Oregon real estate exam 2024 Flashcards

Oregon real estate exam 2024 Flashcards What is the best practice for a principal broker hiring a broker to work at their firm?supervise If a buyer doesn't receive the seller's property disclosure, how many days does the buyer have to cancel the transaction?up until closing Who is the beneficiary of a trustee's deed? The mortgage lender A real estate principal broker who engages in property management for an owner is obligated to all of the following

except:

maintenance of the grounds How many days does a principal broker have to review transaction file paperwork?Within 7 days of being accepted, rejected, or withdrawn.In the US Comprehensive Parks and Recreation System, what are the north and south lines are called?meridians A seller asks a real estate agent to list their land for sale.The land includes an untitled manufacture home. Can the real estate agent list both the land and the untitled manufacture home in the transaction?No, they can only sell real property and the manufactured home is personal property.Who is responsible for storing records?the principal broker What is a material fact that should be disclosed when selling a home?a meth lab When can you call yourself a group or a team in real estate?When you are working under a principal broker.Does the farm-use zoning transfer to the buyer if the property is in a non-exclusive farm-use zone?No, they would need to re-apply thru the county.How soon after the date on the document must an Oregon principal real estate broker review and initial each listing agreement, earnest money receipt, addendum, or counteroffer?within 7 banking days Which of the following would be considered commingling?A real estate agent depositing her client's earnest money into her brokerage's account.The real estate Agency can do all of these to a licensee

EXCEPT:

make a broker pay restitution

True or False: A purchase agreement or a lease made with

a lessor who is under legal age of majority (is a minor), is voidable by the lessor.true How many days does a property manager have to deposit a security deposit from a tenant?

• days

Which of the following reasons can a client be rejected legally from showing a home?the clients are members of the hate group "KKK" Husband and wife didn't state how to take ownership on title. In Oregon, what type of ownership will be on title?Tenants by the entirety/married couple. Survivorship estate between two parties.

Who can have a legal business name in real estate?both In a limited disclosed agency, where the seller agent and the buyer agent are both in the same firm working for a principal broker, who is part of the agency?The principal broker only How much time does a broker have to transmit to the principal broker received money, checks, drafts, warrants, promissory notes, or other considerations and any documents received?

• days unless otherwise stated by buyer

The following documents must be kept for record by the

principal broker except:

bills paid to keep the client trust account open How long does the principal broker have to initial and review an offer?Within 7 days of it being accepted, rejected, or withdrawn.Which is not an example of middle housing large multi-family housing If a promissory note is used as earnest money, what is the best interest for the seller as far as when they get paid the earnest money?offer acceptance day

What can be deposited in clients trust accounts: rent

checks sale proceeds yet to be disbursed