Oregon Real Estate Practices Unit Exam With Complete Solutions 2024.

What are liquidated damages? Liquidated damages are procured from selling property Liquidated damages are in excess of actual damages Liquidated damages are specified in a contract in case of breach of contract Liquidated damages are in addition to those specifically stated in a contract - Answer When the broker gets a listing, the broker is the agent and the principal broker is the sub-agent. True False - Answer False The principal broker is the agent of the seller; the broker is a sub-agent of the seller and an agent of the principal broker. The principal broker's duty to supervise the broker extends only to contractual documents. True False - Answer False The principal broker's duty to supervise the broker extends to real estate activity that requires a license.