B2-B9 Flashcards Preview

AZ Real Estate (ASREB) 5/2017 > B2-B9 > Flashcards

Flashcards in B2-B9 Deck (23)
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1

A real estate broker is normally what type of agent?

Special

2

A broker's duty to a third party would be?

Honesty

3

A broker is a property manager for an owner and collects the monthly rents. The owner dies. What is the status of the property management agreement?

Terminated upon death of owner.

4

Before the close of escrow the building is destroyed by fire. Is the commission due?

No commission is payable.

5

An offer is made and accepted by telephone. The contract is?

Unenforceable

6

A broker is asked to list a property that is in violation of the local zoning ordinances. He should?

Refuse the listing

7

The Market Data approach in appraising would refer to....

Substitution

8

When buying rental property it would most likely be appraised using what approach?

Income approach

9

An old home in an area of new home development would be appraised using what approach?

Cost

10

What does the gross rent multiplier indicate?

A factor of rents to price

11

In a correctional township, fractional sections are:

North and West

12

Who coordinates and supervises the activities to close escrow?

The broker

13

On a settlement sheet, what is usually true?

The buyer is credited unpaid taxes

14

While a transaction is in escrow a problem develops, and the matter is turned over to court. This would be considered:

Interpleader

15

What does a seller usually pay for at closing?

Deed preparation

16

When a person buys a time-share, what type of ownership exists?

Interval

17

Environmental concerns that deal with small particles in the air would be?

Asbestos

18

What connects the studs at the top and bottom?

Top and sole plate

19

The overhang partition of a roof is called?

Eave

20

The horizontal members that support the floor are called...?

Joists

21

The section of lumber that supports the roofing material is called?

Truss

22

HOA fees are paid?

Pro rata share

23

When a land is purchased interstate, how long would a buyer have to rescind under the Federal Interstate Land Full Disclosure Act?

Within 7 days of receiving a property report