Real Estate Statutes Flashcards
The “Mrs. Murphy” exemption describes the fair housing exemption that applies to:
A: Large multi- family units of two or more stories
B: Owner- occupied dwellings of four or fewer units
C: Religious organizations
D: Private Clubs
B: Owner- occupied dwellings of four or fewer units
All of the following statements regarding Arizona real estate advertising law are true and correct except:
A: All details of an offer of a premium must be disclosed in writing before the offeree participates in the offer
B: An offeree must see, in written form, all details associated with an offer of a premium before he/ she participates in the offer
C: It is illegal to offer a premium as an enticement
D: Any offer of a “free gift” made in connection with a sales promotion must be without conditions
C: It is illegal to offer a premium as an enticement
A net listing is based on:
A: The net price the seller will receive if the property is sold
B: The brokers annual net income
C: The size of the net used to procure the buyer
D: The overall salability of the property
A: The net price the seller will receive if the property is sold
Every real estate licensee, whether the license is active or inactive, shall have available for the licensee’s use:
A: A current copy of the departments statutes, rules, and annotations pertaining to real estate laws (commonly called the Arizona department of real estate law book)
B: a current copy of the realtors code of ethics
C: a full set of the Arizona revised statutes
D: a blank set of realtors purchase contract and receipt forms
A: A current copy of the departments statutes, rules, and annotations pertaining to real estate laws (commonly called the Arizona department of real estate law book)
The principal purpose of a public report on both subdivided and un-subdivided lands is:
A: To provide potential buyers with various material facts related to the lands
B: all answers are correct
C: to provide salespeople with details about the lands in order that they may be more informative
D: So the real estate department will have a record of all such lands in the state
A: To provide potential buyers with various material facts related to the lands
When the court orders property to be sold as a result of a judgment it is called:
A: Laches
B: Execution
C: Attachment
D: Redemption
B: Execution
The law in the State of Arizona that provides that contracts for the sale of real estate or an interest in real estate are unenforceable unless they are in writing is the _____.
A: Arizona Statute of Limitations
B: Arizona Statute of Frauds
C: Arizona Statute of Real Estate
D: Arizona Statute of Honesty
B: Arizona Statute of Frauds
The developer of a timeshare property must give each prospective purchaser a copy of:
A: The deed to each share purchased
B: The public report unless the purchaser cancels
C: The Public Report on a timeshare property
D: The application for public report
C: The Public Report on a timeshare property
When any incentive is offered to visit any place where a sales presentation for a development is to be made, the developer shall disclose in writing all conditions, limitations, or recipient qualifications that will be applied:
A: When the recipient arrives at the presentation site
B: Before the presentation ends
C: Before the recipient makes the trip
D: Before the sales presentation begins
B: Before the presentation ends
The real estate advisory board is appointed by the:
A: Attorney General
B: Commissioner
C: Governor
D: Public Election
C: Governor
The Arizona Fair Housing Act is enforced by:
A: The Arizona Department of Real Estate
B: The Arizona Attorney General
C: The US Attorney based in Arizona
D: The Governors Office of Discrimination
B: The Arizona Attorney General
