Or Real Estate Exam

Front 1

The tax year for real property in Oregon is from

Back 1

July 1 through the following June 30.

Front 2

A principal real estate broker hired a number of part-time employees to show property, pass out brochures, quote prices, and state terms of the sale of real property in a development. A real estate broker was on site to fill out all of the earnest money agreements. The employees did not sign documents. Under these circumstances, the

Back 2

employees must be real estate licensees.

Front 3

In a trust deed entered into in Oregon, the borrower is called a

Back 3

grantor

Front 4

The market data appraisal approach would be best used for

Back 4

vacant land valuation.

Front 5

To be legal, a deed must have

Back 5

a granting clause.

Front 6

Repplinger listed his house at a price 7% higher than the FHA appraised value, which was $84,300. What was the listing price?

Back 6

$90,200

$84,300x.07%=90,201 = $90,201

Front 7

Which of the following would be a lien against real property?

Back 7

A judgment

Front 8

An easement appurtenant

I. is the usual type of easement granted to utility companies to permit them to run electric lines across the property.

II. runs with the land.

Back 8

II only

Front 9

Oregon law requires that the tax assessment of residential property be based on which of the following as of the assessment date?

Back 9

Real market value or maximum assessed value, whichever is lower

Front 10

The quasi-public institution which serves as a ready secondary mortgage market participant to purchase insured or noninsured existing loans is called the

Back 10

Federal National Mortgage Association.