AZ Licensing Law Flashcards
All of the following are approved categories for continuing education classes EXCEPT:
a. Commissioner’s Standards
b. Agency Law
c. Self-Improvement
d. Disclosure
c. Self-Improvement
Correct! Self-development or motivational classes are not approved for continuing education.
After issue, a real estate license is required to be renewed every two years
a. On the last day of the month of issue
b. At the beginning of the month of issue
c. On your birthday
d. Two years from the date issued
a. On the last day of the month of issue
Correct! A salesperson’s or broker’s license expires 2 years from on the last day of the month the license was issued
Which of the following is NOT required for a sales license in Arizona?
a. 90 hours of education
b. Pass the state examination
c. 90 days residency
d. Minimum age
c. 90 days residency
Correct! A licensed real estate salesperson does not need to be a resident of the state of Arizona but does need to be 18 years of age
In Arizona, the person who is exempt from the real estate licensing law is a:
a. person handling leases only
b. person selling custom-built homes
c. person who sells subdivision lots.
d. trustee in bankruptcy
d. trustee in bankruptcy
Correct! A trustee in bankruptcy is a person acting under a court order and is specifically exempt from the licensing law.
A temporary broker’s license:
a. issued for 180-day period
b. may be issued only to a licensed salesperson or broker to wind up the affairs
c. does not have all the obligations of the permanent broker.
d. has the same powers as a permanent broker’s license.
d. has the same powers as a permanent broker’s license.
Correct! The Commissioner may issue a temporary license as a broker to a licensed or unlicensed person for the purpose of winding up the existing or pending business of a licensed broker. Each temporary license is for a period of not over 90-days and the temporary licensee has the same license powers and obligations as under a permanent license.
Engaging in the sale of real estate when a license is required but in fact acting without a license is:
a. A class six felony that can result in a fine and/or imprisonment
b. Subject to action by the Real Estate Advisory Board.
c. A misdemeanor
d. Not subject to action by the Real Estate Commissioner since the party is not licensed.
a. A class six felony that can result in a fine and/or imprisonment
A subdivider-broker employs hostesses to show model homes and spec houses:
a. do not need a license because the subdivider is a licensed broker
b. do not need a license if they do not accept deposits.
c. do not need a license because they are employees
d. must be licensed
d. must be licensed
A sales licensee can receive compensation from:
a. the buyer
b. the seller.
c. listing broker
d. employing broker
d. employing broker
Correct! A sales licensee can only receive compensation from his or her employing broker.
Which of the following persons must have a real estate license with a broker in order to transact business?
Select one:
a. Darlene, superintendent of a large apartment building, who shows apartments to prospective tenants as part of her regular duties.
b. Nadine negotiates the sale of businesses for others, including their stock, equipment, and buildings.
c. William, who has a power of attorney from his father to negotiate the sale of and convey a residence owned by his father.
d. Jack owns a six-unit apartment and personally manages the building, collects rent and shows the apartments to his prospective tenants.
b. Nadine negotiates the sale of businesses for others, including their stock, equipment, and buildings.
Correct! The negotiation of the sale of a business for others, especially when the business includes real estate is an activity that requires licensure as a real estate salesperson. The other answer choices are all activities that do not require licensing.
After successfully passing the state examination, a license candidate must activate his or her real estate license within:
a. any time
b. one year
c. ninety days
d. six month
b. one year
Correct! Any person who has passed the state examination for the broker or salesperson must become licensed within one year from the date of the examination.
An unlicensed secretary in a real estate office can:
a. Type offers to purchase
b. Solicit listings by phone
c. Quote prices on the phone
d. Collect rents for the brokers clients.
a. Type offers to purchase
The number of continuing education hours needed by a salesperson for the renewal of their license is:
a. 18
b. 12
c. 30
d. 24
d. 24
Correct! Arizona requirements for licensing renewal provide for 24 hours of continuing education for each two-year renewal period.
All of the following are TRUE, EXCEPT:
a. The word REALTOR is a registered trademark
b. The NAR Code of Ethics and Standards of Practice is divided into three parts
c. The NAR is dedicated to the protection of the free enterprise system
d. All licensed brokers and salespersons must join a local Association of REALTORS
d. All licensed brokers and salespersons must join a local Association of REALTORS
