Unlock your success in Oregon's real estate market with our meticulously crafted Q&A package. Tailored specifically for aspiring real estate professionals, this comprehensive resource is designed to prepare you thoroughly for the Oregon real estate licensing examination.
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Range Lines North to south lines in a rectangular gov't survey Township Lines East to west lines in the rectangular gov't survey If a seller doesn't provide the buyer with property condition disclosures, up until when can the buyer cancel the transaction? Any time prior to closing. If a ...
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Add to cartRange Lines North to south lines in a rectangular gov't survey Township Lines East to west lines in the rectangular gov't survey If a seller doesn't provide the buyer with property condition disclosures, up until when can the buyer cancel the transaction? Any time prior to closing. If a ...
Oregon Real Estate (State) Agency The Oregon Real Estate Agency is a state government agency. It licenses real estate brokers, principal brokers and property managers. The Agency administers the laws and rules that apply to people who conduct professional real estate activity in Oregon. Inactive ...
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Add to cartOregon Real Estate (State) Agency The Oregon Real Estate Agency is a state government agency. It licenses real estate brokers, principal brokers and property managers. The Agency administers the laws and rules that apply to people who conduct professional real estate activity in Oregon. Inactive ...
A person can work as a secretary in a real estate office without obtaining a real estate license. That secretary can legally perform this following function. - Verify the accuracy of listing info supplied by a broker by checking the records at the county tax office A licensee is required to conduc...
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Add to cartA person can work as a secretary in a real estate office without obtaining a real estate license. That secretary can legally perform this following function. - Verify the accuracy of listing info supplied by a broker by checking the records at the county tax office A licensee is required to conduc...
How long does a buyer have to revoke their offer after receiving a seller's property disclosure statement? 5 business days When must the seller's disclosure be sent? Once the seller receives a written offer to purchase from a buyer What is the first thing to consider when gathering leads? Qu...
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Add to cartHow long does a buyer have to revoke their offer after receiving a seller's property disclosure statement? 5 business days When must the seller's disclosure be sent? Once the seller receives a written offer to purchase from a buyer What is the first thing to consider when gathering leads? Qu...
Which of the following is NOT considered "Middle Housing" A) Cottage Cluster B) Townhouses C) Large multifamily homes D) Condo'sLarge Multi-family residences Which of the following documents do not need signatures for both buyer and seller? A) Final Agency Agreement B) Title Report...
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Add to cartWhich of the following is NOT considered "Middle Housing" A) Cottage Cluster B) Townhouses C) Large multifamily homes D) Condo'sLarge Multi-family residences Which of the following documents do not need signatures for both buyer and seller? A) Final Agency Agreement B) Title Report...
What is a tax allocation district? A district where property is charged a higher property tax in order to build infrastructure for that area Which of the following is a factor that affects accessibility? a. Continuity Incorrect b. Mobility substitutes c. Air superiority d. Matriculation Mobil...
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Add to cartWhat is a tax allocation district? A district where property is charged a higher property tax in order to build infrastructure for that area Which of the following is a factor that affects accessibility? a. Continuity Incorrect b. Mobility substitutes c. Air superiority d. Matriculation Mobil...
A broker is a person who: a. is employed by another person b. has the authority to act for another person c. has the authority to exercise some discretion while acting for another person The person who hires or appoints a broker to act on his/her behalf is a _____________. principal In Orego...
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Add to cartA broker is a person who: a. is employed by another person b. has the authority to act for another person c. has the authority to exercise some discretion while acting for another person The person who hires or appoints a broker to act on his/her behalf is a _____________. principal In Orego...
After a clients' trust account is opened, the real estate professional who opened the account has how many days to file clients' trust account with OREA? 10 business days What information does the OREA want in clients account? ●The name of the bank the account was established with ● The nu...
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Add to cartAfter a clients' trust account is opened, the real estate professional who opened the account has how many days to file clients' trust account with OREA? 10 business days What information does the OREA want in clients account? ●The name of the bank the account was established with ● The nu...
Can a non-licensed individual who is an employee of a licensed real estate property manager do any of the following items, even if the property manager signs a paper delegating their authority to a non-licensed office staff person? 1. Negotiate rental of lease agreements? 2. Check tenant and credit ...
