Arizona real estate Study guides, Class notes & Summaries

ARIZONA REAL ESTATE EXAM COMPLETE QUESTIONS AND ANSWERS

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Arizona Real Estate Salesperson Exam-with 100% verified solutions -tutor verified

_________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...

What are the two requirements of the property if the anti-deficiency statute is to apply? - correct 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?" - correct answer The person buying the house (the purchaser). Who has priority in liens even over a purchase money mortgage lien filed prior? - correct answer Liens for unpaid property taxes and agricultural liens on crops. Does an IRS lien filed in 2015 have prior...

~ The maximum amount of money that may be paid for any one licensee from the Recovery Fund is: - $20,000 - $30,000 - $40,000 - $90,000 - - $90,000 ~ By June 30, the Real Estate Recovery Fund MUST maintain a balance of: - $200,000 - $250,000 - $300,000 - $600,000 - - $600,000 ~ The real estate Commissioner is appointed by the: - Governor. - Advisory Board. - Legislature. - Brokers within the state. - - Governor ~ The primary purpose of real estate licensing is to: - Have trained p...

Within how many days after property transfer shall a buyer submit a completed transfer form and file with ADEQ - correct answer 15 days An example of involuntary alienation is where title to real estate passes by: - correct answer Sheriff's deed What event will create an involuntary life estate? - correct answer Dower interest becoming cohate A valid warranty deed must contain all of the following elements, except: - correct answer Signed by grantee The clause in a deed which sets f...

Section 13, Unit 1: Arizona Real Estate Contracts 100% Correct

Who regulates ground water in AZ? ADWR (Arizona Department of Water Resource) Who is responsible for pest management in AZ? Arizona Department of Agriculture What does the ADRE Enforce? Real Estate Statutes and Commissioner's Rules How long is a septic tank inspection good for? 6 Months Which law requires a non-us resident to pay tax gains from US property sale? U.S. Foreign Investment in Real Property Tax Act and is referred to as F.I.R.P.T.A. A 3.45 - Acre lot is selling for 50...