OREGON REAL ESTATE FINAL STUDY GUIDE WITH 100% CORRECT ANSWERS

How many days notice must The Agency provide before performing a compliance review? correct answers 5 days How long can a real estate broker's license be expired before it lapses? correct answers 1 year who is not allowed to be an authorized signer on a property management trust account? correct answers Property Owner What are the three things required when opening a client trust account? correct answers 1. The date the account was opened 2. The acct number 3. A statement authorizing the RE commissioner to examine the account Which association purchases mortgages and bundles them into mortgage backed securities? correct answers FANNIE MAE The federal national mortgage association What are the principals of valuation? correct answers DUST Demand, utility, scarcity, transferability A reconciliation has how many parts?> correct answers 3 If a RE broker receives more than __ in cash for a single transaction, then he/she must report it to the IRS on form 8300. correct answers $10,000 What's the difference between the Civil Rights act of 1964 and the Fair Housing Act of 1968? correct answers The Fair House Act is a subset of the Civil Rights Act What is the Bancroft Bonding Act? correct answers dealing with water and charter What must happen before a lot in a subdivision can be sold through a land sale contract? correct answers A collection escrow must be established in the state Oregon with a party that is legally allowed to receive escrows. What is a property's assessed value? correct answers The lower of it's real market value or it's maximum assessed value What is the difference between a Broker price opinion and competitive market analysis? correct answers The BPO is more formal and in depth Attempting to interfere with a fair housing investigation is a ___ under Oregon law? correct answers Class A misdemeanor