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Oregon Real Estate Exam (PSI) Questions and Answers 100% Pass $11.49
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Oregon Real Estate Exam (PSI) Questions and Answers 100% Pass
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  • Oregon Real Estate

Oregon Real Estate Exam (PSI) Questions and Answers 100% Pass How many consecutive years of non-use of water does one lose their water rights in Oregon? - ANSWER -5 consecutive years, the right is considered forfeited Who must register the business name? - ANSWER -Principal Broker, must registe...

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  • December 17, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • oregon real estate exam psi questions and answer

Written for

  • Oregon Real Estate
  • Oregon Real Estate

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EmilyCharlene

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Oregon Real Estate Exam (PSI)
Questions and Answers 100% Pass

How many consecutive years of non-use of water does one lose their water rights in Oregon? - ANSWER

✔✔-5 consecutive years, the right is considered forfeited


Who must register the business name? - ANSWER ✔✔-Principal Broker, must register the business name

with REA-(Real Estate Agency) under their name.


How long must real estate documents be kept? - ANSWER ✔✔-6 years, from the date the transaction was

accepted, rejected, or withdrawn


Who approves advertising? - ANSWER ✔✔-The principal broker


When should the principal broker review a brokers Documents? - ANSWER ✔✔-7 days, of the

documents acceptance, rejection, or withdrawal. The principal broker must initial and date the document

in writing at the time of review


How long must you keep attendance & continuing education records? - ANSWER ✔✔-3 years, All other

records regarding business are kept for 6 years


When should you notify the Real Estate agency a clients trust account has been closed/opened? -

ANSWER ✔✔-10 business days, from the date the account was opened or closed


When informing the real estate agency a clients trust account has been opened. What information is to be

included? - ANSWER ✔✔-1. Name of the bank


2. Account Number




Created by ©EmilyCharlene 2025. All rights reserved.

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3. Name of the account


4. Date the account was opened


5. Acknowledged copy of the notice


How long can a broker temporarily supervise due to the absence of the principal broker? - ANSWER ✔✔-

90 days, with written authorization and broker accepts in writing the effective & termination date. The

broker must also have 3years of active real estate experience.


Who must maintain CE (continuing education) records - ANSWER ✔✔-Principal brokers and brokers

must maintain all their own CE records for 3years


Only accepted course for renewing real estate license for the first time - ANSWER ✔✔-Advanced

Practices Course & LARRC aka Law & Rule Required course


Continuing education requires what? - ANSWER ✔✔-Principal brokers & brokers are required to

complete 30hours of continuing education each 2year license cycle




Your first renewal must include 3hour law & rule required course aka (LARRC) & 27hours broker

advanced practices course


How long until earnest money needs to be deposited? - ANSWER ✔✔-3 banking days


In the principal brokers absence he may assign a broker to temporarily supervise. The authorizing

principal broker must file what to end the authorized broker before the agreed upon termination date? -

ANSWER ✔✔-Amend Authorization Before Termination Date


What must happen before a principal broker can authorize a broker to supervise? - ANSWER ✔✔-Written

authorization must be received by the agency before the effective date




Created by ©EmilyCharlene 2025. All rights reserved.

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