THE CODE, Oregon Real Estate Exam (PSI) Questions with 100% correct answers

THE CODE, Oregon Real Estate Exam (PSI) Questions with 100% correct answers The buyer asks if there are any sex offenders in the neighborhood. The agent's MOST appropriate response would be to: -Correct Answer-give the buyer the website address so the buyer can look up that information A developer intends to subdivide a large parcel of land and is in the process of land planning. He has determined the geographic boundaries of the individual lots and how the streets as the development will be signed to give access to each lot, when can he begin to list this property? -Correct Answer-When he has submitted his plat map to local authorities, received approval, and recorded it The lead paint addendum that must be presented with the purchase and sales contract for certain older homes will: -Correct Answer-provide the buyer with the opportunity to wave the right to a lead paint inspection. Market price is: -Correct Answer-What the property sells for The most listing contracts, a broker who has brought a ready, willing, and able buyer to a seller who agrees to the terms of a sales contract: -Correct Answer-Does not earn money unless the sales closes. A motel is the subject of an appraisal and it is determined that a rerouting of a country highway has limited customer access to the motel. This is an example of: -Correct Answer-economic obsolescence An owner signed a contract to sell an apartment building. Just before closing, the owner informed the buyers that she had changed her mind and would NOT sell the property. A lawsuit filed by the buyers would be for: -Correct Answer-Specific Performance Quality Supermarkets has taken occupancy of a retail building and has a long term lease. As part of the their fit-up, they bolt to the floor their meat and dairy coolers, and shelves. When Quality Supermarket vacates the property at the end of the lease, will Quality Supermarkets be legally entitled to remove these fixtures? -Correct Answer-Yes, if removed prior to the end of the lease A seller has listed a home with a broker for $112,000. The seller is leaving for a 45 day cruise midway through the listing period, and authorizes the broker through a power of attorney to accept any offer of all cash at a price $100,000 or more. Broker receives a cash offer for $110,000, what does the broker do? -Correct Answer-May accept the offer The sellers have listed their property for sale because they are in a difficult financial situation and would like to get the house sold quickly. If one of the other sellers in the area ask why that client is selling, the listing agent should respond by explaining what: -Correct Answer-Because they are looking to sell their house A small broker committee in the local county has set up a new marketing idea. They will give every seller the same commission rate and it will not be negotiable. This will allow the customers to know exactly what it will cost to list a property. This marketing plan is: -Correct Answer-Price Fixing Title insurance has allowed for more accessible loans for buyers. This is because: -Correct Answer-It reduces the risk of loss due to title defects What does the mortgage lender most often rely on when deciding how much is safe to lend on a parcel of real estate? -Correct Answer-Appraisal report Which of the following is among the typical responsibilities of a residential property manager? -Correct Answer-S