9 pre-licensure
A non-resident license holder may manage property in Oregon
False.
The principal real estate broker must
review each document of agreement generated in a real estate transaction within seven banking days after it has been accepted, rejected, or withdrawn.
Competitive market analysis
means a method or process used by a licensed broker in pursuing a listing agreement or in formulating an offer to acquire real estate in a transaction for the sale, lease, lease option or exchange of real estate.
Sending principal broker
means the authorized licensee or principal broker with whom an active real estate broker is associated before the license transfer.
In a 1031 exchange, the property
must be a like-kind property.
Under Oregon law, a broker may perform the duties of an escrow agent without obtaining an escrow license
only if the closing is for a transaction handled by the broker and the parties are not charged a separate fee.
The concept of allowing non-residents to engage in real estate activities in Oregon if the non-resident's home state would allow Oregon residents to engage in real estate activities there under substantially similar terms is called
reciprocity.
The secondary mortgage market functions to
enable primary lending institutions to free the funds they have invested in mortgage loans by selling those mortgages to lenders having capital available for real estate investments. Minimize the fluctuations in funds available to meet the demand for mortgage loans.
Oregon law provides that a person may renew an inactive real estate license
every two years indefinitely.
The secondary mortgage market refers to the market wherein
existing loans are bought and sold.
It is characteristic of mortgage brokers that they
function to bring borrowers and lenders together for a real estate loan, and seldom make and service loans on their own account.
Boot is taxable as
income.
Receiving principal broker means
the authorized licensee or principal broker with whom an active real estate broker will be associated after the license transfer.
A broker would associate the term boot with which of the following?
A tax free exchange.
Under Oregon statutes and administrative rules, a licensed property manager may do all of the following for compensation.
Rent an owner's rental properties, advertise for tenants for an owner's properties, and lease an owner's properties. He may not list an owner's rental properties for sale, however.
Absent authorizing broker
a principal real estate broker, for a period not to exceed 90 days, may authorize another, real estate broker or principal real estate broker to control and supervise the professional real estate activity conducted by the authorizing licensee during his absence.
The objective of competitive market analysis is
a recommended listing, selling or purchase price or a lease or rental consideration.
A straw man is
an intermediary for a real estate transaction, usually with nominal importance used to conceal the identity of the true principal in the transaction. A broker may not use a straw man to avoid disclosing that he is the principal in the transaction.
