Arizona Real Estate Salesperson Exam — All Questions

In Arizona, before a licensee begins representing a party in a transaction, the licensee must provide the consumer with the:

• a.Real Estate Agency Disclosure and Election form✓
• b.HUD-1 settlement statement
• c.Affidavit of Disclosure
• d.Public Report

Arizona requires licensees to give consumers a written agency disclosure explaining representation options so the consumer can make an informed election about who represents them. The Public Report concerns subdivided land, the Affidavit of Disclosure covers certain rural parcels, and settlement statements are provided at closing, not at the start of representation.

An Arizona broker represents both the buyer and the seller in the same transaction. This limited dual representation is permitted only when the broker:

• a.Notifies only the seller since the seller pays the commission
• b.Obtains the informed written consent of both parties✓
• c.Keeps the arrangement confidential from both parties
• d.Represents the buyer's interests above the seller's

Arizona allows limited dual (or designated) representation only with the informed written consent of both the buyer and the seller. A dual agent must remain neutral and cannot advocate for one party over the other or hide the conflict, since both principals are owed honesty and fair dealing.

A.A.C. R4-28-1101(A) states an Arizona licensee's core duties. Which pairing is correct?

• a.Fiduciary duty to the client, fair dealing with others✓
• b.Fiduciary duty owed equally to all parties
• c.Fair dealing with everyone, fiduciary duty to no one
• d.Fiduciary duty to the client and the employing broker only

A licensee owes a fiduciary duty to the client and shall protect and promote the client's interests; the licensee shall also deal fairly with all other parties to the transaction. The two duties are different in kind, and the duty of fair dealing runs to everyone else in the deal, not only to the licensee's own side. Cite: A.A.C. R4-28-1101(A).

An Arizona licensee wants to represent both the buyer and the seller in one transaction. What is required?

• a.Oral consent from both parties before the offer is written
• b.Written consent from the seller, who holds the listing
• c.Prior written consent of all parties to the transaction✓
• d.Notice to the designated broker, who decides

A licensee shall not accept compensation from or represent more than one party to a transaction without the prior written consent of all parties. Acting for more than one party without the knowledge or written consent of all is also an independent ground for the Commissioner to suspend or revoke a license. Cite: A.A.C. R4-28-1101(F); A.R.S. § 32-2153(A)(2).

An Arizona salesperson writes an offer on a listed home for the salesperson's own spouse. When must that relationship be disclosed?

• a.At closing, in the settlement statement
• b.In writing before the parties enter a binding agreement✓
• c.Only if the seller asks about the buyer's identity
• d.In writing within ten days after acceptance

A licensee shall not act directly or indirectly in a transaction without informing the other parties, in writing and before the parties enter any binding agreement, of a present or prospective interest or conflict. The listed conflicts include the licensee acting as a principal, the buyer or seller being a member of the licensee's or designated broker's immediate family, and any financial interest beyond the licensee's compensation. Cite: A.A.C. R4-28-1101(E).

When may an Arizona licensee contact a principal who is already represented by another licensee?

• a.At any time, so long as the contact is informational
• b.Any time after a written offer has been submitted
• c.Only with the designated broker's written consent
• d.After the other side is unavailable for 24 hours✓

A licensee may not contact a principal represented by another licensee unless that principal's designated broker, a broker representative with delegated authority, and the licensee are all unavailable for 24 hours. A principal may waive or alter the requirement by issuing written instructions. Cite: A.A.C. R4-28-1102(A).

When must an Arizona broker disclose in writing which employing brokers will be compensated from a transaction?

• a.At least three calendar days before closing✓
• b.At least three business days before closing
• c.At the time the purchase contract is executed
• d.Within three days after closing

A real estate broker shall disclose to all parties in a transaction, in writing at least three calendar days before closing, the name of each employing broker who represents a party and who will receive compensation from the transaction. The rule counts calendar days, so weekends and holidays are included in the three. Cite: A.A.C. R4-28-701.

An Arizona buyer asks to move into the property a week before closing. What does the professional conduct rule require?

• a.The listing broker's written approval
• b.Nothing, if the purchase contract is signed
• c.Express instruction from the property's owner✓
• d.Approval by the escrow company

A licensee shall not deliver possession prior to closing unless expressly instructed to do so by the owner of the property or property interest being transferred, and shall not permit or facilitate access or occupancy without prior written authorization from the owner. The licensee must also recommend the client seek insurance, legal, tax and accounting counsel about the risks of pre-possession or post-possession. Cite: A.A.C. R4-28-1101(J), (K).

Which statement about broker supervision under the Arizona Commissioner's Rules is correct?

• a.A designated broker may delegate overall supervisory responsibility away
• b.An employing broker is responsible for the acts of its licensees✓
• c.Supervision duties end once a transaction closes
• d.Written policies are recommended but not required

An employing broker is responsible for the acts of all licensees and other employees acting within the scope of their employment. A designated broker may use employees to help administer supervision but may not relinquish overall responsibility, and reasonable supervision requires written policies, procedures and systems, including a progressive disciplinary policy. Cite: A.A.C. R4-28-1103(A), (B), (D), (E).