THE CODE, Oregon Real Estate Exam (PSI) Questions with 100% correct answers

The buyer asks if there are any sex offenders in the neighborhood. The agent's MOST appropriate response would be to: correct answers 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? correct answers When he has submitted his plat map to local authorities, received approval, and recorded it The lead paint addendum that must be presented with the purchase and sales contract for certain older homes will: correct answers provide the buyer with the opportunity to wave the right to a lead paint inspection. Market price is: correct answers What the property sells for The most listing contracts, a broker who has brought a ready, willing, and able buyer to a seller who agrees to the terms of a sales contract: correct answers Does not earn money unless the sales closes. A motel is the subject of an appraisal and it is determined that a rerouting of a country highway has limited customer access to the motel. This is an example of: correct answers economic obsolescence An owner signed a contract to sell an apartment building. Just before closing, the owner informed the buyers that she had changed her mind and would NOT sell the property. A lawsuit filed by the buyers would be for: correct answers Specific Performance Quality Supermarkets has taken occupancy of a retail building and has a long term lease. As part of the their fit-up, they bolt to the floor their meat and dairy coolers, and shelves. When Quality Supermarket vacates the property at the end of the lease, will Quality Supermarkets be legally entitled to remove these fixtures? correct answers Yes, if removed prior to the end of the lease A seller has listed a home with a broker for $112,000. The seller is leaving for a 45 day cruise midway through the listing period, and authorizes the broker through a power of attorney to accept any offer of all cash at a price $100,000 or more. Broker receives a cash offer for $110,000, what does the broker do? correct answers May accept the offer The sellers have listed their property for sale because they are in a difficult financial situation and would like to get the house sold quickly. If one of the other sellers in the area ask why that client is selling, the listing agent should respond by explaining what: correct answers Because they are looking to sell their house