Oregon Real Estate Practices,
Practice Exam Questions and
Answers
A licensee risks violating antitrust law by
cooperating with another firm to do market research.
being present at a conversation where the setting of commission rates is
discussed.
being present at a discussion of antitrust laws.
charging a commission rate that happens to be the same as that charged by
another firm. - -being present at a conversation where the setting of
commission rates is discussed.
- The Equal Credit Opportunity Act (ECOA) requires lenders to
discount the income of a person involved in child-rearing or child-bearing.
specialize lending activity by geographical area for improved customer
service.
extend equal credit to all prospective borrowers.
consider the income of a spouse in evaluating a family's creditworthiness. - -
consider the income of a spouse in evaluating a family's creditworthiness.
- To minimize the risk of violating fair housing laws, a licensee should
make discriminatory or derogatory remarks in conversation only, never in
writing.
give better service to members of a protected class than is standard for
other clients or customers.
avoid working in neighborhoods that are predominantly occupied by a single
ethnic group.
refuse to use terms that refer to or describe any of the classes of persons
protected by the laws. - -refuse to use terms that refer to or describe any of
the classes of persons protected by the laws.
, - The standard E & O policy covers damages resulting from
antitrust violations.
negligence, error or omission in carrying out professional services.
mishandling of earnest money deposits.
failure to disclose an environmental condition. - -negligence, error or
omission in carrying out professional services.
- A broker signs a listing agreement to sell a home for $200,000. An
immigrant couple are interested in the house and ask the agent the price.
The agent states the price as $210,000. According to the fair housing laws,
such an action is
legal because the increased price does not necessarily exclude the couple.
illegal because the agent changed the terms of the sale to discourage this
particular couple.
illegal because the agent violated the listing agreement.
legal because the quoted price increase did not exceed 10% of the listing
price. - -illegal because the agent changed the terms of the sale to
discourage this particular couple.
- Under what circumstance may a property listed for sale with a brokerage
be advertised without identifying the principal broker?
Never.
When the broker is an out-of-state licensee.
When the ad is restricted to the brokerage's website.
When the advertisement is a silent ad. - -Never.
- The area of agent activity where there is the greatest risk of failing to
maintain client confidentiality is
the closing process.
office management.
Practice Exam Questions and
Answers
A licensee risks violating antitrust law by
cooperating with another firm to do market research.
being present at a conversation where the setting of commission rates is
discussed.
being present at a discussion of antitrust laws.
charging a commission rate that happens to be the same as that charged by
another firm. - -being present at a conversation where the setting of
commission rates is discussed.
- The Equal Credit Opportunity Act (ECOA) requires lenders to
discount the income of a person involved in child-rearing or child-bearing.
specialize lending activity by geographical area for improved customer
service.
extend equal credit to all prospective borrowers.
consider the income of a spouse in evaluating a family's creditworthiness. - -
consider the income of a spouse in evaluating a family's creditworthiness.
- To minimize the risk of violating fair housing laws, a licensee should
make discriminatory or derogatory remarks in conversation only, never in
writing.
give better service to members of a protected class than is standard for
other clients or customers.
avoid working in neighborhoods that are predominantly occupied by a single
ethnic group.
refuse to use terms that refer to or describe any of the classes of persons
protected by the laws. - -refuse to use terms that refer to or describe any of
the classes of persons protected by the laws.
, - The standard E & O policy covers damages resulting from
antitrust violations.
negligence, error or omission in carrying out professional services.
mishandling of earnest money deposits.
failure to disclose an environmental condition. - -negligence, error or
omission in carrying out professional services.
- A broker signs a listing agreement to sell a home for $200,000. An
immigrant couple are interested in the house and ask the agent the price.
The agent states the price as $210,000. According to the fair housing laws,
such an action is
legal because the increased price does not necessarily exclude the couple.
illegal because the agent changed the terms of the sale to discourage this
particular couple.
illegal because the agent violated the listing agreement.
legal because the quoted price increase did not exceed 10% of the listing
price. - -illegal because the agent changed the terms of the sale to
discourage this particular couple.
- Under what circumstance may a property listed for sale with a brokerage
be advertised without identifying the principal broker?
Never.
When the broker is an out-of-state licensee.
When the ad is restricted to the brokerage's website.
When the advertisement is a silent ad. - -Never.
- The area of agent activity where there is the greatest risk of failing to
maintain client confidentiality is
the closing process.
office management.
