Oregon Broker Psi Exam 2023 Questions and answers, 100% Accurate. Graded A+| latest update 2024/25|

Oregon Broker Psi Exam 2023 Questions and answers, 100% Accurate. Graded A+ How long must real estate documents be kept? - -6 years, from the date the transaction was accepted, rejected, or withdrawn Who approves advertising? - -Principal broker When should the principal broker review brokers documents? - -7 days of the document's acceptance, rejection or withdrawal. The PB must sign and initial at the time of review How long must you keep attendance and continuing records? - -3 years everything else regarding business for 6 years When should you notify the real estate agency that a client's trust account has been opened/closed? - -10 business days from the date it was closed or opened When informing the RE agency a trust account has been opened what info must be included? - - name of bank, account number, name of account, date it was created, and acknowledgment A broker associated with a principal real estate broker was asked by a property owner to prepare a competitive market analysis for the owners residence. Under Oregon law, which of the following statements about a CMA is true? - -A fee may be charged for proving a CMA the analysis may not be contingent upon reporting a predetermined value Under OR law if a principal real estate broker establishes an independent contractor relationship with an associated real estate broker - -The principal broker must supervise the real estate brokers real estate activities to conform to the OR real estate license and law administrative rules Non licensed employees of a property manager may do all of the following except - -negotiate and sign property management agreement with owners An OR resident may engage in RE without a license if - -he deals in estate property as an appointed executor of the estate The license of an active OR real estate broker who is associated with a principal broker - -Must be renewed before the expiration date to remain active After a broker's agency relationship with an OR principal broker is terminated the brokers license if it is not reissues revoked or suspended will become - -inactive license within 30 calendar days OR law provides that a person may renew an inactive real estate license - -every two years indefinitely Which of the following must be deposited in a client's trust account or neutral escrow? - -Earnest money deposits collected rents to be prorated at closing sales proceeds yet to be disbursed Who must register the business name ? - -Principal Broker, must register the business name with REA-(Real Estate Agency) under their na