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Terms in this set (19)

Property taxes are assessed on the
A. Capital gains on the property
B. Value of the property
C. Amount paid for the property
D. Assessments on the property
Amount paid for the property
Rows of townships are called
A. Tiers
B. Ranges
C. Townhouses
D. Condominiums
Ranges
The 1988 amendments to the federal fair housing act prohibits discrimination based on
A. Age and sex
B. Handicapped and religion
C. Familial status and handicapped
D. Familial status and age
Familial status and handicapped
If the buyer of a property wants to remain anonymous, what term should be used for that buyers name in the purchase contract?
A. Or nominee
B. Or nominor
C. Or principal
D. Or assignor
Or nominee
The doctrine of water usage in Arizona is known as
A. Riparian
B. Prior application
C. Reliction
D. Littoral
Prior application
Which of the following listings would not be entered into a multiple listing service?
A. Pocket listing
B. Entry only listing
C. Limited service listing
D. Full service listing
Pocket listing
The following would be an example of what type of surveying system? Beginning at the SE corner of Tatum and cactus, proceed 2,640 feet north, thence 400' west, thence 700 feet south, and back to the beginning
A. Rectangular survey
B. Block and lot
C. Metes and bounds
D. Recorded plat
Metes and bounds
What is the highest form of estate?
A. Fee simple
B. Defeasible fee
C. Fee conditional
D. Estate in remainder
Fee simple
What is the homestead exemption in Arizona?
A. 20,000
B. 50,000
C. 100,000
D. 150,000
150,000
The main purpose of the federal housing administration is to
A. Guarantee loan
B. Insure loans
C. Lend money
D. Sell loans
Insure loans
The relationship between a broker and their salesperson is what type of agency?
A. General
B. Special
C. Ostensible
D. Fiduciary
General
Which of the following is determined by measuring the exterior dimensions of a home including garages, patios, and entryways?
A. Square footage of living area
B. Square footage under roof
C. Front footage area
D. Heated and cooled areas
Square footage under roof
What is the tax assessment rate applied to owner-occupied residential property in Arizona?
A. 10%
B. 12%
C. 15%
D. 18%
10%
When a property that has a well is sold, what must be sent to ADWR?
A. Affidavit of Affixture
B. Well inspection report
C. Transfer of well rights form
D. Affidavit of disclosure
Transfer of well rights form
Two property managers are planning to set rental rates on their units to keep the rents high in the area. This would be a violation of
A. Fair housing laws.
B. Respa
C. Antitrust laws
D. Laws against steering
Antitrust laws
Under what condition would a listing agreement NOT terminate?
A. The principal dies
B. The broker dies
C. The salesperson dies
D. The bankruptcy of the seller
The salesperson dies
What document is recorded with the deed?
A. Affidavit of value
B. Purchase contract
C. Promissory note
D. Settlement statement
Affidavit of value
What organization receives most of the benefits of proceeds from the sale or lease of state trust land?
A. County governments
B. State schools
C. Arizona House of Representatives
D. Arizona senate
State schools
What is considered functional obsolescence?
A. Worn out carpet
B. Lack of parking
C. A building located next to a factory
D. A five bedroom house with one bathroom
A five bedroom house with one bathroom
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