Aypo - Oregon Real Estate Broker License Education Review Study Guide Rated A+

Who should a promissory note used as earnest money be made out to? {Ans: The seller}Which of the following must a veteran have in order to qualify for a home loan backed by the VA? Select one: a. All of these are correct b. A valid driver's license c. A valid Certificate of Eligibility d. A valid Affidavit of Service {Ans: A valid Certificate of Eligibility}Which of the following is required by the Real Estate Settlement Procedures Act (RESPA)? Select one: a. The lender cannot sell the loan to a third party b. The lender must give the borrower an escrow statement every quarter (every three months). c. The closing costs of a sale must be equal to or lower than the Good Faith Estimate d. The seller cannot require that buyers utilize a specific title insurance company {Ans: The seller cannot require that buyers utilize a specific title insurance company}n which of the following would a broker be entitled to compensation under procuring cause? Select one: a. The client decides to no longer sell the property b. The client finishes off a transaction after ending the listing contract c. The client hires a new broker within