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ARIZONA REAL ESTATE EXAM NEWEST
ACTUAL EXAM COMPLETE 300 QUESTIONS
AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+
Question: Arizona property taxes are based on:
ANSWER: Assessed value
Question: The tax rate applied to owner-occupied residential
property is:
ANSWER: 10 %
Question: What lien has priority first:
ANSWER: Property taxes
Question: Property taxes become a lien the first day of:
ANSWER: January
Question: If a property is not bid at a tax foreclosure sale:
ANSWER: Anyone can later buy the tax lien from the Treasurer
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Question: Rank the following in order: IRS lien, Property Taxes, Special Assessments
ANSWER: Property Taxes, Special Assessments, IRS Liens
Question: When a broker misappropriates funds, this is called:
ANSWER: Conversion
Question: What type of property would have the highest tax
rate:
ANSWER: Shopping center [Note: Commercial properties typically have higher tax rates than residential in Arizona.]
Question: What is the priority of property tax liens:
ANSWER: Always in first position
Question: When are the first half property taxes delinquent:
ANSWER: November 1
Question: The two designations or classifications of water law in
Arizona are:
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ANSWER: Ground and surface [Corrected from "Ground the
surface" for clarity.]
Question: Taxes are assessed on:
ANSWER: Value of the property
Question: The doctrine of water usage in Arizona is known as:
ANSWER: Prior appropriation
Question: Water rights in Arizona are:
ANSWER: First in time, first in right
Question: In Arizona, property taxes are payable:
ANSWER: Twice a year
Question: When a party owns land on a non-navigable stream, it
is said they hold title to:
ANSWER: Lower water mark
Question: When the county assessor evaluates real estate for the
purpose of taxation, this is called:
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ANSWER: Assessed value
Question: Real estate taxes are levied in Arizona:
ANSWER: Once a year
Question: Second half real estate taxes are due:
ANSWER: March 1st
Question: Once a homeowner's association establishes the
assessments, they are paid:
ANSWER: Annually based on the homeowner's association's
budget
Question: What is paid first after a foreclosure:
ANSWER: Property taxes
Question: At the end of the three-year tax redemption period, a
person who holds the certificate purchase:
ANSWER: May extend the period [Note: In Arizona, the holder can apply for a treasurer’s deed if not redeemed, but extension is an option.]