Arizona Real Estate License Arizona Real Estate License Agency Relationships and Duties Questions and Answers 2

Question 1

Under Arizona law, what must a real estate agent provide to a prospective buyer at the first substantive contact?

Accepted Answer

A written agency disclosure form

Answer

Arizona requires agents to provide a written agency disclosure at the first substantive contact with a prospective buyer or seller.

Question 2

In Arizona, a dual agency arrangement requires which of the following?

Accepted Answer

Written consent from both the buyer and the seller

Answer

Dual agency in Arizona is permitted only when both parties provide informed written consent to the arrangement.

Question 3

Which duty does an Arizona listing agent owe to a prospective buyer who is NOT the agent's client?

Accepted Answer

Honesty and fair dealing

Answer

Arizona agents owe honesty and fair dealing to all parties, even those they do not represent as clients.

Question 4

An Arizona buyer's agent learns the seller is facing foreclosure. What is the agent's obligation?

Accepted Answer

Disclose this information to the buyer client

Answer

A buyer's agent must disclose material facts that could affect the buyer's decision, including the seller's foreclosure status.

Question 5

What happens if an Arizona real estate agent fails to disclose a known material defect to the buyer?

Accepted Answer

The agent may face license disciplinary action and civil liability

Answer

Failure to disclose known material defects can result in disciplinary action against the agent's license and potential civil liability.

Arizona Real Estate License Practice Test