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OREGON REAL ESTATE STATE EXAM 2024/2025 LATEST TEST BANK WITH OVER 600 PRACTICE QUESTIONS WITH CORRECT ANSWERS/ OREGON REAL ESTATE EXAM (PSI) LATEST 2024 (NEWEST)$29.99
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OREGON REAL ESTATE STATE EXAM 2024/2025 LATEST TEST BANK WITH OVER 600 PRACTICE QUESTIONS WITH CORRECT ANSWERS/ OREGON REAL ESTATE EXAM (PSI) LATEST 2024 (NEWEST)
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OREGON REAL ESTATE STATE
Institution
OREGON REAL ESTATE STATE
OREGON REAL ESTATE STATE EXAM 2024/2025 LATEST TEST BANK WITH OVER 600 PRACTICE QUESTIONS WITH CORRECT ANSWERS/ OREGON REAL ESTATE EXAM (PSI) LATEST 2024 (NEWEST)
OREGON REAL ESTATE STATE EXAM
2024/2025 LATEST TEST BANK WITH
OVER 600 PRACTICE QUESTIONS WITH
CORRECT ANSWERS/ OREGON REAL
ESTATE EXAM (PSI) LATEST 2024
(NEWEST)
If buyer purchases land for development, where can a broker advise the client to
seek advice?
Oregon Department Of Land Conservation And Development
When informing the real estate agency a clients trust account has been opened.
What information is to be included? - ANSWER-1. Name of the bank
2. Account Number
3. Name of the account
4. Date the account was opened
5. Acknowledged copy of the notice
When should you notify the Real Estate agency a clients trust account has been
closed/opened? - ANSWER-10 business days, from the date the account was
opened or closed
How long can a broker temporarily supervise due to the absence of the principal
broker? - ANSWER-90 days, with written authorization and broker accepts in
writing the effective & termination date. The broker must also have 3years of
active real estate experience.
,Does the duty a real estate agent owes to their principal of confidentiality end after
the agency relationship ends? - ANSWER-NO, confidentiality survives the ending
of an agency relationship. A broker may not reveal information received from a
client even after that client stops being the broker's client.
What should a real estate agent do if the customer requests information outside of
expertise of the real estate agent? - ANSWER-Advise the principal to seek expert
advice related to the transaction beyond the agent's expertise
Can a real estate licensee represent both the buyer and seller in the same real estate
transaction? - ANSWER-YES, under a disclosed limited agency agreement with
written permission from both the seller and buyer
When should a real estate agent present an agency disclosure pamphlet to each
party? - ANSWER-At first contact, but not limited to in person, telephone,
internet, or email,
If a real estate agent is selling their own home and wants to advertise it, do they
still need approval from their principal broker for the advertising? - ANSWER-No,
review or approval is NOT required if a licensee is advertising their own property
for sale, exchange or lease option, as long as the property is not listed with their
principal broker. ... If the property is listed with the principal broker, all
advertising, even by its licensee owner, must be reviewed and approved.
Property which is subject to a trust deed in Oregon may be - ANSWER-sold before
the trust deed is paid off.
further encumbered with a second trust deed or mortgage.
Harris sold land to Henderson under a land sale contract that was not recorded.
Harris then mortgaged the property and that mortgage was recorded. In the event
,of foreclosure on the mortgage, who has the best legal claim to the property? -
ANSWER-mortgage holder
If an Oregon deed is recorded naming "Alfred Johnson and Barbara Johnson, his
spouse" as grantees, but if not actually married, then the title is automatically held
as: - ANSWER-Tenants in common
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 references?
3. Physically maintain the real estate?
4. Conduct tenant relations?
5. Collect the rent?
6. Supervise the premises' managers?
7. Discuss financial matters relating to the management?
8. Receive and disburse trust funds in a clients trust account?
YES
696.030 Exemptions.
(9) A non-licensed individual who is employed by a principal real estate broker
engaged in the management of a rental real estate or by a licensed real estate
property manager and who acts on behalf of the principal real estate broker or
licensed real estate property manager pursuant to a written delegation of the
principal real estate broker’s or licensed real estate property manager’s authority.
Do you have to be a licensed real estate agent to conduct a real estate AUCTION?
(i.e. the auctioneer)
YES
There are various persons working at auctions who must be licensed. These include
the broker who contracts (listing or employment agreement) to conduct the auction
and the person who cries the auction. Bid assistants (sometimes called spotters or
, ringmen) who do more than merely spot bids for the auctioneer will also be
required to have a real estate license.
Do you have to be a licensed real estate agent to sell campground sites?
NO
Any individual who does not have a real estate license and is engaged in offering
to sell or obtaining commitments to buy campground memberships by means of
membership camping contracts by making a direct sales presentation to a person
must be registered as a membership camping contract salesperson.
Do you have to open a separate client trust account for each individual client
(transaction)?
YES
Principal brokers must retain and store the records described in this rule as required
by OAR 863-015-0250 and 863- 015-0260. However, where separate general
business or clients’ trust accounts or both are maintained at branch offices, the
financial records described in this rule may be maintained and located either at the
principal broker’s main office or, if the principal real estate principal broker or
branch office manager conducts the real estate business from that branch office, at
that branch office.
When you have to renew your license for the first time what is needed for
continued education?
three-hour law and rule required course and 27-hour advanced course in real
estate practices
(B) A Board-approved three-hour law and rule required course on recent changes
in rule and law, described in OAR 863-022-0055, required for all licensees;
(C) A 27-hour advanced course in real estate practices, described in OAR 863-022-
0020, required for real estate brokers before the first active renewal of the broker's
license or before the first license reactivation following an inactive first renewal;
When a broker writes a letter of resignation to his principle broker, at what point
does that principal broker become NOT responsible for that broker? (when he
receives the resignation letter? when he signs off on the license? when he signs off
on the license and puts it in the mail?)
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