Oregon Real Estate Broker License Exam
Questions and Verified Solutions 100%
Correct Answers Already Graded A+
QUESTIONS AND ANSWERS
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 three years. ANSWER -True
The relationship between a real broker and and his client is. ANSWER -An agency
relationship coupled with fiduciary obligations
What body of law prescribes the rights and duties between a property manager and her
clients. ANSWER -Law of Agency
A special agent. ANSWER -Has the obligation of one task
To the seller, a broker representing the seller is usually. ANSWER -A special agent
The amount of commission a principal broker must pay a broker is determined by.
ANSWER -The listing agreement
, Which best describes the relationship between common law fiduciary duty and the statutory
fiduciary obligations of a broker?. ANSWER -Common law fiduciary duty is the basis for
the statutory fiduciary obligations
The duty of loyalty to a clients interests requires a broker to. ANSWER -Keep the clients
interests foremost in the brokers mind and actions
The obligation assumed by the broker as an agent for the client is described as a. ANSWER
-Fiduciary relationship
A seller tells the listing broker that termites have destroyed the subfloor in the living room
and the swimming pool is in violation of the city setback requirements. The following the
listing broker must disclose to the public and any prospective buyer. ANSWER -Disclose
the damage to the subfloor in the living room and the setback violation of the pool per city
code
The broker owes his client the duty of following his instructions. In the event the client
wants the broker to commit an unlawful act, what action should the broker take?.
ANSWER -Refuse to follow instructions and withdrawas broker immediately
Which of the following actions would not terminate an agency relationship created to sell
real property?. ANSWER -Death of a lender working with the buyer
Describe dual agency. ANSWER -A broker representing both the buyerand the seller in the
same transaction
A real estate broker. ANSWER -May act for both parties with knowledge and written
consent of both
If legal problems arise in a real estate transaction the principal broker should. ANSWER -
Notify the parties involved that they should retain a company attorney
Commingling is the opposite of. ANSWER -Separation
Questions and Verified Solutions 100%
Correct Answers Already Graded A+
QUESTIONS AND ANSWERS
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 three years. ANSWER -True
The relationship between a real broker and and his client is. ANSWER -An agency
relationship coupled with fiduciary obligations
What body of law prescribes the rights and duties between a property manager and her
clients. ANSWER -Law of Agency
A special agent. ANSWER -Has the obligation of one task
To the seller, a broker representing the seller is usually. ANSWER -A special agent
The amount of commission a principal broker must pay a broker is determined by.
ANSWER -The listing agreement
, Which best describes the relationship between common law fiduciary duty and the statutory
fiduciary obligations of a broker?. ANSWER -Common law fiduciary duty is the basis for
the statutory fiduciary obligations
The duty of loyalty to a clients interests requires a broker to. ANSWER -Keep the clients
interests foremost in the brokers mind and actions
The obligation assumed by the broker as an agent for the client is described as a. ANSWER
-Fiduciary relationship
A seller tells the listing broker that termites have destroyed the subfloor in the living room
and the swimming pool is in violation of the city setback requirements. The following the
listing broker must disclose to the public and any prospective buyer. ANSWER -Disclose
the damage to the subfloor in the living room and the setback violation of the pool per city
code
The broker owes his client the duty of following his instructions. In the event the client
wants the broker to commit an unlawful act, what action should the broker take?.
ANSWER -Refuse to follow instructions and withdrawas broker immediately
Which of the following actions would not terminate an agency relationship created to sell
real property?. ANSWER -Death of a lender working with the buyer
Describe dual agency. ANSWER -A broker representing both the buyerand the seller in the
same transaction
A real estate broker. ANSWER -May act for both parties with knowledge and written
consent of both
If legal problems arise in a real estate transaction the principal broker should. ANSWER -
Notify the parties involved that they should retain a company attorney
Commingling is the opposite of. ANSWER -Separation
