Arizona Real Estate Exam Prep

Arizona Salesperson Practice Exam

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Arizona Sample Practice Real Estate Exam Questions and Answers

Arizona State Section

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Question 1

Does Arizona have Homestead Laws?

A	No
B	Yes

Question 2

How many continuing education hours are required?

A	20 hours
B	24 hours
C	12 hours
D	15 hours

Question 3

In Arizona, standing trees would be considered:

A	real property
B	chattels
C	personal property
D	emblements

Question 4

In what circumstances, if any, can a broker in Arizona who is serving as an intermediary representing both parties collect compensation from both the buyer and the seller?

A	Only when both buyer and seller have legal representation
B	Only when both buyer and seller give informed consent to this arrangement
C	None; the broker may only collect compensation from one party to a transaction
D	In most circumstances, except when the buyer and seller are related

Question 5

Does Arizona have Dower laws?

A	Yes
B	No

Question 6

To obtain a Arizona Real Estate License, you must be at least

A	21
B	19
C	18
D	20

Question 7

Does Arizona allow Joint Tenancy or Tenancy by the entirety?

A	Tenancy by the entirety
B	Joint Tenancy
C	Neither
D	Both

Question 8

Which of the following would NOT put a sales person in jeopardy of losing their license in Arizona?

A	Convicted of a felony.
B	Placing an ad claiming to be a broker when they are not.
C	Depositing his/her clients escrow money into a personal account.
D	Being authorized to accept and excessive commission.

Question 9

Does Arizona recognize Holographic wills?

A	No
B	Yes

Question 10

In Arizona, which of the following is a landlord's option for a tenant not paying rent?

A	Lock the tenant out.
B	Shut off the gas
C	Shut off the power
D	Unlawful detainer action in court

Question 11

Is Arizona a community property state?

A	Yes
B	No

Question 12

Which is NOT necessary for a valid contract?

A	Offer
B	Acceptance
C	Due Date
D	Legal Object

Question 13

What are holographic wills?

A	a will that displays in 3D
B	a will that has been approved by each family member.
C	a standard boiler plate will.
D	a will and testament that has been entirely handwritten and signed by the testator.

Question 14

What term means "going to the state?"

A	Emminent Domain
B	escheat
C	Police Power
D	Taxation

Question 15

What are Arizona's Reciprocity states?

A	California
B	New Mexico
C	Arizona does not have any.
D	Texas

Question 16

In Arizona, how soon can a broker receive a commission check after a closing?

A	Once the offer sheet is signed.
B	When the Buyer moves in.
C	When the Seller moves out.
D	Once the transaction is completed and funded.

Question 17

What is Homestead protection?

A	The status provided to a home owner's principal residence that protects the home against judgement up to a specified amount.
B	The estimated value that an asset will have at then end of it's useful life
C	Gradual subsidence of waters, leaving dry land
D	Net cash remaining to investor after sale of investment property

Question 18

In order to obtain an Arizona Real Estate License, you must have a high-school diploma or equivalent

A	True
B	False

Question 19

How often is continuing education due?

A	Every 2 years
B	Every 4 years
C	Every year
D	Every 3 years

Question 20

Which of the following isn't part of a deed?

A	Acknowledgement
B	Premises
C	Habendum
D	Novation

Question 21

How much is the Salesperson license fee?

A	$100
B	$50
C	$75
D	$25

Question 22

In Arizona, who is responsible for maintaining a habitable property and for complying with local housing and building codes?

A	Buyer
B	Lessee
C	Lessor
D	Seller

Question 23

Purchasing four discount points on a $200,000 mortgage will reduce a home buyer's mortgage interest rate by how much?

A	1%
B	4%
C	2.5%
D	2%

Question 23 Explanation:

On a $200,000 mortgage each discount point purchase will be worth $2,000 therefore purchasing four will cost $8,000, generally reducing your mortgage interest rate by 1%

Question 24

Which of the following is required for an Arizona applicant to obtain a Real Estate License?

A	Must have lived in Arizona for more than 2 years.
B	Must have a Bachelors Degree
C	Must be AT LEAST 25 years old
D	Must sit and pass the required exam

Question 25

The Real Estate License Law is administered by

A	Commission of Real Estate in Arizona
B	Arizona Real Estate Commission
C	Department of Justice
D	State of Arizona Department of Real Estate

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