OREGON REAL ESTATE EXAM (PSI) PACKAGE DEAL 2024!!

How many consecutive years of non-use of water does one lose their water rights in Oregon? - ANSWER 5 consecutive years, the right is considered forfeited Who must register the business name? - ANSWER Principal Broker, must register the business name with REA-(Real Estate Agency) under their name...

Constructive eviction - ANSWER 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 - ANSWER Mutual agreement to terminate lease The residential landlord and tenant act - ANSWER Covers leased str...

An exception to title insurance coverage is - ANSWER 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 c...

How does a creditor who has obtained a judgment get satisfaction against a debtor who will not pay? - ANSWER Writ of execution. A major difference between freehold and nonfreehold estates is that all freehold estates _________. - ANSWER are of indeterminable duration. The economic characterist...

The buyer asks if there are any sex offenders in the neighborhood. The agent's MOST appropriate response would be to: - ANSWER 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 planni...

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...

Contract - ANSWER *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 - ANSWER *Competent Parties *Legal (or lawful) object or purpose *Agreement between the parties...

When does oregon's property tax year begin? - ANSWER July 1st and ends on june 30th of the next year What lender would be the least likely to approve a short sale? - ANSWER junior lenders b/c they are in a secondary position when it comes to liens against the property and realize there may n...

Within how many business days from the date a client's trust account is opened, a licensed real estate property manager or principal real estate broker shall notify the Real Estate Agency that the account has been opened? - ANSWER 10 Within how many business days from the date a clients' trust ...

Do social networking sites have to be supervised by the principal broker? - ANSWER Yes, social networking sites and advertising Does an acutioneer or a short term vacation rental need a real estate liscence? - ANSWER An auctioneer who is auctioning homes must have license - someone who deals with...

Promissory note for earnest money to be made payable at? - ANSWER Sellers Acceptance. Do social networking sites have to be supervised by the principal broker- - ANSWER yes social networking sites are advertising and must be supervised and approved by principal broker. .Which of the following ...

A branch office registration is necessary to use a: I. Model unit, available for sale, in a subdivision for promotion of interest in the development. II. Temporary structure for dissemination of information. - ANSWER Neither I nor II A person can work as a secretary in a real estate office wit...

A branch office registration is necessary to use a: A. model unit, available for sale, in a subdivision for promotion of interest in the development. B. temporary structure for dissemination of information. - ANSWER Neither A nor B A person can work as a secretary in a real estate office withou...

Principal Broker - ANSWER 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 - ANSWER 18 years of age; background check; educational requir...