Arizona Real Estate Broker Exam — All Questions

Arizona real estate brokers are licensed and regulated under ARS Title 32, Chapter 20 by the:

• a.Arizona Corporation Commission
• b.Arizona Association of Realtors
• c.Arizona Department of Real Estate (ADRE), headed by the Real Estate Commissioner✓
• d.Arizona Registrar of Contractors

The Arizona Department of Real Estate (ADRE), led by the Real Estate Commissioner, administers ARS Title 32, Chapter 20 and the Commissioner's Rules. The Corporation Commission handles securities and business entities, and the Registrar of Contractors handles contractors, so neither regulates real estate licensees.

Under ARS Title 32, before offering an unimproved subdivided or unsubdivided lot in Arizona, a developer generally must obtain from the Commissioner a:

• a.Public Report disclosing material facts, which the buyer must receive✓
• b.Certificate of Occupancy from ADRE
• c.Broker Management Clinic certificate
• d.Notice of Value from the county assessor

Arizona requires a developer of subdivided or unsubdivided land to obtain a Public Report from the Commissioner and deliver it to buyers before or at the time of sale. The Public Report discloses material facts about the property. It is unrelated to occupancy certificates, the Broker Management Clinic, or county valuation notices.

Which statement about Arizona real estate license renewal and education is correct?

• a.Licenses never expire once issued
• b.Arizona has no continuing education requirement
• c.Only salespersons must renew; brokers are exempt
• d.Licenses are renewed on a two-year cycle and require ADRE-approved continuing education✓

Arizona real estate licenses are issued for two years and require completion of ADRE-approved continuing education (including mandatory subject areas) before renewal. Both brokers and salespersons must renew and meet CE requirements. Keeping licensees current on Arizona law is a purpose of the CE requirement.