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Real Estate Statutes > ADRE/ARS Title 32 Ch20-Art1-2 > Flashcards

ADRE/ARS Title 32 Ch20-Art1-2 Flashcards

1
Q

After the seller has accepted the offer, the salesperson must immediately deliver a copy of the signed agreement to the:

a. employing broker

b. buyer
c. listing broker
d. lending institution

A

B Buyer

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2
Q

As the salesperson is about to present an offer to the seller, another offer for the same house comes into the office. The agent should submit the:

a. offer that would net the seller the most money

b. offer with the most commission

c. second offer after the first offer has been acted on

d. second offer at the same time

A

D. 2nd offer at the same time

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3
Q

Broker Q receives two bona fide offers. The first offer is from one of her salepeople, and the other offer is from another broker. Which offer should Q present?

a. Q’s salespersons offer only

the cooperating broker’s offer only

c. the highest offer
d. both offers

A

d. both offers

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4
Q

When a salesperson advertises on a website, the:

a. employing broker’s name need to appear only on the homepage

b. “ ” must appear on all web pages

c. franchise name, if applicable, must appear only on the homepage

d. employing brkrs name does not need to be advertised

A

B. emp brokers name must

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5
Q

If a salesperson uses the word “acre” in an ad, it must refer to how many square feet?

a 42650

b. 43560

c. 44530

d 45360

A

B 43560 sq ft

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6
Q

According to the AZ Commissioner’s Rules, all are true EXCEPT:

a. an ad for another broker’s listing must display the listing broker’s name

b. all ads must include the employing broker’s name in some manner

c. when a licensee is marketing his own property for sale or lease, the ad must include the words “owner agent”

d. licensees must have an owner’s written permission to place a sign on a prop

A

B.

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7
Q

In which situation would a licensee NOT need to include the wording “owner-agent” in advertising?

a. property is owned by the designated broker but listed by a salesperson

b. poperty is owned by an associate broker who is offering it for rent without listing it w/ his company

c. a commercial prop is owned by a licensed salesperson who lists it w/ her designated broker

d. prperty is owned by a licensed salsperson and listed by another company

A

D. the prop is owned by a licensed salesperson and listed by another co.

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8
Q

Which of the following statements would relate to a blind ad?

a. brokerage house ad that has no address

b. ad that does not state who the owner is

c. ad that doesn’t indicate it’s listed by a brokerage

d. when a licensee acting as a “For Sale by Owner” fails to list owner-agent in the ad

A

C.

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9
Q

Which of the following would not be considered a misrepresentation in advertising?

a. altering a photo of a property to eliminate negative features surrounding it

b. describing the property in terms that overstated its charm and luxury

c. copying incorrect property info from an expired listing to a new listing of the porperty

d. indicating the prop is zoned for business purposes when it is only partially zoned for business

A

B.

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10
Q

If a salesperson is advertising another company’s listings on the salesperson’s website:

a. ADRE req the saleperson to obtain the listing brkers permission

b the ad must include the listing co’s name in a clear and prominent manner

c. the salesperson myst be a member of the MLS

d. the ad does not have to include the name of the salespersons co.

A

B. ad must include the listing co’s name in a clear and prominent manner

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11
Q

Which of the following statements is TRUE:

a. A buyer’s agent may offer unlicensed buyer-clients a premium such as a big screen TV if they purchase a home

b. To encourage sellers to list w/ him, a licensee may give potential sellers an opportunity to win a cruise in an annual drawing

c. Broker may give an Amazon gift card to unlicensed former clients who refer friends to the broker

d. a subdivision developer may conduct a lottery to solicit potential buyers without obtaining permission from ADRE

A

A.

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12
Q

The RE Commissioner’s Rules:

a. have the force and effect of the law on licensees

b. are enacted by legislation

c. are part of the ARS

d. are part of the statutory real estate law

A

A.

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13
Q

A salesperson is offering a free gift cert as part of a marketing plan. According to Commissioner’s Rules, which of the following would NOT be required to be disclosed in the ad?

a. date the offer expires

b. terms and conditions

c. name of the specific store

d. specific restrictions

A

C.

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14
Q

If a verbal offer is made by a buyer:

a. the listing agent must inform the seller but may not counsel the seller how to respond

b. the listing agent may refuse the offer

c. the seller should be informed and then instruct the agent how to respond

d. the buyer’s agent is violating Commissioner’s Rules by tendering a verbal offer

A

C.

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15
Q

The rules of the Real Estate Commissioner:

a. are in the AZ Constitution

b. are part of the AZ Administrative Code

c. are statutory

d. are irrelevant to licensees w/ inactive licenses

A

B.

