Global Scholars’ Resource Hub

Principal Broker correct answers 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 correct answers 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 n...

When does oregon's property tax year begin? correct answers July 1st and ends on june 30th of the next year What lender would be the least likely to approve a short sale? correct answers 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 correct answers It's the value used to calcu...

Do social networking sites have to be supervised by the principal broker? correct answers Yes, social networking sites and advertising Does an acutioneer or a short term vacation rental need a real estate liscence? correct answers 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? correct answers a rehab...

An unlicensed personal assistant to a real estate broker could legally do which of the following? correct answers Deliver documents to a buyer. An Oregon real estate license must be held by a person who performs which of the following acts? correct answers 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 licens...

How many days does a principal broker have to provide the name and account number of the bank after opening a trust account? correct answers 10 business days What is the age a person has to be to get a reverse mortgage? correct answers 62 years old and if married both persons must be at least 62 What is de-titling a manufactured home? correct answers Placing it on a lot permanently thereby changing it from personal property to real property. In so doing, ownership is evidenced by a deed ra...

Earnest money can be in the form of correct answers cash or check and/or promissory note Real estate sales commissions are usually paid by the correct answers seller Open spaces with half cubicles are often referred to as a correct answers bull pens An escrow agent acts as a ____ party correct answers neutral third Office standards for both employees and independent contractors should be in writing in the form of a/an correct answers office policy manual ASP is an acronym for: cor...

Crops could be used as _______________ on a loan? correct answers Security Syndicates may be organized as which of the following: correct answers Trust, Joint Venture, and Corporation MOG rights for real property refer to ________________________________? correct answers Mineral, Oil, and Gas Rights. There are two types of partnerships: correct answers General Partnership and Limited Partnership Which of the following would be considered a right of ownership under the bundle of right...

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. correct answers 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? correct answers II only Verify the accuracy of listing information supplied by a br...

Real Estate Exam FL Sales Associate (Questions with correct solutions) State Exam FLORIDA REAL ESTATE (A GRADED) FLORIDA Real Estate Pre-License Exam Review (Verified with complete answers) Florida Real Estate Broker Exam (A GRADED)

A few days after an owner signed a listing agreement he told the broker that he would not sell to anyone who was single or divorced. Under Oregon law, which of the following statements are TRUE regarding this situation? I. Discrimination based on marital status is covered by Oregon statutes. II. The broker may retain the listing. I only I and II Neither I nor II II only correct answers I only?? A membership camping contract grants a membership that provides a right or license to use...

Do social networking sites have to be supervised by the principal broker? correct answers Yes, social networking sites and advertising Does an acutioneer or a short term vacation rental need a real estate liscence? correct answers 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? correct answers a house...

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?...

Ratification correct answers the confirmation of an act already preformed on behalf of another person without prior authorization. Commingling correct answers To mingle or mix funds, illegal Conversion correct answers Mishandling client funds Option correct answers unilateral real estate agreement executory contract correct answers contract that is to be performed. Recission correct answers legal remedy of canceling a contract and retoring the parties to their orginal position. ...

Promissory note for earnest money to be made payable at? correct answers Sellers Acceptance. Do social networking sites have to be supervised by the principal broker- correct answers 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? correct answers An auctioneer who is auctioning homes must have restate license or someone or deals with short term vacation rentals business lice...

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

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. correct answers 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,...

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 authorizin...

An example of novation is that the correct answers seller's liability for the obligation is replaced by the buyer's. Under Oregon law in a month-to-month tenancy, the landlord has a right to correct answers terminate a tenant's occupancy after 30 days' written notice. To realize the maximum value of a property, a reasonable degree of sociological and economic homogeneity is necessary, but it should not become monotonously uniform. In real estate, this concept is called the principle of...

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? correct answers 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 inclu...

An exception to title insurance coverage is correct answers 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? correct answers 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...