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OREGON BROKER PSI ACTUAL EXAM REVIEW
QUESTIONS NEWEST 2025 COMPLETE 200
QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+ (BRAND NEW VERSION!!)
Title is held by two people as joint tenants with the rights of
survivorship. If one party dies, the deceased party's interest goes
- ANSWER-To the co-owner
The tenant who remains in possession of real estate after the
lease has expired and does so without the landlord's consent is -
ANSWER-A tenant at sufferance
The principle of value that will determine whether or not a
renovation is financially feasible - ANSWER-contribution (if the
increase in the value is more than the cost to renovate, the sellers
would financially benefit from the renovation)
Investing in Real Estate has the disadvantage of - ANSWER-
lack of liquidity
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An example of voluntary alienation is - ANSWER-A deed
Local zoning ordinances may NOT regulate - ANSWER-market
value of a property
A buyer defaults on a purchase agreement and the seller goes to
court to force the buyer to buy. The seller's remedy is -
ANSWER-Specific Performance
Upon the death of a life tenant, the holder of the remainder
estate will have which type of estate? - ANSWER-Fee Simple
Absolute Estate
A lease in which a commercial tenant's rent amount stays the
same for the term of the lease and the tenant pays only rent to
the landlord is what type of lease? - ANSWER-Gross Lease
After a foreclosure proceeding, if the mortgagor owes the
mortgagee more than what was received through the foreclosure,
the mortgagee may file for a - ANSWER-Deficiency Judgment
The document that creates a lien and acts as security for the
promissory not is a - ANSWER-Deed of trust
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A seller who wants to be excluded from paying capital gains tax
on a principal residence will need to - ANSWER-Live in the
home two out of 5 years
Open listing - ANSWER-Any broker can sell the property and
get paid a commission if that broker is the procuring cause of the
sale
How would the buyer's earnest money deposit be entered on a
closing statement? - ANSWER-Credit to buyer only
The seller told the listing broker that the seller's loan was
assumable. Upon reviewing the seller's loan documents, the
listing broker found that the mortgage was not assumable and
that the seller would have to pay off the mortgage upon sale.
What clause did the broker discover? - ANSWER-Due-on-sale
Clause
Deeds do NOT guarantee - ANSWER-Ownership
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What circumstances would terminate an offer on a residential
property? - ANSWER-Death of the offeror, revocation before
acceptance, and a counteroffer from the seller
The set of standards that governs appraisers is called -
ANSWER-USPAP (Uniform Standards of Professional
Appraisal Practice)
A method of property description using monuments, distances,
and compass directions is the - ANSWER-Metes-and-bounds
Method
On a buyer's closing statement, the buyer would typically be
credited for - ANSWER-Loans being assumed
Which best describes capitalization rate? - ANSWER-Rate of
return an income property will produce
A property owner has given a neighbor permission to park a
camper in the owner's yard for a few weeks free of charge. The
neighbor has a - ANSWER-License
OREGON BROKER PSI ACTUAL EXAM REVIEW
QUESTIONS NEWEST 2025 COMPLETE 200
QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+ (BRAND NEW VERSION!!)
Title is held by two people as joint tenants with the rights of
survivorship. If one party dies, the deceased party's interest goes
- ANSWER-To the co-owner
The tenant who remains in possession of real estate after the
lease has expired and does so without the landlord's consent is -
ANSWER-A tenant at sufferance
The principle of value that will determine whether or not a
renovation is financially feasible - ANSWER-contribution (if the
increase in the value is more than the cost to renovate, the sellers
would financially benefit from the renovation)
Investing in Real Estate has the disadvantage of - ANSWER-
lack of liquidity
,2|Page
An example of voluntary alienation is - ANSWER-A deed
Local zoning ordinances may NOT regulate - ANSWER-market
value of a property
A buyer defaults on a purchase agreement and the seller goes to
court to force the buyer to buy. The seller's remedy is -
ANSWER-Specific Performance
Upon the death of a life tenant, the holder of the remainder
estate will have which type of estate? - ANSWER-Fee Simple
Absolute Estate
A lease in which a commercial tenant's rent amount stays the
same for the term of the lease and the tenant pays only rent to
the landlord is what type of lease? - ANSWER-Gross Lease
After a foreclosure proceeding, if the mortgagor owes the
mortgagee more than what was received through the foreclosure,
the mortgagee may file for a - ANSWER-Deficiency Judgment
The document that creates a lien and acts as security for the
promissory not is a - ANSWER-Deed of trust
,3|Page
A seller who wants to be excluded from paying capital gains tax
on a principal residence will need to - ANSWER-Live in the
home two out of 5 years
Open listing - ANSWER-Any broker can sell the property and
get paid a commission if that broker is the procuring cause of the
sale
How would the buyer's earnest money deposit be entered on a
closing statement? - ANSWER-Credit to buyer only
The seller told the listing broker that the seller's loan was
assumable. Upon reviewing the seller's loan documents, the
listing broker found that the mortgage was not assumable and
that the seller would have to pay off the mortgage upon sale.
What clause did the broker discover? - ANSWER-Due-on-sale
Clause
Deeds do NOT guarantee - ANSWER-Ownership
, 4|Page
What circumstances would terminate an offer on a residential
property? - ANSWER-Death of the offeror, revocation before
acceptance, and a counteroffer from the seller
The set of standards that governs appraisers is called -
ANSWER-USPAP (Uniform Standards of Professional
Appraisal Practice)
A method of property description using monuments, distances,
and compass directions is the - ANSWER-Metes-and-bounds
Method
On a buyer's closing statement, the buyer would typically be
credited for - ANSWER-Loans being assumed
Which best describes capitalization rate? - ANSWER-Rate of
return an income property will produce
A property owner has given a neighbor permission to park a
camper in the owner's yard for a few weeks free of charge. The
neighbor has a - ANSWER-License
