Exam Prep Ques

Question 1

A broker, acting as a property manager, would be what type of agent?

a. special
b. general
c. implied
d. ostensible

Answer 1

B.

Question 2

A buyer pats 20% down and obtains a real estate mortgage. The buyer makes no further payments. What clause would the lender now exercise?

A. Alienation

b. Habendum
c. Novation
d. Acceleration

Answer 2

D.

Question 3

• *A holdover tenant would have a:**
• *A. estate at sufferance**
• *b. estate at will**
• *c. freehold estate**
• *d. remainder estate**

Answer 3

A. estate at sufferance

Question 4

To finance the infrastructure for a subdivision development, AZ law allows the formation of:

a. homeowner’s assoc

b. community facilities districts

c. planned communities

d. planned unit developments

Answer 4

B. community facilities districts

Question 5

A right of way over Parcel A to Parcel B identifies Parcel B as the:

a. servient tenement

b. dominant tenement

c. appurtenant estate

d. encroachment estate

Answer 5

B. dominant tenement