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Add to cartCan a non-licensed individual who is an employee of a licensed real estate property manager do any of the following items, even if the property manager signs a paper delegating their authority to a non-licensed office staff person? 1. Negotiate rental of lease agreements? 2. Check tenant and credit ...
required elements of a listing agreement the starting and ending dates of the contract, the asking price for the property, the types of financing the seller will accept (e.g., conventional loan, cash, seller financing), the amount of commission to be paid to the principal broker, the right to instal...
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Add to cartrequired elements of a listing agreement the starting and ending dates of the contract, the asking price for the property, the types of financing the seller will accept (e.g., conventional loan, cash, seller financing), the amount of commission to be paid to the principal broker, the right to instal...
Principal Broker A principal real estate broker is an individual who may or may not be responsible for the professional real estate activity conducted by himself and others working in the same office. Principal Broker must be 18 years of age; background check; educational requirements; real estat...
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Add to cartPrincipal Broker A principal real estate broker is an individual who may or may not be responsible for the professional real estate activity conducted by himself and others working in the same office. Principal Broker must be 18 years of age; background check; educational requirements; real estat...
An unlicensed personal assistant to a real estate broker could legally do which of the following? Deliver documents to a buyer. An Oregon real estate license must be held by a person who performs which of the following acts? 1. Take a listing from a real property owner with the expectation of rec...
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Add to cartAn unlicensed personal assistant to a real estate broker could legally do which of the following? Deliver documents to a buyer. An Oregon real estate license must be held by a person who performs which of the following acts? 1. Take a listing from a real property owner with the expectation of rec...
A broker is a person who: a. is employed by another person b. has the authority to act for another person c. has the authority to exercise some discretion while acting for another person d. all of the above all of the above Feedback: All of the above comprise the definition of a broker. The cor...
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Add to cartA broker is a person who: a. is employed by another person b. has the authority to act for another person c. has the authority to exercise some discretion while acting for another person d. all of the above all of the above Feedback: All of the above comprise the definition of a broker. The cor...
How many days notice must The Agency provide before performing a compliance review? 5 days How long can a real estate broker's license be expired before it lapses? 1 year who is not allowed to be an authorized signer on a property management trust account? Property Owner What are the three...
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Add to cartHow many days notice must The Agency provide before performing a compliance review? 5 days How long can a real estate broker's license be expired before it lapses? 1 year who is not allowed to be an authorized signer on a property management trust account? Property Owner What are the three...
A few days after an owner signed a listing agreement he told the broker that he would not sell to anyone who was single or divorced. Under Oregon law, which of the following statements are TRUE regarding this situation? I. Discrimination based on marital status is covered by Oregon statutes. II....
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Add to cartA few days after an owner signed a listing agreement he told the broker that he would not sell to anyone who was single or divorced. Under Oregon law, which of the following statements are TRUE regarding this situation? I. Discrimination based on marital status is covered by Oregon statutes. II....
Contract *agreement between two or morew competent parties based upon legal consideration that creates duties and obligations that are legally enforceable. 4 elements required for a contract *Competent Parties *Legal (or lawful) object or purpose *Agreement between the parties (offer & acceptan...
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Add to cartContract *agreement between two or morew competent parties based upon legal consideration that creates duties and obligations that are legally enforceable. 4 elements required for a contract *Competent Parties *Legal (or lawful) object or purpose *Agreement between the parties (offer & acceptan...
How many days does a principal broker have to provide the name and account number of the bank after opening a trust account? 10 business days What is the age a person has to be to get a reverse mortgage? 62 years old and if married both persons must be at least 62 What is de-titling a manufact...
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Add to cartHow many days does a principal broker have to provide the name and account number of the bank after opening a trust account? 10 business days What is the age a person has to be to get a reverse mortgage? 62 years old and if married both persons must be at least 62 What is de-titling a manufact...
An example of novation is that the seller's liability for the obligation is replaced by the buyer's. Under Oregon law in a month-to-month tenancy, the landlord has a right to terminate a tenant's occupancy after 30 days' written notice. To realize the maximum value of a property, a reasona...
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Add to cartAn example of novation is that the seller's liability for the obligation is replaced by the buyer's. Under Oregon law in a month-to-month tenancy, the landlord has a right to terminate a tenant's occupancy after 30 days' written notice. To realize the maximum value of a property, a reasona...
Promissory note for earnest money to be made payable at? Sellers Acceptance. Do social networking sites have to be supervised by the principal broker- yes social networking sites are advertising and must be supervised and approved by principal broker. .Which of the following doesn't require a...
