Aceable Agent Real Estate Practice Questions Arizona Flashcards

Aceable Agent Real Estate Practice Questions (Arizona) Flashcards The process that results in the gradual increase in land

area through deposits of soil by natural forces is known as:

accretion Derek paid $5.41 per square foot for a property with dimensions of 200 ft. by 250 ft. What was the full price Derek paid for the property?

$270,500

What is common law?the side of law that arises from judgements and decisions made in courts rather than explicit legislation Gil passes his Arizona licensing exam. From the exam date, how long does he have to apply for his license?one year

Choose the property that fits this description: 1. The owner

buys shares in a corporation that owns the building; 2. The owner receives a proprietary lease on the unit that they live in; 3. The owner pays a monthly maintenance fee.co-op What is a group of investors that get together and combine resources to make investments they wouldn't be able to make on their own?syndicate What is the main difference between general and limited partnerships?In limited partnerships, some partners have less personal liability.Plants that are cultivated and harvested are considered

personal property and referred to as:

emblements What is unique about the Arizona State Constitution?It is the only state constitution that directly addresses the rights of real estate licensees.

A township consists of:36 square-mile sections

What are homestead laws designed to do?protect a primary residence from creditors

A plat is:a drawing of a development

What is the purpose of a survey?to find and measure the boundaries of a piece of real estate Gus never received the public report from the developer of the subdivided land that Gus purchased. One year after signing the contract, Gus decides he wants to back out of the deal. Can he?Yes, Gus is within the three-year time frame.(If a developer fails to give the public report to a prospective buyer, the purchaser or lessee then has the opportunity to void the contract for the next three years.) Jessica has been helping her friend out with the sale of his house. She helps him with the contracts, negotiates the sale, and takes a commission. However, Jessica's license

expired years ago. This is:

a felony How many square feet are in an acre?43,560 square feet Ellen is on probation as the result of a felony conviction.Will the ADRE grant her a real estate license?No, the ADRE will not grant her a real estate license.If a deed restriction has a stricter rule than a zoning ordinance, which rule must be followed and why?the deed restriction, because the strictest rule is the one that is

followed the deed restriction, because the strictest rule is the one that is followed

Neera just moved into a home with an oddly-shaped window. She has custom drapery made for the window and permanently attached to the wall. Is the drapery a fixture?Why or why not?It's a fixture, because it's adapted to the home and permanently attached.What is a wildcat subdivision?when a developer splits and sells lots for new homes while avoiding the ADRE's regulations around subdivision development Which of these is the person who creates a trust? trustor Jim's family decided to sell one of their side-by-side townhomes, but still wanted to be able to use the next-door driveway to access their parking spot. In the deed of the house they sold, they created an easement across the driveway. What kind of easement is it?easement by grant Which of these describes a dominant tenement? Brady is allowed to cross his neighbor's field to reach his home.Of the following individuals, who needs an Arizona real estate license?Josh, who is a telemarketerClarissa, who offers to sell a home for a commissionMatt, who is the property manager of a nursing homeAlex, who manages a hotel Clarissa only

The gradual loss of land over time is known as: erosion

Of the following individuals, who needs and Arizona real estate license?Tom, who manages an RV parkSera, who creates marketing material for a nursing homeAli, who is an attorneyFrank, who acts as a business broker Frank only What is a cease and desist order?an order issued by the ADRE to stop a certain action that violates the license law Which of the following is a portion of a legal description?lot number C corps are subject to double taxation, while S corps are not.

TRUE

Adverse possession requires:open, notorious, and continuous use of a property

A married couple buying property in Arizona wants to own the property as tenants by the entirety. Can they do this?Why or why not?

No: Tenancy by the entirety is not recognized in Arizona.

Father Timothy wants to open a church in an area that is zoned for retail. The zoning regulations have houses of worship listed as potential uses for the zone. What kind of zoning variation does he need to get?a special exception If a property has a conditional deed restriction, what happens if the property owner violates the deed restriction?They lose the title to the property.Which of these people is a remainderman? Aaron will inherit an estate after the measuring life of a life estate ends.Lali buys a tract of land and builds a home on it, puts up a fence around its perimeter, and installs a deck in the back of the home for entertaining guests. The home, fence, and

deck are examples of:

improvements PUD owners have these two types of ownership: fee simple absolute and tenancy in common