Arizona License LawIntermediateArizona Exam
What is the purpose of the Arizona Real Estate Recovery Fund?
ATo fund ADRE's operating budget
BTo compensate injured parties who cannot collect a judgment from a licenseeCorrect
CTo provide loans to first-time homebuyers
DTo pay for continuing education programs
Why To compensate injured parties who cannot collect a judgment from a licensee Is Correct
Answer B: To compensate injured parties who cannot collect a judgment from a licensee
The Arizona Real Estate Recovery Fund compensates members of the public who have suffered financial harm due to a licensee's fraudulent or dishonest acts and are unable to collect on a court judgment.
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Key Terms to Know
State-Specific Concepts
Continuing EducationDRE Regulation
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