Oregon real estate final - Study guides, Class notes & Summaries

How many days notice must The Agency provide before performing a compliance review? - 5 days How long can a real estate broker's license be expired before it lapses? - 1 year who is not allowed to be an authorized signer on a property management trust account? - Property Owner What are the three things required when opening a client trust account? - 1. The date the account was opened 2. The acct number 3. A statement authorizing the RE commissioner to examine the account Which associat...

Oregon Practices Final Exam Review Questions and answers, with rationale. graded A+/ verified. A broker is a person who: a. is employed by another person b. has the authority to act for another person c. has the authority to exercise some discretion while acting for another person d. all of the above - -all of the above Feedback: All of the above comprise the definition of a broker. The correct answer is "d". Question #2: The person who hires or appoints a broker to act on his/her beha...

How many days notice must The Agency provide before performing a compliance review? correct answers 5 days How long can a real estate broker's license be expired before it lapses? correct answers 1 year who is not allowed to be an authorized signer on a property management trust account? correct answers Property Owner What are the three things required when opening a client trust account? correct answers 1. The date the account was opened 2. The acct number 3. A statement authorizin...

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 (offer & acceptance) *Consideration Valid Contract - Answer Contains all of the essential elements and is binding and enforceable upon both parties to the contract. Voidable Contract - A...

How many days notice must The Agency provide before performing a compliance review? - 5 days How long can a real estate broker's license be expired before it lapses? - 1 year who is not allowed to be an authorized signer on a property management trust account? - Property Owner What are the three things required when opening a client trust account? - 1. The date the account was opened 2. The acct number 3. A statement authorizing the RE commissioner to examine the account Which associat...

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? - CORRECT ANS 1. The date the account was opened 2. The acct number 3. A statement auth...

OREGON FINAL REAL ESTATE TEST (NATIONAL) 2023 COMPLETE QUESTIONS AND ANSWERS ALREADY PASSED A+ The purpose of laws that provide for property to escheat to the state or county when a landowner dies with no will and no heirs is to 1. save the cost of a judicial claims process. 2. provide an additional source of revenues to the state or county. 3. prevent property from being ownerless. 4. increase the amount of land available for public use. - CORRECT ANS 3. prevent property from bei...

Oregon Real Estate Prelicense Practice Final Exam - correct answer -Oregon Real Estate Prelicense Practice Final Exam A few days after an owner signed a listing agreement he told the broker that he would not sell to anyone who was single or divorced. Under Oregon law, which of the following statements are TRUE regarding this situation? I. Discrimination based on marital status is covered by Oregon statutes. II. The broker may retain the listing. I only I and II Neither I nor II II o...

Oregon Real Estate Prelicense Practice Final Exam - Oregon Real Estate Prelicense Practice Final Exam A few days after an owner signed a listing agreement he told the broker that he would not sell to anyone who was single or divorced. Under Oregon law, which of the following statements are TRUE regarding this situation? I. Discrimination based on marital status is covered by Oregon statutes. II. The broker may retain the listing. I only I and II Neither I nor II II only - I only?? A me...