months of passing the real estate licensing exam?A. 12B.

ARIZONA REAL ESTATE LAW,ADRE,AND LICENSING Flashcards A licensee must activate his or her license within how many months of passing the real estate licensing exam?A. 12B.

18C. 24D. 30

• 12

All of the following individuals need a real estate license

EXCEPT a:A. real estate broker selling his own propertyB.

person collecting rents for a fee on numerous propertiesC.referee in bankruptcyD. route salesperson who is paid a fee for prospect referrals to a broker

• referee in bankruptcy

An original real estate license period ends:A. at the last of

the yearB. at the end of the licensee's birth monthC. two years from end of month of issueD. July 1

• two years from end of month of issue

Who advises the Commissioner on legal matters?A. The legislatureB. The Attorney GeneralC. The Advisory BoardD. The Commissioner's spouse

• The Attorney General

A real estate license is granted for:A. 1 yearB. 2 yearsC. 3

yearsD. 4 years

• 2 years

A temporary broker's license may be issued to the spouse

of a deceased broker in order to allow the company to:A.

continue business until the deceased broker's estate is probatedB. hire a new designated broker for 90 daysC.wind down existing businessD. sell any company-owned properties

• wind down existing business

Which of the following is true? The Arizona Department of

Real Estate:A. audits broker's trust accountsB. enforces

the Arizona Residential Landlord and Tenant ActC.investigates fair housing violationsD. enforces commission disputes between brokers

• audits broker's trust accounts

Which of the following persons needs a real estate license?A. Attorney-in-fact selling a residence for a principalB. Attorney-in-fact who is acting as a brokerC.Attorney at law selling a residence to settle a client's estateD. Licensed personal property broker acting under their own license]

• Attorney-in-fact who is acting as a broker

Article 26 of Arizona's constitution prohibits licensees from

performing all the following practices EXCEPT:A. preparing

purchase contracts for buyers and sellers whom the licensee does not representB. charging a flat fee for negotiating an offer for a buyer the licensee representsC.acting as a paid facilitator between parties to a leaseD.completing contracts between an unrepresented buyer and FSBO seller for a commission

• preparing purchase contracts for buyers and sellers

whom the licensee does not represent

The duties of the Commissioner include all of the following

EXCEPT:A. inspecting the books and records of

licenseesB. hiring and firing employees of the Real Estate DepartmentC. investigating complaints made against a licenseeD. revoking the license of an agent when a complaint of fraud has been filed

• revoking the license of an agent when a complaint of

fraud has been filed By what power does the State have the right to license brokers and salespeople?A. Enabling powersB. FTCC.1968 Federal Consumer Protection LawD. Police power

• Police power

Arizona Real Estate Law states that the Real Estate

Commissioner may do each of the following EXCEPT:A.

investigate a written and verified complaint made against a licenseeB. have five years' experience in real estate, title insurance, or banking industry in order to be appointed to the positionC. investigate the action of a licensee at any timeD. hold an active real estate license while acting as Real Estate Commissioner

• hold an active real estate license while acting as Real

Estate Commissioner

The Real Estate Commissioner is appointed by the:A.

GovernorB. LegislatureC. Board of RealtorsD. Senate only

• Governor

An Arizona real estate licensee may not charge for

document preparation according to:A. Statute of FraudsB.

Commissioner's RulesC. Sherman Antitrust ActD. Arizona Constitution Article 26

• Arizona Constitution Article 26

Which of the following persons needs to have a real estate license?A. A person selling a time shareB. An attorney marketing real estateC. The manager of one residential propertyD. A referee in a bankruptcy

• An attorney marketing real estate

Of the following, who is required to have a real estate license?A. An attorney dealing within his expertiseB. A person buying and selling 4 properties every 12 monthsC.An auctioneer auctioning real propertyD. A property manager managing one property for one owner

• An auctioneer auctioning real property

Who is responsible for formulating the Rules and Regulations in Arizona?A. State LegislatureB. Advisory BoardC. Real Estate CommissionerD. Attorney General

• Real Estate Commissioner

A salesperson is legally allowed to:A. advertise the

property for sale in the salesperson's nameB. act as agent for the sellerC. close a pending transactionD. accept a listing on behalf of the broker

• accept a listing on behalf of the broker

The Commissioner has the power to do all of the following

EXCEPT:A. prescribe rules and regulationsB. investigate

verified written complaintsC. examine office recordsD.create real estate statutes

• create real estate statutes

To hold a real estate license in Arizona, an individual must

fulfill all of the following requirements EXCEPT:A. have a

high school diplomaB. be of legal ageC. be of good moral characterD. fulfill an education requirement

• have a high school diploma

The duties of the Real Estate Commissioner include:A.

overseeing the activities of local real estate boardsB.overseeing the distribution of brokers' commissionsC.prescribing rulesD. appointing the Real Estate Advisory Board

• prescribing rules

Which of the following complaints against a licensee would the Arizona Department of Real Estate investigate?A.Landlord-tenant disputesB. Homeowners' association disputesC. Ethics complaintsD. Trust account complaints

• Trust account complaints

An unlicensed manager of an apartment house would be in

violation of the real estate law if he or she:A. collected a

commission on the rentalsB. collected a commission on the sale of the buildingC. received a bonus for repairs he or she completedD. paid no rent for an apartment in the building

• collected a commission on the sale of the building

To be an agent, an individual:A. is required to be licensed

to one broker onlyB. can be licensed to no more than two brokersC. need not be licensed to a brokerD. needs to be licensed to a developer-builder to show new homes

• is required to be licensed to one broker only

The rules of the Real Estate Commissioner:A. have the

force and effect of the law on licenseesB. are enacted by legislationC. are part of the Arizona Revised StatutesD. are part of statutory real estate law

• have the force and effect of the law on licensees

Each day, property manager Q manages five properties and receives an apartment in one of the properties free of

charge from the owner. Q:A. has to have a real estate

licenseB. has to be a Certified Property ManagerC. does not need a real estate licenseD. cannot receive a free apartment because it is against the Rules & Regs

• has to have a real estate license

Which of the following is NOT required for a broker's license in Arizona?A. 90 hours of educationB. 90 days of residencyC. Passing an examinationD. Minimum age

• 90 days of residency

What clarifies ADRE's position on statutes or rules?A.Substantive Policy StatementsB. Arizona Revised StatutesC. Arizona Administrative CodeD. Case law

• Substantive Policy Statements

An active salesperson's license:A. authorizes the

salesperson to transact business in any broker's officeB.must be available for review by the publicC. remains in the broker's possession if the broker's license is cancelledD. is good for only one calendar year at a time

• must be available for review by the public

The basic purpose of real estate laws and regulations is

to:A. protect the broker and salespeopleB. protect the

publicC. control the broker and salespeopleD. protect the escrow

• protect the public