Arizona Real Estate License Cheat Sheet 2026

The 30 highest-yield Arizona Real Estate License facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. A complaint of housing discrimination under the federal Fair Housing Act generally must be filed with HUD within: → One year
2. The federal law requiring lenders to disclose the annual percentage rate (APR) and finance charges is the: → Truth in Lending Act (TILA)
3. Steering a buyer toward or away from neighborhoods based on protected class is: → A fair housing violation
4. Under A.R.S. §32-2155, an Arizona salesperson may lawfully collect compensation for a real estate transaction from whom? → Only their employing broker
5. In Arizona, how long does a buyer have to rescind a purchase contract for a subdivision lot after receiving the Public Report? → 7 calendar days
6. Which element is NOT required for a valid real estate contract in Arizona? → A licensed attorney's review
7. A key benefit of a VA loan for eligible veterans is: → Often no down payment required
8. Which clause in a mortgage allows the lender to declare the entire balance due after default? → Acceleration clause
9. A landlord refuses to allow a tenant with a disability to install a wheelchair ramp at the tenant's expense. This likely violates the requirement to allow: → A reasonable modification
10. Under Arizona law, which disclosure is mandatory for the sale of residential property built before 1978? → Lead-based paint disclosure
11. When a party fails to perform a material obligation without legal excuse, the party has committed a: → Breach of contract
12. A real estate licensee in Arizona should recommend a water rights attorney when: → A transaction involves complex or disputed water rights
13. Under Arizona law, when a listing expires, an exclusive-right-to-sell agreement generally does what? → Terminates on the stated date
14. What type of listing gives one broker the exclusive right to earn a commission regardless of who sells the property? → Exclusive right to sell
15. In Arizona, which of the following is a requirement for a real estate licensee to legally act as a dual agent in a transaction? → Both buyer and seller must give their prior informed written consent.
16. A pre-agreed sum specified in a contract as damages for breach is known as: → Liquidated damages
17. If both parties mutually agree to terminate a contract and return to their pre-contract positions, this is called: → Rescission
18. Which entity purchases mortgages on the secondary market to provide lenders with liquidity? → Fannie Mae
19. Who must a salesperson's license be held by to be active in Arizona? → A designated employing broker
20. Which of the following is a "material fact" Arizona courts have said must be disclosed? → A known structural or roof defect affecting value
21. What is the statutory penalty exposure for practicing real estate in Arizona without a license? → A class 1 misdemeanor
22. During a shortage on the Colorado River, Arizona's CAP allocation is generally: → Junior to California's priority
23. Which type of loan features a fixed interest rate for an initial period that then adjusts periodically based on a market index? → Hybrid adjustable-rate mortgage
24. Which entity has the authority to adjudicate surface water rights disputes in Arizona? → The Arizona Superior Court through a general stream adjudication
25. In Arizona, a listing agreement between a seller and broker is primarily a type of: → Employment/agency contract
26. A seller's failure to disclose a known material latent defect in Arizona can expose the seller to: → Liability for misrepresentation or fraud
27. How often must Arizona real estate licensees complete continuing education to renew their license? → Every 2 years, 24 hours of CE
28. In an appraisal, physical, functional, and external are the three types of: → Depreciation
29. What legal doctrine may provide a trespasser the right to legally own your property? → Adverse possession
30. Which federal law prohibits discrimination in housing based on familial status? → Fair Housing Act of 1968 as amended in 1988