Oregon Real Estate Exam Review questions and answers, 100% Accurate, rated A+/| latest update 2024/25|

Oregon Real Estate Exam Review questions and answers, 100% Accurate, rated A+/ The act of entering upon another person's real estate without authority or permission of the owner is called an encroachment. a trespass. an easement. a license. - -a trespass Which of the following best describes the physical boundaries of Land? a. The Surface of the earth and infinite space above the surface b. the center of the earth and infinite space above it c. The surface of the earth and minerals/water on or below the surface to the center of the earth d. The surface of the earth and the air rights above the surface to the point defined by local zoning - -b. the center of the earth and infinite space above it Which of the following would be considered a property improvement? a. An alteration to land to make it more useful b. An increase in value in the property c. A chicken coop permanently attached to the land d. A parcel of Land that has passed a percolation - -c. A chicken coop permanently attached to the land Shortly after the close of escrow, Jones, the seller, learned that the buyers, Mr. and Mrs. Brown, were the stepfather and mother of Jones' real estate broker, that the Browns were acting on behalf of the broker, and that an escrow for resale of the same property had been opened at a $25,000 higher sales price before the Jones to Brown escrow was closed. Jones filed a complaint with the Real Estate Agency. Which of the following is true regarding this situation? 1.Since the seller got his asking price, there is no basis for a complaint. 2The real estate law does not cover a situation of this kind and the Commissioner has no jurisdiction. 3.After an administrative hearing, the Commissioner would discipline the broker for not disclosing the relationship and would award money damages to the seller. 4.The seller could sue the broker in civil court for the amount of the profit realized on the resale of the property an - -4.The seller could sue the broker in civil court for the amount of the profit realized on the resale of the property and the broker is subject to disciplinary action by the Commissioner. Because a lawsuit or court action would not necessarily occur in this situation The assignment of a lease which includes an option to purchase 1. transfers the option to the assignee. 2. is voidable by the landowner. 3. is prohibited by the Statute of Frauds. 4. will cause the option to become unenforceable. - -1. transfers the option to the assignee. Because the lease is being transferred to the person the lease benefits or is assigned The position of trust assumed by a property manager as an agent is best described as which type of relationship? 1. Indeterminable 2. Fiduciary 3. Trustor 4. Trustee - -2. Fiduciary first off, in the language its stating what type of relationship it is not just who is who. secondly this is an agency relationship of money ie the trust. A property owner has a lot valued at $10,000. He purchases the adjacent lot, which is identical, for $10,000. Now the combined property is appraised at $30,000. This is an example of 1. residual. 2. plottage. alization. table. - -2. Plottage Plottage. the increase in value realized by combining adjacent parcels of land into one larger parcel. also known as assemblage. tenancy in common (Def) - -a shared tenancy in which each holder has a distinct, separately transferable interest. Oregon law requires that the tax assessment of residential property be based on which of the following as of the assessment date? 1. Intrinsic value 2. Real market value or maximum assessed value, whichever is