Oregon real estate license law Questions And Answers Graded A+

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 broker associated with a principal real estate broker was asked by a property owner to prepare a competitive market analysis for the owner's residence. Under Oregon law, which of the following statements about a competitive market analysis are true? - Answer-A fee may be charged for providing a competitive market analysis. The analysis may not be contingent upon reporting a pre-determined value. A broker must maintain which documents that pertain to his professional real estate activity? - AnswerCopy of a receipt issued by the broker in acceptance of a promissory note from a cooperating broker Copy of a narrative appraisal report issued by the broker Earnest money agreement in the completed sale of a property A licensed real estate property manager may - Answer-collect a commission for the lease of an owner's real estate. A listing agreement in Oregon is limited to 180 days duration. True or False? - Answer-False A nonlicensed personal assistant to an Oregon broker associated with a principal real estate broker could legally perform which of the following activities? - Answer-Install signs and lock boxes on listed properties A person can work as a secretary in a real estate office without obtaining a real estate license. That secretary can legally perform which of the following functions? - Answer-Verify the accuracy of listing information supplied by a broker by checking the records at the county tax office A person who holds an inactive real estate license - Answer-may not engage in professional real estate activity. must disclose the fact that he has a license when buying or selling property on his own account on at least the first written document of agreement.A principal broker is required to deposit earnest money into a clients' trust account. However, he may deposit the money into a federally insured interest-bearing account only if - Answer-he has written approval from the purchaser and the seller. A principal broker may - Answer-have trust accounts and separate bookkeeping systems for each of his offices. place rental collections on property he owns in his personal account. A principal broker may place clients' trust funds into an interest-bearing account only if - Answer-all parties who have an interest in the funds give their written permission. A principal broker must maintain a complete record of all funds, promissory notes, or other consideration received on real estate offers and transactions for a minimum of - Answer-6 years