Oregon PSI Brokers Exam Practice Questions & Correct Verified Answers
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Course
Oregon PSI Brokers
Institution
Oregon PSI Brokers
What is real property? - Correct Answer Land and everything, which is Permanently Affixed to it
What is personal property? - Correct Answer Property that can be moved or isn't permanently attached to the property.
Conveyance of Real Property - Correct Answer The act of transferring prop...
Oregon PSI Brokers Exam Practice Questions &
Correct Verified Answers
What is real property? - Correct Answer Land and everything, which is Permanently Affixed to it
What is personal property? - Correct Answer Property that can be moved or isn't permanently attached
to the property.
Conveyance of Real Property - Correct Answer The act of transferring property from one party to
another.
Instruments of Conveyance - Correct Answer Contract, Lease, Title, Deed
Type of Legal Descriptions - Correct Answer Metes and Bounds, Lot and Block, Government Survey
System
Metes and Bounds - Correct Answer Parcels of Real Estate identified by its Natural Landmarks
Lot and Block - Correct Answer Sometimes referred to as the Plat Survey System and is land that is
already described by another form of survey system that is then subdivided into smaller lots.
Government Survey System - Correct Answer Sometimes referred to as the PLSS (Public Land Survey
System) and is based on Meridian Lines, Base Lines, and Townships then Sections
How many SQ feet in an Acre? - Correct Answer 43,560
Livable Area - Correct Answer Includes open and free living spaces and does not include storage areas,
hallways, and garages . Livable space is accessible, heated, and finished.
Types of Ownership - Correct Answer Tenants in common, Joint Tenancy, Time Shares, Condominiums,
Ownership in Severalty, Ownership held in Trust
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