FREE Arizona Real Estate License Basic Questions and Answers

Question 1

Property managers in Arizona are in charge of the following, with the exception of:

Accepted Answer

Compensating referrals to those who bring in new tenants.

Answer

Rent collection.

Answer

Supporting the unit's general maintenance.

Answer

Checking the credit histories of potential tenants.

Question 2

In an Arizona condo complex with a total of only 25 units, who is in charge of providing all CCRs and HOA paperwork to a potential buyer?

Accepted Answer

The present owner

Answer

The escrow firm

Answer

The organization who is currently in charge

Answer

The HOA Board

Question 3

In Arizona, corporations often possess property under what kind of ownership?

Accepted Answer

Severalty

Answer

Tenancy by Entirety

Answer

Tenancy in Common

Answer

Joint Tenancy

Question 4

What kind of license is required to sell timeshares in Arizona?

Accepted Answer

Real Estate License

Answer

Timeshare Sales License

Answer

Developer's License

Answer

No license is needed

Question 5

When is a licensee subject to an investigation by the Arizona Department of Real Estate?

Accepted Answer

Upon receipt of a consumer's confirmed written complaint.

Answer

When licensees' spot checks turn up a pattern of violations.

Answer

When it determines that such action is necessary.

Answer

When a majority of the commission determines that this kind of action is necessary.

Question 6

In Arizona, there is a married couple that is legally separated. The spouse posts a listing for their jointly acquired vacation property in Tucson and gets a very good offer. What will be the outcome?

Accepted Answer

The sales contract is void since mutual consent to sell wasn’t granted.

Answer

The sales contract is valid and common since it only takes one to sell in Arizona.

Answer

The sales contract is valid for the husband's share only.

Answer

The sales contract is voidable by either party.

Question 7

By what means do the majority of government buildings in the State of Arizona own real property?

Accepted Answer

Severalty

Answer

Government Freehold

Answer

Eminent Domain

Answer

Tenancy by the Entirety

Question 8

Which Arizonan law completely overrides a tenancy?

Accepted Answer

Community Property Laws

Answer

Joint Tenancy Laws

Answer

Severalty Laws

Answer

Tenancy in Common Laws

Question 9

In Arizona, you need to have the following in order to sell land and attached manufactured homes:

Accepted Answer

An active, legal real estate license.

Answer

Ownership of a company that manufactures homes since only the manufacturer can sell manufactured homes.

Answer

A sales license for mobile homes.

Answer

An active, legal dealer’s license.

Question 10

When does a new buyer in Arizona become the owner of the property?

Accepted Answer

When the buyer receives the deed.

Answer

When payment to the seller is made.

Answer

When the buyer receives the keys.

Answer

After the escrow agent receives proof of funds.