Free Arizona Real Estate License Questions and Answers

Question 1

Who can an Arizona salesperson legitimately receive compensation from?

Accepted Answer

The salesperson can receive it from an employing broker.

Answer

Regardless of the type of agency, from the seller or the buyer.

Answer

Only from the seller.

Answer

If there’s a buyer's agency relationship, the salesperson can receive it from the buyer.

Question 2

Based on the Arizona licensing law, which of these actions is allowed?

Accepted Answer

Prominently posting "For Sale" signs on real estate properties after receiving written authorization.

Answer

Discouraging a Mexican buyer from making a purchase in a specific neighborhood.

Answer

A licensee listing a property owned by a third party as "For Sale by Owner."

Answer

Offering a television as a reward for attending a promotional event without telling them they'll also need to see a sales presentation beforehand.

Question 3

How are members of the Arizona Real Estate Advisory Board selected?

Accepted Answer

The Senate appoints them to three-year terms.

Answer

The governor appoints them, and they carry out their duties as desired.

Answer

The governor appoints them to five-year terms.

Answer

The Commissioner appoints them to six-year terms.

Question 4

John acquires a real estate license in Arizona, but he still resides in another state. What else needs to be done on his part?

Accepted Answer

John must submit an irrevocable consent agreement to the Arizona Real Estate Department.

Answer

John must meet all state requirements for continuing education.

Answer

John must open a company location inside the state.

Answer

John must hire an "attorney in fact" to represent him in transactions in Arizona.

Question 5

What would happen if it was discovered that someone was operating Arizonan real estate without the required license?

Accepted Answer

There could be civil penalties.

Answer

They would seize their commission.

Answer

The Commissioner's consent could be obtained in order to provide a temporary, retroactive license.

Answer

Parties affected may file a lawsuit for particular performance.

Question 6

In Arizona, when does a salesperson's license expire?

Accepted Answer

Every two years as of the license's activation date.

Answer

Two years after the license was granted, on December 31st.

Answer

Annually on the licensee's birthday.

Answer

Every two years on the licensee's birthday.

Question 7

There is a legitimate life estate homestead exemption in the state of Arizona. What protection would a married couple's vacation house have as a homestead?

Accepted Answer

$0

Answer

$300,000, only when submitting combined tax returns

Answer

$600,000

Answer

$350,000

Question 8

In the State of Arizona, where are all closed file records for a brokerage required to be kept?

Accepted Answer

In the employing broker's on-site office.

Answer

It is the agent's responsibility to maintain their own records.

Answer

It is not necessary to store closed files.

Answer

Whatever place the brokers decide.

Question 9

When someone is employed as a salesperson but has a fully qualified Arizona Broker license, they are referred to as:

Accepted Answer

An Associate Broker

Answer

A Broker Manager

Answer

A Broker

Answer

A Sales Agent

Question 10

A married couple who do not reside in Arizona jointly owns a property. In the event that the husband passed away, the wife would receive:

Accepted Answer

All the rights to stay until her passing.

Answer

Use without restrictions

Answer

Protection of homesteads

Answer

As inherited from her husband, she will receive Courtesy Rights.