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OREGON REAL ESTATE FINAL STUDY GUIDE WITH COMPLETE SOLUTIONS.
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OREGON REAL ESTATE FINAL STUDY GUIDE WITH COMPLETE SOLUTIONS.
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OREGON REAL ESTATE FINAL STUDY GUIDE WITH COMPLETE SOLUTIONS.How many days notice must The Agency provide before performing a compliance review? - Answer 5 days
How long can a real estate broker's license be expired before it lapses? - Answer 1 year
who is not allowed to be an authorized signer on a property management trust account? - Answer Property Owner
What are the three things required when opening a client trust account? - Answer 1. The date the account was opened 2. The acct number
3. A statement authorizing the RE commissioner to examine the account
Which association purchases mortgages and bundles them into mortgage backed securities? - Answer FANNIE MAE The federal national mortgage association
What are the principals of valuation? - Answer DUST Demand, utility, scarcity, transferability
A reconciliation has how many parts?> - Answer 3
If a RE broker receives more than __ in cash for a single transaction, then he/she must report it to the IRS on form 8300. - Answer $10,000
What's the difference between the Civil Rights act of 1964 and the Fair Housing Act of 1968? - Answer The Fair House Act is a subset of the Civil Rights Act
What is the Bancroft Bonding Act? - Answer dealing with water and charter
What must happen before a lot in a subdivision can be sold through a land sale contract? - Answer A collection escrow must be established in the state Oregon with a party that is legally allowed to receive escrows.
What is a property's assessed value? - Answer The lower of it's real market value or it's maximum assessed value
What is the difference between a Broker price opinion and competitive market analysis? - Answer The BPO is more formal and in depth
Attempting to interfere with a fair housing investigation is a ___ under Oregon law? - Answer Class A misdemeanor
How many years must records be kept for RE activities? - Answer 6 years
What is the difference between revenue and receipts? - Answer revenue is when money belongs to you and receipts are when you receive the money
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