Oregon Real Estate exam Questions and Correct Answers the Latest Update and Recommended Version
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Course
Oregon Real Estate
Institution
Oregon Real Estate
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 ...
→ Describes agency choices/must be given to seller prior to entering into listing
agreement and to buyer when first contact is made of buyer is seeking representation
Disclosed limited agency
→ Seller and buyer represented by the same real estate business (whether that's a
principal broker or associates broker)
Sellers agent
→ Listing agent
Selling agent
→ Agent who writes the offer (can be buyers agent, sellers agent or disclosed limited
agent)
Property condition disclosure law
→ Buyers right to receive disclosure statement on potential property, rescind transaction
within 5 business days based on statement and to waive the right to rescind
Lending collateral analysis
→ Real property market analysis for use by a lending institution in support of a loan
application. The loan transaction must be less than 250K
→ Demonstrates the accounting value or financial position of the company. Based on
assets and liabilities NOT income and expenses
Net worth
→ Assets minus liabilities. Also known as equity
Form W 4
→ Used to determine fed and state income withholding tax
Income statement
→ Aka profit and loss statement, income and expense statement or operating statement.
Shows company's income and expenses or profit and loss for a given period. Shows
net profit or net loss.
Net profit/net loss
→ Found on the income statement. gross income minus expenses
Budget
→ Detailed plan for future receipts and expenditures. Projected profit and loss statement
Net listing
→ Specifies amount seller wishes to receive from the sale and listing agent keeps any
above that amount
Listing agreement
→ Essentially an employment contract
Exclusive agency listing
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