Oregon Real Estate All Test Questions & Answers, Graded A+/ verified.| latest update 2024/25|

Oregon Real Estate All Test Questions & Answers, Graded A+/ verified. How many types of licenses can a real estate licensee have at the same time? - -1 Which of the following activities/persons are not exempt from real estate licensure under ORS 696.030? -A non-licensed individual acting as attorney in fact under a power of attorney executed on September 2005 -A person testifying before a court as to the value of real property -An attorney rendering services in the performance of duties as an attorney at law -A registered professional architect who is rendering services in performance of duties as an architect - -A non-licensed individual acting as attorney in fact under a power of attorney executed on September 2005 Under OAR : Who is specifically not allowed to be an authorized signer on a property management trust account? - -The property owner Which of the following is a type of second mortgage? - -A home equity line of credit In the case of a short-sale, the buyer ________ the unpaid balance of the original loan. - -may still be held accountable for What is the distinctive feature of an open listing agreement? - -The listing agent does not get a commission unless he or she is able to find the buyer themselves. What is the legal concept behind agent/principal relationships? - -He who acts through another acts himself If a property diminishes in value due to old-fashioned plumbing fixtures, the property could be said to have experienced... - -functional obsolescence A chattel mortgage is secured with which of the following? - -Personal property The contractor building Brad's new home has "perfected" the construction lien on Brad's home. This means: - -the contractor has perfected the process of collecting full payment for work completed Who organizes the sale of a property secured with a deed of trust? - -The third party trustee Which of the following kind of financial statement will be most like the statement used to reconcile the client ledger? - -Cash flow statement Marcy regularly rents out one of the rooms on the top floor of her three-story house. Her normal rental rate is $750 a month, and all other utility costs are split between her and the tenant. She receives a rental application from Dimitri who explains that he is in the country for the year and needs a place to live. It also becomes clear that he has some trouble with English. Marcy does not like him, but cannot afford to turn away the income he could bring in. She asks him how much he can afford in rent. He tells her he will only be able to afford up to $900 a month for rent. She agrees to rent the room for $850 and that he is responsible for paying the cost of garbage pickup. Shortly after Dimitri moves out, she receives an application from a man named Henry. She takes a liking to Henry, especially after she finds out he grew up in a town a few hours away. Henry is charged $750 a month in rent and half of the utilit - - No; the fair housing act does not normally apply when the tenant and the landlord share a common living space. (Mrs. Murphy's exemption) What is the difference between a broker price opinion and a competitive market analysis? - -The broker price opinion is more formal and in depth Farmer Brown wants to buy 1,000 acres of farmland in the Willamette Valley that is exactly like the farmland he once owned in central Oregon. He knows, however, that the new property will never be "exactly" like his old property because one of the physical characteristics of land is that it is __________. - -nonhomogenous, meaning that no two parcels of land are exactly alike Which of the following is not exempt from the requirement to have a license in order to conduct real estate property management? - -An attorney at la