Which of the following is a freehold estate? - ANSWER Life Estate
After a trustee's sale is held and the property has been sold to the highest bidder,
the grantor has: - ANSWER No recourse
A percentage lease is calculated on a percentage of: - ANSWER The gross
sales
Under the Oregon Residential Landlord and Tenant Act, Security deposits: -
ANSWER May be claimed by the landlord to repair damages caused by the
tenant
An easement is: - ANSWER An encumbrance on real property
In a sale-leaseback arrangement: - ANSWER Neither I nor II
A mortgage is best defined as: - ANSWER A special lien
Which of the following statements regarding priority of interests is true? -
ANSWER The priority of a deed is established by the date the deed was
recorded
A mortgage lien can be released by: - ANSWER Foreclosure and Sale of the
property to the mortgagee
A judgement lien is placed on all real property belonging to Kenneth, an Oregon
resident. He may lose his right to claim a homestead exemption if he: -
ANSWER Sells his home and invests the proceeds in an out of state business
, To be valid a deed which contains a lot and block description must also: -
ANSWER Neither I nor II
Which of the following is NOT an operating expense on a budget as prepared
by a property manager? - ANSWER Replacement of ceiling
If the tenant improves a leased building, unless otherwise stated, the -
ANSWER Owner acquires title to the improvements when the lease terminates.
The Oregon statutory special warranty deed: - ANSWER Conveys any interest
the grantor may receive after the deed is signed
Which of the following statements concerning statutory deed forms is correct? -
ANSWER If any modifications to a statutory deed are necessary, the client
should be advised by the broker to seek assistance of an attorney to make the
changes.
When compared to Federal Housing Administration loans, conventional loans
generally offer the borrower - ANSWER lower loan-to-value ratios.
A standard title insurance policy protects the insured against which of the
following? - ANSWER The lack of capacity of a grantor
Ted Mahoney gave a general warranty deed to his nephew John when John
bought the apartment building Ted owned. John had the deed recorded. Later
John decided to convey the property back to Ted. How could this best be
accomplished? - ANSWER John must make a new deed to Ted and Ted should
record it
The loan-to-value ratio on a mortgage is the - ANSWER Loan as a percentage
of the sales price or appraised value, whichever is lower
The penalty for violation of a deed restriction, also called a covenant, is: -
ANSWER Less stringent than for violation of a condition set forth in a deed
Money for FHA loans comes directly from the - ANSWER Neither I nor II
After a trustee's sale is held and the property has been sold to the highest bidder,
the grantor has: - ANSWER No recourse
A percentage lease is calculated on a percentage of: - ANSWER The gross
sales
Under the Oregon Residential Landlord and Tenant Act, Security deposits: -
ANSWER May be claimed by the landlord to repair damages caused by the
tenant
An easement is: - ANSWER An encumbrance on real property
In a sale-leaseback arrangement: - ANSWER Neither I nor II
A mortgage is best defined as: - ANSWER A special lien
Which of the following statements regarding priority of interests is true? -
ANSWER The priority of a deed is established by the date the deed was
recorded
A mortgage lien can be released by: - ANSWER Foreclosure and Sale of the
property to the mortgagee
A judgement lien is placed on all real property belonging to Kenneth, an Oregon
resident. He may lose his right to claim a homestead exemption if he: -
ANSWER Sells his home and invests the proceeds in an out of state business
, To be valid a deed which contains a lot and block description must also: -
ANSWER Neither I nor II
Which of the following is NOT an operating expense on a budget as prepared
by a property manager? - ANSWER Replacement of ceiling
If the tenant improves a leased building, unless otherwise stated, the -
ANSWER Owner acquires title to the improvements when the lease terminates.
The Oregon statutory special warranty deed: - ANSWER Conveys any interest
the grantor may receive after the deed is signed
Which of the following statements concerning statutory deed forms is correct? -
ANSWER If any modifications to a statutory deed are necessary, the client
should be advised by the broker to seek assistance of an attorney to make the
changes.
When compared to Federal Housing Administration loans, conventional loans
generally offer the borrower - ANSWER lower loan-to-value ratios.
A standard title insurance policy protects the insured against which of the
following? - ANSWER The lack of capacity of a grantor
Ted Mahoney gave a general warranty deed to his nephew John when John
bought the apartment building Ted owned. John had the deed recorded. Later
John decided to convey the property back to Ted. How could this best be
accomplished? - ANSWER John must make a new deed to Ted and Ted should
record it
The loan-to-value ratio on a mortgage is the - ANSWER Loan as a percentage
of the sales price or appraised value, whichever is lower
The penalty for violation of a deed restriction, also called a covenant, is: -
ANSWER Less stringent than for violation of a condition set forth in a deed
Money for FHA loans comes directly from the - ANSWER Neither I nor II
