Oregon Real Estate exam questions and answers 2024 with complete solution

1 mile - 5280 feet 1760 yards Acre - 43560 feet Assignment of contracts - Contracts involving money or property are assignable. Contracts involving service (listing agreement) are not assignable without consent of the principal Balance sheet - Demonstrates the accounting value or financial position of the company. Based on assets and liabilities NOT income and expenses Blockbusting - Inducing or attempting to induce sellers to sell or rent bc members of a certain race etc may be moving into the hood Scaring owners into selling Budget - Detailed plan for future receipts and expenditures. Projected profit and loss statement Capitalization rates - 2 elements Recapture or return of the investment to recover loss due to depreciation Take 100% and divide by economic life = recapture rate Return on investment aka discount rate or interest rate and add to recapture rate to get cap rate Chattel mortgage - Mortgage on personal propertyCivil rights act 1866 - To enforce the 13th amendment (prohibiting Slavery) States all citizens shall have the same rights to inherit purchase lease sell hold real and personal property Civil rights act 1968 - Aka fair housing act Builds on act of 1866 To provide fair housing and equal housing opportunities to all Collection escrow - Used in land sales contracts since the buyer is not receiving the deed until full purchase price is paid