Oregon real estate 2023 Study guides, Class notes & Summaries

Oregon Real Estate Exam (PSI) Questions with Verified Answers | Latest 2023/2024 How many consecutive years of non-use of water does one lose their water rights in Oregon? ️ 5 consecutive years, the right is considered forfeited Who must register the business name? ️ Principal Broker, must register the business name with REA-(Real Estate Agency) under their name. How long must real estate documents be kept? ️ 6 years, from the date the transaction was accepted, rejected, or withdrawn...

OREGON REAL ESTATE EXAM (PSI) QUESTIONS AND ANSWERS 2023 NEW ONLINE SOLUTION How many consecutive years of non-use of water does one lose their water rights in Oregon? Who must register the business name? How long must real estate documents be kept? Who approves advertising? When should the principal broker review a brokers Documents? How long must you keep attendance & continuing education records? When should you notify the Real Estate agency a clients trust account h...

OREGON REAL ESTATE 2023 COMPLETE QUESTIONS AND ANSWERS ALREADY PASSED A+ Primary Mortgage Market - CORRECT ANSWER Where lenders originate mortgage loans by lending funds directly to borrowers. Mortgage Broker - CORRECT ANSWER A person who brings borrowers and lenders together for a real estate loan. Mortgage Banker - CORRECT ANSWER A person who originates, finances, and closes mortgage loan transactions, and then sells the mortgage to large investors in the second market. Warehou...

Do social networking sites have to be supervised by the principal broker? - correct answer -Yes, social networking sites and advertising Does an acutioneer or a short term vacation rental need a real estate liscence? - correct answer -An auctioneer who is auctioning homes must have license - someone who deals with short term vacation rentals needs business license only - real estate license not required. Which of the following needs to be disclosed to a potential buyer? - correct answer -a...

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 structures used as home, residence or sleeping place. EXCLUDES nursing homes, lease to own, dorms, frats, resident managers homes Law of agency - ANSWER-Statutory law controlling the rights and duties...

Oregon Real Estate 2023 COMPLETE QUESTIONS AND ANSWERS ALREADY PASSED A+ Contract - CORRECT 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 - CORRECT ANSWER *Competent Parties *Legal (or lawful) object or purpose *Agreement between the parties (offer & acceptance) *Consideration Valid Contract - CORRECT ANSWER Contains all of the essential ele...

Primary Mortgage Market - CORRECT ANSWER Where lenders originate mortgage loans by lending funds directly to borrowers. Mortgage Broker - CORRECT ANSWER A person who brings borrowers and lenders together for a real estate loan. Mortgage Banker - CORRECT ANSWER A person who originates, finances, and closes mortgage loan transactions, and then sells the mortgage to large investors in the second market. Warehousing - CORRECT ANSWER Assembling loans and pledging them with ...

OREGON REAL ESTATE FINAL STUDY GUIDE 2023 COMPLETE QUESTIONS AND ANSWERS ALREADY PASSED A+ How many days notice must The Agency provide before performing a compliance review? - CORRECT ANS 5 days How long can a real estate broker's license be expired before it lapses? - CORRECT ANS 1 year who is not allowed to be an authorized signer on a property management trust account? - CORRECT ANS Property Owner What are the three things required when opening a client trust account? - CORR...

Contract - CORRECT 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 - CORRECT ANSWER *Competent Parties *Legal (or lawful) object or purpose *Agreement between the parties (offer & acceptance) *Consideration Valid Contract - CORRECT ANSWER Contains all of the essential elements and is binding and enforceable upon both parties to the co...