDY GUIDE A contract based on illegal consideration is Void 'THE TEST' STUDY GUIDE A contract of adhesion would refer to Standard 'take it' or 'leave it' contract 'THE TEST' S...

ASREB Practice Exam Questions with Verified Answers A 3.45-acre lot sells for 50 cents per square foot. What was the selling price? a. $37,570 b. $75,141 c. $76,230 d. $78,712 b. $75,141 A blind ad refers to an ad that a. provides no price b. provides no address c. gives no indication that the property is listed with a broker d. gives no indication that the property has been sold or not c. gives no indication that the property is listed with a broker A borrower is required t...

ASREB National Test A-3 Questions and Answers Already Passed A buyer sees a worn path across the property he is interested in buying. The buyer should be concerned about: Easement in gross Easement by prescription Condemnation Police Power Easement by prescription A chronological summary of title is called Deed report Abstract of title ATLA policy Title insurance report Abstract of title A clause in a deed which specifies the degree of property conveyed is called: Defeasa...

B-1 ASREB Questions and Answers Already Passed A broker receives earnest money from a buyer but instead of placing the money into the trust account the broker pays company bills. This action is an example of: a. Conversion b. Commingling c. Subrogation d. Bona fide a. Conversion A designated broker of a real estate company may: a. Act as a designated broker for more than one real estate company in Arizona b. Take a temporary leave of absence for a period not to exceed 60 days...

ASREB State Test B-1 Questions and Answers 100% Pass A broker goes on a cruise for ten days. Who can be left in charge? Any unlicensed employee Any real estate licensee employed by the broker Only a real estate salesperson Any corporate officers Any real estate licensee employed by the broker A broker prepares documents at a cost of $35. Which of the following is true? The broker cannot charge for the service The broker may charge if the parties agree The broker may charge if it ...

Arizona School of Real Estate & Business: Sales Exam Questions and Answers Rated A+ 1866 Civil Rights Act prohibits discrimination by: Race A borrower is required to put 10% down for the purchase of a property. The 10% down would be considered: Equity A borrower would obtain funds for an FHA loan from: Primary market A broker acting as a property manager for an owner would consider his relationship to be: Fiduciary A broker and an unlicensed buyer are looking at the same hou...

ASREB Ch. 1 Questions and Answers 100% Pass Property rights that go with ownership of real property are referred to as the... bundle of rights Surface of the earth, below to the center, with all natural things is... land Personal property is conveyed with a document called a... bill of sale Naturally growing plants are considered............. property real property Emblements are considered................property. personal property An item which was once personal property ...

ASREB State Test A-1 Questions and Answers Already Passed A buyer is obtaining a new loan to purchase property. The buyer is most likely to accept title with which of the following liens remaining unpaid as of close of escrow? Property taxes for the current year for the property being sold Back taxes on the property being sold Seller's note and deed of trust against the property being sold IRS lien against the seller Property taxes for the current year for the property being sold ...

ASREB National Test A-1 Questions and Answers Already Passed A lessee puts in a bookcase for commercial use; at the end of the lease the bookcase is removed. The bookcase would be considered: Real Property Trade Fixture Appurtenant Chattel Real Trade Fixture A party owns a parcel of real estate with mineral rights, who owns the mineral rights? The state Federal government Original property owner The property owner The property owner A person dies with no will and no heirs....

ASREB State Test B-2 Questions and Answers Graded A+ A broker lists the Wilson's property, and only Mr. Wilson signs the listing. The broker finds a buyer who is ready and willing to buy the property under the terms of the listing. Mrs. Wilson refuses to sign the sales contract. Which of the following is true regarding the commission? Only Mr. Wilson is responsible Both Mr. and Mrs. Wilson are responsible Only Mrs. Wilson is responsible Neither party is responsible Both Mr. and Mrs....