Classrep2

How long does a buyer have to revoke their offer after receiving a seller's property disclosure statement? - ANSWER 5 business days When must the seller's disclosure be sent? - ANSWER Once the seller receives a written offer to purchase from a buyer What is the first thing to consider when gathering leads? - ANSWER Quantity Legally speaking, what is a protected class? - ANSWER A group that is specifically protected from discrimination What is the standard commission rate on real es...

Principal Broker - ANSWER A principal real estate broker is an individual who may or may not be responsible for the professional real estate activity conducted by himself and others working in the same office. Principal Broker must be - ANSWER 18 years of age; background check; educational requirements; real estate license for 3 years; passed brokers exam To become eligible for a principal broker license, a broker must have held an active real estate license for a period of not less than t...

A branch office registration is necessary to use a: A. model unit, available for sale, in a subdivision for promotion of interest in the development. B. temporary structure for dissemination of information. - ANSWER Neither A nor B A person can work as a secretary in a real estate office without obtaining a real estate license. That secretary can legally perform which of the following functions? - ANSWER Verify the accuracy of listing information supplied by a broker by checking the records...

A branch office registration is necessary to use a: I. Model unit, available for sale, in a subdivision for promotion of interest in the development. II. Temporary structure for dissemination of information. - ANSWER Neither I nor II A person can work as a secretary in a real estate office without obtaining a real estate license. That secretary can legally perform which of the following functions? - ANSWER II only Verify the accuracy of listing information supplied by a broker by checki...

Promissory note for earnest money to be made payable at? - ANSWER Sellers Acceptance. Do social networking sites have to be supervised by the principal broker- - ANSWER yes social networking sites are advertising and must be supervised and approved by principal broker. .Which of the following doesn't require a real estate license? - ANSWER An auctioneer who is auctioning homes must have restate license or someone or deals with short term vacation rentals business license only - real estat...

Do social networking sites have to be supervised by the principal broker? - ANSWER Yes, social networking sites and advertising Does an acutioneer or a short term vacation rental need a real estate liscence? - ANSWER An auctioneer who is auctioning homes must have license - someone who deals with short term vacation rentals needs business license only - real estate license not required. Which of the following needs to be disclosed to a potential buyer? - ANSWER a house used for the cooking...

Within how many business days from the date a client's trust account is opened, a licensed real estate property manager or principal real estate broker shall notify the Real Estate Agency that the account has been opened? - ANSWER 10 Within how many business days from the date a clients' trust account is closed or transferred, a licensed real estate property manager or principal real estate broker shall notify the agency that the account has been closed or transferred and shall include in t...

When does oregon's property tax year begin? - ANSWER July 1st and ends on june 30th of the next year What lender would be the least likely to approve a short sale? - ANSWER junior lenders b/c they are in a secondary position when it comes to liens against the property and realize there may not be any money left to pay them after the lender in first position gets paid what is true about the assessed value of oregon real estate - ANSWER It's the value used to calculate the property tax...

Contract - ANSWER *agreement between two or morew competent parties based upon legal consideration that creates duties and obligations that are legally enforceable. 4 elements required for a contract - ANSWER *Competent Parties *Legal (or lawful) object or purpose *Agreement between the parties (offer & acceptance) *Consideration Valid Contract - ANSWER Contains all of the essential elements and is binding and enforceable upon both parties to the contract. Voidable Contract - ANSWER ...

An unlicensed personal assistant working for a licensed broker may do which of the following activities? 1. Write ads and submit them to the newspaper and online. 2. Host open houses. 3. Email brokers weekly updates to the broker's clients. 4. Write up an offer for a buyer and then have the broker sign the contract later. - ANSWER 1. Write ads and submit them to the newspaper and online. A principal real estate broker hired a number of part-time employees to show property, pass o...

The buyer asks if there are any sex offenders in the neighborhood. The agent's MOST appropriate response would be to: - 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? - ANSW...

How does a creditor who has obtained a judgment get satisfaction against a debtor who will not pay? - ANSWER Writ of execution. A major difference between freehold and nonfreehold estates is that all freehold estates _________. - ANSWER are of indeterminable duration. The economic characteristics of land are - ANSWER Scarcity, location, and durability. At the time of harvest, crops that require annual planting are generally considered to be - ANSWER Personal Property. A legal easemen...

An exception to title insurance coverage is - ANSWER defects that clearly appear in the title search. A licensee has an agency representation agreement with a buyer. When showing another company's listing, what obligation does the licensee have to the seller and the listing broker at the other company? - ANSWER Disclose the agency relationship when arranging the showing and disclose material information about the buyer if presenting an offer. A broker is teaching newly hired salespersons ...

Constructive eviction - ANSWER Acts done or not done by the landlord which materially disturb or impair tenants occupancy so as the tenant is forced to leave Surrender and acceptance - ANSWER Mutual agreement to terminate lease The residential landlord and tenant act - ANSWER Covers leased structures used as home, residence or sleeping place. EXCLUDES nursing homes, lease to own, dorms, frats, resident managers homes Law of agency - ANSWER Statutory law controlling the rights and duties...

How many consecutive years of non-use of water does one lose their water rights in Oregon? - ANSWER 5 consecutive years, the right is considered forfeited Who must register the business name? - ANSWER Principal Broker, must register the business name with REA-(Real Estate Agency) under their name. How long must real estate documents be kept? - ANSWER 6 years, from the date the transaction was accepted, rejected, or withdrawn Who approves advertising? - ANSWER The principal broker Whe...

What is the abbreviation for Colorado community College system? - ANSWER-CCCS What is the abbreviation for safety data sheet? - ANSWER-SDS What is the definition of ACT? - ANSWER-The law authorizing licensing and regulation of barbers, cosmetologist, aestheticians, hairstylist and nail technicians. Give an example of an approved program by the Colorado community College system? - ANSWER-Emily Griffith technical College How many hours must you complete in the state of Colorado to be a...

Which of the following colors will result in a shortened processing time when using a lightener on gray hair. - ANSWER-orange All of the following techniques can be performed with bleach EXCEPT - ANSWER-reverse technique all of the following have insufficient structure to color except - ANSWER-green cast all of the following are color units of measurements except - ANSWER-dominant OSHA regulates all of these except - ANSWER-evaluation of skilled and competent services what system ...

All types of bacteria are: - ANSWER-microscopic The corkscrew-shaped bacteria that causes diseases such as syphillis is: - ANSWER-Spirilla During the inactive stage, bacteria: - ANSWER-Form spherical spores Molds and mildew are types of: - ANSWER-Fungi Clients with ringworm or head lice should be: - ANSWER-referred to a physician acquired immunity - ANSWER-May be acquired through inoculation A used comedo extractor should be sterilized with dry heat or: - ANSWER-In an autoclave...

Which of the following terms defines the study of maintaining and improving the skin? Select one: a. onychology b. esthetics c. ethical conduct d. personal hygiene - ANSWER-Esthetics is the study of maintaining and improving the skin. How many hours of sleep do most people need to function properly? Select one: a. 1 to 2 hours b. 3 to 4 hours c. 6 to 8 hours d. 9 to 12 hours - ANSWER-Most people need 6 to 8 hours of sleep or they become fatigued and cannot function properly. The ...

what is considered a legal document? a. intake form b. color chart c. consent form d. service record - ANSWER-c. consent form what is an appropriate action in the event of unethical behavior on the part of the manager, such as sexual harassment or misappropriating funds? a. perform citizens arrest b. challenge the manager's authority c. physically eject the manager from the salon d. create a petition demanding the manager's termination - ANSWER-b. challenge the manager's auth...