PSI Oregon Broker Exam Preparation | Real Exam Questions, Verified Answers, and Study Tips by
Experts
Estoppel Certificate - ANSW✔◻-Ratification of the tenant's lease. Requested by the landlord when
selling or refinancing the property to prove the validity of the lease.
Qualified Intermediary - ANSW✔◻-Can be a person or company who does not have ownership or
interest in the properties being exchanged.
Leasing Land to Build - ANSW✔◻-The lease must be subordinated, it gives the mortgage company
security.
Prescriptive Easements - ANSW✔◻-Must be open and notorious, and uninterrupted for a minimum of
20 years.
Commercial Mortgage Backed Securities (CMBS) - ANSW✔◻-A type of mortgage-backed security that is
secured by the loan on a commercial property. Can provide liquidity to real estate investors and to
commercial lenders.
Type of COMAR Hearings - ANSW✔◻-Judicial, Revocation/Suspension, Guaranty Fund Claims, and
Applications for Licensure.
How is the real estate industry governed? - ANSW✔◻-Title 17 and Comar.
Irrevocable Consent - ANSW✔◻-If a licensee lives in another state they would need to submit this to the
commission.
, PSI Oregon Broker Exam Preparation | Real Exam Questions, Verified Answers, and Study Tips by
Experts
Penalty for Operating Without a License - ANSW✔◻-First violation: $5,000 fine. Second violation:
$15,000 fine and 2 years imprisonment. Third violation: $25,000 fine and 3 years imprisonment.
Changing Location of Escrow Account or Office - ANSW✔◻-The broker must notify the commission 10
days before the change.
Check Drawn from Escrow Account - ANSW✔◻-Must be signed by the firms' broker. Does not need a
second signature.
Maryland Commission of Civil Rights - ANSW✔◻-Preventing and responding to discrimination.
Composed of 9 members, appointed by the governor for a 6 year term.
Discrimination Complaints - ANSW✔◻-Complaints must be made to HUD or MCCR within 1 year of the
alleged action.
Agricultural Land Preservation Foundation - ANSW✔◻-May purchase easements to restrict land to
agricultural use.
Residential Property Disclosure and Disclaimer - ANSW✔◻-Must be completed by the seller at the time
of listing. Confirm it is completed and signed. Made readily available to all potential buyers. Can be
voided until loan application is made.
Chesapeake and Atlantic Coastal Bays Critical Area - ANSW✔◻-Sales contract clause required in
contracts for all counties in Maryland.
Maryland Tax Assessment - ANSW✔◻-100% of market value using Triennial Assessment: Based on a
three-year cycle in which one-third of all properties are revalued for tax purposes.
Amending Condominium Bylaws - ANSW✔◻-Require affirmative vote by 60% of the owners in good
standing.
Experts
Estoppel Certificate - ANSW✔◻-Ratification of the tenant's lease. Requested by the landlord when
selling or refinancing the property to prove the validity of the lease.
Qualified Intermediary - ANSW✔◻-Can be a person or company who does not have ownership or
interest in the properties being exchanged.
Leasing Land to Build - ANSW✔◻-The lease must be subordinated, it gives the mortgage company
security.
Prescriptive Easements - ANSW✔◻-Must be open and notorious, and uninterrupted for a minimum of
20 years.
Commercial Mortgage Backed Securities (CMBS) - ANSW✔◻-A type of mortgage-backed security that is
secured by the loan on a commercial property. Can provide liquidity to real estate investors and to
commercial lenders.
Type of COMAR Hearings - ANSW✔◻-Judicial, Revocation/Suspension, Guaranty Fund Claims, and
Applications for Licensure.
How is the real estate industry governed? - ANSW✔◻-Title 17 and Comar.
Irrevocable Consent - ANSW✔◻-If a licensee lives in another state they would need to submit this to the
commission.
, PSI Oregon Broker Exam Preparation | Real Exam Questions, Verified Answers, and Study Tips by
Experts
Penalty for Operating Without a License - ANSW✔◻-First violation: $5,000 fine. Second violation:
$15,000 fine and 2 years imprisonment. Third violation: $25,000 fine and 3 years imprisonment.
Changing Location of Escrow Account or Office - ANSW✔◻-The broker must notify the commission 10
days before the change.
Check Drawn from Escrow Account - ANSW✔◻-Must be signed by the firms' broker. Does not need a
second signature.
Maryland Commission of Civil Rights - ANSW✔◻-Preventing and responding to discrimination.
Composed of 9 members, appointed by the governor for a 6 year term.
Discrimination Complaints - ANSW✔◻-Complaints must be made to HUD or MCCR within 1 year of the
alleged action.
Agricultural Land Preservation Foundation - ANSW✔◻-May purchase easements to restrict land to
agricultural use.
Residential Property Disclosure and Disclaimer - ANSW✔◻-Must be completed by the seller at the time
of listing. Confirm it is completed and signed. Made readily available to all potential buyers. Can be
voided until loan application is made.
Chesapeake and Atlantic Coastal Bays Critical Area - ANSW✔◻-Sales contract clause required in
contracts for all counties in Maryland.
Maryland Tax Assessment - ANSW✔◻-100% of market value using Triennial Assessment: Based on a
three-year cycle in which one-third of all properties are revalued for tax purposes.
Amending Condominium Bylaws - ANSW✔◻-Require affirmative vote by 60% of the owners in good
standing.
