Arizona Real Estate Salesperson Exam practice test

Arizona is a community property state. Property acquired by either spouse during marriage, other than by gift or inheritance, is generally considered what?

A licensee who represents both the buyer and the seller in the same transaction, with the informed written consent of both parties, is acting as what?

For a contract for the sale of real estate to be enforceable, the Statute of Frauds generally requires that the contract be in what form?

Under Arizona law, a seller of residential property has a duty to disclose to the buyer which of the following?

A loan in which the interest rate can change periodically based on a designated financial index is known as what type of loan?

The principle that the value of a property tends to be set by the cost of acquiring an equally desirable substitute property is known as which principle?

A contractor who supplies labor and materials to improve a property and is not paid may file which type of lien against that property?

For a deed to be valid and effective to transfer title, which of the following is required?

A licensee directs minority buyers only toward certain neighborhoods and other buyers toward different ones. This illegal practice is known as what?

An investor buys a property for 180,000 dollars and later sells it for 216,000 dollars. What is the percentage of profit based on the original purchase price?

In Arizona, a developer subdividing land and selling lots must generally provide prospective buyers with which document issued by the Department of Real Estate?

At a closing handled through escrow, the role of the escrow agent is best described as which of the following?

Under a typical residential lease, the landlord's covenant that the tenant will not be disturbed in the use and enjoyment of the premises is called what?

The federal Truth in Lending Act requires lenders to disclose the total cost of credit to a borrower expressed primarily as which figure?

An easement that benefits an adjoining parcel of land and passes automatically when that parcel is sold is best described as what?

In Arizona, an active real estate salesperson's license must be placed with whom in order for the salesperson to engage in licensed activity?

If a buyer breaches a real estate purchase contract, a clause allowing the seller to retain the earnest money as the seller's sole remedy is known as what?

Arizona land is commonly described using the system that references principal meridians and base lines to identify townships and sections. This method is known as what?

An Arizona broker who deposits a client's earnest money into the broker's own operating account has committed which violation?