Exam (elaborations)
OREGON REAL ESTATE EXAM (PSI) QUESTIONS AND ANSWERS 2024
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OREGON REAL ESTATE EXAM (PSI) QUESTIONS AND ANSWERS 2024
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OREGON REAL ESTATE EXAM (PSI)When can the lots be sold under a binding contract? - ANSWERS-After the plat has
been RECORDED
If a vacant lot is purchased on a land sale contract, how many days does the
purchaser have to cancel the contract? - ANSWERS-3 business days
What is a model unit? - ANSWERS-aka Temporary structures used solely for
information and distribution of lawfully required public reports. Not considered
branch offices
What is a business day? - ANSWERS-Any day besides Saturday or Sunday or a
federal or State or Oregon legal holiday
Lapsed - ANSWERS-Real estate license not renewed in a timely manner and is not
elegible for renewel
As a real estate agent can you advertise your own property without your principal
broker's approval? - ANSWERS-Yes, as long as the home is not listed with the
principal broker
, Continuing Education instrusctors must have what to teach real estate classes? -
ANSWERS-6 years real estate experience or a bachlor's degree with two years
experience working as a broker
Branch Office - ANSWERS-Business location other than the main office
Main Office - ANSWERS-Real estate licesnsee's disignated place of business with
the state
How must a main office or branch office be disignated? - ANSWERS-With a sign
that contains the name under which the real estate licensee conducts real estate
activity
What must happen before a real estate office can change location? - ANSWERS-
Notify the agency on a form approved by the agency
Can a principal broker maintain more than one office location? - ANSWERS-Yes,
there must be one designated main office and everything else is considered a
branch office. All must be identifiable with proper signage outside each location.
Does a booth in a mall providing information on listings have to be registered with
the real estate agency as a branch office? - ANSWERS-Yes, any location or place in
which real estate activity is being conducted must be registered.
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