130 QUESTIONS AND ANSWERS
A manufactured dwelling space tenant has the right to: - ANSWER Both sell
his manufactured dwelling on the rented space AND place a "for sale" sign on
the manufactured dwelling
Deed restrictions are created by: - ANSWER The grantor
A man devised his residence to his widow, and upon her death, it was to go to
his three children. The children received a: - ANSWER Remainder estate
The rights of ownership, including the right to use, possess, enjoy and dispose
of a thing in any legal way and to exclude everyone else without rights from
interfering is called: - ANSWER Bundle of rights
All of the following statements regarding an appurtenant easement are true,
EXCEPT: - ANSWER A railroad easement is an easement appurtenant
A lender that invests a major portion of its assets in long term real estate loans,
prefers large loans on commercial properties, and does not like to service its
own loan is a: - ANSWER Life Insurance Company
An acceleration clause in a promissory note or mortgage would mean that: -
ANSWER Upon the happening of a certain event, the entire amount of the
unpaid balance becomes due
A person receiving ownership of real property through a valid will is called: -
ANSWER A devisee
, Under Oregon real estate license law, funds in a principal broker's clients' trust
account can be subject to: - ANSWER Neither I nor II
How would the section directly south of section 16 be numbered? - ANSWER
21
Which of the following statements about housing loans with federal government
support is FALSE? - ANSWER The federal government supplies funds to the
lending agency
Which is usually true under commonly accepted principles of tenancy law?
I. Unless otherwise specified, a conveyance of property to a married couple is
construed as a tenancy by the entirety.
II. Tenancy by the entirety is characterized by a right of survivorship, which
may be severed by divorce or by joint conveyance of the married couple -
ANSWER Both I and II
Oregon's discrimination statutes related to real property transactions apply to:
I. Sellers of real property
II. Lessors or real property
III. Real Estate Licensees - ANSWER I, II and III
A property capitalized at 6% was worth $100,000. If a capitalization rate of 8%
were used, the value of the property would be: - ANSWER $75,000
Recording gives constructive notice. Which of the following also gives
constructive notice? - ANSWER Possession of land by a person other than the
grantor
The terms of a written lease can be changed only by: - ANSWER Another
agreement in writing signed by both parties
The sale of a commercial property that is under a long-term lease has which of
the following effects? - ANSWER It has no effect upon the term of the lease as
far as the tenant is concerned
A manufactured dwelling space tenant has the right to: - ANSWER Both sell
his manufactured dwelling on the rented space AND place a "for sale" sign on
the manufactured dwelling
Deed restrictions are created by: - ANSWER The grantor
A man devised his residence to his widow, and upon her death, it was to go to
his three children. The children received a: - ANSWER Remainder estate
The rights of ownership, including the right to use, possess, enjoy and dispose
of a thing in any legal way and to exclude everyone else without rights from
interfering is called: - ANSWER Bundle of rights
All of the following statements regarding an appurtenant easement are true,
EXCEPT: - ANSWER A railroad easement is an easement appurtenant
A lender that invests a major portion of its assets in long term real estate loans,
prefers large loans on commercial properties, and does not like to service its
own loan is a: - ANSWER Life Insurance Company
An acceleration clause in a promissory note or mortgage would mean that: -
ANSWER Upon the happening of a certain event, the entire amount of the
unpaid balance becomes due
A person receiving ownership of real property through a valid will is called: -
ANSWER A devisee
, Under Oregon real estate license law, funds in a principal broker's clients' trust
account can be subject to: - ANSWER Neither I nor II
How would the section directly south of section 16 be numbered? - ANSWER
21
Which of the following statements about housing loans with federal government
support is FALSE? - ANSWER The federal government supplies funds to the
lending agency
Which is usually true under commonly accepted principles of tenancy law?
I. Unless otherwise specified, a conveyance of property to a married couple is
construed as a tenancy by the entirety.
II. Tenancy by the entirety is characterized by a right of survivorship, which
may be severed by divorce or by joint conveyance of the married couple -
ANSWER Both I and II
Oregon's discrimination statutes related to real property transactions apply to:
I. Sellers of real property
II. Lessors or real property
III. Real Estate Licensees - ANSWER I, II and III
A property capitalized at 6% was worth $100,000. If a capitalization rate of 8%
were used, the value of the property would be: - ANSWER $75,000
Recording gives constructive notice. Which of the following also gives
constructive notice? - ANSWER Possession of land by a person other than the
grantor
The terms of a written lease can be changed only by: - ANSWER Another
agreement in writing signed by both parties
The sale of a commercial property that is under a long-term lease has which of
the following effects? - ANSWER It has no effect upon the term of the lease as
far as the tenant is concerned