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Add to cartPromissory note for earnest money to be made payable at? Sellers Acceptance. Do social networking sites have to be supervised by the principal broker- yes social networking sites are advertising and must be supervised and approved by principal broker. .Which of the following doesn't require a...
An unlicensed personal assistant working for a licensed broker may do which of the following activities? 1. Write ads and submit them to the newspaper and online. 2. Host open houses. 3. Email brokers weekly updates to the broker's clients. 4. Write up an offer for a buyer and then have...
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Add to cartAn unlicensed personal assistant working for a licensed broker may do which of the following activities? 1. Write ads and submit them to the newspaper and online. 2. Host open houses. 3. Email brokers weekly updates to the broker's clients. 4. Write up an offer for a buyer and then have...
Do social networking sites have to be supervised by the principal broker? Yes, social networking sites and advertising Does an acutioneer or a short term vacation rental need a real estate liscence? An auctioneer who is auctioning homes must have license - someone who deals with short term vacati...
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Add to cartDo social networking sites have to be supervised by the principal broker? Yes, social networking sites and advertising Does an acutioneer or a short term vacation rental need a real estate liscence? An auctioneer who is auctioning homes must have license - someone who deals with short term vacati...
How long must real estate documents be kept? 6 years, from the date the transaction was accepted, rejected, or withdrawn Who approves advertising? Principal broker When should the principal broker review brokers documents? 7 days of the document's acceptance, rejection or withdrawal. The PB m...
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Add to cartHow long must real estate documents be kept? 6 years, from the date the transaction was accepted, rejected, or withdrawn Who approves advertising? Principal broker When should the principal broker review brokers documents? 7 days of the document's acceptance, rejection or withdrawal. The PB m...
A branch office registration is necessary to use: 1. a model unit, available for sale, in a subdivision for promotion of interest in the development. 11. temporary structure for dissemination of information. Neither I nor 11 A person can work as a secretary in a real estate office without obt...
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Add to cartA branch office registration is necessary to use: 1. a model unit, available for sale, in a subdivision for promotion of interest in the development. 11. temporary structure for dissemination of information. Neither I nor 11 A person can work as a secretary in a real estate office without obt...
How does a creditor who has obtained a judgment get satisfaction against a debtor who will not pay? Writ of execution. A major difference between freehold and nonfreehold estates is that all freehold estates _________. are of indeterminable duration. The economic characteristics of land are Sc...
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Add to cartHow does a creditor who has obtained a judgment get satisfaction against a debtor who will not pay? Writ of execution. A major difference between freehold and nonfreehold estates is that all freehold estates _________. are of indeterminable duration. The economic characteristics of land are Sc...
The buyer asks if there are any sex offenders in the neighborhood. The agent's MOST appropriate response would be to: give the buyer the website address so the buyer can look up that information A developer intends to subdivide a large parcel of land and is in the process of land planning. He ha...
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Add to cartThe buyer asks if there are any sex offenders in the neighborhood. The agent's MOST appropriate response would be to: give the buyer the website address so the buyer can look up that information A developer intends to subdivide a large parcel of land and is in the process of land planning. He ha...
An exception to title insurance coverage is defects that clearly appear in the title search. A licensee has an agency representation agreement with a buyer. When showing another company's listing, what obligation does the licensee have to the seller and the listing broker at the other company? D...
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Add to cartAn exception to title insurance coverage is defects that clearly appear in the title search. A licensee has an agency representation agreement with a buyer. When showing another company's listing, what obligation does the licensee have to the seller and the listing broker at the other company? D...
Constructive eviction Acts done or not done by the landlord which materially disturb or impair tenants occupancy so as the tenant is forced to leave Surrender and acceptance Mutual agreement to terminate lease The residential landlord and tenant act Covers leased structures used as home, resid...
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Add to cartConstructive eviction Acts done or not done by the landlord which materially disturb or impair tenants occupancy so as the tenant is forced to leave Surrender and acceptance Mutual agreement to terminate lease The residential landlord and tenant act Covers leased structures used as home, resid...
How many consecutive years of non-use of water does one lose their water rights in Oregon? 5 consecutive years, the right is considered forfeited Who must register the business name? Principal Broker, must register the business name with REA-(Real Estate Agency) under their name. How long must...
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Add to cartHow many consecutive years of non-use of water does one lose their water rights in Oregon? 5 consecutive years, the right is considered forfeited Who must register the business name? Principal Broker, must register the business name with REA-(Real Estate Agency) under their name. How long must...
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