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Arizona Real Estate License Law Quiz

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Questions and Answers

What is required to obtain a Salesperson License in Arizona?

Attending a real estate seminar, passing the state exam, and obtaining a letter of recommendation

Completion of pre-licensing education, passing the state exam, and sponsorship by a licensed broker (correct)

Completion of pre-licensing education, passing the broker exam, and having a real estate license in another state

Passing the state exam, having at least 5 years of experience, and sponsorship by a licensed broker

How many hours of continuing education are required every two years for license renewal in Arizona?

24 hours (correct)

36 hours

12 hours

48 hours

When must licenses be renewed to avoid expiration in Arizona?

By the end of the calendar year following issuance

Within 30 days after the expiration date

By the last day of the licensee's birth month (correct)

By December 31st of each year

What is the late renewal fee if renewing within 30 days after the expiration date in Arizona?

$50 Signup and view all the answers

What are licensees prohibited from doing in their advertising according to Arizona Real Estate License Law?

Making false or misleading statements Signup and view all the answers

Where must earnest money be held according to Trust Account Rules for Handling in Arizona?

In a separate trust or escrow account distinct from the broker's personal or business accounts Signup and view all the answers

What is the maximum time period for resolving disputes regarding earnest money?

90 days Signup and view all the answers

Which form of ownership includes condominiums, time-shares, and planned communities?

Leasehold Forms Signup and view all the answers

What type of deeds protect against defects during the seller's ownership period?

Special Warranty Deeds Signup and view all the answers

Which government body regulates zoning and land use at the county level?

Counties Signup and view all the answers

What do building rating systems like ENERGY STAR and LEED evaluate?

Energy Efficiency Signup and view all the answers

What type of interest rates provide a constant interest rate throughout the loan term?

Fixed Rates Signup and view all the answers

Energy efficient building design may result in:

Increased Initial Costs but long-term energy savings Signup and view all the answers