COCO SOLUTIONS ACADEMIC STORE

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 an...

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 - Answer 6 years, from the date the transaction was accepted, rejected, or withdrawn Who approves advertising?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 broke...

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 - A...

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 rec...

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 rehabilitation house...

What are liquidated damages? Liquidated damages are procured from selling property Liquidated damages are in excess of actual damages Liquidated damages are specified in a contract in case of breach of contract Liquidated damages are in addition to those specifically stated in a contract - Answer When the broker gets a listing, the broker is the agent and the principal broker is the sub-agent. True False - Answer False The principal broker is the agent of the seller;...

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...

If the demand for houses remains constant, the supply... A. Increases, the value will increase B. remains the same, the value will increase C. remains the same, the value will decrease D. Decreases, the value will increase - Answer D. Decreases, the value will increase A tight money market would indicate... A. A buyer's market in real estate B. A seller's market in real estate C. High interest rates D. Low interest rates E. Both A & C F. Both B & D - Answer E. Both A & C ...

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...

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 proper...

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...

Any promotional material distributed by an Oregon real estate broker associated with a principal real estate broker - Answer 1. must comply with all fair housing laws. 2. may contain the direct telephone number of the real estate broker if the principal broker's licensed name or registered business name is given (the registered business name must be used if there is one). Any promotional material distributed by an Oregon real estate broker associated with a principal real estate broker ...

An unlicensed personal assistant to a real estate broker could legally do which of the following? - Answer Deliver documents to a buyer. An Oregon real estate license must be held by a person who performs which of the following acts? - Answer 1. Take a listing from a real property owner with the expectation of receiving a commission 2. Charge a consultation fee to a seller for advice on marketing real property Which of the following acts requires an Oregon real estate license? - Answe...

Which of the following licenses allows a licensee to engage in property management activity. a. Broker b. Principal Broker c. Property Manager d. All of the above - Answer d. all of the above A broker needs how many years of experience in order to become a Principal Broker? - Answer 3 years What is the maximum term a real estate license is good for per renewal? - Answer 2 years If you are found guilty of stealing funds from your clients, what action is the real estate agency ...

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? - An...

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What should a driver do when he comes to an intersection controlled by a flashing yellow light? - Answer Proceekd only with caution How far ahead should you signal before turning, stopping, or changing lanes in traffic? - Answer 100 feet if going less than 39 mph and 200 feet if going faster than 40 mph What should a driver do when he comes to an intersection controlled by flashing red lights? - Answer Stop and then proceed with caution When meeting another vehicle at night, a ...

Who can over-rule a traffic signal? - Answer Crossing guard, police officer, and a state trooper. This sign means that a driver must stop before entering traffic. - Answer Yield sign Which line is used to mark the right edge of a road? - Answer Solid white line What must a driver do at a flashing yellow light? - Answer Slow down and proceed with caution. The purpose of a diamond-shaped yellow sign with black markings is to - Answer Warn of hazards ahead. A flashing red l...

A red indicator light on a dashboard indicates: - Answer A serious vehicle malfunction that must be addressed immediately. The purpose of a pre-entry check is that - Answer It allows drivers to check for anyone behind the vehicle, leaking fluids, and for low or flat tires. According to the MD law, who should be wearing a seat belt? - Answer All passengers and the driver regardless of age or position in the vehicle. A parking brake - Answer It is used to secure a vehicle when par...

SEE stands for what? - Answer Search, Evaluate, Execute ACC setting on an ignition switch - Answer It allows a driver to turn on some of a vehicle's features without turning on the vehicle. It can drain a battery quickly and is not necessary to turn on hazard flashers. A driver should use SEE - Answer Consistently when driving. A driver should be _ seconds from the vehicle in front of him/her. - Answer at least 3-4 seconds. In most cases, when starting a vehicle, the gear se...