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Oregon Real Estate - AYPO - Oregon Real Estate Broker License Education Review Questions with Solutions 2024
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Oregon Real Estate - AYPO - Oregon Real Estate Broker License Education Review
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Oregon Real Estate - AYPO - OregonReal Estate Broker License Education
Review
What is a tax allocation district? - answer 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 - answer Mobility substitutes
Predatory loans often have fees that cost more than... - answer5% of the total amount
of a loan.
Under the veteran loan program, a veteran that purchases a property must make the
property his or her primary residence within _____ days of closing. - answer60 days
A licensee who attempts to purchase property for their personal use must do which of
the following?
a. Hire a separate disinterested broker
b. Purchase only from persons represented by a seller's broker
c. Pay their standard buyer's broker's commission to their principal broker
d. Disclose that they are a licensee - answerDisclose that they are a licensee
Under OAR 863-027-0020: the commissioner cannot issue more than a reprimand
unless the violation committed by the licensee is a gross violation. Which of the
following cases would not cause a violation to be considered a gross violation?
a. The act resulted in significant damage
b. The act exhibited dishonest, but not fraudulent, conduct
c. The act was perpetrated willfully
d. The act is substantially similar to conduct that the licensee was reprimanded for
previously - answerThe act was perpetrated willfully
When creating a real estate listing agreement the principal will be... - answerthe seller.
Which of the following is NOT something that was added to the The Truth in Lending
Act through an amendment?
a. Prohibitions on the use of mandatory arbitration
,b. A requirement that consumers be notified if their mortgage loan is sold or transferred
to another entity Incorrect
c. A requirement that lenders provide borrowers with an annual escrow statement
d. A prohibition on unsolicited credit cards - answerA requirement that lenders provide
borrowers with an annual escrow statement
When beginning a property management relationship the owner stated that "I want to
help poor single mothers get back on their feet" when discussing the purpose of having
rentals. Which of the following actions would be best for you to engage in as the
landlord?
a. Charge a rental rate that is in the top 75% of the market
b. Install a daycare
c. Advertise the property as "affordable housing for single mothers"
d. Charging less rent to single mothers - answerInstall a daycare
Which of the following situations do not allow the landlord to give the tenant a 24 hour
eviction notice?
a. The tenant punched a hole in the roof to install a skylight
b. The legal tenant has moved out and there is an illegal sub-tenant living in the
property
c. The tenant has attacked another tenant
d. The tenant was convicted of possession of 1/2 oz of marijuana - answerd. The tenant
was convicted of possession of 1/2 oz of marijuana
Under OAR 863-015-0125: Which of the following is not required on a real estate
advertisement created by a seller's broker?
Select one:
a. All of these are required Incorrect
b. The broker's name
c. The business name the broker operates under
d. The address of the property - answerThe address of the property
In regards to a tenancy at sufferance, what happens if the landlord accepts a rental
payment from a holdover tenant? - answerThe tenancy at sufferance changes to a
periodic tenancy
A property owner is planning to install a circular pond and wants to know how much
space the pond will take up. If the property owner is planning on the pond being 26 feet
in diameter, what will be the area of the pond in square feet?(Area of a Circle = π x
[Diameter of the Circle / 2]2) - answer530 ft2
...commonly have terms of a year or more but do not usually renew at the end of the
term. - answerLeases
,When storing real estate records in electronic format, the records must be stored in a
"WORM" format. What is a "WORM" format? - answerA format that can only be written
to once
If a brokerage employs two principal brokers then... - answerthe brokers may have a
written agreement laying out supervision responsibilities.
Which of the following would NOT be defined as a conflict of interest?
Select one:
a. The broker is representing her sister
b. The buyer's broker sits on the planning board and they are drafting new zoning
c. The buyer wants to keep prices low (which would result in a lower commission for the
buyer's broker)
d. All of these are a conflicts of interest - answerThe buyer wants to keep prices low
(which would result in a lower commission for the buyer's broker)
The Real Estate Settlement Procedures Act requires a lender to provide a borrower with
a Good Faith Estimate. What is a Good Faith Estimate? - answerAn itemized list of all
the fees and costs associated with a loan
How much continuing education is necessary to renew an inactive license while keeping
the license in an inactive state? - answerNone
When creating an agency agreement with a client, the primary agent is ______ and the
sub agent is ________ - answerThe managing principal broker, the broker
Waste that is ignitable, corrosive, reactive, or toxic is considered to be... -
answerhazardous waste.
Which of the following is not an acceptable fee to be charged to tenants under the
Oregon Landlord Tenant Act?
a. Parking violation
b. Abandonment of the property Incorrect
c. Late fee
d. Pet fee - answerPet fee
Which of the following statements is not required in a Competitive Market Analysis?
Select one:
a. A description of the property
b. A statement of intent
c. A legal description of the property
d. A disclaimer that the analysis is not an appraisal - answerA legal description of the
property
, If a principal broker reviews a document electronically, what must be done? -
answerThe principal broker must have an electronic record showing the name of the
review and the date of the review
Which of the following would not be considered real property?
Select one:
a. Permanent fencing
b. A car
c. Oil resources
d. A building - answerA car
If a broker sells their own property, where must the records of that transaction be
stored? - answerIn the main office of the brokerage the broker works for
A rental property produces $3,750 a month before expenses. If the capitalization rate for
the property is 20% and the property expenses are $1,500 a month, what is the current
value of the property?
([Gross Monthly Income - Monthly Property Expenses] / Capitalization Rate = Current
Property Value) - answer$11,250
What is the legal device that obligates a borrower to pay back a mortgage loan? -
answerA promissory note
A home warranty does not usually cover which of the following?
a. In-ground pool
b. Oven
c. Garbage disposal
d. Doorbell - answerIn-ground pool
Which of the following is not considered a material fact for a real estate transaction?
a. Any governmental studies affecting the property
b. Any pest infestations
c. All of these are material facts
d. The presence of a fireplace insert - answerAll of these are material facts
Which of the following potential issues is not within the scope of the real estate license?
Select one:
a. None of these are within the scope of the real estate license
b. Whether the title is clear
c. Any easements on the property
d. Existing leases on the property - answerWhether the title is clear
A lease in which the tenant will be allowed to build additional properties, but is
responsible for paying the increased insurance, property taxes, and maintenance costs
because of the building would be best classified as which type of lease?
a. A triple net lease
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