Oregon Practices Final Exam Review Questions and answers, with rationale. graded A+/ verified.| latest update 2024/25|

Oregon Practices Final Exam Review Questions and answers, with rationale. graded A+/ verified. A broker is a person who: a. is employed by another person b. has the authority to act for another person c. has the authority to exercise some discretion while acting for another person d. all of the above - -all of the above Feedback: All of the above comprise the definition of a broker. The correct answer is "d". Question #2: The person who hires or appoints a broker to act on his/her behalf is a _____________. a. broker b. principal c. manager d. easement - -principal Feedback: The person who hires or appoints a broker to act on his/her behalf is a principal. The correct answer is "b". In Oregon, a brokerage must register with the ____________________. a. attorney general b. housing authority c. office of the comptroller d. Oregon Real Estate Agency - -Oregon Real Estate Agency Feedback: In Oregon, a brokerage must register with the Oregon Real Estate Agency. Sally and John are licensees at ABC Realty. Who must supervise their day to day activities? a. the owner of brokerage who in unlicensed b. the principal broker of their brokerage c. the principal broker of any brokerage d. the Commissioner - -the principal broker of their brokerage Feedback: The principal broker must supervise the activities of their brokerage licensees. The correct answer is "b". If a principal broker needs to be absent from the company for an extended period of time, he/she delegates supervisory duties to _______________________through a written authorization. a. another principal broker b. the commissioner c. a broker who has three years of experience as a real estate broker d. either a or c - -either a or c Feedback: If a principal broker needs to be absent from the company for an extended period of time, he/she delegates supervisory duties to another principal broker or a broker who has three years of experience as a real estate broker through a written authorization. The correct answer is "d". The length of absence for the principal broker may not exceed ____ days. a. 30 days b. 60 days c. 90 days d. 120 days - -90 days Feedback: The length of absence for the principal broker may not exceed 90 days. The correct answer is "c". The principal broker has the responsibility of supervising the licensees of a brokerage. What might be included in this supervision? a. Reviewing of all real estate related paper