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16
Q

Regarding advertising of real estate trade names and franchise names, which is TRUE:

a. each (trade name or franchise) office is independently owned and operated, or a similar legend approved by the Commissioner, must be included in a manner to attract the attn of the public

b. The franchise name may be omitted, but the brokerage name myst appear in the ad

c. The trade name may be omitted

d. The brokerage name may be omitted if there is only one franchise in the area

A

A.

17
Q

If a newly licensed salesperson is asked by a friend to list the friend’s commercial prop, what must occur?

a. the salesperson must disclose their lack of expertise

b. broker must transfer the listing to another licensee

c. broker must assign a mentor to work w/ the newb

d. salesperson can’t take the listing

A

A.

18
Q

What clarifies ADRE’s position on statutes or rules?

a. substantive Policy Statements

b. Arizona Revised Statutes

c. Arizona Administrative Code

d. Case Law

A

A. Substantive Policy Statement

19
Q

Which of the following complaints against a license complaints against a licensee would the Arizona Dept of Real Estate investigate?

a. landlord-tenant disputes

b. homeowners’ assoc disputes

c. ethics complaints

d. trust account complaints

A

D. Trust account complaints

20
Q

which of the following organizations represents the licensee

A
21
Q

which of the following organizations represents the licensee

a. the AZ Attorney General’s Office

b. the ADRE

c. The Federal Reserve Board

d. The National Assocation of Realtors

A

D. National Assoc of Realtors

22
Q

The Real Estate Commissioner is appointed by the

a. governor

b. legislature

c. board of realtors

d. senate only

A

A. governor

23
Q

A salesperson is legally allowed to:

a. adertise the property for sale in the salespersons name

b. act as agent for another seller

c. close a pending transaction

d. accept a listing on behalf of the broker

A

D. accept a listing on behalf of the broker

24
Q

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 represent

b. charging a flat fee for negotiating an offer for a buyer the licensee represents

c. acting as a paid facilitator between parties to a lease

d. completing contracts between an unrepresented byer and FSBO seller for a commission

A

a. preparing purchase contracts for buyers and sellers whom the licensee does not represent

25
Q

Which of the following is true? The Arizona Department of Real Estate:

a. audits broker’s trust accounts

b. enforces the AZ Residential Landlord and Tenant Act

c. investigates fair housing violations

d. enforces commission disputes between broker

A

A.

26
Q

An active salesperson’s license:

a. authorizes the salesperson to transact business in any broker’s office

b. must be available for review by the public

c. remains in the broker’s possession if the broker’s license is cancelled

d. is good for only one calendar year at a time

A

B.

27
Q

Each day, prop manager Q manages five different properties and receives an apartment in on e of the prop free of charge from the owner. Q:

a. has to have a RE license

b. has to be a Cert Prop Mgr

c. does not need a real estate license

d. cannot receive a free apt because it is against the Rules and Regs

A

A.

28
Q

Which of the following persons needs to have a real estate license?

a. a person selling their own timeshare

b. an attorney marketing real estate

c. the manager of one residential property

d. a referee in a bankruptcy

A

B.

29
Q

MEMORIZE ME!!! REAL ESTATE COMMISSIONER’S DUTIES

RE Commissioner’s duties (Remember PIMA)

P - Promulgate rules

I - Investigate licensees

M - Manage ADRE

A - Audit books/records

A

What is P.I.M.A?

or What are the RE Commissioners duties

30
Q

Who is responsible for formulating the Rules and Regulations in AZ?

a. state legislature

b. advisory board

c. RE Commissioner

d. Attorney General

A

C

31
Q

An AZ RE licensee may not charge for document preparation according to:

a. statue of frauds

b. commissioners rules

c. sherman antitrust act

d. AZ Constitution Article 26

A

D

32
Q

MEMORIZE ME!!! REAL ESTATE ADVISORY BOARD

Real Estate Advisory Board is made up of 10 members

  • 2 Real Estate Brokers
  • 2 subdividers
  • 3 persons engaged in residential real estate for the last 5 years, one of who must be involved in multi-family residential property management
  • 3 public members

Members are appointed by the Governor and MEET QUARTERLY

Members receive NO COMPENSATION

A

Advisory Board 10 members

Don’t receive compensation

Appointed by Governor, Meet Quarterly

33
Q

A branch office must office:

a. at managing broker

b. at least 5 salespeople

c. Be managed by someone with 3 years experience

d. A manager who can be a salesperson or a broker

A

D.

34
Q

which of the following organizations represents the licensee

A

Real Estate Statutes (6 decks)

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