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AZ Real Estate Study Cards

  1. An individual can be referred to as a REALTOR when they:
    join the National Association of REALTORS
  2. Hou many hours of continuing education must a licensee take every two years in order to renew their sales license?
    24 hours
  3. To get an Arizona license, the candidate must have been an Arizona resident for:
    no residency requirement
  4. Permanent additions to land which are man-made are called:
    improvements
  5. Physical characteristics of real estate include:
    • Immobility (real estate has a fixed location)
    •  Indestructibility (land is durable)
    • Nonhomogeneity (no two parcels are alike - heterogeneity)
  6. Economic Characteristics of real eastate include:
    • Scarcity (lack of land in a given area suitable for desired development)
    • Improvements (after made, will notice an economic ripple affect)
    • Fixed investments (investment in real estate must include long range planning)
    • Situs (considered most important - area preference - peoples choice of a give area)
  7. Real property can become personal property by
    severance
  8. When a salesperson's license is activated (hung) with ADRE
    they cannot sell or list property
  9. Emblements are
    annual crops
  10. The nonhomogeneity of land:
    results from the uniqueness of every parcel or real estate
  11. Which would not be considered as a test of a fixture?
    manner of attachment
    value of the article
    relationship of the object to parties of the property
    intent of the parties
    value of the article
  12. Which is classified as real property?
    chattels
    emblements
    trade fixtures
    fixtures
    fixtures
  13. Which of the following would be considered a fixture?
    free standing stove
    plants on the patio in pots
    annual crops
    storage shed attached to a slab
    storage shed attached to a slab
  14. Trade Fixture
    personal property owened by a tenant for use in a trade or business
  15. Annexation
    Addition ot property by act of joining one thing to another
  16. Fixture
    personal property affixed to the land
  17. Hereditament
    anything capable of being inherited
  18. Appurtenant
    Right, privilege and improvements that belongs to the land
  19. Asset
    something of value
  20. Chattel
    property that is moveable
  21. Emblements
    growing crops
  22. Situs
    personal preference for a given area
  23. Code of Ethics
    subscribe to this by joining the National Association of REALTORS
  24. Corporeal
    tangible asset
  25. Real Estate
    land and improvements attached by man
  26. Ethics
    moral principals, rules and standards of conduct
  27. Nonhomogeneic
    the fact that all properties are unique
  28. Severance
    changes real property to personal property
  29. Personal Property
    things that are tangible and moveable
  30. Real Property
    everything of a permanent nature attached to soil
Author
Anonymous
ID
170763
Card Set
AZ Real Estate Study Cards
Description
to help me study for the AZ Real Estate Test
Updated

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